The Bank Of New Glarus Mortgage Rates, Fees & Info
New Glarus, WILEI: 549300HZMPZC336WP721
Tax ID: 39-0147950
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Mortgage Data
Review & Overview
The Bank Of New Glarus is a smaller bank specializing in Home Purchase loans. The Bank Of New Glarus has a high proportion of conventional loans. Their top markets by origination volume include: Madison, Janesville, Platteville, Freeport, and Whitewater among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)The Bank Of New Glarus 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. The Bank Of New Glarus 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.86% | 11/17/24 |
| 30 Year Conventional Refi | 6.51% | 11/17/24 |
| 30 Year Cash-out Refi | 6.81% | 11/17/24 |
| 30 Year VA Purchase | 6.32% | 11/17/24 |
| 15 Year Conventional Purchase | 5.80% | 11/17/24 |
| 15 Year Conventional Refi | 5.74% | 11/17/24 |
| 15 Year Cash-out Refi | 5.74% | 11/17/24 |
| 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. | ||
The Bank Of New Glarus Mortgage Calculator
Your Estimates
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This is not an official calculator from The Bank Of New Glarus. 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
328Origination Dollar Volume (All Markets)
$92,410,000Awards
The Bank of New Glarus - 2023
The Bank of New Glarus is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
The Bank Of New Glarus's average 30 year fixed mortgage rate was
6.78%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.3%.
Relative Fees (Closing Costs)
The Bank Of New Glarus's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,239.
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 |
|---|---|---|---|---|---|
| MADISON, WI (FHA|USDA|VA) | 223 | $66,115,000 | $296,480 | $1,912 | 7.03% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 40 | $9,420,000 | $235,500 | $2,037 | 7.16% |
| Outside of Metro Areas | 27 | $6,295,000 | $233,148 | $2,257 | 7.22% |
| Platteville, WI (FHA|USDA|VA) | 3 | $1,485,000 | $495,000 | $2,212 | 7.27% |
| Freeport, IL (FHA|USDA|VA) | 9 | $1,445,000 | $160,556 | $2,155 | 6.50% |
| Whitewater, WI (FHA|USDA|VA) | 3 | $1,145,000 | $381,667 | $2,708 | 6.67% |
| Baraboo, WI (FHA|USDA|VA) | 2 | $970,000 | $485,000 | $3,037 | 5.62% |
| ROCKFORD, IL (FHA|USDA|VA) | 4 | $790,000 | $197,500 | $1,772 | 6.84% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $2,912 | 7.63% |
| GREEN BAY, WI (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $2,416 | 6.88% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $2,536 | 7.19% |
| Beaver Dam, WI (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $3,067 | 6.38% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $0 | 6.29% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,611 | 7.00% |
| DUBUQUE, IA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 7.25% |
| Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $1,246 | 8.44% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,933 | 6.50% |
| SHEBOYGAN, WI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,488 | 5.49% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,739 | 6.63% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,430 | 7.29% |
Similar Lenders
We use machine learning to identify the top lenders compared against The Bank of New Glarus based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 50
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 327 | $92,035,000 | $281,453 | $2,003 | 7.03% |
| VA | 1 | $375,000 | $375,000 | $2,926 | 7.25% |
For 2023, The Bank Of New Glarus's most frequently originated type of loan was Conventional, with 327 originations. Their 2nd most popular type was VA, with 1 originations.
Loan Reason
For 2023, The Bank Of New Glarus's most frequently cited loan purpose was Home Purchase, with 234 originations. The 2nd most popular reason was Refi, with 50 originations.
Loan Duration/Length
For 2023, The Bank Of New Glarus's most frequently cited loan duration was 30 Year, with 216 originations. The 2nd most popular length was Other, with 33 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 240 | $57,900,000 | $241,250 |
| $1k-2k | 9 | $2,635,000 | $292,778 |
| $2k-3k | 1 | $685,000 | $685,000 |
| $3k-4k | 1 | $335,000 | $335,000 |
The Bank Of New Glarus's average total fees were $2,239, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 240 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 144 | $39,990,000 | $277,708 |
| 7-8% | 99 | $31,355,000 | $316,717 |
| 5-6% | 50 | $16,740,000 | $334,800 |
| Over 8% | 34 | $3,720,000 | $109,412 |
| 4-5% | 1 | $605,000 | $605,000 |
During 2023, The Bank Of New Glarus's average interest rate for loans was 6.78%, while their most frequently originated rate bucket for loans was 6-7%, with 144 originations.
Loan Sizing
2023 saw The Bank Of New Glarus place emphasis on $200k-400k loans with 114 originations, totaling $31,250,000 in origination value.
Applicant Income
The Bank Of New Glarus lent most frequently to those with incomes in the $100k-150k range, with 74 originations. The second most popular income band? $150k-250k, with 53 originations.
Applicant Debt to Income Ratio
The Bank Of New Glarus lent most frequently to those with DTI ratios of 20-30%, with 63 originations. The next most common DTI ratio? 30-36%, with 60 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.59%
The Bank Of New Glarus has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination94.21%
The Bank Of New Glarus has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 328 | $92,410,000 | $281,738 |