Choice Bank Mortgage Rates, Fees & Info
Oshkosh, WILEI: 549300J8FF3JUS00NE75
Tax ID: 36-4588704
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Mortgage Data
Review & Overview
Choice Bank is a smaller bank specializing in Home Purchase and Refi loans. Choice Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Oshkosh, Appleton, Green Bay, Milwaukee, and Wausau among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Choice 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.
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Originations
345Origination Dollar Volume (All Markets)
$57,235,000Top 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 |
|---|---|---|---|---|---|
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 178 | $27,840,000 | $156,404 | $0 | 0.00% |
| APPLETON, WI (FHA|USDA|VA) | 60 | $10,890,000 | $181,500 | $0 | 0.00% |
| GREEN BAY, WI (FHA|USDA|VA) | 56 | $9,410,000 | $168,036 | $0 | 0.00% |
| Outside of Metro Areas | 19 | $3,885,000 | $204,474 | $0 | 0.00% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 6 | $1,640,000 | $273,333 | $0 | 0.00% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 8 | $750,000 | $93,750 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $0 | 0.00% |
| Shawano, WI (FHA|USDA|VA) | 4 | $490,000 | $122,500 | $0 | 0.00% |
| Manitowoc, WI (FHA|USDA|VA) | 4 | $370,000 | $92,500 | $0 | 0.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| FOND DU LAC, WI (FHA|USDA|VA) | 4 | $310,000 | $77,500 | $0 | 0.00% |
| RACINE, WI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| Stevens Point, WI (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 0.00% |
| Marinette, WI-MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 344 | $57,140,000 | $166,105 | $0 | 0.00% |
| USDA | 1 | $95,000 | $95,000 | $0 | 0.00% |
For 2019, Choice Bank's most frequently originated type of loan was Conventional, with 344 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2019, Choice Bank's most frequently cited loan purpose was Home Purchase, with 237 originations. The 2nd most popular reason was Refi, with 58 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 345 | $57,235,000 | $165,899 | $0 | 0.00% |
For 2019, Choice Bank's most frequently cited loan duration was Other, with 345 originations.
Loan Sizing
2019 saw Choice Bank place emphasis on $100k-200k loans with 141 originations, totaling $19,575,000 in origination value.
Applicant Income
Choice Bank lent most frequently to those with incomes in the $100k-150k range, with 45 originations. The second most popular income band? $50k-75k, with 30 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 345 | $57,235,000 | $165,899 | $0 | 0.00% |
Choice Bank lent most frequently to those with DTI ratios of Exempt%, with 345 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.54%
Choice 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 origination94.78%
Choice Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 345 | $57,235,000 | $165,899 |