Bank Of Deerfield Mortgage Rates, Fees & Info

Deerfield, WI

LEI: 5493006ACVE4WEX8D790

Tax ID: 39-0147650

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Bank Of Deerfield is a smaller bank specializing in Home Purchase loans. Bank Of Deerfield has a high proportion of conventional loans. Their top markets by origination volume include: Madison, Watertown, Janesville, Milwaukee, and Beaver Dam among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of Deerfield 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. Bank Of Deerfield 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 6.38% 9/16/24
    30 Year Conventional Refi 6.16% 9/16/24
    30 Year Cash-out Refi 6.51% 9/16/24
    15 Year Conventional Purchase 6.05% 9/16/24
    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.

    Bank Of Deerfield Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Bank Of Deerfield. 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

    182

    Origination Dollar Volume (All Markets)

    $53,560,000

    Awards

    Bank of Deerfield 30 Year Conventional Loans gold Bank of Deerfield 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
    MADISON, WI (FHA|USDA|VA) 91 $29,515,000 $324,341 $1,445 4.78%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 36 $8,400,000 $233,333 $1,825 5.16%
    Outside of Metro Areas 14 $6,770,000 $483,571 $2,047 4.97%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 23 $4,145,000 $180,217 $1,646 5.24%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $1,330,000 $665,000 $736 5.07%
    Beaver Dam, WI (FHA|USDA|VA) 5 $1,155,000 $231,000 $1,906 5.18%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 3 $725,000 $241,667 $0 5.36%
    Whitewater, WI (FHA|USDA|VA) 2 $420,000 $210,000 $0 4.99%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $375,000 $375,000 $0 3.99%
    GREEN BAY, WI (FHA|USDA|VA) 2 $340,000 $170,000 $0 4.59%
    FOND DU LAC, WI (FHA|USDA|VA) 1 $165,000 $165,000 $0 5.69%
    Platteville, WI (FHA|USDA|VA) 1 $115,000 $115,000 $0 4.29%
    Baraboo, WI (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.59%
    Bank Of Deerfield's top markets include Madison, Watertown, Janesville, Milwaukee, and Beaver Dam among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)

    • Similar Lenders

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

    PremierBank
    Similarity Rank: 306
    Badger Bank
    Similarity Rank: 308
    Hometown Bank
    Similarity Rank: 323
    Landmark Credit Union
    Similarity Rank: 364
    Bank of Sun Prairie
    Similarity Rank: 390
    Bank of Deerfield
    Similarity Rank: 403
    State Bank of Cross Plains
    Similarity Rank: 414
    Starion Bank
    Similarity Rank: 418
    WISCONSIN MORTGAGE CORPORATION
    Similarity Rank: 464
    Farmers & Merchants State Bank
    Similarity Rank: 481

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 182 $53,560,000 $294,286 $1,586 4.96%

    For 2022, Bank Of Deerfield's most frequently originated type of loan was Conventional, with 182 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 141 $43,395,000 $307,766 $1,746 5.04%
    Refi 25 $6,815,000 $272,600 $1,151 4.92%
    Cash Out Refi 9 $2,125,000 $236,111 $1,319 3.71%
    Home Improvement 4 $310,000 $77,500 $357 4.82%
    Other 3 $915,000 $305,000 $1,935 5.42%

    For 2022, Bank Of Deerfield's most frequently cited loan purpose was Home Purchase, with 141 originations. The 2nd most popular reason was Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 60 $14,040,000 $234,000 $1,570 5.07%
    30 Year 59 $21,335,000 $361,610 $1,607 4.64%
    3 Year 30 $10,100,000 $336,667 $0 5.43%
    5 Year 13 $1,735,000 $133,462 $247 5.27%
    1 Year 7 $1,555,000 $222,143 $0 5.49%
    15 Year 7 $1,235,000 $176,429 $1,870 4.32%
    20 Year 3 $505,000 $168,333 $1,555 4.08%
    10 Year 3 $3,055,000 $1,018,333 $897 4.00%

    For 2022, Bank Of Deerfield's most frequently cited loan duration was Other, with 60 originations. The 2nd most popular length was 30 Year, with 59 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 99 $31,495,000 $318,131
    $1k-2k 1 $275,000 $275,000
    $3k-4k 1 $285,000 $285,000

