Settlers Bank Mortgage Rates, Fees & InfoWindsor, WI
Tax ID: 26-0636784
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewSettlers Bank is a smaller bank specializing in Home Purchase loans. Settlers Bank has a high proportion of conventional loans. Their top markets by origination volume include: Madison, Oshkosh, Appleton, Baraboo, and Naples among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)
Settlers Bank 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. Settlers Bank 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.09%||12/10/23|
|30 Year Conventional Refi||5.87%||12/10/23|
|30 Year Cash-out Refi||6.31%||12/10/23|
|30 Year VA Purchase||6.50%||12/10/23|
|30 Year VA Refi||5.72%||12/10/23|
|15 Year Conventional Purchase||5.83%||12/10/23|
|15 Year Conventional Refi||5.72%||12/10/23|
|15 Year Cash-out Refi||5.72%||12/10/23|
|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.|
Settlers Bank Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Settlers 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.
Origination Dollar Volume (All Markets)$60,870,000
Settlers Bank - 2022
Settlers Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Settlers Bank's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.04%.
Relative Fees (Closing Costs)
Settlers Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,838.
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 $4,750.
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|
|MADISON, WI (FHA|USDA|VA)||81||$33,295,000||$411,049||$2,441||4.51%|
|Outside of Metro Areas||8||$8,270,000||$1,033,750||$2,631||4.70%|
|OSHKOSH-NEENAH, WI (FHA|USDA|VA)||11||$4,905,000||$445,909||$2,931||5.13%|
|APPLETON, WI (FHA|USDA|VA)||17||$4,485,000||$263,824||$3,064||4.98%|
|Baraboo, WI (FHA|USDA|VA)||8||$2,830,000||$353,750||$1,649||4.69%|
|NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)||1||$2,635,000||$2,635,000||$0||4.13%|
|MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA)||3||$1,055,000||$351,667||$3,631||5.42%|
|Beaver Dam, WI (FHA|USDA|VA)||2||$850,000||$425,000||$1,828||4.06%|
|EAU CLAIRE, WI (FHA|USDA|VA)||1||$705,000||$705,000||$3,383||4.50%|
|MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA)||1||$545,000||$545,000||$3,151||3.13%|
|GREEN BAY, WI (FHA|USDA|VA)||2||$420,000||$210,000||$1,907||4.88%|
|LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA)||1||$365,000||$365,000||$3,503||6.88%|
|Watertown-Fort Atkinson, WI (FHA|USDA|VA)||1||$165,000||$165,000||$408||3.99%|
|Whitewater, WI (FHA|USDA|VA)||1||$145,000||$145,000||$3,325||3.13%|
|FOND DU LAC, WI (FHA|USDA|VA)||1||$135,000||$135,000||$2,460||5.13%|
|WAUSAU-WESTON, WI (FHA|USDA|VA)||1||$65,000||$65,000||$0||4.00%|
We use machine learning to identify the top lenders compared against Settlers Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Settlers Bank's most frequently originated type of loan was Conventional, with 139 originations. Their 2nd most popular type was VA, with 1 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||18||$4,940,000||$274,444||$1,856||4.14%|
For 2022, Settlers Bank's most frequently cited loan purpose was Home Purchase, with 108 originations. The 2nd most popular reason was Cash Out Refi, with 18 originations.
For 2022, Settlers Bank's most frequently cited loan duration was 30 Year, with 102 originations. The 2nd most popular length was 20 Year, with 13 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Settlers Bank's average total fees were $2,838, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 100 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, Settlers Bank's average interest rate for loans was 4.72%, while their most frequently originated rate bucket for loans was 4-5%, with 47 originations.
2022 saw Settlers Bank place emphasis on $200k-400k loans with 50 originations, totaling $15,020,000 in origination value.
Settlers Bank lent most frequently to those with incomes in the $150k-250k range, with 35 originations. The second most popular income band? $250k+, with 29 originations.
Applicant Debt to Income Ratio
Settlers Bank lent most frequently to those with DTI ratios of 20-30%, with 31 originations. The next most common DTI ratio? 30-36%, with 25 originations.
Approval RatesTotal approvals of all applications
Settlers Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Settlers Bank has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|