Horicon Bank Mortgage Rates, Fees & Info

Horicon, WI

LEI: 549300GIXEN5875K5W17

Tax ID: 39-0356800

5 stars - out of 5 stars, based on 31 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Bank Data

    Review & Overview

    Horicon Bank is a smaller bank specializing in Refi, Cash Out Refi, and Home Purchase 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: Beaver Dam, Fond Du Lac, Milwaukee, Oshkosh, and Madison among others. We have data for 24 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 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.

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    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.82% 12/4/22
    30 Year Conventional Refi 6.72% 12/4/22
    30 Year Cash-out Refi 6.84% 12/4/22
    30 Year USDA Purchase 7.31% 12/4/22
    30 Year USDA Refi 7.36% 12/4/22
    15 Year Conventional Purchase 6.02% 12/4/22
    15 Year Conventional Refi 5.96% 12/4/22
    15 Year Cash-out Refi 5.96% 12/4/22
    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.


    Originations

    989

    Origination Dollar Volume (All Markets)

    $183,975,000

    Employee count

    206 Show all (8) awards

    Relative Rate

    Horicon Bank's average 30 year fixed mortgage rate was 3.1%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.05%.

    Relative Fees (Closing Costs)

    Horicon Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $1,391.

    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 $4,750.

    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
    Beaver Dam, WI (FHA|USDA|VA) 338 $51,500,000 $152,367 $1,137 2.97%
    FOND DU LAC, WI (FHA|USDA|VA) 234 $38,200,000 $163,248 $1,187 3.04%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 156 $33,700,000 $216,026 $1,220 2.97%
    Outside of Metro Areas 99 $22,905,000 $231,364 $1,306 3.07%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 75 $16,215,000 $216,200 $1,085 2.97%
    MADISON, WI (FHA|USDA|VA) 35 $7,555,000 $215,857 $1,272 2.97%
    APPLETON, WI (FHA|USDA|VA) 16 $4,740,000 $296,250 $1,226 3.35%
    SHEBOYGAN, WI (FHA|USDA|VA) 8 $2,390,000 $298,750 $1,303 2.72%
    GREEN BAY, WI (FHA|USDA|VA) 7 $1,745,000 $249,286 $1,499 3.22%
    Manitowoc, WI (FHA|USDA|VA) 1 $1,125,000 $1,125,000 $1,292 3.25%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 5 $1,025,000 $205,000 $2,119 3.47%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $505,000 $505,000 $2,471 2.88%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $395,000 $395,000 $0 3.85%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 2 $360,000 $180,000 $1,650 2.63%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $275,000 $275,000 $2,193 2.88%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $235,000 $235,000 $1,289 2.50%
    Whitewater, WI (FHA|USDA|VA) 2 $230,000 $115,000 $811 2.63%
    EAU CLAIRE, WI (FHA|USDA|VA) 1 $195,000 $195,000 $1,179 3.25%
    Shawano, WI (FHA|USDA|VA) 1 $195,000 $195,000 $742 2.75%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $135,000 $135,000 $1,013 2.75%
    Baraboo, WI (FHA|USDA|VA) 1 $115,000 $115,000 $1,272 2.13%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $105,000 $105,000 $846 3.00%
    Iron Mountain, MI-WI (FHA|USDA|VA) 1 $105,000 $105,000 $1,837 2.75%
    Marinette, WI-MI (FHA|USDA|VA) 1 $25,000 $25,000 $1,521 2.88%
    Horicon Bank's top markets include Beaver Dam, Fond Du Lac, Milwaukee, Oshkosh, and Madison among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Indiana (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.

