The Greenwood's State Bank Mortgage Rates, Fees & Info

Lake Mills, WI

LEI: 2549006HGDHH72X1BE36

Tax ID: 39-0320310

5 stars - out of 5 stars, based on 12 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    The Greenwood's State Bank is a smaller bank specializing in loans. The Greenwood's State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Whitewater, Racine, Mansfield, Milwaukee, and Little Rock among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Greenwood's State Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. The Greenwood's State Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.70% 3/23/23
    30 Year Conventional Refi 6.68% 3/23/23
    30 Year Cash-out Refi 6.54% 3/23/23
    15 Year Conventional Purchase 6.24% 3/23/23
    15 Year Conventional Refi 5.89% 3/23/23
    15 Year Cash-out Refi 5.89% 3/23/23
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    Originations

    151

    Origination Dollar Volume (All Markets)

    $68,895,000
    Show all (14) awards

    Relative Rate

    The Greenwood's State Bank's average 30 year fixed mortgage rate was 4.92%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.16%.

    Relative Fees (Closing Costs)

    The Greenwood's State Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $1,870.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    Whitewater, WI (FHA|USDA|VA) 41 $13,405,000 $326,951 $2,580 4.88%
    RACINE, WI (FHA|USDA|VA) 18 $13,210,000 $733,889 $1,841 4.48%
    Outside of Metro Areas 7 $4,935,000 $705,000 $1,746 5.14%
    MANSFIELD, OH (FHA|USDA|VA) 1 $4,805,000 $4,805,000 $0 3.65%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 16 $4,650,000 $290,625 $1,989 4.82%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $4,005,000 $4,005,000 $20,775 3.95%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 22 $3,910,000 $177,727 $1,684 4.65%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 10 $3,820,000 $382,000 $4,973 5.64%
    Greenville, OH (FHA|USDA|VA) 1 $3,605,000 $3,605,000 $0 3.75%
    TULSA, OK (FHA|USDA|VA) 2 $3,260,000 $1,630,000 $0 4.90%
    Marshall, MN (FHA|USDA|VA) 2 $2,890,000 $1,445,000 $0 3.50%
    MADISON, WI (FHA|USDA|VA) 12 $2,210,000 $184,167 $2,083 5.38%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 12 $2,190,000 $182,500 $2,163 4.38%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $1,355,000 $1,355,000 $0 4.00%
    GREEN BAY, WI (FHA|USDA|VA) 1 $225,000 $225,000 $1,227 3.00%
    Menomonie, WI (FHA|USDA|VA) 2 $200,000 $100,000 $0 5.00%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $145,000 $145,000 $3,755 6.75%
    Platteville, WI (FHA|USDA|VA) 1 $75,000 $75,000 $0 5.25%
    The Greenwood's State Bank's top markets include Whitewater, Racine, Mansfield, Milwaukee, and Little Rock among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against The Greenwood's State Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SENB Bank
    Similarity Rank: 253
    DMB Community Bank
    Similarity Rank: 325
    NORTHWESTERN MUTUAL
    Similarity Rank: 469
    Starion Bank
    Similarity Rank: 550
    Mound City Bank
    Similarity Rank: 644
    Bank of Sun Prairie
    Similarity Rank: 660
    Monona Bank
    Similarity Rank: 793
    PyraMax Bank, FSB
    Similarity Rank: 825
    Westbury Bank
    Similarity Rank: 954
    Royal Bank
    Similarity Rank: 972

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 151 $68,895,000 $456,258 $2,431 4.81%

    For 2022, The Greenwood's State Bank's most frequently originated type of loan was Conventional, with 151 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 87 $46,425,000 $533,621 $2,669 5.04%
    Refi 30 $12,320,000 $410,667 $2,090 4.61%
    Cash Out Refi 20 $4,310,000 $215,500 $1,652 3.96%
    Other 10 $5,350,000 $535,000 $3,749 4.88%
    Home Improvement 4 $490,000 $122,500 $874 5.47%

    For 2022, The Greenwood's State Bank's most frequently cited loan purpose was Home Purchase, with 87 originations. The 2nd most popular reason was Refi, with 30 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 56 $13,680,000 $244,286 $1,870 4.92%
    Other 35 $28,805,000 $823,000 $4,184 5.03%
    5 Year 29 $20,505,000 $707,069 $1,942 4.79%
    15 Year 20 $3,260,000 $163,000 $1,722 4.09%
    20 Year 6 $1,030,000 $171,667 $1,574 5.56%
    10 Year 3 $365,000 $121,667 $1,488 4.29%
    3 Year 2 $1,250,000 $625,000 $0 4.13%

