Incrediblebank Mortgage Rates, Fees & Info
Wausau, WILEI: 549300TV5ZED3EINI708
Tax ID: 39-1088977
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Mortgage Data
Review & Overview
Incrediblebank is a smaller bank specializing in Home Purchase loans. Incrediblebank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Marquette, Wausau, Madison, Naples, and Milwaukee among others. We have data for 39 markets. (Some data included below & more in-depth data is available with an active subscription.)Incrediblebank 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. Incrediblebank 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 | 6.63% | 11/17/24 |
| 30 Year Conventional Refi | 6.49% | 11/17/24 |
| 30 Year Cash-out Refi | 6.70% | 11/17/24 |
| 30 Year FHA Purchase | 6.27% | 11/17/24 |
| 30 Year VA Purchase | 6.27% | 11/17/24 |
| 30 Year USDA Purchase | 6.55% | 11/17/24 |
| 30 Year USDA Refi | 6.61% | 11/17/24 |
| 15 Year Conventional Purchase | 5.86% | 11/17/24 |
| 15 Year Conventional Refi | 5.82% | 11/17/24 |
| 15 Year Cash-out Refi | 5.82% | 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. | ||
Incrediblebank Mortgage Calculator
Your Estimates
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This is not an official calculator from Incrediblebank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
445Origination Dollar Volume (All Markets)
$111,125,000Awards
IncredibleBank - 2023
IncredibleBank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Incrediblebank's average 30 year fixed mortgage rate was
6.8%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.32%.
Relative Fees (Closing Costs)
Incrediblebank's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,403.
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 |
|---|---|---|---|---|---|
| Marquette, MI (FHA|USDA|VA) | 96 | $21,490,000 | $223,854 | $2,827 | 6.93% |
| Outside of Metro Areas | 111 | $20,375,000 | $183,559 | $2,895 | 7.05% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 78 | $15,580,000 | $199,744 | $2,333 | 6.95% |
| MADISON, WI (FHA|USDA|VA) | 22 | $9,700,000 | $440,909 | $3,315 | 6.90% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 5 | $7,775,000 | $1,555,000 | $11,545 | 6.70% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 4 | $5,320,000 | $1,330,000 | $3,177 | 7.03% |
| Houghton, MI (FHA|USDA|VA) | 33 | $5,195,000 | $157,424 | $2,720 | 7.07% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 17 | $4,875,000 | $286,765 | $4,176 | 6.53% |
| Iron Mountain, MI-WI (FHA|USDA|VA) | 30 | $4,450,000 | $148,333 | $2,668 | 6.89% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 9 | $3,075,000 | $341,667 | $4,558 | 6.86% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $1,650,000 | $825,000 | $0 | 9.88% |
| Clewiston, FL (FHA|USDA|VA) | 2 | $1,150,000 | $575,000 | $6,025 | 7.25% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $1,130,000 | $565,000 | $5,771 | 6.38% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $0 | 6.90% |
| Baraboo, WI (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $3,634 | 6.29% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $3,745 | 6.69% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $4,717 | 8.25% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $3,377 | 5.63% |
| Stevens Point, WI (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $2,775 | 7.58% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $3,924 | 5.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $5,079 | 7.25% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $7,172 | 5.88% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,255 | 7.13% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $2,812 | 6.19% |
| Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $2,667 | 7.56% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $6,357 | 6.88% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,533 | 7.38% |
| Marinette, WI-MI (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $2,754 | 7.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,169 | 6.88% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,782 | 7.00% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,088 | 6.75% |
| RACINE, WI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,917 | 6.63% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,513 | 6.25% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,660 | 6.63% |
| Shawano, WI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,070 | 7.38% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,939 | 6.75% |
| Manitowoc, WI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,705 | 6.88% |
| Escanaba, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,533 | 6.25% |
| Alexandria, MN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $738 | 7.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against IncredibleBank 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 | 434 | $109,850,000 | $253,111 | $3,006 | 6.96% |
| USDA | 11 | $1,275,000 | $115,909 | $4,234 | 6.77% |
For 2023, Incrediblebank's most frequently originated type of loan was Conventional, with 434 originations. Their 2nd most popular type was USDA, with 11 originations.
Loan Reason
For 2023, Incrediblebank's most frequently cited loan purpose was Home Purchase, with 324 originations. The 2nd most popular reason was Home Improvement, with 46 originations.
Loan Duration/Length
For 2023, Incrediblebank's most frequently cited loan duration was 30 Year, with 272 originations. The 2nd most popular length was 15 Year, with 62 originations.
Origination Fees/Closing Costs
Incrediblebank's average total fees were $3,403, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 357 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 232 | $59,370,000 | $255,905 |
| 7-8% | 126 | $32,680,000 | $259,365 |
| 5-6% | 42 | $10,230,000 | $243,571 |
| Over 8% | 40 | $6,930,000 | $173,250 |
| 4-5% | 5 | $1,915,000 | $383,000 |
During 2023, Incrediblebank's average interest rate for loans was 6.80%, while their most frequently originated rate bucket for loans was 6-7%, with 232 originations.
Loan Sizing
2023 saw Incrediblebank place emphasis on $100k-200k loans with 136 originations, totaling $19,730,000 in origination value.
Applicant Income
Incrediblebank lent most frequently to those with incomes in the $100k-150k range, with 85 originations. The second most popular income band? $50k-75k, with 82 originations.
Applicant Debt to Income Ratio
Incrediblebank lent most frequently to those with DTI ratios of 20-30%, with 109 originations. The next most common DTI ratio? 30-36%, with 84 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.44%
Incrediblebank has an average approval rate.
Pick Rate
Approvals leading to origination72.13%
Incrediblebank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 445 | $111,125,000 | $249,719 |