Bankers' Bank Mortgage Rates, Fees & Info

MADISON, WI

LEI: 549300EES32R2VOEK894

Tax ID: 39-1373892

5 stars - Updated: 6/9/24 - out of 5 stars, based on 17 reviews

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

Jump to:

Mortgage Data

Review & Overview

Bankers' Bank is a smaller bank specializing in Home Purchase loans. Bankers' Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Madison, St. Louis, Milwaukee, Omaha, and Sheboygan among others. We have data for 46 markets. (Some data included below & more in-depth data is available with an active subscription.)

Bankers' Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Bankers' 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 6.66% 6/9/24
30 Year Conventional Refi 6.51% 6/9/24
30 Year Cash-out Refi 6.62% 6/9/24
30 Year VA Purchase 6.56% 6/9/24
30 Year USDA Purchase 7.04% 6/9/24
15 Year Conventional Purchase 5.83% 6/9/24
15 Year Conventional Refi 5.92% 6/9/24
15 Year Cash-out Refi 5.92% 6/9/24
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.

Bankers' Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Bankers' 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

287

Origination Dollar Volume (All Markets)

$57,385,000
Show all (6) awards

Relative Rate

Bankers' Bank's average 30 year fixed mortgage rate was 6.75%.

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

This yields a difference of 0.27%.

Relative Fees (Closing Costs)

Bankers' Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,223.

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
Outside of Metro Areas 101 $16,135,000 $159,752 $3,121 6.62%
MADISON, WI (FHA|USDA|VA) 12 $5,450,000 $454,167 $3,119 6.38%
ST. LOUIS, MO-IL (FHA|USDA|VA) 31 $5,165,000 $166,613 $2,786 6.97%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 16 $4,280,000 $267,500 $2,700 6.72%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 13 $3,425,000 $263,462 $3,084 6.86%
SHEBOYGAN, WI (FHA|USDA|VA) 14 $3,050,000 $217,857 $2,157 6.24%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 12 $2,750,000 $229,167 $3,242 6.60%
Crawfordsville, IN (FHA|USDA|VA) 7 $1,325,000 $189,286 $3,356 7.23%
Marinette, WI-MI (FHA|USDA|VA) 8 $1,190,000 $148,750 $2,767 6.56%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 7 $1,155,000 $165,000 $3,655 6.48%
Carroll, IA (FHA|USDA|VA) 7 $1,065,000 $152,143 $4,412 6.57%
WICHITA, KS (FHA|USDA|VA) 2 $910,000 $455,000 $8,087 7.44%
FOND DU LAC, WI (FHA|USDA|VA) 4 $900,000 $225,000 $2,410 6.34%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 4 $800,000 $200,000 $4,945 6.31%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $770,000 $385,000 $5,419 6.88%
Mason City, IA (FHA|USDA|VA) 4 $710,000 $177,500 $5,300 6.63%
Shawano, WI (FHA|USDA|VA) 2 $620,000 $310,000 $2,114 7.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $600,000 $300,000 $3,509 7.38%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 3 $435,000 $145,000 $3,115 6.92%
EAU CLAIRE, WI (FHA|USDA|VA) 2 $430,000 $215,000 $4,233 7.25%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $395,000 $395,000 $2,811 6.50%
Hutchinson, KS (FHA|USDA|VA) 1 $395,000 $395,000 $7,017 6.75%
Pittsburg, KS (FHA|USDA|VA) 2 $380,000 $190,000 $4,600 6.75%
BLOOMINGTON, IL (FHA|USDA|VA) 2 $380,000 $190,000 $2,115 6.88%
Coffeyville, KS (FHA|USDA|VA) 2 $360,000 $180,000 $4,191 6.69%
DULUTH, MN-WI (FHA|USDA|VA) 1 $355,000 $355,000 $3,996 6.38%
APPLETON, WI (FHA|USDA|VA) 1 $335,000 $335,000 $2,124 6.88%
Storm Lake, IA (FHA|USDA|VA) 2 $330,000 $165,000 $3,488 7.06%
RACINE, WI (FHA|USDA|VA) 2 $310,000 $155,000 $4,029 7.19%
GREEN BAY, WI (FHA|USDA|VA) 1 $285,000 $285,000 $1,983 6.88%
PEORIA, IL (FHA|USDA|VA) 1 $275,000 $275,000 $2,641 6.13%
Stevens Point, WI (FHA|USDA|VA) 1 $265,000 $265,000 $1,923 7.63%
Beaver Dam, WI (FHA|USDA|VA) 2 $250,000 $125,000 $2,580 7.50%
LAWRENCE, KS (FHA|USDA|VA) 1 $235,000 $235,000 $3,880 6.63%
Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $235,000 $235,000 $2,208 6.13%
Logansport, IN (FHA|USDA|VA) 1 $205,000 $205,000 $2,549 6.88%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $185,000 $185,000 $2,455 6.38%
Spencer, IA (FHA|USDA|VA) 2 $180,000 $90,000 $2,470 6.06%
Ottawa, KS (FHA|USDA|VA) 2 $180,000 $90,000 $3,889 7.19%
Mount Vernon, IL (FHA|USDA|VA) 1 $145,000 $145,000 $2,604 6.00%
AMES, IA (FHA|USDA|VA) 1 $125,000 $125,000 $2,193 5.63%
Manitowoc, WI (FHA|USDA|VA) 1 $115,000 $115,000 $2,211 7.63%
Freeport, IL (FHA|USDA|VA) 1 $105,000 $105,000 $3,211 6.88%
WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $85,000 $85,000 $2,721 7.25%
JOPLIN, MO (FHA|USDA|VA) 1 $65,000 $65,000 $4,051 6.63%
Lincoln, IL (FHA|USDA|VA) 1 $45,000 $45,000 $1,444 7.13%
Bankers' Bank's top markets include Madison, St. Louis, Milwaukee, Omaha, and Sheboygan among others.