    Bank Of Deerfield's average total fees were $1,607, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 99 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 80 $19,290,000 $241,125
    5-6% 53 $17,395,000 $328,208
    3-4% 27 $11,465,000 $424,630
    6-7% 17 $4,385,000 $257,941
    7-8% 3 $435,000 $145,000
    2.5-3% 2 $590,000 $295,000

    During 2022, Bank Of Deerfield's average interest rate for loans was 4.64%, while their most frequently originated rate bucket for loans was 4-5%, with 80 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 65 $9,815,000 $151,000 $1,589 5.10%
    $200k-400k 65 $18,365,000 $282,538 $1,737 4.83%
    $400k-600k 22 $10,580,000 $480,909 $1,501 4.69%
    $100,000 or less 19 $1,315,000 $69,211 $1,217 5.18%
    $600k-1MM 7 $5,485,000 $783,571 $1,273 5.03%
    $1MM+ 4 $8,000,000 $2,000,000 $1,460 5.03%

    2022 saw Bank Of Deerfield place emphasis on $100k-200k loans with 65 originations, totaling $9,815,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 40 $10,710,000 $267,750 $1,733 4.80%
    $150k-250k 28 $10,550,000 $376,786 $1,350 4.52%
    $50k-75k 23 $3,955,000 $171,957 $1,600 4.98%
    $75k-100k 15 $3,775,000 $251,667 $1,574 5.04%
    $250k+ 12 $6,490,000 $540,833 $1,454 5.14%
    $50k or less 10 $1,300,000 $130,000 $1,571 4.61%

    Bank Of Deerfield lent most frequently to those with incomes in the $100k-150k range, with 40 originations. The second most popular income band? $150k-250k, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 28 $6,660,000 $237,857 $1,550 4.62%
    30-36% 22 $6,500,000 $295,455 $1,770 4.89%
    >60% 11 $2,855,000 $259,545 $1,018 5.24%
    43% 8 $2,310,000 $288,750 $896 5.19%
    42% 7 $2,825,000 $403,571 $1,590 4.49%
    <20% 7 $1,095,000 $156,429 $1,661 4.83%
    49% 6 $1,220,000 $203,333 $2,279 4.86%
    44% 5 $1,115,000 $223,000 $1,187 4.69%
    41% 5 $1,535,000 $307,000 $1,138 4.26%
    50-60% 4 $1,890,000 $472,500 $821 4.93%
    48% 4 $840,000 $210,000 $1,413 4.94%
    39% 4 $1,260,000 $315,000 $1,899 4.70%
    37% 4 $1,830,000 $457,500 $943 4.53%
    38% 3 $1,225,000 $408,333 $2,290 4.92%
    40% 3 $645,000 $215,000 $1,486 4.18%
    36% 3 $655,000 $218,333 $2,088 5.11%
    45% 3 $1,325,000 $441,667 $2,290 5.41%
    47% 2 $1,020,000 $510,000 $973 4.49%
    46% 1 $465,000 $465,000 $2,019 5.59%

    Bank Of Deerfield lent most frequently to those with DTI ratios of 20-30%, with 28 originations. The next most common DTI ratio? 30-36%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 122 $35,400,000 $290,164 $1,571 4.80%
    Not applicable 52 $16,290,000 $313,269 $0 5.33%
    Not provided 7 $1,775,000 $253,571 $1,825 4.64%
    American Indian 1 $95,000 $95,000 $0 6.49%

    Approval Rates

    Total approvals of all applications
    96.68%

    Bank Of Deerfield 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
    87.91%

    Bank Of Deerfield has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $35,000 $35,000
    NA 181 $53,525,000 $295,718

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    182 $53,560,000 $294,286

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $1,330,000 $110,833 $1,128 5.05%
    40-60% 29 $8,075,000 $278,448 $1,548 4.56%
    60-80% 92 $26,910,000 $292,500 $1,437 5.08%
    80-100% 46 $17,130,000 $372,391 $2,035 4.93%
    Under 20% 3 $115,000 $38,333 $348 4.92%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    BANK OF AMERICA, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Trouble during payment process 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 20.0%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Closing on a mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Struggling to pay mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 7 46.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION FHA mortgage Struggling to pay mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 6.7%