    PROSPERA Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 981 $182,745,000 $186,284 $1,173 3.00%
    USDA 8 $1,230,000 $153,750 $3,234 3.17%

    For 2021, Horicon Bank's most frequently originated type of loan was Conventional, with 981 originations. Their 2nd most popular type was USDA, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 363 $63,315,000 $174,421 $943 2.79%
    Cash Out Refi 318 $60,120,000 $189,057 $1,113 2.93%
    Home Purchase 269 $54,905,000 $204,108 $1,767 3.27%
    Other 23 $3,135,000 $136,304 $676 3.83%
    Home Improvement 16 $2,500,000 $156,250 $804 3.70%

    For 2021, Horicon Bank's most frequently cited loan purpose was Refi, with 363 originations. The 2nd most popular reason was Cash Out Refi, with 318 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 442 $98,210,000 $222,195 $1,391 3.10%
    15 Year 331 $51,455,000 $155,453 $1,090 2.53%
    20 Year 109 $18,415,000 $168,945 $1,066 2.94%
    5 Year 46 $8,440,000 $183,478 $261 4.13%
    10 Year 44 $2,550,000 $57,955 $297 4.23%
    Other 8 $3,890,000 $486,250 $968 4.22%
    1 Year 5 $525,000 $105,000 $524 4.05%
    3 Year 4 $490,000 $122,500 $0 3.78%

    For 2021, Horicon Bank's most frequently cited loan duration was 30 Year, with 442 originations. The 2nd most popular length was 15 Year, with 331 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 896 $163,470,000 $182,444
    $1k-2k 7 $1,825,000 $260,714
    $2k-3k 4 $910,000 $227,500
    $4k-5k 1 $285,000 $285,000

    Horicon Bank's average total fees were $1,391, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 896 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 418 $80,190,000 $191,842
    3-4% 259 $58,315,000 $225,154
    <2.5% 228 $36,060,000 $158,158
    4-5% 73 $7,915,000 $108,425
    5-6% 11 $1,495,000 $135,909

    During 2021, Horicon Bank's average interest rate for loans was 3.10%, while their most frequently originated rate bucket for loans was 2.5-3%, with 418 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 440 $64,130,000 $145,750 $1,230 2.91%
    $200k-400k 272 $73,360,000 $269,706 $1,294 2.93%
    $100,000 or less 226 $15,640,000 $69,204 $908 3.25%
    $400k-600k 39 $17,995,000 $461,410 $1,338 2.89%
    $600k-1MM 9 $7,545,000 $838,333 $2,006 3.76%
    $1MM+ 3 $5,305,000 $1,768,333 $1,292 3.82%

    2021 saw Horicon Bank place emphasis on $100k-200k loans with 440 originations, totaling $64,130,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 240 $50,730,000 $211,375 $1,137 2.87%
    $50k-75k 207 $29,265,000 $141,377 $1,232 2.97%
    $75k-100k 191 $31,615,000 $165,524 $1,218 2.99%
    $50k or less 140 $14,690,000 $104,929 $1,153 3.07%
    $150k-250k 103 $25,005,000 $242,767 $1,156 2.83%
    $250k+ 48 $18,360,000 $382,500 $1,341 3.20%

    Horicon Bank lent most frequently to those with incomes in the $100k-150k range, with 240 originations. The second most popular income band? $50k-75k, with 207 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 325 $60,805,000 $187,092 $1,204 2.91%
    30-36% 171 $32,825,000 $191,959 $1,232 3.00%
    <20% 161 $26,505,000 $164,627 $1,096 2.74%
    42% 32 $5,180,000 $161,875 $1,179 3.14%
    39% 32 $6,390,000 $199,688 $1,047 2.97%
    44% 24 $5,010,000 $208,750 $1,203 2.98%
    43% 23 $3,925,000 $170,652 $1,119 3.24%
    41% 23 $4,985,000 $216,739 $1,261 3.02%
    40% 22 $4,460,000 $202,727 $1,291 2.95%
    37% 22 $3,240,000 $147,273 $1,232 3.05%
    38% 18 $2,980,000 $165,556 $999 3.35%
    36% 18 $3,000,000 $166,667 $1,270 3.13%
    47% 13 $2,355,000 $181,154 $1,340 2.81%
    45% 12 $2,210,000 $184,167 $1,221 2.83%
    48% 10 $2,210,000 $221,000 $926 2.95%
    46% 8 $1,380,000 $172,500 $2,050 2.69%
    49% 8 $1,660,000 $207,500 $1,246 2.86%
    50-60% 6 $870,000 $145,000 $1,320 3.21%
    >60% 3 $455,000 $151,667 $1,211 3.58%

