Bank Five Nine Mortgage Rates, Fees & Info
Oconomowoc, WILEI: 254900DTLB5WWMBJAD86
Tax ID: 39-0148000
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Mortgage Data
Review & Overview
Bank Five Nine is a smaller bank specializing in Home Purchase loans. Bank Five Nine has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Milwaukee, Chicago, Racine, Minneapolis, and Madison among others. We have data for 54 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.00% | 4/5/25 |
| 30 Year Conventional Refi | 6.78% | 4/5/25 |
| 30 Year Cash-out Refi | 7.10% | 4/5/25 |
| 30 Year FHA Purchase | 7.24% | 4/5/25 |
| 30 Year FHA Refi | 7.01% | 4/5/25 |
| 30 Year VA Purchase | 6.33% | 4/5/25 |
| 30 Year VA Refi | 6.00% | 4/5/25 |
| 15 Year Conventional Purchase | 6.29% | 4/5/25 |
| 15 Year Conventional Refi | 6.02% | 4/5/25 |
| 15 Year Cash-out Refi | 6.02% | 4/5/25 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,197Origination Dollar Volume (All Markets)
$363,765,000Awards
Bank Five Nine - 2024
Bank Five Nine is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Bank Five Nine's average 30 year fixed mortgage rate was
6.82%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.27%.
Relative Fees (Closing Costs)
Bank Five Nine's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,052.
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 $8,356.
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 |
|---|---|---|---|---|---|
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 623 | $178,135,000 | $285,931 | $3,723 | 6.87% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 99 | $26,885,000 | $271,566 | $4,338 | 6.65% |
| RACINE, WI (FHA|USDA|VA) | 90 | $21,890,000 | $243,222 | $4,484 | 6.59% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 60 | $20,400,000 | $340,000 | $4,598 | 6.85% |
| Outside of Metro Areas | 60 | $16,620,000 | $277,000 | $3,443 | 6.93% |
| MADISON, WI (FHA|USDA|VA) | 37 | $13,265,000 | $358,514 | $3,665 | 6.63% |
| APPLETON, WI (FHA|USDA|VA) | 29 | $8,445,000 | $291,207 | $3,790 | 6.89% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 1 | $7,405,000 | $7,405,000 | $0 | 9.00% |
| Whitewater, WI (FHA|USDA|VA) | 15 | $5,905,000 | $393,667 | $3,327 | 6.82% |
| GREEN BAY, WI (FHA|USDA|VA) | 28 | $5,830,000 | $208,214 | $3,680 | 6.36% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 23 | $5,295,000 | $230,217 | $4,080 | 6.70% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 19 | $5,075,000 | $267,105 | $3,937 | 7.09% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $4,925,000 | $4,925,000 | $0 | 9.50% |
| SHEBOYGAN, WI (FHA|USDA|VA) | 10 | $3,100,000 | $310,000 | $5,400 | 6.93% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $2,755,000 | $2,755,000 | $0 | 9.00% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 12 | $2,680,000 | $223,333 | $4,796 | 6.21% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 5 | $2,545,000 | $509,000 | $3,797 | 6.77% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $2,535,000 | $845,000 | $9,435 | 7.58% |
| FOND DU LAC, WI (FHA|USDA|VA) | 8 | $2,490,000 | $311,250 | $4,483 | 6.61% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 11 | $2,435,000 | $221,364 | $3,735 | 7.19% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $2,355,000 | $2,355,000 | $0 | 9.50% |
| Beaver Dam, WI (FHA|USDA|VA) | 6 | $2,290,000 | $381,667 | $3,913 | 7.12% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $2,185,000 | $2,185,000 | $0 | 10.00% |
| Fort Payne, AL (FHA|USDA|VA) | 1 | $1,705,000 | $1,705,000 | $0 | 9.50% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $1,705,000 | $1,705,000 | $0 | 9.50% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 3 | $1,455,000 | $485,000 | $4,762 | 7.16% |
| DALTON, GA (FHA|USDA|VA) | 2 | $1,250,000 | $625,000 | $0 | 8.75% |
| Stevens Point, WI (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $7,372 | 6.34% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $965,000 | $965,000 | $0 | 9.75% |
| Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) | 4 | $950,000 | $237,500 | $4,552 | 6.66% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $5,275 | 6.91% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $0 | 7.50% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $2,984 | 6.88% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $2,595 | 7.38% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $7,628 | 8.13% |
| Manitowoc, WI (FHA|USDA|VA) | 6 | $530,000 | $88,333 | $2,502 | 6.19% |
| Shawano, WI (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $3,807 | 6.75% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $3,425 | 6.50% |
| Marinette, WI-MI (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $2,773 | 6.50% |
| LAWRENCE, KS (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $2,644 | 8.13% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,756 | 6.99% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,464 | 7.13% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,223 | 6.63% |
| Baraboo, WI (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $3,217 | 7.19% |
| EAU CLAIRE, WI (FHA|USDA|VA) | 3 | $345,000 | $115,000 | $2,210 | 8.23% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,501 | 6.49% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 7.50% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,970 | 6.88% |
| Houghton, MI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,720 | 7.00% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,137 | 6.63% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 7.13% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 6.88% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,935 | 6.38% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,432 | 6.50% |
Similar Lenders
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,038 | $314,580,000 | $303,064 | $3,313 | 6.91% |
| FHA | 99 | $26,085,000 | $263,485 | $8,313 | 6.40% |
| VA | 60 | $23,100,000 | $385,000 | $6,356 | 6.19% |
For 2024, Bank Five Nine's most frequently originated type of loan was Conventional, with 1,038 originations. Their 2nd most popular type was FHA, with 99 originations.
Loan Reason
For 2024, Bank Five Nine's most frequently cited loan purpose was Home Purchase, with 1,010 originations. The 2nd most popular reason was Refi, with 103 originations.
Loan Duration/Length
For 2024, Bank Five Nine's most frequently cited loan duration was 30 Year, with 1,104 originations. The 2nd most popular length was 30+ year, with 32 originations.
Origination Fees/Closing Costs
Bank Five Nine's average total fees were $4,052, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,017 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 681 | $189,605,000 | $278,421 |
| 7-8% | 278 | $91,490,000 | $329,101 |
| 5-6% | 153 | $33,555,000 | $219,314 |
| Over 8% | 84 | $48,950,000 | $582,738 |
| 4-5% | 1 | $165,000 | $165,000 |
During 2024, Bank Five Nine's average interest rate for loans was 6.82%, while their most frequently originated rate bucket for loans was 6-7%, with 681 originations.
Loan Sizing
2024 saw Bank Five Nine place emphasis on $200k-400k loans with 610 originations, totaling $174,760,000 in origination value.
Applicant Income
Bank Five Nine lent most frequently to those with incomes in the $100k-150k range, with 281 originations. The second most popular income band? $50k-75k, with 268 originations.
Applicant Debt to Income Ratio
Bank Five Nine lent most frequently to those with DTI ratios of 30-36%, with 221 originations. The next most common DTI ratio? 20-30%, with 183 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.14%
Bank Five Nine has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination79.62%
Bank Five Nine has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,197 | $363,765,000 | $303,897 |