Blackhawk Bank Mortgage Rates, Fees & Info

Beloit, WI

LEI: OTQ7L99FG3H1GQVQBT56

Tax ID: 39-0159130

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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

    Blackhawk Bank is a smaller bank specializing in Home Purchase loans. Blackhawk Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Rockford, Chicago, Janesville, Rochelle, and Naples among others. We have data for 31 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Blackhawk Bank 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. Blackhawk 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    1,049

    Origination Dollar Volume (All Markets)

    $170,645,000

    Awards

    Blackhawk Bank FHA Loans silver
    Show all (1) 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
    ROCKFORD, IL (FHA|USDA|VA) 766 $107,950,000 $140,927 $3,775 5.30%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 65 $21,745,000 $334,538 $4,357 4.82%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 133 $19,515,000 $146,729 $2,765 5.31%
    Rochelle, IL (FHA|USDA|VA) 28 $4,720,000 $168,571 $4,140 5.47%
    Outside of Metro Areas 14 $4,540,000 $324,286 $4,129 5.20%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $2,255,000 $751,667 $6,300 4.80%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $1,615,000 $1,615,000 $0 4.85%
    MADISON, WI (FHA|USDA|VA) 4 $1,310,000 $327,500 $3,439 4.73%
    Freeport, IL (FHA|USDA|VA) 7 $825,000 $117,857 $3,816 5.41%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $750,000 $375,000 $0 4.66%
    Winona, MN (FHA|USDA|VA) 1 $735,000 $735,000 $0 4.71%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $435,000 $435,000 $0 3.95%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $395,000 $395,000 $0 6.60%
    Whitewater, WI (FHA|USDA|VA) 5 $385,000 $77,000 $2,958 4.02%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $355,000 $355,000 $5,009 5.03%
    CLEVELAND, TN (FHA|USDA|VA) 1 $345,000 $345,000 $3,367 6.40%
    TOLEDO, OH (FHA|USDA|VA) 1 $335,000 $335,000 $5,525 6.38%
    GREEN BAY, WI (FHA|USDA|VA) 1 $325,000 $325,000 $4,514 6.48%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $235,000 $235,000 $3,131 3.60%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $215,000 $215,000 $0 4.50%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $215,000 $215,000 $2,397 4.08%
    MONROE, MI (FHA|USDA|VA) 1 $205,000 $205,000 $2,758 6.03%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $205,000 $205,000 $4,258 6.63%
    Stevens Point, WI (FHA|USDA|VA) 1 $185,000 $185,000 $3,183 3.58%
    Edwards, CO (FHA|USDA|VA) 1 $165,000 $165,000 $0 6.50%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $160,000 $80,000 $0 6.69%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $125,000 $125,000 $2,629 4.40%
    MUSKEGON, MI (FHA|USDA|VA) 1 $115,000 $115,000 $2,391 5.53%
    Dixon, IL (FHA|USDA|VA) 1 $115,000 $115,000 $3,057 5.88%
    RACINE, WI (FHA|USDA|VA) 1 $95,000 $95,000 $0 7.90%
    Baraboo, WI (FHA|USDA|VA) 1 $75,000 $75,000 $3,708 4.90%
    Blackhawk Bank's top markets include Rockford, Chicago, Janesville, Rochelle, and Naples among others.

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

    • Similar Lenders

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

    First Savings Bank of Hegewisch
    Similarity Rank: 64
    State Bank of Cross Plains
    Similarity Rank: 90
    Rock Valley Credit Union
    Similarity Rank: 91
    Central Bank Illinois
    Similarity Rank: 116
    Liberty Bank for Savings
    Similarity Rank: 116
    FINANCIAL PLUS
    Similarity Rank: 198
    Bank of Sun Prairie
    Similarity Rank: 270
    First Community Credit Union
    Similarity Rank: 360
    Stillman Bank
    Similarity Rank: 434
    WISCONSIN MORTGAGE CORPORATION
    Similarity Rank: 544

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 742 $130,840,000 $176,334 $3,362 5.57%
    HELOC 246 $30,390,000 $123,537 n/a 4.40%
    FHA 50 $6,870,000 $137,400 $6,955 5.01%
    VA 11 $2,545,000 $231,364 $8,559 5.50%

    For 2022, Blackhawk Bank's most frequently originated type of loan was Conventional, with 742 originations. Their 2nd most popular type was HELOC, with 246 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 600 $101,820,000 $169,700 $4,184 5.55%
    Other 145 $10,775,000 $74,310 $622 4.77%
    Cash Out Refi 131 $22,415,000 $171,107 $2,452 5.06%
    Home Improvement 89 $5,855,000 $65,787 $1,712 4.96%
    Refi 84 $29,780,000 $354,524 $2,680 4.76%

