Fortifi Bank Mortgage Rates, Fees & Info

Berlin, WI

LEI: 254900TQL77TN5I01K05

Tax ID: 39-0280510

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • 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, Green Bay, Madison, Fond Du Lac, and Appleton among others. We have data for 27 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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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.62% 11/21/24
    30 Year Conventional Refi 6.43% 11/21/24
    30 Year Cash-out Refi 6.62% 11/21/24
    30 Year USDA Purchase 7.03% 11/21/24
    15 Year Conventional Purchase 5.57% 11/21/24
    15 Year Conventional Refi 5.65% 11/21/24
    15 Year Cash-out Refi 5.65% 11/21/24
    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

    682

    Origination Dollar Volume (All Markets)

    $139,820,000

    Employee count

    101 Show all (8) 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 295 $52,495,000 $177,949 $1,582 3.14%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 121 $25,835,000 $213,512 $1,523 3.11%
    GREEN BAY, WI (FHA|USDA|VA) 103 $21,625,000 $209,951 $1,392 3.20%
    MADISON, WI (FHA|USDA|VA) 66 $18,650,000 $282,576 $1,479 2.97%
    FOND DU LAC, WI (FHA|USDA|VA) 40 $6,610,000 $165,250 $1,462 3.15%
    APPLETON, WI (FHA|USDA|VA) 21 $5,505,000 $262,143 $1,785 2.96%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 7 $1,635,000 $233,571 $1,566 3.02%
    Manitowoc, WI (FHA|USDA|VA) 1 $1,325,000 $1,325,000 $0 4.50%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 5 $985,000 $197,000 $1,453 3.21%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 2 $670,000 $335,000 $1,669 3.13%
    Platteville, WI (FHA|USDA|VA) 1 $605,000 $605,000 $0 4.50%
    Shawano, WI (FHA|USDA|VA) 3 $475,000 $158,333 $800 3.92%
    Iron Mountain, MI-WI (FHA|USDA|VA) 2 $440,000 $220,000 $1,833 2.56%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $390,000 $195,000 $1,810 3.25%
    TUCSON, AZ (FHA|USDA|VA) 1 $375,000 $375,000 $2,374 3.38%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $375,000 $375,000 $2,345 2.75%
    Marinette, WI-MI (FHA|USDA|VA) 1 $355,000 $355,000 $1,522 2.63%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $285,000 $285,000 $3,030 2.88%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $185,000 $185,000 $0 4.50%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,103 3.50%
    EAU CLAIRE, WI (FHA|USDA|VA) 1 $165,000 $165,000 $1,485 2.50%
    Beaver Dam, WI (FHA|USDA|VA) 1 $135,000 $135,000 $1,547 2.25%
    SHEBOYGAN, WI (FHA|USDA|VA) 1 $115,000 $115,000 $1,762 2.50%
    Stevens Point, WI (FHA|USDA|VA) 1 $115,000 $115,000 $1,947 2.38%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $115,000 $115,000 $1,667 2.75%
    Baraboo, WI (FHA|USDA|VA) 1 $115,000 $115,000 $0 4.75%
    ROCKFORD, IL (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.25%
    Fortifi Bank's top markets include Oshkosh, Green Bay, Madison, Fond Du Lac, and Appleton among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Florida (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: 128
    PROSPERA Credit Union
    Similarity Rank: 140
    Westbury Bank
    Similarity Rank: 190
    The Stephenson National Bank and Trust
    Similarity Rank: 360
    DMB Community Bank
    Similarity Rank: 400
    Wolf River Community Bank
    Similarity Rank: 450
    The Bank of Kaukauna
    Similarity Rank: 484
    Fox Valley Savings Bank
    Similarity Rank: 516
    Dane County Credit Union
    Similarity Rank: 531
    BLC Community Bank
    Similarity Rank: 555

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 681 $139,675,000 $205,103 $1,542 3.13%
    USDA 1 $145,000 $145,000 $3,761 3.50%

