Heartland Bank and Trust Company Mortgage Interest Rate and Cost Review

Is Heartland Bank and Trust Company a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Heartland Bank and Trust Company 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 Heartland Bank and Trust Company nationally:

Review ItemHeartland Bank and Trust Company
Interest Ratesimilar to other lenders (+0.01%)
Loan Related Closing Costslower than other lenders (-$518)
National Rate and Closing Cost Star Rating(4)

On average, Heartland Bank and Trust Company’s interest rates were similar to those of other lenders (+0.01%) for a comparable set of borrowers. On the other hand, its loan related closing costs were lower than those of other lenders, with a difference of -$518. Overall, combining interest rates and closing costs we estimate that Heartland Bank and Trust Company 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 Heartland Bank and Trust Company, its website is located at: https://www.hbtbank.com.

Heartland Bank and Trust Company’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. In particular, among the cities we track Heartland Bank and Trust Company was most active in:

  1. Bloomington, IL
  2. Chicago, IL
  3. Peoria, IL
  4. Champaign, IL
  5. Ottawa, IL

You can click through to check out Heartland Bank and Trust Company’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.

Heartland Bank and Trust Company’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, Heartland Bank and Trust Company originated Conforming and FHA mortgages for new home purchases. It also originated Conforming mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConformingFHA
Interest Rate Difference+0.02%+0.00%
Loan Related Closing Cost Difference-$332-$19
Cost Adjusted Rate Difference-0.02%-0.00%
National Star Rating(3.5)(3.5)
Refinance MortgagesConforming
Interest Rate Difference+0.00%
Loan Related Closing Cost Difference-$691
Cost Adjusted Rate Difference-0.08%
Average Star Rating(4)

As a summary, Heartland Bank and Trust Company is similar to other lenders for Conforming and FHA purchase mortgages. For refinancing mortgages, Heartland Bank and Trust Company 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 Heartland Bank and Trust Company:

Registered name: Heartland Bank and Trust Company
Registered city and state: Bloomington, IL, 61704
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: HBT FINANCIAL, 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 Heartland Bank and Trust Company’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.