Marquette Bank Mortgage Rates, Fees & Info

Chicago, IL

LEI: 549300QX0QWWJKEY4R28

Tax ID: 36-2031498

5 stars - Updated: 12/5/24 - out of 5 stars, based on 22 reviews

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

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Mortgage Data

Review & Overview

Marquette Bank is a smaller bank specializing in Home Purchase loans. Marquette Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Chicago, South Bend, Cincinnati, Austin, and Michigan City among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

Marquette Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Marquette Bank is typically an average 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.

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 6.48% 12/5/24
30 Year Conventional Refi 6.33% 12/5/24
30 Year Cash-out Refi 6.69% 12/5/24
30 Year FHA Purchase 7.00% 12/5/24
30 Year FHA Refi 7.25% 12/5/24
15 Year Conventional Purchase 5.88% 12/5/24
15 Year Conventional Refi 6.13% 12/5/24
15 Year Cash-out Refi 6.13% 12/5/24
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.

Marquette Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Marquette 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

470

Origination Dollar Volume (All Markets)

$131,790,000

Awards

Marquette Bank FHA Loans silver Marquette Bank 30 Year Conventional Loans silver Marquette Bank FHA Loans bronze
Show all (3) awards

Relative Rate

Marquette Bank's average 30 year fixed mortgage rate was 6.35%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.13%.

Relative Fees (Closing Costs)

Marquette Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,992.

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
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 457 $128,635,000 $281,477 $3,084 5.60%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 2 $1,270,000 $635,000 $5,871 6.69%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $365,000 $365,000 $3,761 6.13%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $285,000 $285,000 $4,510 6.38%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 2 $280,000 $140,000 $2,165 6.31%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $245,000 $245,000 $3,095 7.50%
ERIE, PA (FHA|USDA|VA) 1 $235,000 $235,000 $3,866 4.75%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $185,000 $185,000 $0 6.38%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $155,000 $155,000 $2,135 6.25%
Outside of Metro Areas 1 $55,000 $55,000 $0 7.50%
NILES, MI (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.63%
Ottawa, IL (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.00%
Marquette Bank's top markets include Chicago, South Bend, Cincinnati, Austin, and Michigan City among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
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    We use machine learning to identify the top lenders compared against Marquette 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 430 $122,460,000 $284,791 $2,680 5.55%
    FHA 40 $9,330,000 $233,250 $8,681 6.35%

    For 2023, Marquette Bank's most frequently originated type of loan was Conventional, with 430 originations. Their 2nd most popular type was FHA, with 40 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 237 $100,505,000 $424,072 $6,374 6.32%
    Home Improvement 126 $5,730,000 $45,476 $48 3.49%
    Other 55 $3,565,000 $64,818 $289 6.74%
    Refi 40 $20,100,000 $502,500 $1,267 6.36%
    Cash Out Refi 12 $1,890,000 $157,500 $2,667 6.49%

    For 2023, Marquette Bank's most frequently cited loan purpose was Home Purchase, with 237 originations. The 2nd most popular reason was Home Improvement, with 126 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 254 $96,680,000 $380,630 $5,992 6.35%
    5 Year 79 $10,895,000 $137,911 $0 2.28%
    15 Year 51 $4,165,000 $81,667 $640 5.55%
    20 Year 27 $2,315,000 $85,741 $720 7.34%
    Other 26 $14,550,000 $559,615 $0 5.53%
    10 Year 23 $1,375,000 $59,783 $115 6.84%
    3 Year 7 $1,135,000 $162,143 $0 5.36%
    1 Year 3 $675,000 $225,000 $0 9.17%

    For 2023, Marquette Bank's most frequently cited loan duration was 30 Year, with 254 originations. The 2nd most popular length was 5 Year, with 79 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 303 $42,565,000 $140,479
    $1k-2k 60 $12,720,000 $212,000
    $2k-3k 26 $7,510,000 $288,846
    $3k-4k 21 $12,015,000 $572,143
    $4k-5k 8 $4,230,000 $528,750
    $5k+ 8 $4,060,000 $507,500

