Fortifi Bank Mortgage Rates, Fees & Info

Berlin, WI

LEI: 254900TQL77TN5I01K05

Tax ID: 39-0280510

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • 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 Home Purchase loans. Fortifi Bank has a high proportion of conventional loans. Their top markets by origination volume include: Green Bay, Oshkosh, Fond Du Lac, Madison, and Appleton among others. We have data for 16 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.

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    Originations

    201

    Origination Dollar Volume (All Markets)

    $48,415,000

    Awards

    Fortifi Bank 30 Year Conventional Loans gold Fortifi Bank 30 Year Conventional Loans gold
    Show all (2) awards

    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 91 $16,185,000 $177,857 $1,483 7.34%
    GREEN BAY, WI (FHA|USDA|VA) 24 $10,600,000 $441,667 $1,807 7.07%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 33 $9,565,000 $289,848 $2,105 7.16%
    FOND DU LAC, WI (FHA|USDA|VA) 19 $3,635,000 $191,316 $1,885 7.16%
    MADISON, WI (FHA|USDA|VA) 13 $3,475,000 $267,308 $1,548 7.50%
    APPLETON, WI (FHA|USDA|VA) 7 $2,065,000 $295,000 $2,643 7.51%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $445,000 $445,000 $0 7.50%
    RACINE, WI (FHA|USDA|VA) 3 $415,000 $138,333 $0 8.08%
    ROCHESTER, MN (FHA|USDA|VA) 1 $385,000 $385,000 $3,001 6.13%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $305,000 $305,000 $3,952 6.38%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 2 $290,000 $145,000 $2,115 7.13%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $280,000 $140,000 $0 7.80%
    Beaver Dam, WI (FHA|USDA|VA) 1 $215,000 $215,000 $2,823 6.75%
    Platteville, WI (FHA|USDA|VA) 1 $215,000 $215,000 $2,609 6.50%
    Whitewater, WI (FHA|USDA|VA) 1 $215,000 $215,000 $1,942 7.63%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $125,000 $125,000 $1,955 6.05%
    Fortifi Bank's top markets include Green Bay, Oshkosh, Fond Du Lac, Madison, and Appleton among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Illinois (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.

    PCM
    Similarity Rank: 32
    PROSPERA Credit Union
    Similarity Rank: 77
    Horicon Bank
    Similarity Rank: 144
    Starion Bank
    Similarity Rank: 147
    National Exchange Bank and Trust
    Similarity Rank: 168
    Fox Valley Savings Bank
    Similarity Rank: 209
    UNISON CREDIT UNION
    Similarity Rank: 234
    Bank of Sun Prairie
    Similarity Rank: 270
    Heartland Credit Union (Madison)
    Similarity Rank: 270
    Mound City Bank
    Similarity Rank: 286

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 201 $48,415,000 $240,871 $1,770 7.27%

    For 2023, Fortifi Bank's most frequently originated type of loan was Conventional, with 201 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 123 $36,735,000 $298,659 $2,377 7.14%
    Cash Out Refi 29 $4,175,000 $143,966 $1,005 7.38%
    Home Improvement 18 $1,170,000 $65,000 $659 7.99%
    Refi 16 $5,050,000 $315,625 $1,278 7.08%
    Other 15 $1,285,000 $85,667 $695 7.52%

    For 2023, Fortifi Bank's most frequently cited loan purpose was Home Purchase, with 123 originations. The 2nd most popular reason was Cash Out Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 88 $17,490,000 $198,750 $1,260 7.49%
    30 Year 64 $18,080,000 $282,500 $2,349 6.80%
    3 Year 17 $4,425,000 $260,294 $340 7.69%
    5 Year 16 $5,110,000 $319,375 $480 7.83%
    15 Year 11 $2,345,000 $213,182 $2,126 6.52%
    20 Year 3 $695,000 $231,667 $2,042 7.08%
    1 Year 2 $270,000 $135,000 $0 8.88%

