Oak Bank Mortgage Rates, Fees & Info

Fitchburg, WI

LEI: 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

112

Origination Dollar Volume (All Markets)

$43,620,000

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
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%
Oak Bank's top markets include Madison, Janesville, Milwaukee, Cape Coral, and Chicago among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 77 $29,685,000 $385,519 $0 0.00%
    Refi 29 $12,775,000 $440,517 $0 0.00%
    Home Improvement 3 $575,000 $191,667 $0 0.00%
    Other 3 $585,000 $195,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 47 $13,785,000 $293,298 $0 0.00%
    $100k-200k 20 $3,170,000 $158,500 $0 0.00%
    $400k-600k 17 $8,615,000 $506,765 $0 0.00%
    $600k-1MM 15 $11,175,000 $745,000 $0 0.00%
    $100,000 or less 8 $590,000 $73,750 $0 0.00%
    $1MM+ 5 $6,285,000 $1,257,000 $0 0.00%

    2022 saw Oak Bank place emphasis on $200k-400k loans with 47 originations, totaling $13,785,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 25 $9,445,000 $377,800 $0 0.00%
    $250k+ 20 $9,630,000 $481,500 $0 0.00%
    $100k-150k 14 $3,990,000 $285,000 $0 0.00%
    $75k-100k 9 $2,635,000 $292,778 $0 0.00%
    $50k-75k 6 $1,330,000 $221,667 $0 0.00%
    $50k or less 5 $3,465,000 $693,000 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 63 $25,725,000 $408,333 $0 0.00%
    Not applicable 30 $12,590,000 $419,667 $0 0.00%
    Not provided 13 $3,495,000 $268,846 $0 0.00%
    Asian 3 $875,000 $291,667 $0 0.00%
    Chinese 2 $730,000 $365,000 $0 0.00%
    Black 1 $205,000 $205,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.78%

    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 origination
    83.93%

    Oak Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 112 $43,620,000 $389,464

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    112 $43,620,000 $389,464