    For 2022, The Greenwood's State Bank's most frequently cited loan duration was 30 Year, with 56 originations. The 2nd most popular length was Other, with 35 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 83 $17,685,000 $213,072
    $2k-3k 12 $5,610,000 $467,500
    $1k-2k 6 $920,000 $153,333
    $3k-4k 4 $1,950,000 $487,500
    $5k+ 4 $7,590,000 $1,897,500

    The Greenwood's State Bank's average total fees were $1,870, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 83 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 50 $24,240,000 $484,800
    3-4% 36 $29,730,000 $825,833
    5-6% 34 $8,870,000 $260,882
    6-7% 19 $3,975,000 $209,211
    2.5-3% 7 $1,105,000 $157,857
    7-8% 3 $745,000 $248,333
    <2.5% 2 $230,000 $115,000

    During 2022, The Greenwood's State Bank's average interest rate for loans was 4.92%, while their most frequently originated rate bucket for loans was 4-5%, with 50 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 53 $8,205,000 $154,811 $1,994 4.88%
    $200k-400k 45 $12,335,000 $274,111 $1,903 4.82%
    $100,000 or less 23 $1,535,000 $66,739 $1,411 5.14%
    $1MM+ 12 $36,070,000 $3,005,833 $10,438 4.36%
    $400k-600k 11 $5,325,000 $484,091 $4,003 4.44%
    $600k-1MM 7 $5,425,000 $775,000 $3,702 4.60%

    2022 saw The Greenwood's State Bank place emphasis on $100k-200k loans with 53 originations, totaling $8,205,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 26 $5,540,000 $213,077 $2,468 4.94%
    $150k-250k 24 $6,980,000 $290,833 $2,047 5.11%
    $75k-100k 24 $4,780,000 $199,167 $1,965 4.80%
    $250k+ 17 $13,975,000 $822,059 $5,116 4.60%
    $50k-75k 17 $2,755,000 $162,059 $1,530 4.37%
    $50k or less 10 $1,470,000 $147,000 $1,585 4.40%

    The Greenwood's State Bank lent most frequently to those with incomes in the $100k-150k range, with 26 originations. The second most popular income band? $150k-250k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 32 $7,390,000 $230,938 $1,912 4.78%
    30-36% 19 $4,795,000 $252,368 $2,535 4.71%
    <20% 19 $9,395,000 $494,474 $3,127 4.61%
    41% 8 $2,250,000 $281,250 $2,097 4.17%
    37% 6 $1,710,000 $285,000 $3,095 4.73%
    42% 5 $3,165,000 $633,000 $4,394 4.83%
    38% 4 $530,000 $132,500 $2,746 5.03%
    43% 4 $1,800,000 $450,000 $2,913 4.31%
    44% 2 $220,000 $110,000 $1,097 5.38%
    39% 2 $360,000 $180,000 $1,776 6.94%
    46% 2 $470,000 $235,000 $1,830 4.06%
    48% 2 $330,000 $165,000 $1,632 5.81%
    47% 2 $580,000 $290,000 $1,988 4.47%
    50-60% 2 $330,000 $165,000 $1,101 4.50%
    45% 1 $285,000 $285,000 $1,477 4.13%
    40% 1 $225,000 $225,000 $1,383 5.63%

    The Greenwood's State Bank lent most frequently to those with DTI ratios of 20-30%, with 32 originations. The next most common DTI ratio? 30-36%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 110 $33,920,000 $308,364 $2,485 4.74%
    Not applicable 35 $33,655,000 $961,571 $0 5.08%
    Not provided 6 $1,320,000 $220,000 $1,505 4.58%

    Approval Rates

    Total approvals of all applications
    91.80%

    The Greenwood's State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.40%

    The Greenwood's State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 151 $68,895,000 $456,258

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    151 $68,895,000 $456,258

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 20 $5,120,000 $256,000 $1,602 4.77%
    40-60% 26 $9,640,000 $370,769 $2,399 4.52%
    60-80% 66 $37,920,000 $574,545 $2,617 4.82%
    80-100% 28 $15,210,000 $543,214 $2,934 4.81%
    Over 100% 1 $315,000 $315,000 $0 5.75%
    Under 20% 10 $690,000 $69,000 $1,339 5.50%