Mound City Bank Mortgage Rates, Fees & Info

Platteville, WI

LEI: 549300C70VBQUGXHPR07

Tax ID: 39-0487540

5 stars - Updated: 10/29/24 - out of 5 stars, based on 13 reviews

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

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Mortgage Data

Review & Overview

Mound City Bank is a smaller bank specializing in Home Purchase loans. Mound City Bank has a high proportion of conventional loans. Their top markets by origination volume include: Platteville, Madison, Baraboo, Orlando, and Janesville among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Mound City 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. Mound City 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 relatively high 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.54% 10/29/24
30 Year Conventional Refi 6.49% 10/29/24
30 Year Cash-out Refi 6.60% 10/29/24
15 Year Conventional Purchase 5.96% 10/29/24
15 Year Conventional Refi 6.24% 10/29/24
15 Year Cash-out Refi 6.24% 10/29/24
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.

Mound City Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Mound City 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

165

Origination Dollar Volume (All Markets)

$35,605,000

Awards

Mound City Bank 30 Year Conventional Loans gold Mound City Bank 30 Year Conventional Loans gold Mound City Bank 30 Year Conventional Loans gold Mound City Bank 30 Year Conventional Loans gold
Show all (4) awards

Relative Rate

Mound City Bank's average 30 year fixed mortgage rate was 6.61%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.13%.

Relative Fees (Closing Costs)

Mound City Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,483.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
Platteville, WI (FHA|USDA|VA) 67 $11,445,000 $170,821 $1,822 6.95%
Outside of Metro Areas 50 $11,280,000 $225,600 $1,637 7.10%
MADISON, WI (FHA|USDA|VA) 38 $10,710,000 $281,842 $2,063 6.85%
Baraboo, WI (FHA|USDA|VA) 1 $545,000 $545,000 $3,289 6.99%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $515,000 $515,000 $21,804 8.13%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 3 $455,000 $151,667 $2,941 7.21%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $335,000 $335,000 $2,607 6.38%
DUBUQUE, IA (FHA|USDA|VA) 1 $115,000 $115,000 $2,201 7.89%
CARBONDALE-MARION, IL (FHA|USDA|VA) 1 $85,000 $85,000 $4,087 6.00%
RACINE, WI (FHA|USDA|VA) 1 $65,000 $65,000 $805 7.69%
CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $55,000 $55,000 $1,340 7.69%
Mound City Bank's top markets include Platteville, Madison, Baraboo, Orlando, and Janesville among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Similar Lenders

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

    Royal Bank
    Similarity Rank: 48
    Starion Bank
    Similarity Rank: 147
    Bank of Sun Prairie
    Similarity Rank: 270
    Heartland Credit Union (Madison)
    Similarity Rank: 270
    Mound City Bank
    Similarity Rank: 319
    State Bank of Cross Plains
    Similarity Rank: 364
    The Park Bank
    Similarity Rank: 396
    Settlers Bank
    Similarity Rank: 490
    Oregon Community Bank
    Similarity Rank: 767

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 165 $35,605,000 $215,788 $1,988 6.99%

    For 2023, Mound City Bank's most frequently originated type of loan was Conventional, with 165 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 117 $29,185,000 $249,444 $2,359 6.77%
    Refi 24 $4,150,000 $172,917 $1,081 7.56%
    Other 16 $1,700,000 $106,250 $1,129 7.63%
    Home Improvement 6 $360,000 $60,000 $1,093 7.61%
    Cash Out Refi 2 $210,000 $105,000 $1,199 6.19%

    For 2023, Mound City Bank's most frequently cited loan purpose was Home Purchase, with 117 originations. The 2nd most popular reason was Refi, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 74 $17,900,000 $241,892 $2,483 6.61%
    Other 67 $12,025,000 $179,478 $1,392 7.37%
    5 Year 18 $4,930,000 $273,889 $0 7.32%
    3 Year 3 $445,000 $148,333 $0 7.16%
    15 Year 2 $200,000 $100,000 $3,196 6.00%
    10 Year 1 $105,000 $105,000 $1,736 5.50%

