Incrediblebank Mortgage Rates, Fees & Info

Wausau, WI

LEI: 549300TV5ZED3EINI708

Tax ID: 39-1088977

5 stars - Updated: 7/11/24 - out of 5 stars, based on 21 reviews

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

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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.

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 6.63% 7/11/24
30 Year Conventional Refi 6.49% 7/11/24
30 Year Cash-out Refi 6.70% 7/11/24
30 Year FHA Purchase 6.27% 7/11/24
30 Year VA Purchase 6.27% 7/11/24
30 Year USDA Purchase 6.55% 7/11/24
30 Year USDA Refi 6.61% 7/11/24
15 Year Conventional Purchase 5.86% 7/11/24
15 Year Conventional Refi 5.82% 7/11/24
15 Year Cash-out Refi 5.82% 7/11/24
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

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

This is not an official calculator from Incrediblebank. 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

445

Origination Dollar Volume (All Markets)

$111,125,000
Show all (8) awards

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%
Incrediblebank's top markets include Marquette, Wausau, Madison, Naples, and Milwaukee among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Utah (FHA|USDA|VA)
  • 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.

    Honor Credit Union
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    State Bank of Cross Plains
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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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 324 $85,050,000 $262,500 $3,452 6.88%
    Home Improvement 46 $4,250,000 $92,391 $1,397 7.15%
    Refi 38 $17,560,000 $462,105 $2,747 7.03%
    Other 26 $1,660,000 $63,846 $1,452 7.41%
    Cash Out Refi 11 $2,605,000 $236,818 $2,883 6.97%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 272 $71,530,000 $262,978 $3,403 6.80%
    15 Year 62 $6,670,000 $107,581 $1,651 7.09%
    5 Year 37 $5,635,000 $152,297 $971 7.14%
    30+ year 24 $14,460,000 $602,500 $5,407 6.94%
    10 Year 20 $1,380,000 $69,000 $991 6.88%
    20 Year 16 $2,860,000 $178,750 $2,984 7.66%
    3 Year 7 $5,085,000 $726,429 $0 8.04%
    Other 6 $3,380,000 $563,333 $5,344 8.66%
    1 Year 1 $125,000 $125,000 $0 8.99%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 357 $81,225,000 $227,521
    $1k-2k 35 $11,485,000 $328,143
    $2k-3k 9 $2,005,000 $222,778
    $3k-4k 4 $780,000 $195,000
    $4k-5k 2 $510,000 $255,000
    $5k+ 2 $670,000 $335,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 136 $19,730,000 $145,074 $2,778 7.01%
    $200k-400k 130 $35,600,000 $273,846 $3,497 6.89%
    $100,000 or less 116 $6,600,000 $56,897 $1,808 7.04%
    $400k-600k 34 $16,320,000 $480,000 $4,414 6.75%
    $600k-1MM 21 $15,275,000 $727,381 $4,548 6.81%
    $1MM+ 8 $17,600,000 $2,200,000 $10,520 7.21%

    2023 saw Incrediblebank place emphasis on $100k-200k loans with 136 originations, totaling $19,730,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 85 $17,785,000 $209,235 $3,023 7.02%
    $50k-75k 82 $10,160,000 $123,902 $2,426 6.91%
    $150k-250k 77 $21,405,000 $277,987 $3,178 6.99%
    $75k-100k 67 $12,035,000 $179,627 $2,892 6.79%
    $50k or less 50 $4,230,000 $84,600 $2,454 6.75%
    $250k+ 49 $26,045,000 $531,531 $4,389 6.98%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 109 $22,645,000 $207,752 $2,902 6.86%
    30-36% 84 $18,590,000 $221,310 $3,052 6.86%
    <20% 40 $13,020,000 $325,500 $3,264 6.92%
    37% 26 $6,630,000 $255,000 $3,381 7.02%
    38% 23 $4,875,000 $211,957 $3,101 6.82%
    41% 17 $4,275,000 $251,471 $3,065 6.84%
    36% 15 $2,565,000 $171,000 $2,903 7.03%
    40% 15 $3,095,000 $206,333 $2,292 6.88%
    43% 13 $2,635,000 $202,692 $2,704 6.77%
    42% 12 $2,930,000 $244,167 $2,918 6.80%
    45% 12 $2,660,000 $221,667 $2,856 6.65%
    49% 11 $3,065,000 $278,636 $3,816 7.14%
    39% 11 $3,955,000 $359,545 $3,519 6.93%
    44% 9 $3,155,000 $350,556 $3,425 6.90%
    47% 5 $935,000 $187,000 $3,036 7.35%
    46% 5 $1,155,000 $231,000 $2,698 7.05%
    50-60% 5 $1,045,000 $209,000 $2,845 7.51%
    48% 4 $900,000 $225,000 $3,095 6.97%
    >60% 2 $420,000 $210,000 $0 8.25%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 325 $80,115,000 $246,508 $3,182 6.95%
    Not provided 85 $16,045,000 $188,765 $2,430 6.81%
    Not applicable 24 $12,100,000 $504,167 $0 7.65%
    Asian 3 $1,675,000 $558,333 $5,506 6.29%
    American Indian 6 $810,000 $135,000 $2,973 6.71%
    Black 1 $285,000 $285,000 $3,189 7.00%
    Native Hawaiian or Islander 1 $95,000 $95,000 $2,804 6.88%

    Approval Rates

    Total approvals of all applications
    88.44%

    Incrediblebank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.13%

    Incrediblebank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 445 $111,125,000 $249,719

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    445 $111,125,000 $249,719

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 55 $6,685,000 $121,545 $1,680 7.02%
    40-60% 40 $16,180,000 $404,500 $3,901 6.90%
    60-80% 149 $42,975,000 $288,423 $3,553 6.94%
    80-100% 155 $43,035,000 $277,645 $3,419 6.86%
    Under 20% 46 $2,250,000 $48,913 $896 7.30%