The Bank Of New Glarus Mortgage Rates, Fees & Info

New Glarus, WI

LEI: 549300HZMPZC336WP721

Tax ID: 39-0147950

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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, Chicago, Milwaukee, and Whitewater among others. We have data for 23 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 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 6.86% 4/28/24
    30 Year Conventional Refi 6.51% 4/28/24
    30 Year Cash-out Refi 6.81% 4/28/24
    30 Year VA Purchase 6.32% 4/28/24
    15 Year Conventional Purchase 5.80% 4/28/24
    15 Year Conventional Refi 5.74% 4/28/24
    15 Year Cash-out Refi 5.74% 4/28/24
    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

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

    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

    354

    Origination Dollar Volume (All Markets)

    $90,480,000

    Awards

    The Bank of New Glarus 30 Year Conventional Loans gold The Bank of New Glarus 30 Year Conventional Loans silver The Bank of New Glarus 30 Year Conventional Loans gold The Bank of New Glarus 30 Year Conventional Loans gold
    Show all (4) 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
    MADISON, WI (FHA|USDA|VA) 257 $68,735,000 $267,451 $1,821 5.11%
    Outside of Metro Areas 36 $7,170,000 $199,167 $2,013 5.07%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 27 $5,015,000 $185,741 $1,998 5.57%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $960,000 $480,000 $1,553 4.00%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 3 $925,000 $308,333 $2,110 4.34%
    Whitewater, WI (FHA|USDA|VA) 2 $850,000 $425,000 $2,971 5.87%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $805,000 $805,000 $0 4.19%
    ROCKFORD, IL (FHA|USDA|VA) 4 $790,000 $197,500 $1,723 4.38%
    Freeport, IL (FHA|USDA|VA) 7 $675,000 $96,429 $2,143 5.19%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $635,000 $635,000 $3,609 6.00%
    Platteville, WI (FHA|USDA|VA) 2 $600,000 $300,000 $1,598 6.37%
    AMES, IA (FHA|USDA|VA) 1 $505,000 $505,000 $0 5.75%
    Peru, IN (FHA|USDA|VA) 1 $455,000 $455,000 $1,876 5.00%
    Marinette, WI-MI (FHA|USDA|VA) 1 $355,000 $355,000 $2,678 5.25%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $325,000 $325,000 $3,021 5.38%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $315,000 $315,000 $5,721 5.63%
    GREEN BAY, WI (FHA|USDA|VA) 1 $285,000 $285,000 $2,109 6.00%
    Aberdeen, WA (FHA|USDA|VA) 1 $285,000 $285,000 $8,037 5.88%
    Owatonna, MN (FHA|USDA|VA) 1 $235,000 $235,000 $2,297 6.50%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $175,000 $175,000 $2,358 5.00%
    Beaver Dam, WI (FHA|USDA|VA) 1 $155,000 $155,000 $2,387 6.38%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $115,000 $115,000 $0 4.45%
    Albert Lea, MN (FHA|USDA|VA) 1 $115,000 $115,000 $2,392 5.00%
    The Bank Of New Glarus's top markets include Madison, Janesville, Chicago, Milwaukee, and Whitewater among others.

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

    • 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.

    EDUCATORS CREDIT UNION
    Similarity Rank: 50
    Landmark Credit Union
    Similarity Rank: 156
    Blackhawk Community Credit Union
    Similarity Rank: 255
    First Community Credit Union
    Similarity Rank: 260
    Hometown Bank
    Similarity Rank: 323
    Farmers & Merchants State Bank
    Similarity Rank: 338
    Bank of Deerfield
    Similarity Rank: 403
    Starion Bank
    Similarity Rank: 418
    The Park Bank
    Similarity Rank: 484
    State Bank of Cross Plains
    Similarity Rank: 504

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 353 $90,155,000 $255,397 $1,891 5.15%
    VA 1 $325,000 $325,000 $10,236 3.00%

    For 2022, The Bank Of New Glarus's most frequently originated type of loan was Conventional, with 353 originations. Their 2nd most popular type was VA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 215 $64,555,000 $300,256 $2,428 5.19%
    Cash Out Refi 59 $12,025,000 $203,814 $1,311 4.81%
    Refi 49 $10,355,000 $211,327 $1,108 4.69%
    Home Improvement 21 $2,335,000 $111,190 $756 6.32%
    Other 10 $1,210,000 $121,000 $1,131 5.78%

    For 2022, The Bank Of New Glarus's most frequently cited loan purpose was Home Purchase, with 215 originations. The 2nd most popular reason was Cash Out Refi, with 59 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 223 $59,255,000 $265,717 $2,167 5.00%
    Other 40 $7,120,000 $178,000 $1,051 6.27%
    15 Year 28 $5,680,000 $202,857 $1,321 3.82%
    3 Year 23 $10,275,000 $446,739 $0 5.39%
    5 Year 15 $3,065,000 $204,333 $355 5.80%
    20 Year 10 $2,510,000 $251,000 $1,698 4.60%
    1 Year 8 $1,850,000 $231,250 $2,084 5.40%
    10 Year 7 $725,000 $103,571 $561 6.88%

