Incrediblebank Mortgage Rates, Fees & Info

Wausau, WI

LEI: 549300TV5ZED3EINI708

Tax ID: 39-1088977

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

Jump to:

  • 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

    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, Milwaukee, Wausau, Houghton, and Madison among others. We have data for 36 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 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 6.63% 11/21/24
    30 Year Conventional Refi 6.49% 11/21/24
    30 Year Cash-out Refi 6.70% 11/21/24
    30 Year FHA Purchase 6.27% 11/21/24
    30 Year VA Purchase 6.27% 11/21/24
    30 Year USDA Purchase 6.55% 11/21/24
    30 Year USDA Refi 6.61% 11/21/24
    15 Year Conventional Purchase 5.86% 11/21/24
    15 Year Conventional Refi 5.82% 11/21/24
    15 Year Cash-out Refi 5.82% 11/21/24
    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.

    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

    611

    Origination Dollar Volume (All Markets)

    $151,685,000
    Show all (5) 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
    Marquette, MI (FHA|USDA|VA) 164 $32,520,000 $198,293 $2,453 4.93%
    Outside of Metro Areas 148 $28,240,000 $190,811 $2,694 4.90%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 5 $27,325,000 $5,465,000 $3,152 4.43%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 127 $22,785,000 $179,409 $2,264 4.75%
    Houghton, MI (FHA|USDA|VA) 51 $8,345,000 $163,627 $2,727 4.97%
    MADISON, WI (FHA|USDA|VA) 19 $6,135,000 $322,895 $2,871 4.77%
    Iron Mountain, MI-WI (FHA|USDA|VA) 34 $5,330,000 $156,765 $2,358 5.28%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 6 $5,140,000 $856,667 $7,026 3.85%
    Stevens Point, WI (FHA|USDA|VA) 7 $2,515,000 $359,286 $2,746 4.25%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 5 $1,745,000 $349,000 $4,520 4.93%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 4 $1,160,000 $290,000 $4,586 4.19%
    GREEN BAY, WI (FHA|USDA|VA) 4 $830,000 $207,500 $2,454 4.16%
    PUNTA GORDA, FL (FHA|USDA|VA) 2 $810,000 $405,000 $4,170 3.63%
    Marinette, WI-MI (FHA|USDA|VA) 7 $775,000 $110,714 $2,820 4.61%
    Williston, ND (FHA|USDA|VA) 1 $655,000 $655,000 $0 4.00%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $650,000 $325,000 $4,088 3.69%
    BELLINGHAM, WA (FHA|USDA|VA) 1 $645,000 $645,000 $21,816 4.25%
    Spearfish, SD (FHA|USDA|VA) 1 $645,000 $645,000 $4,678 6.13%
    BOULDER, CO (FHA|USDA|VA) 1 $635,000 $635,000 $2,941 4.63%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $515,000 $515,000 $4,109 5.38%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $490,000 $245,000 $3,881 4.81%
    ENID, OK (FHA|USDA|VA) 1 $475,000 $475,000 $6,348 2.75%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $425,000 $425,000 $5,345 4.13%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 3 $365,000 $121,667 $1,897 5.38%
    ROCHESTER, MN (FHA|USDA|VA) 1 $305,000 $305,000 $3,281 4.50%
    DULUTH, MN-WI (FHA|USDA|VA) 2 $300,000 $150,000 $2,728 5.94%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $285,000 $285,000 $3,354 3.50%
    Baraboo, WI (FHA|USDA|VA) 1 $255,000 $255,000 $2,870 5.75%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $255,000 $255,000 $4,068 5.63%
    Escanaba, MI (FHA|USDA|VA) 2 $200,000 $100,000 $1,647 5.06%
    Traverse City, MI (FHA|USDA|VA) 1 $195,000 $195,000 $2,796 4.88%
    Shawano, WI (FHA|USDA|VA) 1 $195,000 $195,000 $2,536 6.25%
    EAU CLAIRE, WI (FHA|USDA|VA) 1 $185,000 $185,000 $3,195 4.63%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $185,000 $185,000 $0 5.75%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $125,000 $125,000 $3,009 3.88%
    APPLETON, WI (FHA|USDA|VA) 1 $45,000 $45,000 $681 5.38%
    Incrediblebank's top markets include Marquette, Milwaukee, Wausau, Houghton, and Madison among others.

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

    AbbyBank
    Similarity Rank: 112
    Prevail Bank
    Similarity Rank: 114
    Forward Bank
    Similarity Rank: 132
    Landmark Credit Union
    Similarity Rank: 156
    Honor Credit Union
    Similarity Rank: 183
    Range Bank
    Similarity Rank: 242
    Hometown Bank
    Similarity Rank: 323
    Farmers & Merchants State Bank
    Similarity Rank: 338
    Bank of Sun Prairie
    Similarity Rank: 390
    Bank of Deerfield
    Similarity Rank: 403

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 592 $149,270,000 $252,145 $2,622 4.86%
    USDA 19 $2,415,000 $127,105 $4,063 4.66%

    For 2022, Incrediblebank's most frequently originated type of loan was Conventional, with 592 originations. Their 2nd most popular type was USDA, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 413 $116,645,000 $282,433 $3,032 5.10%
    Refi 80 $16,970,000 $212,125 $2,072 4.17%
    Cash Out Refi 53 $9,535,000 $179,906 $2,297 4.05%
    Home Improvement 42 $4,140,000 $98,571 $1,247 4.75%
    Other 23 $4,395,000 $191,087 $2,009 4.91%

