Fortifi Bank Mortgage Rates, Fees & Info

Berlin, WI

LEI: 254900TQL77TN5I01K05

Tax ID: 39-0280510

5 stars - out of 5 stars, based on 17 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

    Fortifi Bank is a smaller bank specializing in loans. Fortifi Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Green Bay, Oshkosh, Madison, Fond Du Lac, and Appleton among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Fortifi 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. Fortifi 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 6.62% 3/27/23
    30 Year Conventional Refi 6.43% 3/27/23
    30 Year Cash-out Refi 6.62% 3/27/23
    30 Year USDA Purchase 7.03% 3/27/23
    15 Year Conventional Purchase 5.57% 3/27/23
    15 Year Conventional Refi 5.65% 3/27/23
    15 Year Cash-out Refi 5.65% 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

    289

    Origination Dollar Volume (All Markets)

    $65,935,000
    Show all (8) awards

    Relative Rate

    Fortifi Bank's average 30 year fixed mortgage rate was 4.95%.

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

    This yields a difference of 0.19%.

    Relative Fees (Closing Costs)

    Fortifi Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $1,976.

    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 141 $22,625,000 $160,461 $1,709 5.26%
    GREEN BAY, WI (FHA|USDA|VA) 38 $12,150,000 $319,737 $1,834 4.98%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 40 $8,550,000 $213,750 $1,703 5.26%
    MADISON, WI (FHA|USDA|VA) 20 $6,430,000 $321,500 $1,492 4.88%
    FOND DU LAC, WI (FHA|USDA|VA) 20 $3,320,000 $166,000 $1,656 5.62%
    APPLETON, WI (FHA|USDA|VA) 8 $2,040,000 $255,000 $1,929 4.72%
    Bozeman, MT (FHA|USDA|VA) 1 $2,005,000 $2,005,000 $7,813 6.55%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $1,985,000 $661,667 $4,406 5.20%
    Shawano, WI (FHA|USDA|VA) 2 $1,540,000 $770,000 $1,097 5.13%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $1,010,000 $505,000 $3,091 4.00%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $940,000 $470,000 $3,584 4.00%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $650,000 $325,000 $1,717 4.19%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $515,000 $515,000 $2,602 2.63%
    Beaver Dam, WI (FHA|USDA|VA) 1 $495,000 $495,000 $2,967 5.75%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $365,000 $365,000 $3,972 4.99%
    Baraboo, WI (FHA|USDA|VA) 1 $315,000 $315,000 $1,475 2.63%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $315,000 $315,000 $2,792 4.88%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $285,000 $285,000 $2,254 5.45%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $210,000 $105,000 $1,014 5.22%
    SHEBOYGAN, WI (FHA|USDA|VA) 1 $145,000 $145,000 $0 4.85%
    Marinette, WI-MI (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.00%
    Fortifi Bank's top markets include Green Bay, Oshkosh, Madison, Fond Du Lac, and Appleton among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Montana (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)

    • Similar Lenders

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

    FOND DU LAC
    Similarity Rank: 96
    PROSPERA Credit Union
    Similarity Rank: 168
    Westbury Bank
    Similarity Rank: 180
    The Stephenson National Bank and Trust
    Similarity Rank: 270
    DMB Community Bank
    Similarity Rank: 325
    Wolf River Community Bank
    Similarity Rank: 405
    Fox Valley Savings Bank
    Similarity Rank: 430
    The Greenwood's State Bank
    Similarity Rank: 450
    The Bank of Kaukauna
    Similarity Rank: 484
    Bank of Luxemburg
    Similarity Rank: 513

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 287 $65,575,000 $228,484 $1,794 5.17%
    USDA 2 $360,000 $180,000 $4,431 5.56%

    For 2022, Fortifi Bank's most frequently originated type of loan was Conventional, with 287 originations. Their 2nd most popular type was USDA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 147 $36,605,000 $249,014 $2,234 5.30%
    Cash Out Refi 54 $11,280,000 $208,889 $1,434 4.79%
    Refi 43 $12,035,000 $279,884 $1,875 4.60%
    Other 24 $4,550,000 $189,583 $1,500 5.48%
    Home Improvement 21 $1,465,000 $69,762 $457 6.05%

    For 2022, Fortifi Bank's most frequently cited loan purpose was Home Purchase, with 147 originations. The 2nd most popular reason was Cash Out Refi, with 54 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 123 $27,985,000 $227,520 $1,976 4.95%
    Other 90 $17,560,000 $195,111 $1,328 5.59%
    3 Year 34 $8,830,000 $259,706 $0 5.81%
    15 Year 22 $6,380,000 $290,000 $2,865 3.94%
    20 Year 9 $1,945,000 $216,111 $1,831 4.68%
    5 Year 9 $2,885,000 $320,556 $402 5.29%
    10 Year 2 $350,000 $175,000 $1,665 3.56%