    For 2022, Blackhawk Bank's most frequently cited loan purpose was Home Purchase, with 600 originations. The 2nd most popular reason was Other, with 145 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 594 $101,150,000 $170,286 $4,085 5.58%
    10 Year 284 $42,580,000 $149,930 $794 4.72%
    15 Year 105 $14,755,000 $140,524 $2,921 4.76%
    5 Year 40 $7,900,000 $197,500 $584 6.09%
    20 Year 11 $1,665,000 $151,364 $2,533 4.79%
    Other 10 $1,620,000 $162,000 $299 5.53%
    1 Year 5 $975,000 $195,000 $0 5.10%

    For 2022, Blackhawk Bank's most frequently cited loan duration was 30 Year, with 594 originations. The 2nd most popular length was 10 Year, with 284 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 380 $61,990,000 $163,132
    $2k-3k 151 $23,305,000 $154,338
    $<1k 136 $17,140,000 $126,029
    $3k-4k 31 $6,695,000 $215,968
    $5k+ 8 $2,910,000 $363,750
    $4k-5k 7 $1,505,000 $215,000

    Blackhawk Bank's average total fees were $4,085, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 380 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 297 $46,495,000 $156,549
    6-7% 247 $33,235,000 $134,555
    3-4% 195 $42,925,000 $220,128
    4-5% 168 $28,410,000 $169,107
    7-8% 72 $10,880,000 $151,111
    2.5-3% 58 $8,350,000 $143,966
    Over 8% 12 $350,000 $29,167

    During 2022, Blackhawk Bank's average interest rate for loans was 5.58%, while their most frequently originated rate bucket for loans was 5-6%, with 297 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 431 $60,915,000 $141,334 $3,900 5.28%
    $100,000 or less 395 $21,605,000 $54,696 $2,728 5.24%
    $200k-400k 189 $50,165,000 $265,423 $4,236 5.40%
    $400k-600k 20 $9,030,000 $451,500 $5,167 5.09%
    $1MM+ 8 $24,710,000 $3,088,750 $4,256 4.26%
    $600k-1MM 6 $4,220,000 $703,333 $4,896 5.02%

    2022 saw Blackhawk Bank place emphasis on $100k-200k loans with 431 originations, totaling $60,915,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 250 $29,360,000 $117,440 $3,761 5.35%
    $50k or less 220 $21,960,000 $99,818 $3,739 5.35%
    $100k-150k 210 $32,710,000 $155,762 $3,640 5.16%
    $75k-100k 182 $23,290,000 $127,967 $3,615 5.31%
    $150k-250k 112 $22,920,000 $204,643 $3,538 5.18%
    $250k+ 26 $9,060,000 $348,462 $4,115 4.50%

    Blackhawk Bank lent most frequently to those with incomes in the $50k-75k range, with 250 originations. The second most popular income band? $50k or less, with 220 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 232 $26,230,000 $113,060 $3,259 5.00%
    30-36% 203 $26,325,000 $129,680 $3,339 5.33%
    <20% 89 $10,345,000 $116,236 $3,032 4.90%
    36% 50 $7,440,000 $148,800 $3,989 5.14%
    41% 47 $7,005,000 $149,043 $4,045 5.44%
    37% 44 $5,520,000 $125,455 $3,703 5.30%
    40% 41 $7,165,000 $174,756 $4,312 5.00%
    38% 37 $5,925,000 $160,135 $4,348 5.51%
    44% 37 $6,215,000 $167,973 $4,034 5.67%
    39% 36 $3,660,000 $101,667 $3,195 5.42%
    42% 34 $5,840,000 $171,765 $4,636 5.60%
    43% 32 $5,620,000 $175,625 $4,408 5.61%
    48% 26 $4,750,000 $182,692 $3,779 5.34%
    45% 23 $3,915,000 $170,217 $4,367 5.66%
    49% 20 $4,070,000 $203,500 $4,202 5.49%
    47% 19 $3,125,000 $164,474 $3,726 5.64%
    46% 18 $2,720,000 $151,111 $4,112 5.80%
    50-60% 3 $645,000 $215,000 $5,724 4.88%

    Blackhawk Bank lent most frequently to those with DTI ratios of 20-30%, with 232 originations. The next most common DTI ratio? 30-36%, with 203 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 885 $126,105,000 $142,492 $3,660 5.27%
    Not applicable 43 $30,315,000 $705,000 $0 5.40%
    Not provided 57 $5,915,000 $103,772 $3,613 4.91%
    Black 35 $4,455,000 $127,286 $4,163 5.38%
    Asian 22 $3,030,000 $137,727 $4,036 5.57%
    American Indian 7 $825,000 $117,857 $4,239 5.27%

    Approval Rates

    Total approvals of all applications
    89.78%

    Blackhawk Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.22%

    Blackhawk Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,049 $170,645,000 $162,674

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,049 $170,645,000 $162,674

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 115 $9,205,000 $80,043 $2,082 4.84%
    40-60% 106 $15,080,000 $142,264 $2,633 4.97%
    60-80% 264 $65,710,000 $248,902 $3,578 5.27%
    80-100% 425 $75,035,000 $176,553 $4,288 5.49%
    Over 100% 1 $195,000 $195,000 $0 3.50%
    Under 20% 138 $5,420,000 $39,275 $709 5.19%