# First American Bank

> **Canonical URL:** https://saferate.com/lenders/first-american-bank-il


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


First American Bank is a bank, headquartered in Elk Grove Village, IL, serving borrowers across 12 states, with 264 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 22% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 60% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** XC7Z0BA39TU7L1AKOJ12
- **Headquarters:** Elk Grove Village, IL
- **Geographic Reach:** Multi-Region
- **States Served:** 12
- **State List:** AZ, FL, IL, IN, KY, MI, MO, NC, NH, NJ, VA, WI
- **Markets (MSAs):** 5
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Strong 😀
- Score: 78/100
- Rating: ●●●●○ (4/5)

### Pull Through: Sound ☺️
- Score: 40/100
- Rating: ●●●○○ (3/5)

### Pricing Details
- **Average Rate Spread:** +0.138%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $1,203
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 264
- **Dollar Volume:** $69 million
- **Applications Received:** 515
- **Market Share:** 1.00%

## Typical Borrower Profile

- **Average Loan Amount:** $260,152
- **Average Borrower Income:** $165,193
- **Average Property Value:** $456,061

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 57/100 | 264 | +0.138% | $1,203 | Sound ☺️ |

### Product Performance by Purpose

**Conventional:**
- Purchase: 143 loans, Score: 40/100 (Acceptable)
- Refinance: 121 loans, Score: 60/100 (Sound)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 39/100 | 143 | $43M | +0.188% | Acceptable 🙂 |
| Refinance | 57/100 | 121 | $26M | +0.077% | Sound ☺️ |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| IL | 206 | 0.17% | 75/100 |
| WI | 25 | 0.04% | 51/100 |
| FL | 15 | 0.01% | 40/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Chicago | IL | 141 | 72/100 |
| Elgin, IL | IL | 27 | 60/100 |
| Lake County, IL | IL | 22 | 60/100 |
| Kankakee, IL | IL | 12 | 54/100 |
| Non |  | 12 | 24/100 |

## Where This Lender Ranks

First American Bank appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🏆 **#5** in Kankakee, IL for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/kankakee-il/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#13** in Elgin, IL Banks
  - [View Full Rankings](https://saferate.com/elgin-il/best-mortgage-lenders/banks)
- 🏆 **#13** in Lake County, IL Banks
  - [View Full Rankings](https://saferate.com/lake-county-il/best-mortgage-lenders/banks)
- 🏆 **#14** in Kankakee, IL for Conventional Loans
  - [View Full Rankings](https://saferate.com/kankakee-il/best-mortgage-lenders/conventional-loans)
- 🏆 **#16** in Elgin, IL for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/elgin-il/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#17** in Lake County, IL for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/lake-county-il/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#18** in Chicago Banks
  - [View Full Rankings](https://saferate.com/chicago/best-mortgage-lenders/banks)
- 🏆 **#20** in Chicago for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/chicago/best-mortgage-lenders/banks/conventional-loans)

## Frequently Asked Questions

### What loan types does First American Bank offer?

First American Bank offers the following mortgage loan types: Conventional. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does First American Bank offer mortgages?

First American Bank offers mortgages in 12 states: AZ, FL, IL, IN, KY, MI, MO, NC, NH, NJ, VA, WI.

### How competitive are First American Bank's mortgage rates?

First American Bank has a pricing score of 78/100 (Strong), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.138% above market average.

### What type of lender is First American Bank?

First American Bank is a federally or state-chartered bank that offers mortgage lending as part of its broader banking services, headquartered in Elk Grove Village, IL.

### What is First American Bank's loan approval success rate?

First American Bank has a pull-through score of 40/100 (Sound). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/first-american-bank-il

### How to Cite

> "First American Bank Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/first-american-bank-il

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