Town and Country Bank Mortgage Interest Rate and Cost Review

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

Interest Ratesimilar to average (-0.00%)
Loan Related Closing Costssimilar to average (-$105)
National Rate and Closing Cost Rating(3.5)

On average, Town and Country Bank’s interest rates were similar to those of other lenders (-0.00%) for a comparable set of borrowers. Its average total loan related closing cost was similar to those of other lenders, with a difference of -$105. Overall, combining interest rates and closing costs we estimate that Town and Country Bank 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.

Town and Country Bank’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Town and Country Bank was most active in:

  1. Springfield, IL
  2. Decatur, IL
  3. Edwardsville, IL
  4. St. Louis, MO
  5. Jacksonville, IL

Furthermore, Town and Country Bank is our top ranked mortgage lender in terms of interest rate and closing costs in:

  1. Decatur, IL, for FHA mortgages
  2. Jacksonville, IL, for FHA, and VA mortgages
  3. Quincy, IL, for FHA, and VA mortgages

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

Town and Country Bank’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, Town and Country Bank originated Conforming, FHA, Jumbo, 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 MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.04%-0.10%-0.00%-0.03%-0.02%
Loan Related Closing Cost Difference-$86-$117+$7-$72-$77
Cost Adjusted Rate Difference+0.03%-0.12%-0.00%-0.04%-0.02%
Star Rating(3.5)(4.0)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAVA
Interest Rate Difference-0.01%-0.01%+0.00%
Loan Related Closing Cost Difference-$163+$6-$70
Cost Adjusted Rate Difference-0.03%-0.01%-0.00%
Star Rating(3.5)(3.5)(3.5)

As a summary, Town and Country Bank is cheap for FHA purchase mortgages. It is similar to other lenders for Conforming, Jumbo, USDA and VA purchase mortgages. For refinancing mortgages, Town and Country Bank 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 Town and Country Bank:

Registered name: Town and Country Banc Mortgage
Registered city and state: SPRINGFIELD, IL, 62704
Regulator: Federal Reserve System (FRS)

* 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 Town and Country Bank’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.