Fortifi Bank Mortgage Rates, Fees & Info

Berlin, WI

LEI: 254900TQL77TN5I01K05

Tax ID: 39-0280510

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Mortgage Data

Bank Data

Review & Overview

Fortifi Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi 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 Naples among others. We have data for 17 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.

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 6.62% 12/5/24
30 Year Conventional Refi 6.43% 12/5/24
30 Year Cash-out Refi 6.62% 12/5/24
30 Year USDA Purchase 7.03% 12/5/24
15 Year Conventional Purchase 5.57% 12/5/24
15 Year Conventional Refi 5.65% 12/5/24
15 Year Cash-out Refi 5.65% 12/5/24
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.

Fortifi Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Fortifi Bank. 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

329

Origination Dollar Volume (All Markets)

$52,885,000

Employee count

113

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 191 $24,025,000 $125,785 $0 0.00%
GREEN BAY, WI (FHA|USDA|VA) 25 $8,075,000 $323,000 $0 0.00%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 26 $7,040,000 $270,769 $0 0.00%
MADISON, WI (FHA|USDA|VA) 29 $5,395,000 $186,034 $0 0.00%
FOND DU LAC, WI (FHA|USDA|VA) 36 $4,350,000 $120,833 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $840,000 $420,000 $0 0.00%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 5 $765,000 $153,000 $0 0.00%
Baraboo, WI (FHA|USDA|VA) 4 $540,000 $135,000 $0 0.00%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
APPLETON, WI (FHA|USDA|VA) 2 $310,000 $155,000 $0 0.00%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
Beaver Dam, WI (FHA|USDA|VA) 2 $150,000 $75,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
SHEBOYGAN, WI (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
Manitowoc, WI (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Fortifi Bank's top markets include Green Bay, Oshkosh, Madison, Fond Du Lac, and Naples among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Similar Lenders

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 319 $51,945,000 $162,837 $0 0.00%
    USDA 10 $940,000 $94,000 $0 0.00%

    For 2018, Fortifi Bank's most frequently originated type of loan was Conventional, with 319 originations. Their 2nd most popular type was USDA, with 10 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 138 $22,520,000 $163,188 $0 0.00%
    Cash Out Refi 97 $12,995,000 $133,969 $0 0.00%
    Refi 85 $16,745,000 $197,000 $0 0.00%
    Home Improvement 8 $600,000 $75,000 $0 0.00%
    Other 1 $25,000 $25,000 $0 0.00%

    For 2018, Fortifi Bank's most frequently cited loan purpose was Home Purchase, with 138 originations. The 2nd most popular reason was Cash Out Refi, with 97 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 329 $52,885,000 $160,745 $0 0.00%

    For 2018, Fortifi Bank's most frequently cited loan duration was Other, with 329 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 148 $8,260,000 $55,811 $0 0.00%
    $100k-200k 103 $14,645,000 $142,184 $0 0.00%
    $200k-400k 61 $16,925,000 $277,459 $0 0.00%
    $400k-600k 14 $6,260,000 $447,143 $0 0.00%
    $1MM+ 2 $6,070,000 $3,035,000 $0 0.00%
    $600k-1MM 1 $725,000 $725,000 $0 0.00%

    2018 saw Fortifi Bank place emphasis on $100,000 or less loans with 148 originations, totaling $8,260,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 75 $6,255,000 $83,400 $0 0.00%
    $50k-75k 67 $7,355,000 $109,776 $0 0.00%
    $100k-150k 45 $8,385,000 $186,333 $0 0.00%
    $150k-250k 35 $6,775,000 $193,571 $0 0.00%
    $75k-100k 35 $4,725,000 $135,000 $0 0.00%
    $250k+ 21 $8,865,000 $422,143 $0 0.00%

    Fortifi Bank lent most frequently to those with incomes in the $50k or less range, with 75 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
    Exempt% 329 $52,885,000 $160,745 $0 0.00%

    Fortifi Bank lent most frequently to those with DTI ratios of Exempt%, with 329 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 275 $41,805,000 $152,018 $0 0.00%
    Not applicable 46 $9,860,000 $214,348 $0 0.00%
    Not provided 8 $1,220,000 $152,500 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.17%

    Fortifi Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.50%

    Fortifi Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 329 $52,885,000 $160,745

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $835,000 $278,333
    Single Family (1-4 Units):Manufactured 15 $1,185,000 $79,000
    Single Family (1-4 Units):Site-Built 311 $50,865,000 $163,553

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Fortifi Bank 408 Main Street Montello, WI 53949 Full Service B&M $36,820
    Fortifi Bank 120 Alder Avenue Omro, WI 54963 Full Service B&M $36,728
    Fortifi Bank 1330 Montondon Avenue Waunakee, WI 53597 Full Service B&M $17,397
    Fortifi Bank 140 West Huron Street Berlin, WI 54923 Full Service B&M $151,018
    Fortifi Bank 2181 S. Oneida Street Green Bay, WI 54304 Limited, Drive-thru $27,669
    Fortifi Bank 356 S. Pioneer Park Rd Westfield, WI 53964 Full Service B&M $22,431
    Fortifi Bank 908 East Main Street Winneconne, WI 54986 Full Service B&M $20,525
    Fortifi Bank N6230 State Road 49 Green Lake, WI 54941 Full Service B&M $37,539

