Blackhawk Bank is a community bank that offers mortgage products alongside traditional banking services. They focus on regional lending and provide conventional and government-backed mortgage options.
See today’s mortgage interest rates on True Rate.
How Blackhawk Bank and Trust compares to other lenders
| Headquarters | Milan, Illinois |
| Website | ttps://www.choosethechief.com/ |
| Rate | 0.20% higher than the median rate |
| Lender fees | $1,095 (median on Blackhawk Bank and Trust loans) |
| Added cost after 1 year, compared to the median interest rate | $102 |
| Added cost after 10 years, compared to the median interest rate | $5,765 |
| Added cost after 1 year (vs. Tomo Mortgage) | $2,427 |
| Added cost after 10 years (vs. Tomo Mortgage) | $14,411 |
For a $400,000 mortgage, Blackhawk Bank and Trust’s rates—about 0.20% higher than the market median—and with $1,095 in lender fees, borrowers are typically paying approximately $102 more in the first year and about $5,765 more over 10 years compared to a typical lender.
What customers are saying
Customer reviews of Blackhawk Bank & Trust’s mortgage services, headquartered in Milan, Illinois, reveal predominantly negative experiences with occasional positive feedback.
Some borrowers appreciated the bank’s competitive interest rates and local presence. Customers noted that Blackhawk Bank & Trust offers a variety of financial services, including mortgages, and provides convenient access to branches and online banking tools.
Complaints frequently center on poor customer service and operational inefficiencies. Borrowers reported issues such as delays in processing mortgage payments, disorganized handling of paperwork, and unresponsive staff. For example, one customer shared that a hold was placed on a deposited check for seven days, resulting in overdrafts and late mortgage payments, causing financial stress.
Other reviews highlighted deceptive practices, such as creating overdrafts or unexpected fees, leading to dissatisfaction. Customers also expressed frustration with the bank’s fraud alert system, which blocked transactions without notifying account holders, causing disruptions to recurring payments like car loans or subscriptions.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our True Rate Methodology
If you’re ready to start your journey to homeownership, get pre approved with Tomo Mortgage today.