    For 2022, Incrediblebank's most frequently cited loan purpose was Home Purchase, with 413 originations. The 2nd most popular reason was Refi, with 80 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 400 $89,040,000 $222,600 $2,842 4.98%
    15 Year 81 $11,965,000 $147,716 $2,061 4.10%
    5 Year 48 $7,890,000 $164,375 $454 5.47%
    20 Year 29 $4,505,000 $155,345 $2,159 4.83%
    30+ year 24 $9,970,000 $415,417 $4,435 4.93%
    10 Year 21 $1,605,000 $76,429 $1,088 4.02%
    Other 5 $1,335,000 $267,000 $1,972 4.73%
    3 Year 3 $25,375,000 $8,458,333 $0 4.82%

    For 2022, Incrediblebank's most frequently cited loan duration was 30 Year, with 400 originations. The 2nd most popular length was 15 Year, with 81 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 512 $108,190,000 $211,309
    $1k-2k 32 $5,190,000 $162,188
    $2k-3k 9 $1,795,000 $199,444
    $3k-4k 4 $680,000 $170,000
    $5k+ 3 $1,575,000 $525,000
    $4k-5k 1 $175,000 $175,000

    Incrediblebank's average total fees were $2,842, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 512 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 197 $52,085,000 $264,391
    5-6% 175 $36,795,000 $210,257
    3-4% 119 $28,175,000 $236,765
    6-7% 65 $9,765,000 $150,231
    2.5-3% 29 $21,755,000 $750,172
    7-8% 17 $2,125,000 $125,000
    <2.5% 8 $880,000 $110,000
    Over 8% 1 $105,000 $105,000

    During 2022, Incrediblebank's average interest rate for loans was 4.98%, while their most frequently originated rate bucket for loans was 4-5%, with 197 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 232 $34,770,000 $149,871 $2,553 5.05%
    $200k-400k 165 $44,575,000 $270,152 $2,882 4.69%
    $100,000 or less 145 $9,315,000 $64,241 $1,819 4.88%
    $400k-600k 50 $23,290,000 $465,800 $3,769 4.48%
    $600k-1MM 14 $9,760,000 $697,143 $5,647 5.02%
    $1MM+ 5 $29,975,000 $5,995,000 $7,653 3.98%

    2022 saw Incrediblebank place emphasis on $100k-200k loans with 232 originations, totaling $34,770,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 119 $16,555,000 $139,118 $2,473 4.99%
    $100k-150k 114 $25,070,000 $219,912 $2,476 4.77%
    $75k-100k 103 $19,115,000 $185,583 $2,556 4.75%
    $50k or less 94 $9,960,000 $105,957 $2,355 4.72%
    $150k-250k 83 $23,685,000 $285,361 $2,941 4.70%
    $250k+ 44 $21,700,000 $493,182 $4,224 4.96%

    Incrediblebank lent most frequently to those with incomes in the $50k-75k range, with 119 originations. The second most popular income band? $100k-150k, with 114 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 147 $30,685,000 $208,741 $2,709 4.78%
    30-36% 125 $26,215,000 $209,720 $2,620 4.76%
    <20% 52 $9,870,000 $189,808 $2,881 4.64%
    42% 28 $7,740,000 $276,429 $2,929 5.24%
    41% 27 $5,905,000 $218,704 $2,672 5.04%
    37% 27 $5,495,000 $203,519 $2,636 4.53%
    39% 24 $4,640,000 $193,333 $2,358 4.95%
    36% 24 $4,070,000 $169,583 $2,482 4.41%
    44% 21 $4,825,000 $229,762 $2,664 5.02%
    38% 19 $3,875,000 $203,947 $2,100 4.84%
    40% 16 $2,920,000 $182,500 $2,988 4.83%
    43% 16 $3,880,000 $242,500 $3,077 4.66%
    47% 10 $2,640,000 $264,000 $2,373 4.78%
    46% 9 $1,385,000 $153,889 $2,499 4.67%
    48% 8 $1,530,000 $191,250 $2,555 5.70%
    49% 6 $880,000 $146,667 $2,238 5.31%
    45% 4 $1,300,000 $325,000 $2,954 5.63%
    50-60% 2 $420,000 $210,000 $4,616 4.44%
    >60% 1 $185,000 $185,000 $0 5.99%

    Incrediblebank lent most frequently to those with DTI ratios of 20-30%, with 147 originations. The next most common DTI ratio? 30-36%, with 125 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 459 $96,865,000 $211,035 $2,654 4.80%
    Not applicable 43 $32,985,000 $767,093 $0 5.46%
    Not provided 97 $19,585,000 $201,907 $2,764 4.87%
    Asian 6 $1,470,000 $245,000 $2,877 4.90%
    American Indian 4 $420,000 $105,000 $1,795 5.28%
    Black 2 $360,000 $180,000 $3,096 3.38%

    Approval Rates

    Total approvals of all applications
    89.02%

    Incrediblebank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    73.65%

    Incrediblebank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 611 $151,685,000 $248,257

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    611 $151,685,000 $248,257

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 55 $6,195,000 $112,636 $1,688 4.68%
    40-60% 75 $15,555,000 $207,400 $2,511 4.23%
    60-80% 199 $44,275,000 $222,487 $2,928 4.88%
    80-100% 250 $68,470,000 $273,880 $2,980 5.05%
    Over 100% 1 $15,845,000 $15,845,000 $0 3.00%
    Under 20% 31 $1,345,000 $43,387 $609 5.13%