Abbybank Mortgage Rates, Fees & Info

Abbotsford, WI

LEI: 549300ZAI389CEN8VG51

Tax ID: 39-1087461

5 stars - Updated: 3/29/24 - out of 5 stars, based on 13 reviews

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

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Mortgage Data

Review & Overview

Abbybank is a smaller bank specializing in Home Purchase loans. Abbybank has a high proportion of conventional loans. Their top markets by origination volume include: Wausau, Oshkosh, Shawano, Appleton, and Madison among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Abbybank 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. Abbybank 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 6.82% 3/29/24
30 Year Conventional Refi 6.47% 3/29/24
30 Year Cash-out Refi 6.54% 3/29/24
30 Year USDA Purchase 7.15% 3/29/24
15 Year Conventional Purchase 5.97% 3/29/24
15 Year Conventional Refi 5.91% 3/29/24
15 Year Cash-out Refi 5.91% 3/29/24
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.

Abbybank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Abbybank. 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

176

Origination Dollar Volume (All Markets)

$33,180,000

Awards

AbbyBank 30 Year Conventional Loans silver AbbyBank 30 Year Conventional Loans gold AbbyBank 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Abbybank's average 30 year fixed mortgage rate was 6.73%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.25%.

Relative Fees (Closing Costs)

Abbybank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,164.

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
WAUSAU-WESTON, WI (FHA|USDA|VA) 73 $11,935,000 $163,493 $1,351 7.15%
Outside of Metro Areas 71 $9,575,000 $134,859 $1,669 6.91%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 3 $4,965,000 $1,655,000 $1,413 6.97%
Shawano, WI (FHA|USDA|VA) 11 $3,005,000 $273,182 $1,931 6.45%
APPLETON, WI (FHA|USDA|VA) 6 $1,330,000 $221,667 $2,287 6.81%
MADISON, WI (FHA|USDA|VA) 3 $1,115,000 $371,667 $1,896 7.49%
DULUTH, MN-WI (FHA|USDA|VA) 1 $445,000 $445,000 $1,879 6.88%
GREEN BAY, WI (FHA|USDA|VA) 3 $385,000 $128,333 $1,317 6.75%
EAU CLAIRE, WI (FHA|USDA|VA) 3 $315,000 $105,000 $1,090 7.33%
Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $55,000 $55,000 $2,090 6.88%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.00%
Abbybank's top markets include Wausau, Oshkosh, Shawano, Appleton, and Madison among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against AbbyBank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Forward Bank
    Similarity Rank: 150
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    Similarity Rank: 209
    Peoples State Bank
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    Summit Credit Union
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    Mortgage Research Center, LLC
    Similarity Rank: 1836

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 176 $33,180,000 $188,523 $1,554 6.99%

    For 2023, Abbybank's most frequently originated type of loan was Conventional, with 176 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 99 $24,215,000 $244,596 $2,063 7.02%
    Cash Out Refi 24 $2,710,000 $112,917 $1,143 6.83%
    Refi 21 $3,155,000 $150,238 $1,158 6.90%
    Other 19 $1,065,000 $56,053 $585 7.15%
    Home Improvement 13 $2,035,000 $156,538 $786 7.07%

    For 2023, Abbybank's most frequently cited loan purpose was Home Purchase, with 99 originations. The 2nd most popular reason was Cash Out Refi, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 77 $16,115,000 $209,286 $2,164 6.73%
    15 Year 24 $2,030,000 $84,583 $941 6.88%
    10 Year 22 $1,150,000 $52,273 $731 6.87%
    3 Year 18 $3,510,000 $195,000 $1,874 7.69%
    20 Year 16 $1,380,000 $86,250 $715 7.60%
    Other 14 $8,100,000 $578,571 $1,319 7.02%
    5 Year 3 $535,000 $178,333 $1,650 7.50%
    1 Year 2 $360,000 $180,000 $0 7.95%

