Is Prairie State Bank and Trust a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Prairie State Bank and Trust to those of other lenders for a comparable set of borrowers. We maintain our independence by not accepting any money from the mortgage lenders we review. Going by historical data, here is our review of Prairie State Bank and Trust nationally:
|Review Item||Prairie State Bank and Trust|
|Interest Rate||similar to other lenders (-0.05%)|
|Loan Related Closing Costs||similar to other lenders (-$154)|
|National Rate and Closing Cost Star Rating||(4)|
On average, Prairie State Bank and Trust’s interest rates were similar to those of other lenders (-0.05%) for a comparable set of borrowers. Its loan related closing costs were also similar to those of other lenders, with a difference of -$154. Overall, combining interest rates and closing costs we estimate that Prairie State Bank and Trust tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 4 out of 5 stars. To visit Prairie State Bank and Trust, its website is located at: https://www.psbank.net.
Prairie State Bank and Trust’s Rate Review by City
Mortgage lenders often set different rates in different geographical markets. In particular, among the cities we track Prairie State Bank and Trust was most active in:
You can click through to check out Prairie State Bank and Trust’s mortgage rate relative to those of other lenders within each city. Or, for our entire list of the top mortgage lenders by city, click here.
Prairie State Bank and Trust’s Rate Review by Mortgage Type
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Prairie State Bank and Trust originated Conforming mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.
|New Purchase Mortgages||Conforming|
|Interest Rate Difference||-0.04%|
|Loan Related Closing Cost Difference||-$106|
|Cost Adjusted Rate Difference||-0.06%|
|National Star Rating|
|Interest Rate Difference||-0.07%|
|Loan Related Closing Cost Difference||-$204|
|Cost Adjusted Rate Difference||-0.09%|
|Average Star Rating|
As a summary, Prairie State Bank and Trust is cheap for Conforming purchase mortgages. For refinancing, Prairie State Bank and Trust is cheap for Conforming mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.
Other information about Prairie State Bank and Trust:
Registered city and state: Springfield, IL, 62704
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: AMERICAN CENTRAL BANCORPORATION, INC.
* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Prairie State Bank and Trust’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.