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 Cash Out Refi, Refi, and Home Purchase 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: Oshkosh, Madison, Green Bay, Fond Du Lac, and Appleton among others. We have data for 20 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% 12/8/24
30 Year Conventional Refi 6.43% 12/8/24
30 Year Cash-out Refi 6.62% 12/8/24
30 Year USDA Purchase 7.03% 12/8/24
15 Year Conventional Purchase 5.57% 12/8/24
15 Year Conventional Refi 5.65% 12/8/24
15 Year Cash-out Refi 5.65% 12/8/24
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

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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

435

Origination Dollar Volume (All Markets)

$87,415,000

Employee count

115

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 225 $32,825,000 $145,889 $0 0.00%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 59 $17,725,000 $300,424 $0 0.00%
MADISON, WI (FHA|USDA|VA) 53 $13,295,000 $250,849 $0 0.00%
GREEN BAY, WI (FHA|USDA|VA) 39 $10,485,000 $268,846 $0 0.00%
FOND DU LAC, WI (FHA|USDA|VA) 28 $5,450,000 $194,643 $0 0.00%
APPLETON, WI (FHA|USDA|VA) 7 $1,685,000 $240,714 $0 0.00%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 6 $1,440,000 $240,000 $0 0.00%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $1,265,000 $1,265,000 $0 0.00%
Baraboo, WI (FHA|USDA|VA) 4 $800,000 $200,000 $0 0.00%
Rochelle, IL (FHA|USDA|VA) 2 $400,000 $200,000 $0 0.00%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 2 $360,000 $180,000 $0 0.00%
Whitewater, WI (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
TUCSON, AZ (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
Shawano, WI (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
MONTGOMERY, AL (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
Manitowoc, WI (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
Beaver Dam, WI (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Fortifi Bank's top markets include Oshkosh, Madison, Green Bay, Fond Du Lac, and Appleton among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Colorado (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.

    PROSPERA Credit Union
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    Heartland Credit Union (Madison)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 434 $87,340,000 $201,244 $0 0.00%
    USDA 1 $75,000 $75,000 $0 0.00%

    For 2019, Fortifi Bank's most frequently originated type of loan was Conventional, with 434 originations. Their 2nd most popular type was USDA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 165 $27,645,000 $167,545 $0 0.00%
    Refi 137 $34,625,000 $252,737 $0 0.00%
    Home Purchase 132 $25,060,000 $189,848 $0 0.00%
    Home Improvement 1 $85,000 $85,000 $0 0.00%

    For 2019, Fortifi Bank's most frequently cited loan purpose was Cash Out Refi, with 165 originations. The 2nd most popular reason was Refi, with 137 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 435 $87,415,000 $200,954 $0 0.00%

    For 2019, Fortifi Bank's most frequently cited loan duration was Other, with 435 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 152 $22,130,000 $145,592 $0 0.00%
    $100,000 or less 129 $7,125,000 $55,233 $0 0.00%
    $200k-400k 115 $31,615,000 $274,913 $0 0.00%
    $400k-600k 30 $14,350,000 $478,333 $0 0.00%
    $1MM+ 5 $9,585,000 $1,917,000 $0 0.00%
    $600k-1MM 4 $2,610,000 $652,500 $0 0.00%

    2019 saw Fortifi Bank place emphasis on $100k-200k loans with 152 originations, totaling $22,130,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 100 $21,130,000 $211,300 $0 0.00%
    $50k-75k 93 $12,355,000 $132,849 $0 0.00%
    $75k-100k 65 $10,835,000 $166,692 $0 0.00%
    $50k or less 60 $5,620,000 $93,667 $0 0.00%
    $150k-250k 44 $12,640,000 $287,273 $0 0.00%
    $250k+ 26 $7,880,000 $303,077 $0 0.00%

    Fortifi Bank lent most frequently to those with incomes in the $100k-150k range, with 100 originations. The second most popular income band? $50k-75k, with 93 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 435 $87,415,000 $200,954 $0 0.00%

    Fortifi Bank lent most frequently to those with DTI ratios of Exempt%, with 435 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 385 $69,245,000 $179,857 $0 0.00%
    Not applicable 28 $14,670,000 $523,929 $0 0.00%
    Not provided 18 $3,130,000 $173,889 $0 0.00%
    Black 2 $280,000 $140,000 $0 0.00%
    Asian 2 $90,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.43%

    Fortifi Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.52%

    Fortifi Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 435 $87,415,000 $200,954

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 11 $12,565,000 $1,142,273
    Single Family (1-4 Units):Manufactured 16 $1,410,000 $88,125
    Single Family (1-4 Units):Site-Built 408 $73,440,000 $180,000

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Fortifi Bank 120 Alder Avenue Omro, WI 54963 Full Service B&M $35,866
    Fortifi Bank 1330 Montondon Avenue, P.O. Box 311 Waunakee, WI 53597 Full Service B&M $19,398
    Fortifi Bank 140 West Huron Street Berlin, WI 54923 Full Service B&M $156,886
    Fortifi Bank 356 S. Pioneer Park Rd Westfield, WI 53964 Full Service B&M $22,947
    Fortifi Bank 408 Main Street Montello, WI 53949 Full Service B&M $35,906
    Fortifi Bank 701 Cormier Rd Green Bay, WI 54304 Full Service B&M $25,942
    Fortifi Bank 908 East Main Street Winneconne, WI 54986 Full Service B&M $21,374
    Fortifi Bank N6230 State Road 49 Green Lake, WI 54941 Full Service B&M $42,033

