Bank Five Nine Mortgage Rates, Fees & InfoOconomowoc, WI
Tax ID: 39-0148000
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewBank Five Nine is a smaller bank specializing in Home Purchase loans. Bank Five Nine has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Milwaukee, Chicago, Minneapolis, Madison, and Racine among others. We have data for 44 markets. (Some data included below & more in-depth data is available with an active subscription.)
Bank Five Nine 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. Bank Five Nine 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.42%||6/7/23|
|30 Year Conventional Refi||6.49%||6/7/23|
|30 Year Cash-out Refi||6.64%||6/7/23|
|30 Year FHA Purchase||7.38%||6/7/23|
|30 Year FHA Refi||7.79%||6/7/23|
|30 Year VA Purchase||6.43%||6/7/23|
|15 Year Conventional Purchase||6.06%||6/7/23|
|15 Year Conventional Refi||5.94%||6/7/23|
|15 Year Cash-out Refi||5.94%||6/7/23|
|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.|
Bank Five Nine Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Bank Five Nine. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$400,120,000
Bank Five Nine - 2022
Bank Five Nine is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Bank Five Nine's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.11%.
Relative Fees (Closing Costs)
Bank Five Nine's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,414.
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.
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|
|MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA)||719||$217,275,000||$302,191||$3,138||4.55%|
|Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA)||124||$33,030,000||$266,371||$4,260||4.50%|
|Outside of Metro Areas||82||$25,390,000||$309,634||$3,209||4.72%|
|MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA)||64||$20,340,000||$317,813||$3,394||4.23%|
|MADISON, WI (FHA|USDA|VA)||49||$17,855,000||$364,388||$3,178||4.35%|
|RACINE, WI (FHA|USDA|VA)||62||$15,850,000||$255,645||$4,014||4.88%|
|Whitewater, WI (FHA|USDA|VA)||23||$7,935,000||$345,000||$2,976||3.68%|
|Watertown-Fort Atkinson, WI (FHA|USDA|VA)||30||$7,340,000||$244,667||$2,507||4.77%|
|Beaver Dam, WI (FHA|USDA|VA)||26||$7,070,000||$271,923||$2,746||4.52%|
|WAUSAU-WESTON, WI (FHA|USDA|VA)||37||$6,335,000||$171,216||$3,449||5.07%|
|APPLETON, WI (FHA|USDA|VA)||24||$6,320,000||$263,333||$2,622||4.53%|
|GREEN BAY, WI (FHA|USDA|VA)||24||$5,840,000||$243,333||$4,186||4.62%|
|SHEBOYGAN, WI (FHA|USDA|VA)||13||$3,545,000||$272,692||$2,550||4.36%|
|Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA)||1||$3,175,000||$3,175,000||$0||4.25%|
|PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA)||2||$2,820,000||$1,410,000||$0||6.50%|
|OSHKOSH-NEENAH, WI (FHA|USDA|VA)||13||$2,725,000||$209,615||$2,391||4.18%|
|ST. LOUIS, MO-IL (FHA|USDA|VA)||1||$2,655,000||$2,655,000||$0||5.75%|
|Enterprise, AL (FHA|USDA|VA)||1||$2,175,000||$2,175,000||$0||3.75%|
|EAU CLAIRE, WI (FHA|USDA|VA)||9||$1,885,000||$209,444||$2,734||4.28%|
|Shawano, WI (FHA|USDA|VA)||7||$1,465,000||$209,286||$2,767||5.21%|
|San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA)||1||$835,000||$835,000||$0||8.00%|
|North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)||2||$690,000||$345,000||$5,253||4.38%|
|FOND DU LAC, WI (FHA|USDA|VA)||4||$660,000||$165,000||$2,542||4.91%|
|INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA)||2||$630,000||$315,000||$2,843||4.50%|
|PEORIA, IL (FHA|USDA|VA)||1||$595,000||$595,000||$2,299||4.13%|
|DULUTH, MN-WI (FHA|USDA|VA)||2||$580,000||$290,000||$2,971||4.87%|
|Baraboo, WI (FHA|USDA|VA)||4||$510,000||$127,500||$2,128||5.09%|
|PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA)||1||$485,000||$485,000||$6,389||5.99%|
|LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA)||2||$460,000||$230,000||$2,804||4.68%|
|COLUMBUS, OH (FHA|USDA|VA)||1||$455,000||$455,000||$3,718||7.38%|
