Horicon Bank Mortgage Rates, Fees & Info

Horicon, WI

LEI: 549300GIXEN5875K5W17

Tax ID: 39-0356800

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Mortgage Data

Review & Overview

Horicon Bank is a smaller bank specializing in 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, Janesville, and Oshkosh among others. We have data for 14 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.40% 10/31/24
30 Year Conventional Refi 6.44% 10/31/24
30 Year Cash-out Refi 6.47% 10/31/24
30 Year USDA Purchase 7.04% 10/31/24
15 Year Conventional Purchase 6.05% 10/31/24
15 Year Conventional Refi 6.06% 10/31/24
15 Year Cash-out Refi 6.06% 10/31/24
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

469

Origination Dollar Volume (All Markets)

$93,095,000
Show all (6) awards

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) 159 $23,575,000 $148,270 $1,042 4.74%
FOND DU LAC, WI (FHA|USDA|VA) 119 $18,005,000 $151,303 $1,169 4.68%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 72 $16,910,000 $234,861 $1,340 4.80%
Outside of Metro Areas 58 $11,510,000 $198,448 $1,406 4.56%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 2 $9,530,000 $4,765,000 $2,240 5.94%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 22 $4,740,000 $215,455 $1,521 5.04%
APPLETON, WI (FHA|USDA|VA) 12 $4,050,000 $337,500 $1,260 4.66%
MADISON, WI (FHA|USDA|VA) 13 $2,105,000 $161,923 $1,256 4.57%
GREEN BAY, WI (FHA|USDA|VA) 3 $825,000 $275,000 $475 4.25%
SHEBOYGAN, WI (FHA|USDA|VA) 3 $795,000 $265,000 $2,728 4.38%
Marinette, WI-MI (FHA|USDA|VA) 1 $475,000 $475,000 $0 5.25%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $245,000 $245,000 $1,969 5.75%
Manitowoc, WI (FHA|USDA|VA) 2 $200,000 $100,000 $1,358 3.95%
WAUSAU-WESTON, WI (FHA|USDA|VA) 2 $130,000 $65,000 $1,858 4.64%
Horicon Bank's top markets include Beaver Dam, Fond Du Lac, Milwaukee, Janesville, and Oshkosh among others.

Their top states include:
  • Wisconsin (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.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 466 $92,600,000 $198,712 $1,201 4.72%
    USDA 3 $495,000 $165,000 $3,645 4.00%

    For 2022, Horicon Bank's most frequently originated type of loan was Conventional, with 466 originations. Their 2nd most popular type was USDA, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 254 $65,230,000 $256,811 $1,602 4.83%
    Cash Out Refi 86 $12,620,000 $146,744 $972 4.22%
    Refi 54 $8,800,000 $162,963 $986 4.23%
    Home Improvement 45 $3,655,000 $81,222 $459 5.23%
    Other 30 $2,790,000 $93,000 $591 5.33%

    For 2022, Horicon Bank's most frequently cited loan purpose was Home Purchase, with 254 originations. The 2nd most popular reason was Cash Out Refi, with 86 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 217 $52,695,000 $242,834 $1,563 4.71%
    10 Year 90 $4,730,000 $52,556 $423 5.19%
    15 Year 74 $11,730,000 $158,514 $1,278 3.82%
    5 Year 49 $18,125,000 $369,898 $326 5.05%
    20 Year 21 $3,065,000 $145,952 $1,232 4.78%
    3 Year 9 $1,445,000 $160,556 $0 5.17%
    Other 5 $475,000 $95,000 $1,604 5.20%
    1 Year 4 $830,000 $207,500 $0 4.94%

    For 2022, Horicon Bank's most frequently cited loan duration was 30 Year, with 217 originations. The 2nd most popular length was 10 Year, with 90 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 397 $69,915,000 $176,108
    $1k-2k 3 $625,000 $208,333
    $3k-4k 3 $835,000 $278,333
    $2k-3k 1 $165,000 $165,000

