The Equitable Bank S.s.b. Mortgage Rates, Fees & Info

Wauwatosa, WI

LEI: 549300N24HTC7KQ3LC70

Tax ID: 39-0265500

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
  • 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 Equitable Bank S.s.b. is a smaller bank specializing in Home Purchase and Refi loans. The Equitable Bank S.s.b. has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Milwaukee, Sheboygan, Racine, Whitewater, and Watertown among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Equitable Bank S.s.b. has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. The Equitable Bank S.s.b. 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.64% 4/21/24
    30 Year Conventional Refi 6.43% 4/21/24
    30 Year Cash-out Refi 6.57% 4/21/24
    30 Year FHA Purchase 6.95% 4/21/24
    30 Year FHA Refi 6.84% 4/21/24
    30 Year VA Purchase 5.79% 4/21/24
    15 Year Conventional Purchase 5.72% 4/21/24
    15 Year Conventional Refi 5.75% 4/21/24
    15 Year Cash-out Refi 5.75% 4/21/24
    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 Equitable Bank S.s.b. Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from The Equitable Bank S.s.b.. 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

    398

    Origination Dollar Volume (All Markets)

    $140,450,000
    Show all (8) 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
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 343 $107,265,000 $312,726 $2,842 4.37%
    SHEBOYGAN, WI (FHA|USDA|VA) 4 $15,670,000 $3,917,500 $2,814 4.34%
    RACINE, WI (FHA|USDA|VA) 26 $9,840,000 $378,462 $2,385 4.50%
    Whitewater, WI (FHA|USDA|VA) 10 $2,820,000 $282,000 $3,165 4.38%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 4 $1,820,000 $455,000 $2,351 4.09%
    FOND DU LAC, WI (FHA|USDA|VA) 2 $940,000 $470,000 $2,476 4.06%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $665,000 $221,667 $2,453 3.42%
    Beaver Dam, WI (FHA|USDA|VA) 1 $515,000 $515,000 $2,805 4.38%
    Outside of Metro Areas 2 $400,000 $200,000 $2,782 3.75%
    Baraboo, WI (FHA|USDA|VA) 1 $205,000 $205,000 $2,413 3.00%
    GREEN BAY, WI (FHA|USDA|VA) 1 $175,000 $175,000 $2,495 5.25%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $135,000 $135,000 $2,132 2.88%
    The Equitable Bank S.s.b.'s top markets include Milwaukee, Sheboygan, Racine, Whitewater, and Watertown among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against The Equitable Bank S.S.B. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    First Savings Bank of Hegewisch
    Similarity Rank: 64
    NORTHWESTERN MUTUAL
    Similarity Rank: 70
    Empower Credit Union
    Similarity Rank: 81
    Liberty Bank for Savings
    Similarity Rank: 116
    FINANCIAL PLUS
    Similarity Rank: 198
    Glacier Hills Credit Union
    Similarity Rank: 200
    Badger Bank
    Similarity Rank: 308
    Bank of Sun Prairie
    Similarity Rank: 390
    Bank of Deerfield
    Similarity Rank: 403
    State Bank of Cross Plains
    Similarity Rank: 414

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 365 $133,845,000 $366,699 $2,447 4.33%
    FHA 29 $5,555,000 $191,552 $6,284 4.78%
    VA 4 $1,050,000 $262,500 $5,379 4.34%

    For 2022, The Equitable Bank S.s.b.'s most frequently originated type of loan was Conventional, with 365 originations. Their 2nd most popular type was FHA, with 29 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 303 $92,085,000 $303,911 $3,164 4.51%
    Refi 40 $37,450,000 $936,250 $1,933 3.61%
    Cash Out Refi 34 $9,170,000 $269,706 $1,977 3.89%
    Home Improvement 16 $1,300,000 $81,250 $322 4.35%
    Other 5 $445,000 $89,000 $608 4.70%

    For 2022, The Equitable Bank S.s.b.'s most frequently cited loan purpose was Home Purchase, with 303 originations. The 2nd most popular reason was Refi, with 40 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 309 $87,785,000 $284,094 $3,026 4.44%
    5 Year 25 $32,575,000 $1,303,000 $135 4.66%
    10 Year 18 $3,750,000 $208,333 $301 4.39%
    15 Year 16 $4,040,000 $252,500 $2,221 3.61%
    30+ year 13 $8,275,000 $636,538 $2,468 3.72%
    20 Year 10 $2,060,000 $206,000 $1,756 3.53%
    Other 6 $1,920,000 $320,000 $0 4.11%
    3 Year 1 $45,000 $45,000 $135 3.50%

    For 2022, The Equitable Bank S.s.b.'s most frequently cited loan duration was 30 Year, with 309 originations. The 2nd most popular length was 5 Year, with 25 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 279 $84,125,000 $301,523
    $1k-2k 59 $13,665,000 $231,610
    $2k-3k 2 $570,000 $285,000
    $4k-5k 1 $365,000 $365,000
    $5k+ 1 $525,000 $525,000

