Prevail Bank Mortgage Rates, Fees & Info

Medford, WI

LEI: 254900OC13I9CJC7SD87

Tax ID: 39-0462655

5 stars - out of 5 stars, based on 18 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

    Prevail Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Prevail Bank has a high proportion of conventional loans. Their top markets by origination volume include: Eau Claire, Wausau, Stevens Point, Muscatine, and Wisconsin Rapids among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Prevail 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. Prevail 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 6.41% 3/27/23
    30 Year Conventional Refi 5.93% 3/27/23
    30 Year Cash-out Refi 6.49% 3/27/23
    15 Year Conventional Purchase 5.89% 3/27/23
    15 Year Conventional Refi 5.74% 3/27/23
    15 Year Cash-out Refi 5.74% 3/27/23
    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

    307

    Origination Dollar Volume (All Markets)

    $62,395,000
    Show all (11) awards

    Relative Rate

    Prevail Bank's average 30 year fixed mortgage rate was 4.31%.

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

    This yields a difference of -0.45%.

    Relative Fees (Closing Costs)

    Prevail Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,078.

    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
    Outside of Metro Areas 94 $16,370,000 $174,149 $1,737 4.04%
    EAU CLAIRE, WI (FHA|USDA|VA) 50 $10,390,000 $207,800 $1,917 4.16%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 56 $9,880,000 $176,429 $1,665 3.90%
    Stevens Point, WI (FHA|USDA|VA) 33 $7,995,000 $242,273 $1,498 4.81%
    Muscatine, IA (FHA|USDA|VA) 1 $5,115,000 $5,115,000 $0 5.80%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 37 $4,555,000 $123,108 $1,586 4.38%
    Baraboo, WI (FHA|USDA|VA) 15 $2,385,000 $159,000 $1,760 4.70%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $1,265,000 $1,265,000 $0 4.40%
    Menomonie, WI (FHA|USDA|VA) 6 $1,090,000 $181,667 $1,657 4.69%
    MADISON, WI (FHA|USDA|VA) 3 $855,000 $285,000 $2,028 4.75%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 3 $685,000 $228,333 $2,265 3.88%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $425,000 $425,000 $2,588 4.50%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $365,000 $365,000 $2,841 3.75%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $285,000 $285,000 $3,018 2.88%
    Platteville, WI (FHA|USDA|VA) 1 $185,000 $185,000 $0 4.50%
    APPLETON, WI (FHA|USDA|VA) 1 $185,000 $185,000 $2,340 2.88%
    SHEBOYGAN, WI (FHA|USDA|VA) 1 $125,000 $125,000 $1,924 3.88%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $125,000 $125,000 $3,006 4.50%
    Manitowoc, WI (FHA|USDA|VA) 1 $115,000 $115,000 $2,331 6.88%
    Prevail Bank's top markets include Eau Claire, Wausau, Stevens Point, Muscatine, and Wisconsin Rapids among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)

    • Similar Lenders

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

    Brokaw Credit Union
    Similarity Rank: 110
    Connexus Credit Union
    Similarity Rank: 140
    Security Financial Bank
    Similarity Rank: 264
    Prevail Bank
    Similarity Rank: 304
    AbbyBank
    Similarity Rank: 420
    Community First Credit Union
    Similarity Rank: 456
    CO-OP Credit Union
    Similarity Rank: 504
    Merchants Bank
    Similarity Rank: 522
    IncredibleBank
    Similarity Rank: 540
    Forward Bank
    Similarity Rank: 576

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 307 $62,395,000 $203,241 $1,747 4.22%

    For 2022, Prevail Bank's most frequently originated type of loan was Conventional, with 307 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 141 $39,055,000 $276,986 $2,373 4.55%
    Cash Out Refi 77 $14,035,000 $182,273 $1,509 3.58%
    Refi 40 $6,390,000 $159,750 $1,481 3.71%
    Home Improvement 28 $1,450,000 $51,786 $722 4.58%
    Other 21 $1,465,000 $69,762 $691 4.90%

    For 2022, Prevail Bank's most frequently cited loan purpose was Home Purchase, with 141 originations. The 2nd most popular reason was Cash Out Refi, with 77 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 129 $25,235,000 $195,620 $2,078 4.31%
    10 Year 63 $4,965,000 $78,810 $816 4.39%
    15 Year 55 $9,255,000 $168,273 $1,661 3.22%
    Other 27 $9,015,000 $333,889 $2,183 4.78%
    30+ year 14 $5,510,000 $393,571 $2,950 4.33%
    5 Year 14 $7,530,000 $537,857 $0 4.99%
    20 Year 5 $885,000 $177,000 $1,621 5.35%