    For 2023, Mound City Bank's most frequently cited loan duration was 30 Year, with 74 originations. The 2nd most popular length was Other, with 67 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 141 $29,375,000 $208,333
    $5k+ 1 $515,000 $515,000

    Mound City Bank's average total fees were $2,483, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 141 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 73 $18,505,000 $253,493
    7-8% 52 $9,890,000 $190,192
    5-6% 22 $4,800,000 $218,182
    Over 8% 18 $2,410,000 $133,889

    During 2023, Mound City Bank's average interest rate for loans was 6.61%, while their most frequently originated rate bucket for loans was 6-7%, with 73 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 56 $7,910,000 $141,250 $1,954 6.80%
    $200k-400k 49 $14,275,000 $291,327 $2,302 6.86%
    $100,000 or less 39 $2,435,000 $62,436 $1,187 7.55%
    $400k-600k 16 $7,390,000 $461,875 $2,981 6.71%
    $600k-1MM 5 $3,595,000 $719,000 $2,217 6.92%

    2023 saw Mound City Bank place emphasis on $100k-200k loans with 56 originations, totaling $7,910,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 47 $10,375,000 $220,745 $1,982 7.04%
    $75k-100k 28 $4,830,000 $172,500 $1,802 6.96%
    $150k-250k 27 $8,495,000 $314,630 $1,774 6.88%
    $50k-75k 27 $3,235,000 $119,815 $1,696 6.98%
    $50k or less 12 $1,340,000 $111,667 $1,932 6.76%
    $250k+ 9 $2,905,000 $322,778 $5,912 7.30%

    Mound City Bank lent most frequently to those with incomes in the $100k-150k range, with 47 originations. The second most popular income band? $75k-100k, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 35 $6,755,000 $193,000 $2,338 6.94%
    20-30% 34 $7,050,000 $207,353 $1,901 6.92%
    <20% 13 $1,905,000 $146,538 $2,073 6.96%
    42% 8 $2,100,000 $262,500 $2,087 6.87%
    44% 7 $1,515,000 $216,429 $1,724 7.34%
    50-60% 6 $1,110,000 $185,000 $1,492 7.37%
    41% 6 $1,430,000 $238,333 $1,986 7.30%
    36% 6 $1,020,000 $170,000 $2,075 7.66%
    38% 5 $935,000 $187,000 $1,265 6.27%
    40% 5 $1,115,000 $223,000 $2,096 7.05%
    45% 4 $1,360,000 $340,000 $1,579 6.13%
    43% 4 $1,160,000 $290,000 $2,720 6.97%
    37% 3 $665,000 $221,667 $1,336 6.49%
    48% 3 $575,000 $191,667 $883 7.32%
    47% 2 $420,000 $210,000 $1,205 6.79%
    49% 2 $500,000 $250,000 $2,483 6.63%
    39% 2 $660,000 $330,000 $2,686 7.03%
    46% 2 $520,000 $260,000 $1,411 7.54%
    >60% 1 $135,000 $135,000 $2,170 6.99%

    Mound City Bank lent most frequently to those with DTI ratios of 30-36%, with 35 originations. The next most common DTI ratio? 20-30%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 146 $30,190,000 $206,781 $1,831 6.97%
    Not applicable 15 $4,425,000 $295,000 $0 7.09%
    Black 1 $515,000 $515,000 $21,804 8.13%
    Asian 2 $390,000 $195,000 $1,894 7.47%
    Native Hawaiian or Islander 1 $85,000 $85,000 $4,087 6.00%

    Approval Rates

    Total approvals of all applications
    96.30%

    Mound City 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
    89.70%

    Mound City Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $45,000 $45,000
    NA 164 $35,560,000 $216,829

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    165 $35,605,000 $215,788

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $2,955,000 $109,444 $1,176 7.57%
    40-60% 15 $2,745,000 $183,000 $1,860 6.93%
    60-80% 50 $12,170,000 $243,400 $2,029 6.85%
    80-100% 61 $17,055,000 $279,590 $2,545 6.80%
    Under 20% 12 $680,000 $56,667 $1,020 7.32%