Oak Bank Mortgage Rates, Fees & Info
Fitchburg, WILEI: 549300UXZ76FJVM3UC43
Tax ID: 39-1998382
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Mortgage Data
Review & Overview
Oak Bank is a smaller bank specializing in Home Purchase and Refi loans. Oak Bank has a high proportion of conventional loans. Their top markets by origination volume include: Madison, Janesville, Milwaukee, Cape Coral, and Chicago among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)Oak 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.
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Originations
112Origination Dollar Volume (All Markets)
$43,620,000Top 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 |
|---|---|---|---|---|---|
| MADISON, WI (FHA|USDA|VA) | 83 | $35,105,000 | $422,952 | $0 | 0.00% |
| Outside of Metro Areas | 8 | $1,880,000 | $235,000 | $0 | 0.00% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 6 | $1,850,000 | $308,333 | $0 | 0.00% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 4 | $740,000 | $185,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $0 | 0.00% |
| Baraboo, WI (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 0.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| Marinette, WI-MI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| Beaver Dam, WI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Shawano, WI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 112 | $43,620,000 | $389,464 | $0 | 0.00% |
For 2022, Oak Bank's most frequently originated type of loan was Conventional, with 112 originations.
Loan Reason
For 2022, Oak Bank's most frequently cited loan purpose was Home Purchase, with 77 originations. The 2nd most popular reason was Refi, with 29 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 112 | $43,620,000 | $389,464 | $0 | 0.00% |
For 2022, Oak Bank's most frequently cited loan duration was Other, with 112 originations.
Loan Sizing
2022 saw Oak Bank place emphasis on $200k-400k loans with 47 originations, totaling $13,785,000 in origination value.
Applicant Income
Oak Bank lent most frequently to those with incomes in the $150k-250k range, with 25 originations. The second most popular income band? $250k+, with 20 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 112 | $43,620,000 | $389,464 | $0 | 0.00% |
Oak Bank lent most frequently to those with DTI ratios of Exempt%, with 112 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.78%
Oak Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination83.93%
Oak Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 112 | $43,620,000 | $389,464 |