    For 2022, The Bank Of New Glarus's most frequently cited loan duration was 30 Year, with 223 originations. The 2nd most popular length was Other, with 40 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 275 $64,575,000 $234,818
    $1k-2k 11 $2,555,000 $232,273
    $2k-3k 5 $1,395,000 $279,000
    $3k-4k 4 $1,700,000 $425,000
    $5k+ 2 $800,000 $400,000

    The Bank Of New Glarus's average total fees were $2,167, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 275 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 118 $32,830,000 $278,220
    3-4% 73 $19,195,000 $262,945
    4-5% 67 $19,415,000 $289,776
    6-7% 64 $13,280,000 $207,500
    2.5-3% 12 $4,000,000 $333,333
    7-8% 8 $630,000 $78,750
    Over 8% 6 $420,000 $70,000
    <2.5% 6 $710,000 $118,333

    During 2022, The Bank Of New Glarus's average interest rate for loans was 5.00%, while their most frequently originated rate bucket for loans was 5-6%, with 118 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 125 $18,435,000 $147,480 $1,791 5.07%
    $200k-400k 120 $34,680,000 $289,000 $2,346 4.99%
    $100,000 or less 56 $3,180,000 $56,786 $1,086 5.98%
    $400k-600k 38 $18,420,000 $484,737 $1,984 4.78%
    $600k-1MM 10 $6,710,000 $671,000 $2,103 4.54%
    $1MM+ 5 $9,055,000 $1,811,000 $3,616 5.32%

    2022 saw The Bank Of New Glarus place emphasis on $100k-200k loans with 125 originations, totaling $18,435,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 84 $21,260,000 $253,095 $1,943 4.90%
    $50k-75k 62 $10,430,000 $168,226 $1,755 5.33%
    $150k-250k 57 $18,595,000 $326,228 $2,103 4.93%
    $75k-100k 50 $10,160,000 $203,200 $1,912 5.22%
    $50k or less 41 $5,325,000 $129,878 $1,692 5.37%
    $250k+ 25 $9,785,000 $391,400 $2,242 5.08%

    The Bank Of New Glarus lent most frequently to those with incomes in the $100k-150k range, with 84 originations. The second most popular income band? $50k-75k, with 62 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 74 $17,260,000 $233,243 $1,740 4.84%
    30-36% 63 $16,065,000 $255,000 $1,963 4.97%
    <20% 36 $8,740,000 $242,778 $1,921 4.34%
    38% 12 $2,490,000 $207,500 $2,113 5.55%
    44% 12 $3,460,000 $288,333 $2,779 4.88%
    42% 11 $2,935,000 $266,818 $1,783 5.36%
    36% 10 $2,030,000 $203,000 $2,054 5.42%
    40% 9 $2,135,000 $237,222 $3,161 4.36%
    41% 9 $2,155,000 $239,444 $2,013 5.55%
    37% 9 $1,515,000 $168,333 $1,796 6.07%
    39% 9 $1,285,000 $142,778 $1,513 5.46%
    50-60% 9 $2,635,000 $292,778 $984 6.05%
    >60% 9 $2,445,000 $271,667 $1,430 5.66%
    46% 6 $1,040,000 $173,333 $1,700 6.35%
    43% 6 $1,980,000 $330,000 $2,074 5.76%
    45% 6 $1,610,000 $268,333 $2,328 5.50%
    47% 5 $1,445,000 $289,000 $1,915 6.10%
    48% 4 $1,080,000 $270,000 $2,009 4.81%
    49% 3 $775,000 $258,333 $2,239 4.75%

    The Bank Of New Glarus lent most frequently to those with DTI ratios of 20-30%, with 74 originations. The next most common DTI ratio? 30-36%, with 63 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 318 $73,510,000 $231,164 $1,917 5.12%
    Not applicable 32 $14,560,000 $455,000 $0 5.46%
    Black 2 $1,470,000 $735,000 $2,034 3.81%
    Not provided 1 $525,000 $525,000 $1,276 5.88%
    Asian 1 $415,000 $415,000 $2,801 3.13%

    Approval Rates

    Total approvals of all applications
    96.53%

    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 origination
    90.96%

    The Bank Of New Glarus has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 354 $90,480,000 $255,593

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    354 $90,480,000 $255,593

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $5,330,000 $166,563 $1,176 5.18%
    40-60% 45 $11,095,000 $246,556 $1,527 4.88%
    60-80% 116 $33,450,000 $288,362 $1,958 4.77%
    80-100% 130 $37,300,000 $286,923 $2,389 5.32%
    Over 100% 6 $1,910,000 $318,333 $2,362 5.21%
    Under 20% 24 $1,370,000 $57,083 $576 6.37%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    TD BANK US HOLDING COMPANY Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    TD BANK US HOLDING COMPANY Conventional home mortgage Closing on a mortgage 1 50.0%