Horicon Bank Mortgage Rates, Fees & Info

Horicon, WI

LEI: 549300GIXEN5875K5W17

Tax ID: 39-0356800

5 stars - Updated: 10/7/24 - out of 5 stars, based on 22 reviews

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

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Mortgage Data

Review & Overview

Horicon Bank is a smaller bank specializing in Home Purchase and Refi loans. Horicon Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Milwaukee, Beaver Dam, Fond Du Lac, Oshkosh, and Madison among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

Horicon Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Horicon 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 6.40% 10/7/24
30 Year Conventional Refi 6.44% 10/7/24
30 Year Cash-out Refi 6.47% 10/7/24
30 Year USDA Purchase 7.04% 10/7/24
15 Year Conventional Purchase 6.05% 10/7/24
15 Year Conventional Refi 6.06% 10/7/24
15 Year Cash-out Refi 6.06% 10/7/24
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.

Horicon Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Horicon 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

463

Origination Dollar Volume (All Markets)

$105,395,000
Show all (6) awards

Relative Rate

Horicon Bank's average 30 year fixed mortgage rate was 6.6%.

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

This yields a difference of 0.12%.

Relative Fees (Closing Costs)

Horicon Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $1,944.

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
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 76 $38,240,000 $503,158 $1,803 6.88%
Beaver Dam, WI (FHA|USDA|VA) 152 $20,550,000 $135,197 $1,161 7.11%
FOND DU LAC, WI (FHA|USDA|VA) 101 $17,905,000 $177,277 $1,303 6.99%
Outside of Metro Areas 50 $10,230,000 $204,600 $1,501 6.71%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 26 $6,130,000 $235,769 $1,400 6.88%
MADISON, WI (FHA|USDA|VA) 16 $4,560,000 $285,000 $1,734 6.95%
APPLETON, WI (FHA|USDA|VA) 8 $2,030,000 $253,750 $1,958 6.95%
SHEBOYGAN, WI (FHA|USDA|VA) 15 $1,875,000 $125,000 $3,609 7.08%
WAUSAU-WESTON, WI (FHA|USDA|VA) 4 $1,390,000 $347,500 $705 6.82%
Shawano, WI (FHA|USDA|VA) 2 $550,000 $275,000 $1,614 7.00%
GREEN BAY, WI (FHA|USDA|VA) 6 $530,000 $88,333 $725 7.43%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $405,000 $405,000 $0 6.50%
Stevens Point, WI (FHA|USDA|VA) 1 $295,000 $295,000 $2,295 6.25%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $215,000 $215,000 $4,551 6.50%
Baraboo, WI (FHA|USDA|VA) 1 $165,000 $165,000 $0 7.50%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $155,000 $155,000 $0 7.50%
Marinette, WI-MI (FHA|USDA|VA) 1 $125,000 $125,000 $1,934 5.95%
Manitowoc, WI (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.95%
Horicon Bank's top markets include Milwaukee, Beaver Dam, Fond Du Lac, Oshkosh, and Madison among others.

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

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

    NORTHWESTERN MUTUAL
    Similarity Rank: 44
    Glacier Hills Credit Union
    Similarity Rank: 54
    PROSPERA Credit Union
    Similarity Rank: 56
    Starion Bank
    Similarity Rank: 147
    Citizens Bank
    Similarity Rank: 192
    CAPITAL Credit Union
    Similarity Rank: 198
    Empower Credit Union
    Similarity Rank: 203
    Fox Valley Savings Bank
    Similarity Rank: 209
    FOX COMMUNITIES
    Similarity Rank: 216
    Community First Credit Union
    Similarity Rank: 253

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 458 $104,590,000 $228,362 $1,397 6.97%
    HELOC 3 $475,000 $158,333 n/a 8.25%
    USDA 2 $330,000 $165,000 $3,588 7.06%

    For 2023, Horicon Bank's most frequently originated type of loan was Conventional, with 458 originations. Their 2nd most popular type was HELOC, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 236 $64,750,000 $274,364 $2,089 6.76%
    Refi 85 $28,645,000 $337,000 $960 6.97%
    Home Improvement 57 $2,325,000 $40,789 $494 7.51%
    Cash Out Refi 51 $7,675,000 $150,490 $913 6.95%
    Other 34 $2,000,000 $58,824 $479 7.66%

    For 2023, Horicon Bank's most frequently cited loan purpose was Home Purchase, with 236 originations. The 2nd most popular reason was Refi, with 85 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 192 $51,900,000 $270,313 $1,944 6.60%
    10 Year 78 $3,300,000 $42,308 $457 7.57%
    5 Year 74 $27,350,000 $369,595 $399 7.24%
    3 Year 47 $9,105,000 $193,723 $0 7.21%
    15 Year 38 $5,210,000 $137,105 $1,216 6.45%
    20 Year 13 $1,435,000 $110,385 $970 7.28%
    Other 12 $1,720,000 $143,333 $0 7.83%
    1 Year 9 $5,375,000 $597,222 $1,510 6.99%