    For 2022, Fortifi Bank's most frequently cited loan duration was 30 Year, with 123 originations. The 2nd most popular length was Other, with 90 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 225 $46,585,000 $207,044
    $1k-2k 3 $3,625,000 $1,208,333
    $5k+ 1 $485,000 $485,000

    Fortifi Bank's average total fees were $1,976, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 225 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 83 $21,255,000 $256,084
    5-6% 81 $16,705,000 $206,235
    6-7% 59 $11,095,000 $188,051
    3-4% 45 $11,425,000 $253,889
    7-8% 11 $1,055,000 $95,909
    2.5-3% 8 $3,530,000 $441,250
    <2.5% 2 $870,000 $435,000

    During 2022, Fortifi Bank's average interest rate for loans was 4.95%, while their most frequently originated rate bucket for loans was 4-5%, with 83 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 89 $12,605,000 $141,629 $1,880 5.29%
    $100,000 or less 80 $4,540,000 $56,750 $982 5.61%
    $200k-400k 78 $22,750,000 $291,667 $2,164 4.90%
    $400k-600k 27 $13,055,000 $483,519 $2,372 4.49%
    $600k-1MM 12 $8,510,000 $709,167 $3,089 4.37%
    $1MM+ 3 $4,475,000 $1,491,667 $7,813 5.85%

    2022 saw Fortifi Bank place emphasis on $100k-200k loans with 89 originations, totaling $12,605,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 54 $6,590,000 $122,037 $1,538 5.11%
    $50k or less 49 $4,725,000 $96,429 $1,603 5.05%
    $75k-100k 41 $7,725,000 $188,415 $1,703 5.28%
    $100k-150k 39 $10,025,000 $257,051 $1,790 5.37%
    $150k-250k 29 $8,045,000 $277,414 $2,140 4.87%
    $250k+ 29 $14,515,000 $500,517 $2,574 4.50%

    Fortifi Bank lent most frequently to those with incomes in the $50k-75k range, with 54 originations. The second most popular income band? $50k or less, with 49 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 50 $10,070,000 $201,400 $1,616 5.03%
    30-36% 49 $9,885,000 $201,735 $1,673 5.13%
    <20% 21 $4,305,000 $205,000 $1,834 4.85%
    38% 17 $3,575,000 $210,294 $1,719 5.65%
    44% 15 $3,125,000 $208,333 $1,636 5.14%
    48% 10 $2,580,000 $258,000 $2,030 5.06%
    42% 9 $2,885,000 $320,556 $2,458 5.12%
    43% 9 $1,135,000 $126,111 $1,771 5.34%
    37% 8 $1,360,000 $170,000 $1,269 4.70%
    39% 8 $2,060,000 $257,500 $4,034 5.13%
    45% 7 $1,505,000 $215,000 $1,999 4.56%
    49% 7 $2,135,000 $305,000 $1,686 4.49%
    40% 7 $1,365,000 $195,000 $1,235 5.36%
    47% 7 $1,235,000 $176,429 $1,288 5.46%
    36% 7 $3,095,000 $442,143 $3,512 4.95%
    >60% 6 $1,390,000 $231,667 $2,213 4.73%
    50-60% 5 $515,000 $103,000 $913 5.04%
    46% 4 $750,000 $187,500 $1,734 4.38%
    41% 4 $590,000 $147,500 $1,597 5.97%

    Fortifi Bank lent most frequently to those with DTI ratios of 20-30%, with 50 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 217 $47,635,000 $219,516 $1,808 5.04%
    Not applicable 39 $11,865,000 $304,231 $0 5.77%
    Not provided 32 $6,200,000 $193,750 $1,757 5.26%
    American Indian 1 $235,000 $235,000 $5,153 6.13%

    Approval Rates

    Total approvals of all applications
    95.44%

    Fortifi Bank 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
    84.08%

    Fortifi Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 289 $65,935,000 $228,149

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    289 $65,935,000 $228,149

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 35 $3,865,000 $110,429 $1,134 5.30%
    40-60% 46 $10,770,000 $234,130 $2,026 4.69%
    60-80% 97 $29,725,000 $306,443 $2,072 5.19%
    80-100% 84 $20,380,000 $242,619 $2,318 5.12%
    Under 20% 27 $1,195,000 $44,259 $451 5.86%