    The Equitable Bank S.s.b.'s average total fees were $3,026, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 279 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 133 $65,415,000 $491,842
    4-5% 128 $37,750,000 $294,922
    5-6% 81 $22,245,000 $274,630
    2.5-3% 33 $10,425,000 $315,909
    6-7% 18 $3,480,000 $193,333
    <2.5% 4 $830,000 $207,500
    7-8% 1 $305,000 $305,000

    During 2022, The Equitable Bank S.s.b.'s average interest rate for loans was 4.44%, while their most frequently originated rate bucket for loans was 3-4%, with 133 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 167 $47,685,000 $285,539 $2,949 4.40%
    $100k-200k 113 $17,205,000 $152,257 $2,934 4.44%
    $400k-600k 58 $27,670,000 $477,069 $3,015 4.43%
    $100,000 or less 30 $1,780,000 $59,333 $1,010 4.36%
    $600k-1MM 19 $13,325,000 $701,316 $2,687 3.76%
    $1MM+ 11 $32,785,000 $2,980,455 $4,044 3.78%

    2022 saw The Equitable Bank S.s.b. place emphasis on $200k-400k loans with 167 originations, totaling $47,685,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 94 $28,380,000 $301,915 $2,593 4.45%
    $50k-75k 75 $13,605,000 $181,400 $2,678 4.37%
    $150k-250k 67 $24,895,000 $371,567 $2,702 4.21%
    $75k-100k 53 $13,895,000 $262,170 $3,256 4.28%
    $50k or less 40 $5,370,000 $134,250 $3,238 4.57%
    $250k+ 32 $15,130,000 $472,813 $2,653 4.11%

    The Equitable Bank S.s.b. lent most frequently to those with incomes in the $100k-150k range, with 94 originations. The second most popular income band? $50k-75k, with 75 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 92 $26,380,000 $286,739 $2,479 4.20%
    30-36% 61 $18,905,000 $309,918 $2,850 4.27%
    <20% 34 $8,680,000 $255,294 $2,176 4.04%
    39% 26 $9,230,000 $355,000 $3,072 4.64%
    36% 19 $4,695,000 $247,105 $3,256 3.99%
    42% 17 $4,315,000 $253,824 $3,182 4.70%
    41% 17 $4,955,000 $291,471 $3,422 4.88%
    40% 13 $3,535,000 $271,923 $2,903 4.79%
    38% 13 $3,145,000 $241,923 $2,706 4.43%
    44% 12 $2,440,000 $203,333 $2,454 4.26%
    50-60% 11 $3,065,000 $278,636 $4,074 4.89%
    49% 9 $2,155,000 $239,444 $2,521 4.64%
    37% 8 $1,530,000 $191,250 $2,345 3.98%
    48% 8 $2,490,000 $311,250 $4,464 4.63%
    43% 8 $1,740,000 $217,500 $2,763 4.05%
    45% 6 $2,720,000 $453,333 $2,639 4.73%
    46% 6 $1,800,000 $300,000 $2,820 4.40%
    47% 5 $1,015,000 $203,000 $2,554 4.28%
    >60% 1 $255,000 $255,000 $2,609 3.50%

    The Equitable Bank S.s.b. lent most frequently to those with DTI ratios of 20-30%, with 92 originations. The next most common DTI ratio? 30-36%, with 61 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 253 $75,775,000 $299,506 $2,593 4.35%
    Not applicable 29 $37,015,000 $1,276,379 $0 4.50%
    Not provided 49 $13,085,000 $267,041 $2,772 4.22%
    Black 40 $6,740,000 $168,500 $4,003 4.63%
    Asian Indian 8 $3,280,000 $410,000 $2,338 3.53%
    Asian 12 $2,500,000 $208,333 $2,622 4.70%
    American Indian 3 $1,065,000 $355,000 $6,161 3.92%
    Chinese 1 $495,000 $495,000 $3,077 4.63%
    Other Pacific Islander 1 $205,000 $205,000 $2,499 3.75%
    Other Asian 1 $145,000 $145,000 $5,516 3.63%
    Vietnamese 1 $145,000 $145,000 $2,301 3.88%

    Approval Rates

    Total approvals of all applications
    95.95%

    The Equitable Bank S.s.b. 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
    82.66%

    The Equitable Bank S.s.b. has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 398 $140,450,000 $352,889

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    398 $140,450,000 $352,889

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 21 $8,365,000 $398,333 $2,024 4.26%
    40-60% 39 $11,055,000 $283,462 $2,085 4.04%
    60-80% 124 $58,970,000 $475,565 $2,623 4.36%
    80-100% 197 $61,065,000 $309,975 $3,258 4.43%
    Over 100% 1 $235,000 $235,000 $5,863 2.50%
    Under 20% 16 $760,000 $47,500 $281 4.55%