    For 2019, Fortifi Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $20,627
    Net interest income $16,896
    Total noninterest income $3,997
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $752
    Trading account gains and fees $0
    Additional Noninterest Income $3,245
    Pre-tax net operating income $3,960
    Securities gains (or losses, -) $-15
    Income before extraordinary items $2,926
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,926
    Minority interest net income $0
    Net income $2,926
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,937

    Fortifi Bank's gross interest income from loans was $20,627,000.
    Fortifi Bank's net interest income from loans was $16,896,000.
    Fortifi Bank's fee based income from loans was $752,000.
    Fortifi Bank's net income from loans was $2,926,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,731
    Provision for credit losses $575
    Total noninterest expense $16,358
    Salaries and employee benefits $9,697
    Premises and equipment expense $1,553
    Additional noninterest expense $5,108
    Applicable income taxes $1,019
    Net charge-offs $259
    Cash dividends $1,096

    Fortifi Bank's interest expense for loans was $3,731,000.
    Fortifi Bank's payroll and benefits expense were $9,697,000.
    Fortifi Bank's property, plant and equipment expenses $1,553,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    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 0.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 2.0%
    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 $401,419
    Deposits held in domestic offices $401,419
    Deposits by Individuals, partnerships, and corporations $352,044
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $49,126
    Deposits by Commercial banks and other depository institutions in U.S. $248
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $41,214
    Demand deposits $22,388
    Nontransaction accounts $360,204
    Money market deposit accounts (MMDAs) $80,332
    Other savings deposits (excluding MMDAs) $159,833
    Total time deposits $120,039
    Total time and savings deposits $379,030
    Noninterest-bearing deposits $87,485
    Interest-bearing deposits $313,934
    Retail deposits $354,227
    IRAs and Keogh plan accounts $11,107
    Brokered deposits $26,908
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $456,691
    Cash & Balances due from depository institutions $40,700
    Interest-bearing balances $32,536
    Total securities $53,074
    Federal funds sold & reverse repurchase $1,210
    Net loans and leases $337,875
    Loan and leases loss allowance $3,628
    Trading account assets $0
    Bank premises and fixed assets $6,567
    Other real estate owned $2,459
    Goodwill and other intangibles $1,319
    All other assets $13,487

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $456,691
    Total Liabilities $413,263
    Total deposits $401,419
    Interest-bearing deposits $313,934
    Deposits held in domestic offices $401,419
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $8,154
    Subordinated debt $0
    All other liabilities $3,690

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $337,875
    Loan and leases loss allowance $3,628
    Total loans and leases (domestic) $341,503
    All real estate loans $267,939
    Real estate loans in domestic offices $267,939
    Construction and development loans $43,387
    Residential 1-4 family construction $10,001
    Other construction, all land development and other land $33,386
    Loans secured by nonfarm nonresidential properties $120,474
    Nonfarm nonresidential secured by owner-occupied properties $73,757
    Commercial real estate & other non-farm, non-residential $46,717
    Multifamily residential real estate $12,474
    1-4 family residential loans $84,342
    Farmland loans $7,262
    Loans held in foreign offices $0
    Farm loans $1,686
    Commercial and industrial loans $63,489
    To non-U.S. addressees $0
    Loans to individuals $7,747
    Credit card loans $0
    Related Plans $1,558
    Consumer Auto Loans $203
    Other loans to individuals $5,986
    All other loans & leases $641
    Loans to foreign governments and official institutions $0
    Other loans $111
    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 $542
    Non 1-4 family restructured loans & leases $542
    Total loans and leases (foreign) $0

    Fortifi Bank had $337,875,000 of loans outstanding in 2019. $267,939,000 of loans were in real estate loans. $43,387,000 of loans were in development loans. $12,474,000 of loans were in multifamily mortgage loans. $84,342,000 of loans were in 1-4 family mortgage loans. $1,686,000 of loans were in farm loans. $0 of loans were in credit card loans. $203,000 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 253 $58,207 $230,067
    Nonfarm, nonresidential loans - <$100k 62 $2,830 $45,645
    Nonfarm, nonresidential loans - $100-250k 79 $10,198 $129,089
    Nonfarm, nonresidential loans - $250k-1MM 112 $45,179 $403,384
    Commercial & Industrial, US addressed loans - <$1MM 451 $42,603 $94,463
    Commercial & Industrial, US addressed loans - <$100k 266 $7,498 $28,188
    Commercial & Industrial, US addressed loans - $100-250k 96 $10,189 $106,135
    Commercial & Industrial, US addressed loans - $250k-1MM 89 $24,916 $279,955
    Farmland loans - <$1MM 32 $5,118 $159,938
    Farmland loans - <$100k 9 $415 $46,111
    Farmland loans - $100-250k 14 $1,747 $124,786
    Farmland loans - $250k-1MM 9 $2,956 $328,444
    Agriculture operations loans - <$1MM 41 $1,686 $41,122
    Agriculture operations loans - <$100k 29 $669 $23,069
    Agriculture operations loans - $100-250k 8 $647 $80,875
    Agriculture operations loans - $250k-1MM 4 $370 $92,500