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

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

    UNITEDONE Credit Union
    Similarity Rank: 18
    Bank
    Similarity Rank: 26
    North Shore Federal Credit Union
    Similarity Rank: 28
    PCM
    Similarity Rank: 32
    NORTHWESTERN MUTUAL
    Similarity Rank: 44
    Glacier Hills Credit Union
    Similarity Rank: 54
    METRO CU
    Similarity Rank: 56
    Security Financial Bank
    Similarity Rank: 56
    CO-OP Credit Union
    Similarity Rank: 56
    FINANCIAL PLUS Credit Union
    Similarity Rank: 60

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 280 $56,380,000 $201,357 $3,120 6.68%
    USDA 7 $1,005,000 $143,571 $4,702 7.09%

    For 2023, Bankers' Bank's most frequently originated type of loan was Conventional, with 280 originations. Their 2nd most popular type was USDA, with 7 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 238 $49,510,000 $208,025 $3,245 6.71%
    Cash Out Refi 27 $3,635,000 $134,630 $2,799 6.63%
    Refi 21 $4,065,000 $193,571 $2,609 6.54%
    Home Improvement 1 $175,000 $175,000 $3,726 6.00%

    For 2023, Bankers' Bank's most frequently cited loan purpose was Home Purchase, with 238 originations. The 2nd most popular reason was Cash Out Refi, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 247 $52,415,000 $212,206 $3,223 6.75%
    15 Year 30 $4,160,000 $138,667 $2,826 6.04%
    20 Year 7 $635,000 $90,714 $2,888 7.34%
    10 Year 2 $50,000 $25,000 $2,176 6.56%
    Other 1 $125,000 $125,000 $1,479 6.13%

    For 2023, Bankers' Bank's most frequently cited loan duration was 30 Year, with 247 originations. The 2nd most popular length was 15 Year, with 30 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 109 $18,455,000 $169,312
    $<1k 101 $19,965,000 $197,673
    $2k-3k 48 $10,450,000 $217,708
    $3k-4k 16 $4,330,000 $270,625
    $4k-5k 7 $2,265,000 $323,571
    $5k+ 5 $1,855,000 $371,000