    Horicon Bank lent most frequently to those with DTI ratios of 20-30%, with 325 originations. The next most common DTI ratio? 30-36%, with 171 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 897 $163,525,000 $182,302 $1,193 2.95%
    Not applicable 42 $11,260,000 $268,095 $0 4.04%
    Not provided 37 $6,685,000 $180,676 $1,204 3.07%
    American Indian 5 $875,000 $175,000 $1,008 2.98%
    Asian 4 $580,000 $145,000 $1,090 2.75%
    Other Pacific Islander 1 $445,000 $445,000 $399 3.25%
    Black 2 $390,000 $195,000 $1,183 3.44%
    Asian Indian 1 $215,000 $215,000 $0 4.19%

    Approval Rates

    Total approvals of all applications
    94.13%

    Horicon Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.19%

    Horicon Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 989 $183,975,000 $186,021

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    989 $183,975,000 $186,021

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 71 $7,595,000 $106,972 $972 2.67%
    40-60% 231 $39,605,000 $171,450 $1,077 2.81%
    60-80% 453 $95,885,000 $211,667 $1,196 2.97%
    80-100% 187 $38,155,000 $204,037 $1,624 3.13%
    Over 100% 3 $695,000 $231,667 $0 3.65%
    Under 20% 44 $2,040,000 $46,364 $340 4.32%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Horicon Bank 2251 Omro Road Oshkosh, WI 54904 Full Service B&M $53,287
    Horicon Bank 100 East Midway Road Appleton, WI 54915 Full Service B&M $24,027
    Horicon Bank 105 Industrial Drive Beaver Dam, WI 53916 Full Service B&M $208,501
    Horicon Bank 1188 West Fond Du Lac Street Ripon, WI 54971 Full Service Retail $8,215
    Horicon Bank 1207 West Johnson Street Fond Du Lac, WI 54935 Full Service B&M $35,959
    Horicon Bank 1440 Horicon Street Mayville, WI 53050 Full Service Retail $11,875
    Horicon Bank 1535 West Paradise Drive West Bend, WI 53095 Full Service B&M $115,193
    Horicon Bank 156 South Main Street Iron Ridge, WI 53035 Full Service B&M $23,803
    Horicon Bank 170 Kienow Drive Randolph, WI 53956 Full Service B&M $37,340
    Horicon Bank 226 Schuyler Street Neosho, WI 53059 Full Service B&M $29,920
    Horicon Bank 326 East Lake Street Horicon, WI 53032 Full Service B&M $146,397
    Horicon Bank 400 Watson Street Ripon, WI 54971 Full Service B&M $101,689
    Horicon Bank 515 Hill Street Green Lake, WI 54941 Full Service B&M $67,652
    Horicon Bank 609 North Spring Street Beaver Dam, WI 53916 Full Service Retail $8,915
    Horicon Bank 807 West Main Street Waupun, WI 53963 Full Service B&M $32,916
    Horicon Bank 810 Park Avenue Beaver Dam, WI 53916 Full Service Retail $9,855
    Horicon Bank 825 North Margaret Street Markesan, WI 53946 Full Service B&M $27
    Horicon Bank 84 N. Bridge Street Markesan, WI 53946 Full Service B&M $49,236
    Horicon Bank 854 East Johnson Street Fond Du Lac, WI 54935 Full Service B&M $79,184

    For 2021, Horicon Bank had 19 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $39,447
    Net interest income $36,945
    Total noninterest income $9,280
    Gross Fiduciary activities income $305
    Service charges on deposit accounts $839
    Trading account gains and fees $0
    Additional Noninterest Income $8,136
    Pre-tax net operating income $16,695
    Securities gains (or losses, -) $27
    Income before extraordinary items $15,118
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $15,118
    Minority interest net income $0
    Net income $15,118
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $15,093

    Horicon Bank's gross interest income from loans was $39,447,000.
    Horicon Bank's net interest income from loans was $36,945,000.
    Horicon Bank's fee based income from loans was $839,000.
    Horicon Bank's net income from loans was $15,118,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,502
    Provision for credit losses $-953
    Total noninterest expense $30,483
    Salaries and employee benefits $18,410
    Premises and equipment expense $2,972
    Additional noninterest expense $9,101
    Applicable income taxes $1,604
    Net charge-offs $-316
    Cash dividends $6,632