    For 2021, Fortifi Bank's most frequently originated type of loan was Conventional, with 681 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 262 $52,060,000 $198,702 $1,371 3.11%
    Refi 255 $50,915,000 $199,667 $1,403 2.91%
    Home Purchase 164 $36,840,000 $224,634 $2,124 3.48%
    Other 1 $5,000 $5,000 $100 4.75%

    For 2021, Fortifi Bank's most frequently cited loan purpose was Cash Out Refi, with 262 originations. The 2nd most popular reason was Refi, with 255 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 318 $72,860,000 $229,119 $1,706 3.15%
    15 Year 200 $36,430,000 $182,150 $1,474 2.49%
    Other 73 $8,255,000 $113,082 $1,071 4.48%
    20 Year 62 $12,680,000 $204,516 $1,543 2.94%
    3 Year 13 $6,025,000 $463,462 $0 4.92%
    5 Year 9 $2,625,000 $291,667 $0 4.78%
    10 Year 7 $945,000 $135,000 $1,498 2.52%

    For 2021, Fortifi Bank's most frequently cited loan duration was 30 Year, with 318 originations. The 2nd most popular length was 15 Year, with 200 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 612 $123,060,000 $201,078
    $1k-2k 1 $905,000 $905,000
    $4k-5k 1 $175,000 $175,000

    Fortifi Bank's average total fees were $1,706, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 612 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 274 $58,990,000 $215,292
    3-4% 167 $37,355,000 $223,683
    <2.5% 144 $26,600,000 $184,722
    4-5% 74 $14,520,000 $196,216
    5-6% 20 $2,140,000 $107,000
    6-7% 2 $90,000 $45,000

    During 2021, Fortifi Bank's average interest rate for loans was 3.15%, while their most frequently originated rate bucket for loans was 2.5-3%, with 274 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 270 $40,240,000 $149,037 $1,639 3.00%
    $200k-400k 216 $60,520,000 $280,185 $1,581 2.99%
    $100,000 or less 143 $9,325,000 $65,210 $1,283 3.53%
    $400k-600k 45 $21,995,000 $488,778 $1,540 3.02%
    $600k-1MM 5 $3,665,000 $733,000 $3,627 4.20%
    $1MM+ 3 $4,075,000 $1,358,333 $0 4.62%

    2021 saw Fortifi Bank place emphasis on $100k-200k loans with 270 originations, totaling $40,240,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 139 $20,655,000 $148,597 $1,654 3.12%
    $100k-150k 134 $30,520,000 $227,761 $1,547 2.99%
    $75k-100k 122 $22,520,000 $184,590 $1,559 3.09%
    $50k or less 95 $9,975,000 $105,000 $1,548 3.30%
    $150k-250k 89 $23,765,000 $267,022 $1,578 3.04%
    $250k+ 62 $19,650,000 $316,935 $1,495 2.98%

    Fortifi Bank lent most frequently to those with incomes in the $50k-75k range, with 139 originations. The second most popular income band? $100k-150k, with 134 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 198 $37,330,000 $188,535 $1,545 3.02%
    30-36% 125 $26,795,000 $214,360 $1,516 3.05%
    <20% 98 $17,810,000 $181,735 $1,515 2.87%
    37% 26 $5,240,000 $201,538 $1,622 3.12%
    39% 21 $4,165,000 $198,333 $1,673 3.04%
    43% 19 $4,545,000 $239,211 $1,610 3.22%
    42% 18 $2,900,000 $161,111 $1,247 3.12%
    38% 18 $3,260,000 $181,111 $1,463 3.41%
    44% 17 $3,185,000 $187,353 $1,433 3.16%
    41% 15 $3,265,000 $217,667 $1,638 3.33%
    40% 15 $3,005,000 $200,333 $1,683 3.56%
    36% 15 $3,375,000 $225,000 $1,548 3.18%
    45% 15 $3,065,000 $204,333 $1,805 3.15%
    46% 13 $3,405,000 $261,923 $1,597 3.03%
    48% 13 $2,395,000 $184,231 $1,618 2.85%
    49% 11 $2,495,000 $226,818 $1,801 3.01%
    47% 10 $2,390,000 $239,000 $1,403 2.97%
    >60% 7 $1,245,000 $177,857 $1,587 4.05%
    50-60% 7 $1,065,000 $152,143 $1,466 4.34%

