PlainLender

Bank of Springfield

Springfield, IL

Bank of Springfield processed 1,064 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 852 loans with a 7.3% denial rate. Home Purchase was the primary loan purpose. Based in Springfield, IL. The approval rate of 80.1% reflects originated loans as a share of all applications. Below you will find a breakdown by loan type, loan purpose, denial reasons, and demographic lending patterns as required by the Home Mortgage Disclosure Act.

Portfolio scale. Bank of Springfield processed 1,064 HMDA-reported mortgage applications in 2024, originating 852 loans and denying 78 for a denial rate of 7.3% (applicants themselves withdrew 121 files before a decision). The average loan amount was $260,592 at a 7.127% average note rate, and applicants self-reported an average income of $33,000. The lender reports under LEI 549300XAJENHWRM32Z86 from Springfield, IL.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% — HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Bank of Springfield's 80.1% origination rate tells you how often an application turned into funded money; the 7.3% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit history, Other, which together explain the majority of rejections. Most activity concentrated in Conventional loans (1,008 applications).

How to read this page. These figures are aggregate HMDA disclosures — they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting — it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

1,064
Applications
852
Originated
7.3%
Denial Rate
$260,592
Avg Loan Amount
Avg Interest Rate: 7.127% Avg Applicant Income: $33,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,008 816 64 $261,131
FHA 28 17 8 $191,429
VA 28 19 6 $310,357

Top loan types — Bank of Springfield

Top loan types — Bank of Springfield Horizontal bar chart of the top 3 items by value (applications). Top loan types — Bank of Springfield Top 3 1. Conventional 1,008 2. FHA 28 3. VA 28 Top 5 loan types by application volume at Bank of Springfield (HMDA 2023). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for Bank of Springfield (LEI: 549300XAJENHWRM32Z86) · 2023 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
49
Credit history
40
Other
10
Collateral
5
Insufficient cash
4
Employment history
4

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 787 660 $277,897
Refinancing 149 112 $261,376
Cash-out Refinancing 64 26 $184,531
Home Improvement 35 32 $166,429
Other 29 22 $68,448

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 793 80.3% 6.7%
Black or African American 33 54.5% 33.3%
Asian 29 79.3% 6.9%
Joint 16 62.5% 0.0%
American Indian or Alaska Native 4 25.0% 25.0%
2 or more minority races 2 50.0% 50.0%

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 856 78.6% 7.6%
Joint 19 68.4% 10.5%
Hispanic or Latino 10 70.0% 20.0%

Nearby Lenders in IL

Other HMDA-reporting lenders in IL with similar activity. Compare any two side-by-side.

GUARANTEED RATE, INC.

CHICAGO, IL

124,492 apps 62,820 originated 5.1% denied

BMO Harris Bank NA

Chicago, IL

42,165 apps 18,166 originated 29.4% denied

Mutual of Omaha Mortgage

Lombard, IL

34,393 apps 19,951 originated 20.2% denied

GUARANTEED RATE AFFINITY, LLC

CHICAGO, IL

21,826 apps 14,587 originated 6.0% denied

THE FEDERAL SAVINGS BANK

CHICAGO, IL

20,656 apps 8,146 originated 9.3% denied
Compare Bank of Springfield vs GUARANTEED RATE, INC. →

Mortgage Lending Guides

Why Mortgages Get Denied
Common denial reasons and how to improve your chances
Comparing Mortgage Lenders
What to look for when choosing a mortgage lender
Getting the Best Mortgage Rate
Strategies for securing the lowest interest rate
Understanding HMDA Data
How to read and interpret mortgage disclosure data
Denial Rates by Demographics
Demographic patterns in mortgage approval and denial

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Frequently Asked Questions

How many mortgage applications did Bank of Springfield process?
Bank of Springfield processed 1,064 mortgage applications in the 2023 HMDA reporting year. Of these, 852 were originated (approved and funded), 121 were withdrawn by the applicant, and 78 were denied.
What is Bank of Springfield's mortgage approval rate?
Bank of Springfield has an approval (origination) rate of 80.1%, meaning 80.1% of all applications resulted in a funded mortgage. The denial rate is 7.3%.
What is the average loan amount at Bank of Springfield?
The average mortgage loan amount at Bank of Springfield is $260,592. The average interest rate is 7.127%. The average applicant income is $33,000.
What are the most common reasons for mortgage denial at Bank of Springfield?
The most common reasons for mortgage denial at Bank of Springfield are: Debt-to-income ratio, Credit history, Other. In total, 78 applications were denied out of 1,064 total applications.
What types of mortgage loans does Bank of Springfield offer?
Bank of Springfield processes Conventional, FHA, VA loans. The most common type is Conventional with 1,008 applications and an average loan amount of $261,131.
What loan purposes does Bank of Springfield serve?
Bank of Springfield serves the following loan purposes: Home Purchase (787 applications), Refinancing (149 applications), Cash-out Refinancing (64 applications), Home Improvement (35 applications), Other (29 applications). Home Purchase is the most common purpose.
Where is Bank of Springfield located?
Bank of Springfield is headquartered in Springfield, IL. The lender is identified by LEI 549300XAJENHWRM32Z86 in HMDA data.
How does Bank of Springfield compare in lending across racial demographics?
Bank of Springfield reports demographic lending data under HMDA requirements. White applicants have an approval rate of 80.3% and denial rate of 6.7%; Black or African American applicants have an approval rate of 54.5% and denial rate of 33.3%; Asian applicants have an approval rate of 79.3% and denial rate of 6.9%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology — how this data is sourced, computed, and verified.