    Marquette Bank's average total fees were $5,992, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 303 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 197 $59,695,000 $303,020
    5-6% 104 $53,270,000 $512,212
    7-8% 69 $11,635,000 $168,623
    <2.5% 54 $810,000 $15,000
    3-4% 22 $750,000 $34,091
    4-5% 17 $4,545,000 $267,353
    Over 8% 7 $1,085,000 $155,000

    During 2023, Marquette Bank's average interest rate for loans was 6.35%, while their most frequently originated rate bucket for loans was 6-7%, with 197 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 189 $7,345,000 $38,862 $238 4.51%
    $200k-400k 110 $31,240,000 $284,000 $5,763 6.52%
    $100k-200k 85 $13,055,000 $153,588 $3,872 6.45%
    $400k-600k 42 $20,790,000 $495,000 $7,493 6.29%
    $600k-1MM 27 $20,445,000 $757,222 $8,205 5.84%
    $1MM+ 17 $38,915,000 $2,289,118 $7,385 5.89%

    2023 saw Marquette Bank place emphasis on $100,000 or less loans with 189 originations, totaling $7,345,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 100 $16,820,000 $168,200 $2,654 5.41%
    $75k-100k 84 $13,170,000 $156,786 $3,095 5.46%
    $50k-75k 82 $9,510,000 $115,976 $2,312 5.36%
    $150k-250k 80 $25,690,000 $321,125 $4,397 6.00%
    $50k or less 59 $5,055,000 $85,678 $1,598 5.32%
    $250k+ 26 $14,250,000 $548,077 $5,450 6.25%

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

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 101 $16,565,000 $164,010 $2,424 4.76%
    30-36% 74 $12,740,000 $172,162 $2,711 5.72%
    42% 38 $5,580,000 $146,842 $888 5.84%
    <20% 24 $4,450,000 $185,417 $2,084 4.41%
    41% 24 $4,120,000 $171,667 $2,275 5.31%
    44% 23 $7,075,000 $307,609 $8,204 6.28%
    40% 23 $2,765,000 $120,217 $1,350 5.76%
    38% 23 $5,365,000 $233,261 $3,271 5.60%
    39% 19 $5,175,000 $272,368 $3,322 5.94%
    36% 15 $2,605,000 $173,667 $2,059 5.74%
    37% 14 $2,780,000 $198,571 $4,365 6.00%
    50-60% 11 $2,805,000 $255,000 $9,212 6.45%
    43% 9 $2,665,000 $296,111 $5,888 6.53%
    47% 8 $2,180,000 $272,500 $4,910 6.69%
    45% 7 $1,635,000 $233,571 $4,085 6.36%
    46% 6 $2,370,000 $395,000 $7,099 6.29%
    49% 6 $1,690,000 $281,667 $5,394 6.85%
    >60% 3 $645,000 $215,000 $6,590 6.88%
    48% 3 $985,000 $328,333 $6,386 6.46%

    Marquette Bank lent most frequently to those with DTI ratios of 20-30%, with 101 originations. The next most common DTI ratio? 30-36%, with 74 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 376 $70,990,000 $188,803 $2,788 5.48%
    Not applicable 35 $45,975,000 $1,313,571 $0 6.24%
    Black 45 $9,705,000 $215,667 $4,918 6.22%
    Asian 8 $4,370,000 $546,250 $8,063 6.44%
    Not provided 3 $505,000 $168,333 $3,789 5.54%
    American Indian 3 $245,000 $81,667 $1,106 4.42%

    Approval Rates

    Total approvals of all applications
    86.63%

    Marquette Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.23%

    Marquette Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 470 $131,790,000 $280,404

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    470 $131,790,000 $280,404

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 47 $9,665,000 $205,638 $1,424 6.62%
    40-60% 45 $29,395,000 $653,222 $4,193 6.37%
    60-80% 91 $44,725,000 $491,484 $5,562 6.32%
    80-100% 128 $38,770,000 $302,891 $6,995 6.41%
    Under 20% 159 $9,235,000 $58,082 $38 4.06%