    For 2022, Prevail Bank's most frequently cited loan duration was 30 Year, with 129 originations. The 2nd most popular length was 10 Year, with 63 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 271 $47,505,000 $175,295

    Prevail Bank's average total fees were $2,078, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 271 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 90 $18,160,000 $201,778
    3-4% 70 $14,680,000 $209,714
    5-6% 48 $13,540,000 $282,083
    2.5-3% 36 $6,740,000 $187,222
    <2.5% 36 $5,960,000 $165,556
    6-7% 26 $2,990,000 $115,000
    7-8% 1 $325,000 $325,000

    During 2022, Prevail Bank's average interest rate for loans was 4.31%, while their most frequently originated rate bucket for loans was 4-5%, with 90 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 114 $16,490,000 $144,649 $1,863 4.14%
    $100,000 or less 90 $5,240,000 $58,222 $1,071 4.52%
    $200k-400k 81 $22,385,000 $276,358 $2,132 3.97%
    $400k-600k 15 $6,615,000 $441,000 $2,532 4.27%
    $600k-1MM 4 $3,180,000 $795,000 $3,699 4.25%
    $1MM+ 3 $8,485,000 $2,828,333 $0 4.97%

    2022 saw Prevail Bank place emphasis on $100k-200k loans with 114 originations, totaling $16,490,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 69 $15,355,000 $222,536 $1,822 3.95%
    $50k-75k 67 $10,165,000 $151,716 $1,753 4.20%
    $50k or less 58 $5,800,000 $100,000 $1,648 4.21%
    $75k-100k 46 $7,270,000 $158,043 $1,631 4.16%
    $150k-250k 23 $6,325,000 $275,000 $1,941 4.40%
    $250k+ 7 $1,835,000 $262,143 $1,587 4.77%

    Prevail Bank lent most frequently to those with incomes in the $100k-150k range, with 69 originations. The second most popular income band? $50k-75k, with 67 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 53 $6,725,000 $126,887 $1,540 4.07%
    30-36% 49 $7,865,000 $160,510 $1,827 4.18%
    <20% 30 $4,110,000 $137,000 $1,403 3.78%
    38% 21 $3,865,000 $184,048 $1,786 4.16%
    50-60% 18 $4,380,000 $243,333 $1,690 3.81%
    42% 14 $2,730,000 $195,000 $1,963 4.42%
    39% 10 $2,440,000 $244,000 $1,963 4.14%
    41% 10 $1,920,000 $192,000 $2,129 4.11%
    44% 10 $2,480,000 $248,000 $1,978 4.30%
    43% 8 $1,890,000 $236,250 $1,957 4.08%
    45% 7 $1,005,000 $143,571 $1,361 4.32%
    36% 7 $905,000 $129,286 $1,490 4.63%
    40% 6 $1,640,000 $273,333 $2,136 4.33%
    >60% 6 $1,650,000 $275,000 $1,642 3.98%
    47% 5 $1,275,000 $255,000 $2,521 4.55%
    48% 4 $710,000 $177,500 $2,329 4.06%
    37% 4 $570,000 $142,500 $1,522 4.75%
    49% 3 $385,000 $128,333 $1,975 4.13%

    Prevail Bank lent most frequently to those with DTI ratios of 20-30%, with 53 originations. The next most common DTI ratio? 30-36%, with 49 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 260 $44,910,000 $172,731 $1,730 4.18%
    Not applicable 29 $14,095,000 $486,034 $0 4.94%
    Not provided 10 $2,020,000 $202,000 $1,916 3.77%
    Asian 7 $1,085,000 $155,000 $1,939 3.46%
    American Indian 1 $285,000 $285,000 $3,018 2.88%

    Approval Rates

    Total approvals of all applications
    92.86%

    Prevail Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.93%

    Prevail Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 307 $62,395,000 $203,241

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    307 $62,395,000 $203,241

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 40 $7,190,000 $179,750 $1,115 4.20%
    40-60% 60 $9,780,000 $163,000 $1,714 3.61%
    60-80% 107 $29,915,000 $279,579 $2,070 4.25%
    80-100% 65 $13,915,000 $214,077 $2,265 4.40%
    Under 20% 35 $1,595,000 $45,571 $588 4.88%