Bank Five Nine Mortgage Rates, Fees & Info

Oconomowoc, WI

LEI: 254900DTLB5WWMBJAD86

Tax ID: 39-0148000

5 stars - out of 5 stars, based on 37 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Bank 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.

    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 6.42% 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 Estimates

    Estimated 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.


    Originations

    1,348

    Origination Dollar Volume (All Markets)

    $400,120,000
    Show all (9) awards

    Relative Rate

    Bank Five Nine's average 30 year fixed mortgage rate was 4.65%.

    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.

    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) 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%
    Bank Five Nine's top markets include Milwaukee, Chicago, Minneapolis, Madison, and Racine among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)

    • 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.

    First Savings Bank of Hegewisch
    Similarity Rank: 30
    Brokaw Credit Union
    Similarity Rank: 110
    Prevail Bank
    Similarity Rank: 133
    Connexus Credit Union
    Similarity Rank: 140
    Liberty Bank for Savings
    Similarity Rank: 153
    PROSPERA Credit Union
    Similarity Rank: 168
    The Stephenson National Bank and Trust
    Similarity Rank: 270
    DMB Community Bank
    Similarity Rank: 325
    UNITEDONE Credit Union
    Similarity Rank: 363
    Farmers & Merchants Savings Bank
    Similarity Rank: 384

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,243 $375,885,000 $302,401 $2,900 4.52%
    FHA 89 $18,855,000 $211,854 $7,465 5.13%
    VA 16 $5,380,000 $336,250 $8,140 4.61%

    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.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,027 $310,035,000 $301,884 $3,638 4.62%
    Cash Out Refi 181 $45,205,000 $249,751 $2,173 4.49%
    Refi 137 $42,325,000 $308,942 $2,067 4.23%
    Home Improvement 3 $2,555,000 $851,667 $1,809 6.87%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,171 $337,865,000 $288,527 $3,414 4.65%
    30+ year 63 $39,605,000 $628,651 $3,778 4.23%
    15 Year 61 $11,725,000 $192,213 $2,073 3.50%
    10 Year 28 $1,020,000 $36,429 $503 4.49%
    20 Year 18 $4,750,000 $263,889 $1,839 3.66%
    5 Year 3 $245,000 $81,667 $0 6.25%
    Other 3 $4,715,000 $1,571,667 $1,582 3.71%
    1 Year 1 $195,000 $195,000 $0 8.50%

    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
    $<1k 1,025 $290,915,000 $283,820
    $1k-2k 171 $57,365,000 $335,468
    $2k-3k 42 $10,710,000 $255,000
    $3k-4k 19 $6,475,000 $340,789
    $4k-5k 14 $4,050,000 $289,286
    $5k+ 12 $4,590,000 $382,500

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 445 $141,095,000 $317,067
    5-6% 317 $82,545,000 $260,394
    3-4% 243 $81,675,000 $336,111
    2.5-3% 191 $58,775,000 $307,723
    6-7% 128 $29,320,000 $229,063
    7-8% 15 $5,215,000 $347,667
    <2.5% 6 $1,090,000 $181,667
    Over 8% 3 $405,000 $135,000

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 594 $170,180,000 $286,498 $3,544 4.55%
    $100k-200k 374 $58,660,000 $156,845 $3,061 4.73%
    $400k-600k 209 $100,065,000 $478,780 $3,358 4.26%
    $100,000 or less 101 $6,185,000 $61,238 $1,742 4.90%
    $600k-1MM 58 $39,450,000 $680,172 $3,861 4.16%
    $1MM+ 12 $25,580,000 $2,131,667 $5,008 4.55%

    2022 saw Bank Five Nine place emphasis on $200k-400k loans with 594 originations, totaling $170,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 304 $96,460,000 $317,303 $3,251 4.33%
    $50k-75k 283 $55,235,000 $195,177 $3,446 4.74%
    $150k-250k 240 $97,590,000 $406,625 $3,347 4.49%
    $75k-100k 238 $58,290,000 $244,916 $3,301 4.63%
    $50k or less 163 $22,515,000 $138,129 $2,947 4.67%
    $250k+ 93 $49,195,000 $528,978 $3,574 4.47%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 291 $88,235,000 $303,213 $2,944 4.31%
    30-36% 279 $78,405,000 $281,022 $3,147 4.41%
    <20% 104 $30,880,000 $296,923 $2,982 4.12%
    40% 63 $15,115,000 $239,921 $3,377 4.82%
    38% 60 $16,710,000 $278,500 $2,973 4.57%
    43% 56 $15,560,000 $277,857 $3,274 4.76%
    42% 52 $17,680,000 $340,000 $3,699 4.67%
    36% 52 $14,470,000 $278,269 $3,170 4.63%
    41% 50 $12,680,000 $253,600 $3,025 4.82%
    39% 49 $14,125,000 $288,265 $3,976 5.05%
    37% 42 $11,760,000 $280,000 $3,459 4.54%
    44% 41 $10,085,000 $245,976 $3,736 4.97%
    46% 34 $9,360,000 $275,294 $3,590 4.67%
    50-60% 30 $10,120,000 $337,333 $5,453 4.99%
    45% 29 $7,825,000 $269,828 $3,708 4.85%
    47% 27 $6,785,000 $251,296 $3,581 4.78%
    48% 27 $7,265,000 $269,074 $3,845 4.94%
    49% 27 $8,365,000 $309,815 $3,926 5.18%
    >60% 7 $3,485,000 $497,857 $4,696 5.14%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,135 $322,105,000 $283,793 $3,216 4.55%
    Not provided 128 $41,290,000 $322,578 $3,618 4.54%
    Asian 42 $14,610,000 $347,857 $3,514 4.75%
    Not applicable 7 $13,345,000 $1,906,429 $0 5.32%
    Black 20 $3,840,000 $192,000 $4,167 5.09%
    Asian Indian 5 $2,335,000 $467,000 $3,265 3.65%
    American Indian 8 $1,780,000 $222,500 $4,141 4.67%
    Other Asian 2 $540,000 $270,000 $3,787 4.94%
    Filipino 1 $275,000 $275,000 $1,888 3.25%

    Approval Rates

    Total approvals of all applications
    96.20%

    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 origination
    82.49%

    Bank Five Nine has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,348 $400,120,000 $296,825

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,348 $400,120,000 $296,825

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 45 $10,355,000 $230,111 $2,193 4.81%
    40-60% 133 $40,475,000 $304,323 $2,479 4.30%
    60-80% 459 $143,885,000 $313,475 $3,042 4.47%
    80-100% 669 $198,965,000 $297,407 $3,765 4.63%
    Over 100% 4 $5,200,000 $1,300,000 $9,368 4.72%
    Under 20% 38 $1,240,000 $32,632 $636 5.17%

    Complaints

    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%