    Horicon Bank's interest expense for loans was $2,502,000.
    Horicon Bank's payroll and benefits expense were $18,410,000.
    Horicon Bank's property, plant and equipment expenses $2,972,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 0.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,100,540
    Deposits held in domestic offices $1,100,540
    Deposits by Individuals, partnerships, and corporations $1,063,988
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $36,552
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $465,519
    Demand deposits $328,823
    Nontransaction accounts $635,021
    Money market deposit accounts (MMDAs) $383,703
    Other savings deposits (excluding MMDAs) $144,805
    Total time deposits $106,513
    Total time and savings deposits $771,717
    Noninterest-bearing deposits $328,823
    Interest-bearing deposits $771,717
    Retail deposits $1,080,792
    IRAs and Keogh plan accounts $24,565
    Brokered deposits $2,525
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,230,747
    Cash & Balances due from depository institutions $319,193
    Interest-bearing balances $288,719
    Total securities $48,190
    Federal funds sold & reverse repurchase $428
    Net loans and leases $832,185
    Loan and leases loss allowance $9,797
    Trading account assets $0
    Bank premises and fixed assets $17,732
    Other real estate owned $0
    Goodwill and other intangibles $3,444
    All other assets $9,575

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,230,747
    Total Liabilities $1,120,665
    Total deposits $1,100,540
    Interest-bearing deposits $771,717
    Deposits held in domestic offices $1,100,540
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $11,398
    Subordinated debt $0
    All other liabilities $8,727

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $832,185
    Loan and leases loss allowance $9,797
    Total loans and leases (domestic) $841,982
    All real estate loans $654,598
    Real estate loans in domestic offices $654,598
    Construction and development loans $66,355
    Residential 1-4 family construction $14,031
    Other construction, all land development and other land $52,324
    Loans secured by nonfarm nonresidential properties $260,608
    Nonfarm nonresidential secured by owner-occupied properties $149,657
    Commercial real estate & other non-farm, non-residential $110,951
    Multifamily residential real estate $27,761
    1-4 family residential loans $171,885
    Farmland loans $127,989
    Loans held in foreign offices $0
    Farm loans $36,185
    Commercial and industrial loans $136,361
    To non-U.S. addressees $0
    Loans to individuals $5,459
    Credit card loans $526
    Related Plans $9
    Consumer Auto Loans $2,329
    Other loans to individuals $2,595
    All other loans & leases $9,379
    Loans to foreign governments and official institutions $0
    Other loans $7,488
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $8,282
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $6,348
    Non 1-4 family restructured loans & leases $5,209
    Total loans and leases (foreign) $0

    Horicon Bank had $832,185,000 of loans outstanding in 2021. $654,598,000 of loans were in real estate loans. $66,355,000 of loans were in development loans. $27,761,000 of loans were in multifamily mortgage loans. $171,885,000 of loans were in 1-4 family mortgage loans. $36,185,000 of loans were in farm loans. $526,000 of loans were in credit card loans. $2,329,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 529 $110,702 $209,267
    Nonfarm, nonresidential loans - <$100k 168 $7,011 $41,732
    Nonfarm, nonresidential loans - $100-250k 161 $21,088 $130,981
    Nonfarm, nonresidential loans - $250k-1MM 200 $82,603 $413,015
    Commercial & Industrial, US addressed loans - <$1MM 1,072 $56,564 $52,765
    Commercial & Industrial, US addressed loans - <$100k 805 $13,438 $16,693
    Commercial & Industrial, US addressed loans - $100-250k 145 $12,007 $82,807
    Commercial & Industrial, US addressed loans - $250k-1MM 122 $31,119 $255,074
    Farmland loans - <$1MM 223 $32,959 $147,798
    Farmland loans - <$100k 75 $2,977 $39,693
    Farmland loans - $100-250k 93 $12,954 $139,290
    Farmland loans - $250k-1MM 55 $17,028 $309,600
    Agriculture operations loans - <$1MM 306 $18,496 $60,444
    Agriculture operations loans - <$100k 217 $4,060 $18,710
    Agriculture operations loans - $100-250k 55 $6,269 $113,982
    Agriculture operations loans - $250k-1MM 34 $8,167 $240,206