    Fortifi Bank lent most frequently to those with DTI ratios of 20-30%, with 198 originations. The next most common DTI ratio? 30-36%, with 125 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 605 $120,505,000 $199,182 $1,546 3.09%
    Not provided 51 $10,205,000 $200,098 $1,575 2.94%
    Not applicable 19 $8,095,000 $426,053 $0 4.90%
    Asian 3 $555,000 $185,000 $1,145 3.39%
    Black 2 $300,000 $150,000 $1,574 2.50%
    American Indian 2 $160,000 $80,000 $1,168 2.56%

    Approval Rates

    Total approvals of all applications
    96.70%

    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
    88.12%

    Fortifi Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 682 $139,820,000 $205,015

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    682 $139,820,000 $205,015

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 58 $7,850,000 $135,345 $1,376 3.07%
    40-60% 157 $27,065,000 $172,389 $1,525 2.85%
    60-80% 319 $75,635,000 $237,100 $1,610 3.10%
    80-100% 117 $27,445,000 $234,573 $1,800 3.27%
    Over 100% 1 $515,000 $515,000 $0 4.40%
    Under 20% 30 $1,310,000 $43,667 $366 4.36%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Fortifi Bank 1092 W. Fond Du Lac St Ripon, WI 54971 Full Service B&M $16,915
    Fortifi Bank 120 Alder Avenue Omro, WI 54963 Full Service B&M $48,571
    Fortifi Bank 1330 Montondon Avenue, P.O. Box 311 Waunakee, WI 53597 Full Service B&M $37,376
    Fortifi Bank 140 W Huron St Berlin, WI 54923 Limited, Administrative $0
    Fortifi Bank 240 Broadway Berlin, WI 54923 Full Service B&M $200,256
    Fortifi Bank 240 Broadway Street Berlin, WI 54923 Full Service B&M $0
    Fortifi Bank 408 Main Street Montello, WI 53949 Full Service B&M $59,124
    Fortifi Bank 701 Cormier Rd Green Bay, WI 54304 Full Service B&M $53,323
    Fortifi Bank 908 East Main Street Winneconne, WI 54986 Full Service B&M $28,576
    Fortifi Bank N6230 State Road 49 Green Lake, WI 54941 Full Service B&M $43,124

    For 2021, Fortifi Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,194
    Net interest income $20,079
    Total noninterest income $7,089
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $597
    Trading account gains and fees $0
    Additional Noninterest Income $6,492
    Pre-tax net operating income $11,733
    Securities gains (or losses, -) $7
    Income before extraordinary items $8,620
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,620
    Minority interest net income $0
    Net income $8,620
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,614

    Fortifi Bank's gross interest income from loans was $21,194,000.
    Fortifi Bank's net interest income from loans was $20,079,000.
    Fortifi Bank's fee based income from loans was $597,000.
    Fortifi Bank's net income from loans was $8,620,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,115
    Provision for credit losses $300
    Total noninterest expense $15,135
    Salaries and employee benefits $8,913
    Premises and equipment expense $1,353
    Additional noninterest expense $4,869
    Applicable income taxes $3,120
    Net charge-offs $478
    Cash dividends $1,440

    Fortifi Bank's interest expense for loans was $1,115,000.
    Fortifi Bank's payroll and benefits expense were $8,913,000.
    Fortifi Bank's property, plant and equipment expenses $1,353,000.