    Horicon Bank's average total fees were $1,563, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 397 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 141 $24,925,000 $176,773
    5-6% 136 $32,880,000 $241,765
    3-4% 114 $26,040,000 $228,421
    6-7% 46 $5,420,000 $117,826
    2.5-3% 18 $2,310,000 $128,333
    <2.5% 10 $1,440,000 $144,000
    7-8% 3 $65,000 $21,667
    Over 8% 1 $15,000 $15,000

    During 2022, Horicon Bank's average interest rate for loans was 4.71%, while their most frequently originated rate bucket for loans was 4-5%, with 141 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 158 $8,380,000 $53,038 $622 5.01%
    $100k-200k 153 $22,165,000 $144,869 $1,493 4.57%
    $200k-400k 129 $35,495,000 $275,155 $1,581 4.59%
    $400k-600k 18 $8,300,000 $461,111 $1,306 4.41%
    $600k-1MM 7 $5,305,000 $757,857 $1,606 4.80%
    $1MM+ 4 $13,450,000 $3,362,500 $2,544 4.02%

    2022 saw Horicon Bank place emphasis on $100,000 or less loans with 158 originations, totaling $8,380,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 107 $14,085,000 $131,636 $1,231 4.45%
    $100k-150k 99 $17,775,000 $179,545 $1,164 4.96%
    $75k-100k 78 $11,730,000 $150,385 $1,271 4.70%
    $150k-250k 64 $15,540,000 $242,813 $1,316 4.84%
    $50k or less 52 $5,640,000 $108,462 $1,154 4.42%
    $250k+ 25 $9,695,000 $387,800 $1,178 4.62%

    Horicon Bank lent most frequently to those with incomes in the $50k-75k range, with 107 originations. The second most popular income band? $100k-150k, with 99 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 120 $21,330,000 $177,750 $1,230 4.46%
    30-36% 90 $16,460,000 $182,889 $1,235 4.78%
    <20% 56 $8,230,000 $146,964 $1,151 4.49%
    37% 23 $3,995,000 $173,696 $1,137 4.90%
    42% 13 $1,495,000 $115,000 $738 5.59%
    38% 12 $2,380,000 $198,333 $1,698 4.79%
    39% 12 $3,020,000 $251,667 $1,539 4.89%
    43% 12 $2,440,000 $203,333 $1,322 4.60%
    44% 11 $1,615,000 $146,818 $971 5.34%
    41% 11 $2,385,000 $216,818 $1,363 5.01%
    40% 10 $1,550,000 $155,000 $1,475 4.80%
    45% 8 $1,930,000 $241,250 $1,167 4.13%
    36% 8 $1,310,000 $163,750 $1,054 4.45%
    46% 7 $1,675,000 $239,286 $1,550 4.25%
    48% 4 $490,000 $122,500 $562 5.13%
    50-60% 4 $640,000 $160,000 $1,297 4.22%
    >60% 4 $580,000 $145,000 $740 4.84%
    49% 3 $675,000 $225,000 $1,171 4.92%
    47% 2 $350,000 $175,000 $1,337 4.19%

    Horicon Bank lent most frequently to those with DTI ratios of 20-30%, with 120 originations. The next most common DTI ratio? 30-36%, with 90 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 407 $69,295,000 $170,258 $1,206 4.69%
    Not applicable 39 $17,725,000 $454,487 $0 5.18%
    Not provided 16 $5,340,000 $333,750 $1,648 4.17%
    American Indian 2 $350,000 $175,000 $1,998 4.50%
    Asian 3 $315,000 $105,000 $914 5.03%
    Black 2 $70,000 $35,000 $339 5.13%

    Approval Rates

    Total approvals of all applications
    96.60%

    Horicon 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
    91.04%

    Horicon Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 469 $93,095,000 $198,497

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    469 $93,095,000 $198,497

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 53 $5,225,000 $98,585 $782 4.63%
    40-60% 68 $12,310,000 $181,029 $1,203 4.12%
    60-80% 170 $47,890,000 $281,706 $1,478 4.51%
    80-100% 100 $24,180,000 $241,800 $1,773 4.84%
    Over 100% 3 $435,000 $145,000 $4,565 4.45%
    Under 20% 75 $3,055,000 $40,733 $402 5.62%