Marine Mortgage Rates, Fees & Info

La Crosse, WI

LEI: 5493007DIB8YPDM6NR52

Tax ID: 39-0827305

1 stars - out of 5 stars, based on 37 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Marine is a smaller mortgage company specializing in Refi and Home Purchase loans. Marine has a high proportion of conventional loans. Their top markets include Milwaukee, Des Moines, Eau Claire, Green Bay, and Fond Du Lac among others. Marine has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Marine is typically an average fee lendor.


Originations

1,376

Origination Dollar Volume (All Markets)

$166,420,000

Relative Rate

Marine's average 30 year fixed rate mortgage of loans were 8.81%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 5.66%.

Relative Fees

Marine's average total fees for a 30 year fixed rate mortgage are $4,465.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Outside of Metro Areas 271 $27,525,000 $101,568 $2,812 7.64%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 187 $22,685,000 $121,310 $3,311 8.08%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 88 $12,550,000 $142,614 $3,969 8.00%
EAU CLAIRE, WI (FHA|USDA|VA) 78 $10,250,000 $131,410 $3,274 7.11%
GREEN BAY, WI (FHA|USDA|VA) 75 $9,705,000 $129,400 $3,635 7.59%
FOND DU LAC, WI (FHA|USDA|VA) 90 $9,430,000 $104,778 $1,958 6.35%
MADISON, WI (FHA|USDA|VA) 50 $8,770,000 $175,400 $3,960 7.01%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 63 $7,595,000 $120,556 $2,081 5.23%
SHEBOYGAN, WI (FHA|USDA|VA) 51 $6,935,000 $135,980 $3,355 7.91%
APPLETON, WI (FHA|USDA|VA) 36 $5,200,000 $144,444 $3,141 7.55%
RACINE, WI (FHA|USDA|VA) 37 $4,505,000 $121,757 $2,978 7.05%
Beaver Dam, WI (FHA|USDA|VA) 32 $4,040,000 $126,250 $2,698 7.11%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 32 $3,920,000 $122,500 $2,947 9.51%
ROCHESTER, MN (FHA|USDA|VA) 28 $3,800,000 $135,714 $3,218 6.46%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 42 $3,580,000 $85,238 $2,572 8.06%
Platteville, WI (FHA|USDA|VA) 28 $3,380,000 $120,714 $2,428 6.12%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 18 $2,480,000 $137,778 $3,191 7.05%
Manitowoc, WI (FHA|USDA|VA) 22 $1,940,000 $88,182 $2,208 9.47%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 12 $1,560,000 $130,000 $3,229 8.81%
Menomonie, WI (FHA|USDA|VA) 14 $1,520,000 $108,571 $2,935 7.61%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 9 $1,355,000 $150,556 $4,020 7.22%
Whitewater, WI (FHA|USDA|VA) 10 $1,320,000 $132,000 $4,018 8.13%
Winona, MN (FHA|USDA|VA) 11 $1,265,000 $115,000 $2,996 7.84%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 7 $1,095,000 $156,429 $4,424 8.03%
Marinette, WI-MI (FHA|USDA|VA) 10 $1,020,000 $102,000 $3,800 8.98%
WAUSAU-WESTON, WI (FHA|USDA|VA) 5 $805,000 $161,000 $2,994 5.03%
Shawano, WI (FHA|USDA|VA) 6 $760,000 $126,667 $3,635 7.86%
AMES, IA (FHA|USDA|VA) 6 $730,000 $121,667 $3,654 9.36%
Freeport, IL (FHA|USDA|VA) 4 $680,000 $170,000 $3,557 6.76%
CEDAR RAPIDS, IA (FHA|USDA|VA) 4 $630,000 $157,500 $2,773 6.27%
WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 5 $605,000 $121,000 $3,894 8.11%
Austin, MN (FHA|USDA|VA) 6 $590,000 $98,333 $3,720 8.24%
DUBUQUE, IA (FHA|USDA|VA) 3 $495,000 $165,000 $2,018 7.89%
Pella, IA (FHA|USDA|VA) 4 $440,000 $110,000 $1,962 8.98%
Muscatine, IA (FHA|USDA|VA) 4 $440,000 $110,000 $3,523 7.45%
DULUTH, MN-WI (FHA|USDA|VA) 3 $375,000 $125,000 $2,474 9.52%
Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 2 $320,000 $160,000 $4,166 6.24%
Clinton, IA (FHA|USDA|VA) 3 $295,000 $98,333 $3,088 7.80%
Stevens Point, WI (FHA|USDA|VA) 3 $295,000 $98,333 $3,401 9.06%
Baraboo, WI (FHA|USDA|VA) 2 $290,000 $145,000 $3,371 8.79%
ROCKFORD, IL (FHA|USDA|VA) 2 $250,000 $125,000 $2,920 6.37%
Burlington, IA-IL (FHA|USDA|VA) 2 $200,000 $100,000 $3,032 9.73%
Marshalltown, IA (FHA|USDA|VA) 2 $170,000 $85,000 $3,849 7.73%
Iron Mountain, MI-WI (FHA|USDA|VA) 2 $160,000 $80,000 $3,988 6.97%
Carroll, IA (FHA|USDA|VA) 1 $145,000 $145,000 $2,994 3.25%
Mason City, IA (FHA|USDA|VA) 2 $100,000 $50,000 $3,353 9.86%
Ottumwa, IA (FHA|USDA|VA) 1 $85,000 $85,000 $4,124 8.73%
Fort Dodge, IA (FHA|USDA|VA) 1 $55,000 $55,000 $3,509 8.13%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $55,000 $55,000 $1,814 9.86%
Sterling, IL (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.73%

Marine's top markets include Milwaukee, Des Moines, Eau Claire, Green Bay, and Fond Du Lac among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,376 $166,420,000 $120,945 $3,061 7.51%