    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 11.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    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 $518,047
    Deposits held in domestic offices $518,047
    Deposits by Individuals, partnerships, and corporations $458,287
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $57,772
    Deposits by Commercial banks and other depository institutions in U.S. $1,987
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $241,363
    Demand deposits $140,666
    Nontransaction accounts $276,684
    Money market deposit accounts (MMDAs) $154,220
    Other savings deposits (excluding MMDAs) $72,235
    Total time deposits $50,231
    Total time and savings deposits $377,381
    Noninterest-bearing deposits $140,744
    Interest-bearing deposits $377,303
    Retail deposits $507,901
    IRAs and Keogh plan accounts $8,396
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $602,553
    Cash & Balances due from depository institutions $122,102
    Interest-bearing balances $104,751
    Total securities $107,178
    Federal funds sold & reverse repurchase $262
    Net loans and leases $349,008
    Loan and leases loss allowance $4,760
    Trading account assets $0
    Bank premises and fixed assets $5,601
    Other real estate owned $912
    Goodwill and other intangibles $2,196
    All other assets $15,294

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $602,553
    Total Liabilities $537,424
    Total deposits $518,047
    Interest-bearing deposits $377,303
    Deposits held in domestic offices $518,047
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $15,133
    Subordinated debt $0
    All other liabilities $4,244

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $349,008
    Loan and leases loss allowance $4,760
    Total loans and leases (domestic) $353,768
    All real estate loans $290,417
    Real estate loans in domestic offices $290,417
    Construction and development loans $55,489
    Residential 1-4 family construction $10,713
    Other construction, all land development and other land $44,776
    Loans secured by nonfarm nonresidential properties $149,829
    Nonfarm nonresidential secured by owner-occupied properties $78,156
    Commercial real estate & other non-farm, non-residential $71,673
    Multifamily residential real estate $10,470
    1-4 family residential loans $69,803
    Farmland loans $4,826
    Loans held in foreign offices $0
    Farm loans $1,061
    Commercial and industrial loans $55,900
    To non-U.S. addressees $0
    Loans to individuals $6,162
    Credit card loans $0
    Related Plans $1,350
    Consumer Auto Loans $36
    Other loans to individuals $4,776
    All other loans & leases $227
    Loans to foreign governments and official institutions $0
    Other loans $46
    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 $672
    Non 1-4 family restructured loans & leases $672
    Total loans and leases (foreign) $0

    Fortifi Bank had $349,008,000 of loans outstanding in 2021. $290,417,000 of loans were in real estate loans. $55,489,000 of loans were in development loans. $10,470,000 of loans were in multifamily mortgage loans. $69,803,000 of loans were in 1-4 family mortgage loans. $1,061,000 of loans were in farm loans. $0 of loans were in credit card loans. $36,000 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 235 $59,739 $254,209
    Nonfarm, nonresidential loans - <$100k 55 $2,630 $47,818
    Nonfarm, nonresidential loans - $100-250k 66 $8,805 $133,409
    Nonfarm, nonresidential loans - $250k-1MM 114 $48,304 $423,719
    Commercial & Industrial, US addressed loans - <$1MM 399 $31,972 $80,130
    Commercial & Industrial, US addressed loans - <$100k 234 $5,164 $22,068
    Commercial & Industrial, US addressed loans - $100-250k 79 $6,898 $87,316
    Commercial & Industrial, US addressed loans - $250k-1MM 86 $19,910 $231,512
    Farmland loans - <$1MM 23 $2,394 $104,087
    Farmland loans - <$100k 9 $358 $39,778
    Farmland loans - $100-250k 9 $971 $107,889
    Farmland loans - $250k-1MM 5 $1,065 $213,000
    Agriculture operations loans - <$1MM 28 $1,061 $37,893
    Agriculture operations loans - <$100k 21 $669 $31,857
    Agriculture operations loans - $100-250k 4 $131 $32,750
    Agriculture operations loans - $250k-1MM 3 $261 $87,000