    Bankers' Bank's average total fees were $3,223, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 109 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 165 $32,715,000 $198,273
    7-8% 70 $13,870,000 $198,143
    5-6% 45 $8,535,000 $189,667
    Over 8% 4 $1,710,000 $427,500
    4-5% 3 $555,000 $185,000

    During 2023, Bankers' Bank's average interest rate for loans was 6.75%, while their most frequently originated rate bucket for loans was 6-7%, with 165 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 116 $16,920,000 $145,862 $3,101 6.62%
    $200k-400k 82 $22,160,000 $270,244 $3,380 6.70%
    $100,000 or less 62 $4,500,000 $72,581 $2,534 6.71%
    $400k-600k 20 $9,120,000 $456,000 $3,911 6.90%
    $600k-1MM 7 $4,685,000 $669,286 $4,854 7.07%

    2023 saw Bankers' Bank place emphasis on $100k-200k loans with 116 originations, totaling $16,920,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 71 $9,585,000 $135,000 $2,886 6.64%
    $75k-100k 61 $11,635,000 $190,738 $3,189 6.72%
    $100k-150k 58 $13,400,000 $231,034 $3,333 6.67%
    $50k or less 44 $4,350,000 $98,864 $2,616 6.70%
    $150k-250k 41 $12,845,000 $313,293 $3,802 6.71%
    $250k+ 11 $5,045,000 $458,636 $3,754 6.85%

    Bankers' Bank lent most frequently to those with incomes in the $50k-75k range, with 71 originations. The second most popular income band? $75k-100k, with 61 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 81 $16,065,000 $198,333 $3,214 6.62%
    30-36% 56 $10,530,000 $188,036 $3,113 6.53%
    <20% 22 $2,750,000 $125,000 $2,873 6.66%
    41% 14 $4,090,000 $292,143 $3,292 6.81%
    38% 13 $2,005,000 $154,231 $3,359 6.52%
    36% 12 $2,110,000 $175,833 $2,707 6.60%
    39% 12 $1,950,000 $162,500 $3,163 6.76%
    40% 10 $1,880,000 $188,000 $3,222 6.71%
    48% 10 $3,250,000 $325,000 $2,573 7.13%
    42% 9 $1,345,000 $149,444 $2,932 6.56%
    45% 9 $2,365,000 $262,778 $3,600 6.75%
    46% 8 $2,200,000 $275,000 $3,726 6.88%
    43% 8 $1,820,000 $227,500 $3,286 6.89%
    47% 8 $2,120,000 $265,000 $3,514 7.13%
    37% 7 $1,485,000 $212,143 $3,743 7.29%
    49% 5 $875,000 $175,000 $2,701 6.70%
    44% 3 $545,000 $181,667 $2,765 7.00%

    Bankers' Bank lent most frequently to those with DTI ratios of 20-30%, with 81 originations. The next most common DTI ratio? 30-36%, with 56 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 271 $53,865,000 $198,764 $3,153 6.67%
    Not provided 10 $2,090,000 $209,000 $3,193 7.05%
    Asian 1 $605,000 $605,000 $2,732 7.25%
    Black 3 $435,000 $145,000 $4,427 7.38%
    Other Asian 1 $305,000 $305,000 $1,876 6.75%
    American Indian 1 $85,000 $85,000 $2,281 5.88%

    Approval Rates

    Total approvals of all applications
    89.42%

    Bankers' Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.61%

    Bankers' Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    2490.75 1 $65,000 $65,000
    2766.5 1 $115,000 $115,000
    NA 285 $57,205,000 $200,719

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    287 $57,385,000 $199,948

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $3,090,000 $128,750 $2,599 6.24%
    40-60% 41 $7,195,000 $175,488 $2,908 6.53%
    60-80% 89 $22,125,000 $248,596 $3,269 6.74%
    80-100% 131 $24,875,000 $189,885 $3,280 6.79%
    Under 20% 2 $100,000 $50,000 $2,198 6.25%