    For 2018, Fortifi Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,519
    Net interest income $15,646
    Total noninterest income $3,454
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $846
    Trading account gains and fees $0
    Additional Noninterest Income $2,608
    Pre-tax net operating income $2,050
    Securities gains (or losses, -) $22
    Income before extraordinary items $1,601
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,601
    Minority interest net income $0
    Net income $1,601
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,583

    Fortifi Bank's gross interest income from loans was $18,519,000.
    Fortifi Bank's net interest income from loans was $15,646,000.
    Fortifi Bank's fee based income from loans was $846,000.
    Fortifi Bank's net income from loans was $1,601,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,873
    Provision for credit losses $725
    Total noninterest expense $16,325
    Salaries and employee benefits $8,949
    Premises and equipment expense $1,542
    Additional noninterest expense $5,834
    Applicable income taxes $471
    Net charge-offs $185
    Cash dividends $1,345

    Fortifi Bank's interest expense for loans was $2,873,000.
    Fortifi Bank's payroll and benefits expense were $8,949,000.
    Fortifi Bank's property, plant and equipment expenses $1,542,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 5.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $366,937
    Deposits held in domestic offices $366,937
    Deposits by Individuals, partnerships, and corporations $310,756
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $55,939
    Deposits by Commercial banks and other depository institutions in U.S. $242
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $41,425
    Demand deposits $21,731
    Nontransaction accounts $325,512
    Money market deposit accounts (MMDAs) $73,379
    Other savings deposits (excluding MMDAs) $149,435
    Total time deposits $102,698
    Total time and savings deposits $345,206
    Noninterest-bearing deposits $70,695
    Interest-bearing deposits $296,242
    Retail deposits $322,691
    IRAs and Keogh plan accounts $10,267
    Brokered deposits $28,359
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $419,874
    Cash & Balances due from depository institutions $32,263
    Interest-bearing balances $20,997
    Total securities $56,539
    Federal funds sold & reverse repurchase $0
    Net loans and leases $310,607
    Loan and leases loss allowance $3,312
    Trading account assets $0
    Bank premises and fixed assets $3,766
    Other real estate owned $3,050
    Goodwill and other intangibles $1,286
    All other assets $12,363

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $419,874
    Total Liabilities $383,111
    Total deposits $366,937
    Interest-bearing deposits $296,242
    Deposits held in domestic offices $366,937
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $13,233
    Subordinated debt $0
    All other liabilities $2,941

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $310,607
    Loan and leases loss allowance $3,312
    Total loans and leases (domestic) $313,919
    All real estate loans $239,496
    Real estate loans in domestic offices $239,496
    Construction and development loans $34,767
    Residential 1-4 family construction $10,520
    Other construction, all land development and other land $24,247
    Loans secured by nonfarm nonresidential properties $112,359
    Nonfarm nonresidential secured by owner-occupied properties $68,853
    Commercial real estate & other non-farm, non-residential $43,506
    Multifamily residential real estate $6,850
    1-4 family residential loans $80,360
    Farmland loans $5,160
    Loans held in foreign offices $0
    Farm loans $984
    Commercial and industrial loans $65,532
    To non-U.S. addressees $0
    Loans to individuals $7,396
    Credit card loans $0
    Related Plans $1,399
    Consumer Auto Loans $443
    Other loans to individuals $5,554
    All other loans & leases $510
    Loans to foreign governments and official institutions $0
    Other loans $91
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $547
    Non 1-4 family restructured loans & leases $547
    Total loans and leases (foreign) $0

    Fortifi Bank had $310,607,000 of loans outstanding in 2018. $239,496,000 of loans were in real estate loans. $34,767,000 of loans were in development loans. $6,850,000 of loans were in multifamily mortgage loans. $80,360,000 of loans were in 1-4 family mortgage loans. $984,000 of loans were in farm loans. $0 of loans were in credit card loans. $443,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 250 $57,900 $231,600
    Nonfarm, nonresidential loans - <$100k 59 $2,720 $46,102
    Nonfarm, nonresidential loans - $100-250k 81 $9,832 $121,383
    Nonfarm, nonresidential loans - $250k-1MM 110 $45,348 $412,255
    Commercial & Industrial, US addressed loans - <$1MM 484 $42,853 $88,539
    Commercial & Industrial, US addressed loans - <$100k 290 $7,801 $26,900
    Commercial & Industrial, US addressed loans - $100-250k 117 $12,729 $108,795
    Commercial & Industrial, US addressed loans - $250k-1MM 77 $22,323 $289,909
    Farmland loans - <$1MM 33 $4,409 $133,606
    Farmland loans - <$100k 13 $709 $54,538
    Farmland loans - $100-250k 12 $1,422 $118,500
    Farmland loans - $250k-1MM 8 $2,278 $284,750
    Agriculture operations loans - <$1MM 22 $984 $44,727
    Agriculture operations loans - <$100k 14 $433 $30,929
    Agriculture operations loans - $100-250k 5 $295 $59,000
    Agriculture operations loans - $250k-1MM 3 $256 $85,333