|Marinette, WI-MI (FHA|USDA|VA)||3||$345,000||$115,000||$2,025||4.92%|
|AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA)||1||$315,000||$315,000||$2,890||3.25%|
|SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA)||1||$305,000||$305,000||$4,658||5.13%|
|Platteville, WI (FHA|USDA|VA)||1||$295,000||$295,000||$3,347||5.00%|
|Stevens Point, WI (FHA|USDA|VA)||1||$285,000||$285,000||$3,086||4.25%|
|Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA)||2||$280,000||$140,000||$2,667||4.56%|
|Red Wing, MN (FHA|USDA|VA)||1||$255,000||$255,000||$3,382||5.13%|
|DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA)||1||$225,000||$225,000||$8,146||5.63%|
|MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA)||1||$225,000||$225,000||$3,510||5.88%|
|JANESVILLE-BELOIT, WI (FHA|USDA|VA)||1||$225,000||$225,000||$3,002||5.88%|
|Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA)||1||$175,000||$175,000||$0||4.25%|
|ROCKFORD, IL (FHA|USDA|VA)||1||$115,000||$115,000||$4,026||5.25%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||1||$85,000||$85,000||$3,084||4.00%|
|DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA)||1||$65,000||$65,000||$2,259||5.25%|
We use machine learning to identify the top lenders compared against Bank Five Nine based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 30
Similarity Rank: 110
Similarity Rank: 133
Similarity Rank: 140
Similarity Rank: 153
Similarity Rank: 168
Similarity Rank: 270
Similarity Rank: 325
Similarity Rank: 363
Similarity Rank: 384
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Bank Five Nine's most frequently originated type of loan was Conventional, with 1,243 originations. Their 2nd most popular type was FHA, with 89 originations.
For 2022, Bank Five Nine's most frequently cited loan purpose was Home Purchase, with 1,027 originations. The 2nd most popular reason was Cash Out Refi, with 181 originations.
For 2022, Bank Five Nine's most frequently cited loan duration was 30 Year, with 1,171 originations. The 2nd most popular length was 30+ year, with 63 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Bank Five Nine's average total fees were $3,414, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,025 originations.
During 2022, Bank Five Nine's average interest rate for loans was 4.65%, while their most frequently originated rate bucket for loans was 4-5%, with 445 originations.
2022 saw Bank Five Nine place emphasis on $200k-400k loans with 594 originations, totaling $170,180,000 in origination value.
Bank Five Nine lent most frequently to those with incomes in the $100k-150k range, with 304 originations. The second most popular income band? $50k-75k, with 283 originations.
Applicant Debt to Income Ratio
Bank Five Nine lent most frequently to those with DTI ratios of 20-30%, with 291 originations. The next most common DTI ratio? 30-36%, with 279 originations.
Approval RatesTotal approvals of all applications
Bank Five Nine has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Bank Five Nine has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2022 CPFB Complaints||% of Total Issues|
|BANK OF AMERICA, NATIONAL ASSOCIATION||Home equity loan or line of credit (HELOC)||Trouble during payment process||1||6.7%|
|BANK OF AMERICA, NATIONAL ASSOCIATION||Conventional home mortgage||Applying for a mortgage or refinancing an existing mortgage||3||20.0%|
|BANK OF AMERICA, NATIONAL ASSOCIATION||Conventional home mortgage||Closing on a mortgage||1||6.7%|
|BANK OF AMERICA, NATIONAL ASSOCIATION||Conventional home mortgage||Struggling to pay mortgage||1||6.7%|
|BANK OF AMERICA, NATIONAL ASSOCIATION||Conventional home mortgage||Trouble during payment process||7||46.7%|
|BANK OF AMERICA, NATIONAL ASSOCIATION||FHA mortgage||Struggling to pay mortgage||1||6.7%|
|BANK OF AMERICA, NATIONAL ASSOCIATION||Home equity loan or line of credit (HELOC)||Struggling to pay mortgage||1||6.7%|