    For 2023, Abbybank's most frequently cited loan duration was 30 Year, with 77 originations. The 2nd most popular length was 15 Year, with 24 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 126 $16,800,000 $133,333
    $1k-2k 12 $3,390,000 $282,500
    $2k-3k 4 $920,000 $230,000
    $3k-4k 4 $730,000 $182,500

    Abbybank's average total fees were $2,164, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 126 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 96 $21,980,000 $228,958
    7-8% 53 $7,115,000 $134,245
    Over 8% 15 $1,705,000 $113,667
    5-6% 12 $2,380,000 $198,333

    During 2023, Abbybank's average interest rate for loans was 6.73%, while their most frequently originated rate bucket for loans was 6-7%, with 96 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 68 $3,630,000 $53,382 $828 7.19%
    $100k-200k 58 $8,190,000 $141,207 $1,869 6.85%
    $200k-400k 36 $9,630,000 $267,500 $2,317 6.94%
    $400k-600k 10 $4,540,000 $454,000 $2,113 6.91%
    $1MM+ 2 $5,660,000 $2,830,000 $0 6.55%
    $600k-1MM 2 $1,530,000 $765,000 $0 6.25%

    2023 saw Abbybank place emphasis on $100,000 or less loans with 68 originations, totaling $3,630,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 44 $7,060,000 $160,455 $1,756 7.10%
    $75k-100k 30 $3,530,000 $117,667 $1,270 6.87%
    $50k-75k 28 $3,180,000 $113,571 $1,414 6.91%
    $150k-250k 23 $5,295,000 $230,217 $1,847 6.87%
    $50k or less 23 $2,065,000 $89,783 $1,405 6.86%
    $250k+ 11 $2,415,000 $219,545 $1,639 7.12%

    Abbybank lent most frequently to those with incomes in the $100k-150k range, with 44 originations. The second most popular income band? $75k-100k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 36 $6,400,000 $177,778 $1,696 6.96%
    20-30% 34 $4,690,000 $137,941 $1,467 6.75%
    <20% 22 $2,400,000 $109,091 $1,394 6.70%
    36% 9 $1,115,000 $123,889 $1,757 6.93%
    39% 8 $1,310,000 $163,750 $1,509 6.98%
    42% 7 $1,065,000 $152,143 $1,544 7.32%
    37% 5 $545,000 $109,000 $1,385 7.18%
    50-60% 4 $400,000 $100,000 $1,178 6.56%
    38% 4 $390,000 $97,500 $1,054 7.06%
    44% 4 $430,000 $107,500 $1,947 6.78%
    43% 3 $695,000 $231,667 $1,907 7.04%
    40% 3 $355,000 $118,333 $1,106 7.19%
    41% 3 $805,000 $268,333 $1,182 6.44%
    47% 2 $610,000 $305,000 $2,054 7.63%
    46% 1 $445,000 $445,000 $1,879 6.88%
    48% 1 $155,000 $155,000 $4,772 6.50%

    Abbybank lent most frequently to those with DTI ratios of 30-36%, with 36 originations. The next most common DTI ratio? 20-30%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 151 $22,325,000 $147,848 $1,546 6.95%
    Not applicable 15 $9,175,000 $611,667 $0 7.40%
    Not provided 3 $525,000 $175,000 $2,650 7.00%
    Asian 1 $455,000 $455,000 $1,904 6.88%
    Asian Indian 3 $425,000 $141,667 $0 7.83%
    American Indian 3 $275,000 $91,667 $1,080 6.54%

    Approval Rates

    Total approvals of all applications
    95.24%

    Abbybank 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
    81.25%

    Abbybank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 176 $33,180,000 $188,523

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    176 $33,180,000 $188,523

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 35 $4,135,000 $118,143 $907 6.93%
    40-60% 13 $1,765,000 $135,769 $1,721 6.89%
    60-80% 50 $14,660,000 $293,200 $2,093 6.96%
    80-100% 45 $9,825,000 $218,333 $2,278 6.85%
    Over 100% 1 $255,000 $255,000 $0 7.50%
    Under 20% 32 $2,540,000 $79,375 $483 7.34%