INB, National Association Mortgage Interest Rate and Cost Review

Is INB, National Association a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by INB, National Association with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (-0.01%)
Loan Related Closing Costssimilar to average (-$140)
National Rate and Closing Cost Rating(3.5)

On average, INB, National Association’s interest rates were similar to those of other lenders (-0.01%) for a comparable set of borrowers. Its average total loan related closing cost was similar to those of other lenders, with a difference of -$140. Overall, combining interest rates and closing costs we estimate that INB, National Association tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5.0 stars.

INB, National Association’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track INB, National Association was most active in:

  1. Springfield, IL
  2. Peoria, IL
  3. Champaign, IL
  4. Bloomington, IL
  5. St. Louis, MO

You can click through to check out INB, National Association’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

INB, National Association’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, INB, National Association originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA and VA mortgages for refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

New Purchase MortgagesConformingFHAUSDAVA
Interest Rate Difference+0.00%-0.05%-0.01%-0.01%
Loan Related Closing Cost Difference-$156-$55-$41-$43
Cost Adjusted Rate Difference-0.02%-0.06%-0.01%-0.01%
Star Rating(3.5)(4.0)(3.5)(3.5)
Refinance MortgagesConformingFHAVA
Interest Rate Difference-0.02%+0.00%-0.00%
Loan Related Closing Cost Difference-$129+$8-$23
Cost Adjusted Rate Difference-0.03%+0.00%-0.00%
Star Rating(3.5)(3.5)(3.5)

As a summary, INB, National Association is cheap for FHA purchase mortgages. It is similar to other lenders for Conforming, USDA and VA purchase mortgages. For refinancing mortgages, INB, National Association is similar to other lenders for Conforming, FHA and VA mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about INB, National Association:

Registered name: Inb, National Association
Registered city and state: SPRINGFIELD, IL, 62701
Regulator: Office of the Comptroller of the Currency (OCC)

* 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 INB, National Association’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.