    For 2023, Fortifi Bank's most frequently cited loan duration was Other, with 88 originations. The 2nd most popular length was 30 Year, with 64 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 152 $33,380,000 $219,605

    Fortifi Bank's average total fees were $2,349, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 152 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 82 $16,830,000 $205,244
    6-7% 78 $25,430,000 $326,026
    Over 8% 33 $4,405,000 $133,485
    5-6% 8 $1,750,000 $218,750

    During 2023, Fortifi Bank's average interest rate for loans was 6.80%, while their most frequently originated rate bucket for loans was 7-8%, with 82 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 68 $10,210,000 $150,147 $1,882 7.20%
    $100,000 or less 53 $2,815,000 $53,113 $762 7.68%
    $200k-400k 48 $13,630,000 $283,958 $2,446 7.12%
    $400k-600k 18 $8,510,000 $472,778 $1,763 6.91%
    $600k-1MM 10 $7,200,000 $720,000 $3,263 7.16%
    $1MM+ 4 $6,050,000 $1,512,500 $2,134 6.75%

    2023 saw Fortifi Bank place emphasis on $100k-200k loans with 68 originations, totaling $10,210,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 40 $8,190,000 $204,750 $1,524 7.26%
    $50k-75k 34 $4,500,000 $132,353 $1,601 7.20%
    $150k-250k 28 $7,760,000 $277,143 $2,175 7.07%
    $75k-100k 24 $3,630,000 $151,250 $1,633 7.20%
    $250k+ 20 $9,820,000 $491,000 $2,350 6.95%
    $50k or less 18 $1,880,000 $104,444 $1,770 7.23%

    Fortifi Bank lent most frequently to those with incomes in the $100k-150k range, with 40 originations. The second most popular income band? $50k-75k, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 40 $9,620,000 $240,500 $1,928 7.21%
    20-30% 38 $7,310,000 $192,368 $1,598 7.13%
    <20% 13 $2,535,000 $195,000 $1,666 7.39%
    36% 13 $2,205,000 $169,615 $1,962 7.00%
    37% 11 $2,445,000 $222,273 $1,812 7.39%
    45% 7 $1,845,000 $263,571 $1,757 7.54%
    39% 7 $1,125,000 $160,714 $1,759 6.95%
    46% 6 $2,030,000 $338,333 $2,167 6.90%
    44% 6 $1,870,000 $311,667 $2,023 6.91%
    >60% 5 $1,255,000 $251,000 $1,534 6.81%
    38% 4 $840,000 $210,000 $1,304 7.06%
    47% 4 $420,000 $105,000 $1,756 7.25%
    43% 4 $790,000 $197,500 $2,042 7.28%
    40% 3 $415,000 $138,333 $1,228 7.22%
    48% 3 $855,000 $285,000 $1,477 7.61%
    49% 2 $150,000 $75,000 $516 7.25%
    42% 2 $710,000 $355,000 $1,568 6.43%
    41% 1 $165,000 $165,000 $2,072 6.00%

    Fortifi Bank lent most frequently to those with DTI ratios of 30-36%, with 40 originations. The next most common DTI ratio? 20-30%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 135 $27,015,000 $200,111 $1,706 7.16%
    Not applicable 32 $11,830,000 $369,688 $0 7.86%
    Not provided 33 $9,545,000 $289,242 $2,118 7.13%
    Asian 1 $25,000 $25,000 $340 8.15%

    Approval Rates

    Total approvals of all applications
    91.77%

    Fortifi Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.05%

    Fortifi Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 201 $48,415,000 $240,871

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    201 $48,415,000 $240,871

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $3,095,000 $134,565 $1,086 7.42%
    40-60% 21 $5,655,000 $269,286 $1,701 7.53%
    60-80% 76 $24,810,000 $326,447 $2,316 7.21%
    80-100% 53 $13,515,000 $255,000 $2,210 6.97%
    Under 20% 28 $1,340,000 $47,857 $550 7.69%