For the 2021 period, Marine's most frequently originated loan type of loans were Conventional, with 1,376 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 579 $71,805,000 $124,016 $2,679 6.60%
Home Purchase 540 $67,390,000 $124,796 $3,856 8.76%
Cash Out Refi 252 $26,930,000 $106,865 $2,218 6.89%
Home Improvement 3 $275,000 $91,667 $3,852 8.98%
Other 2 $20,000 $10,000 $1,172 7.98%

For the 2021, Marine's most frequently cited loan purpose of loans were Refi, with 579 originations. The 2nd most popular reason of loans were Home Purchase, with 540 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 448 $64,320,000 $143,571 $4,465 8.81%
15 Year 373 $46,515,000 $124,705 $2,258 5.22%
20 Year 313 $38,245,000 $122,188 $2,799 8.02%
10 Year 124 $8,980,000 $72,419 $2,100 9.29%
Other 88 $6,450,000 $73,295 $1,965 6.22%
5 Year 21 $1,075,000 $51,190 $1,342 8.39%
3 Year 5 $95,000 $19,000 $890 9.18%
30+ year 4 $740,000 $185,000 $1,336 3.10%

For the 2021, Marine's most frequently cited loan length of loans were 30 Year, with 448 originations. The 2nd most popular length of loans were 15 Year, with 373 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 740 $82,240,000 $111,135
$3k-4k 257 $40,345,000 $156,984
$2k-3k 178 $16,870,000 $94,775
$1k-2k 101 $4,945,000 $48,960
$5k+ 72 $20,360,000 $282,778

$4,465 of loans were Marine's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 740 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
Over 8% 605 $63,455,000 $104,884
7-8% 314 $41,460,000 $132,038
3-4% 190 $27,700,000 $145,789
2.5-3% 126 $15,750,000 $125,000
6-7% 63 $8,335,000 $132,302
<2.5% 33 $3,575,000 $108,333
4-5% 33 $4,055,000 $122,879
5-6% 8 $1,630,000 $203,750

During 2021, Marine's average interest rate of loans were 8.81%, while their most frequently originated rate bucket of loans were Over 8%, with 605 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 617 $38,255,000 $62,002 $2,132 8.21%
$100k-200k 581 $80,745,000 $138,976 $3,404 7.12%
$200k-400k 170 $43,670,000 $256,882 $4,954 6.40%
$400k-600k 8 $3,750,000 $468,750 $7,174 5.47%

2021 saw Marine place emphasis on $100,000 or less loans with 617 originations, totaling $38,255,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 399 $42,335,000 $106,103 $2,938 8.23%
$50k or less 343 $29,365,000 $85,612 $2,703 7.91%
$75k-100k 288 $37,250,000 $129,340 $3,246 7.38%
$100k-150k 253 $38,665,000 $152,826 $3,234 6.68%
$150k-250k 69 $14,335,000 $207,754 $4,282 5.96%
$250k+ 9 $2,385,000 $265,000 $5,383 6.18%

Marine lent most frequently to those with incomes in the $50k-75k range, with 399 originations. The second most popular income band? $50k or less, with 343 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 308 $32,970,000 $107,045 $2,793 7.41%
30-36% 239 $28,435,000 $118,975 $3,035 7.70%
<20% 92 $7,640,000 $83,043 $2,217 6.25%
50-60% 76 $10,310,000 $135,658 $4,121 8.04%
>60% 49 $7,395,000 $150,918 $3,901 7.29%
44% 49 $6,475,000 $132,143 $3,249 7.46%
38% 46 $5,680,000 $123,478 $2,712 8.32%
40% 45 $5,415,000 $120,333 $3,273 7.02%
42% 45 $5,615,000 $124,778 $3,309 7.38%
43% 44 $6,100,000 $138,636 $3,400 8.06%
45% 42 $5,330,000 $126,905 $3,473 8.21%
41% 41 $5,095,000 $124,268 $2,883 8.08%
39% 40 $4,930,000 $123,250 $2,559 7.67%
36% 40 $4,620,000 $115,500 $2,827 6.54%
37% 36 $5,370,000 $149,167 $2,891 7.08%
46% 35 $4,565,000 $130,429 $2,903 8.42%
48% 32 $4,200,000 $131,250 $3,482 8.39%
47% 28 $3,450,000 $123,214 $3,582 8.27%
49% 27 $3,705,000 $137,222 $3,168 7.98%

Marine lent most frequently to those with DTI ratios of 20-30%, with 308 originations. The next most common DTI ratio? 30-36%, with 239 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,295 $157,575,000 $121,680 $3,048 7.44%
Black 62 $5,920,000 $95,484 $3,054 9.22%
Asian 12 $1,540,000 $128,333 $4,196 7.10%
Other Pacific Islander 3 $595,000 $198,333 $3,105 3.55%
Not applicable 2 $450,000 $225,000 $0 0.00%
Other Asian 1 $275,000 $275,000 $7,650 8.38%
American Indian 1 $65,000 $65,000 $1,895 2.90%

Approval Rates

Total approvals of all applications
74.69%

Marine has a below average approval rate.

Pick Rate

Approvals leading to origination
-6.90%

Marine has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 1,376 $166,420,000 $120,945

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,376 $166,420,000 $120,945

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 128 $8,040,000 $62,813 $1,855 6.89%
40-60% 182 $17,580,000 $96,593 $2,289 6.36%
60-80% 456 $61,670,000 $135,241 $2,983 7.02%
80-100% 518 $73,240,000 $141,390 $3,898 8.30%
Over 100% 5 $565,000 $113,000 $3,490 7.32%
Under 20% 52 $1,640,000 $31,538 $1,173 8.56%