    For 2023, Horicon Bank's most frequently cited loan duration was 30 Year, with 192 originations. The 2nd most popular length was 10 Year, with 78 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 326 $59,370,000 $182,117
    $1k-2k 6 $1,820,000 $303,333
    $2k-3k 2 $630,000 $315,000
    $3k-4k 2 $620,000 $310,000
    $4k-5k 1 $175,000 $175,000

    Horicon Bank's average total fees were $1,944, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 326 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 184 $35,070,000 $190,598
    6-7% 169 $43,795,000 $259,142
    5-6% 83 $23,895,000 $287,892
    Over 8% 27 $2,635,000 $97,593

    During 2023, Horicon Bank's average interest rate for loans was 6.60%, while their most frequently originated rate bucket for loans was 7-8%, with 184 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 172 $8,970,000 $52,151 $623 7.28%
    $100k-200k 132 $19,140,000 $145,000 $1,669 6.93%
    $200k-400k 108 $30,070,000 $278,426 $2,112 6.75%
    $400k-600k 29 $13,505,000 $465,690 $2,047 6.66%
    $600k-1MM 13 $9,255,000 $711,923 $1,610 6.15%
    $1MM+ 9 $24,455,000 $2,717,222 $516 6.71%

    2023 saw Horicon Bank place emphasis on $100,000 or less loans with 172 originations, totaling $8,970,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 98 $18,670,000 $190,510 $1,475 7.11%
    $50k-75k 81 $9,745,000 $120,309 $1,270 6.90%
    $150k-250k 66 $17,720,000 $268,485 $1,563 6.86%
    $75k-100k 60 $8,260,000 $137,667 $1,278 6.96%
    $50k or less 40 $3,440,000 $86,000 $1,292 6.68%
    $250k+ 24 $8,970,000 $373,750 $1,734 6.82%

    Horicon Bank lent most frequently to those with incomes in the $100k-150k range, with 98 originations. The second most popular income band? $50k-75k, with 81 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 79 $14,865,000 $188,165 $1,420 6.86%
    20-30% 71 $12,445,000 $175,282 $1,388 6.87%
    <20% 39 $5,645,000 $144,744 $1,284 6.54%
    41% 17 $2,255,000 $132,647 $1,078 7.38%
    37% 14 $2,630,000 $187,857 $1,737 7.00%
    42% 13 $4,345,000 $334,231 $1,469 6.54%
    40% 13 $2,135,000 $164,231 $980 6.87%
    39% 12 $2,260,000 $188,333 $1,321 7.25%
    43% 12 $1,810,000 $150,833 $1,501 7.01%
    38% 11 $2,085,000 $189,545 $1,275 6.78%
    36% 10 $1,500,000 $150,000 $1,516 6.86%
    44% 10 $2,750,000 $275,000 $2,342 6.80%
    45% 8 $1,430,000 $178,750 $1,630 7.09%
    50-60% 7 $1,985,000 $283,571 $1,291 6.70%
    48% 7 $1,485,000 $212,143 $2,355 7.14%
    46% 6 $1,460,000 $243,333 $1,479 6.63%
    >60% 5 $835,000 $167,000 $712 7.50%
    49% 2 $620,000 $310,000 $707 7.88%
    47% 1 $75,000 $75,000 $961 6.00%

    Horicon Bank lent most frequently to those with DTI ratios of 30-36%, with 79 originations. The next most common DTI ratio? 20-30%, with 71 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 346 $61,240,000 $176,994 $1,355 6.94%
    Not applicable 88 $37,660,000 $427,955 $0 7.19%
    Not provided 19 $5,025,000 $264,474 $1,959 6.54%
    Black 3 $575,000 $191,667 $4,024 6.63%
    Asian 2 $360,000 $180,000 $0 6.65%
    American Indian 4 $340,000 $85,000 $391 7.51%
    Other Pacific Islander 1 $195,000 $195,000 $0 7.65%

    Approval Rates

    Total approvals of all applications
    92.69%

    Horicon Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.44%

    Horicon Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 463 $105,395,000 $227,635

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    463 $105,395,000 $227,635

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 75 $7,805,000 $104,067 $876 7.04%
    40-60% 65 $13,175,000 $202,692 $1,517 6.81%
    60-80% 160 $60,090,000 $375,563 $1,896 6.87%
    80-100% 73 $19,435,000 $266,233 $2,239 6.65%
    Over 100% 2 $1,410,000 $705,000 $3,649 6.42%
    Under 20% 88 $3,480,000 $39,545 $450 7.51%