Blackhawk Bank Mortgage Rates, Fees & Info
Beloit, WILEI: OTQ7L99FG3H1GQVQBT56
Tax ID: 39-0159130
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Mortgage Data
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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.18% | 4/28/24 |
| 30 Year Conventional Refi | 6.96% | 4/28/24 |
| 30 Year Cash-out Refi | 7.21% | 4/28/24 |
| 30 Year FHA Purchase | 7.60% | 4/28/24 |
| 30 Year FHA Refi | 6.27% | 4/28/24 |
| 30 Year VA Purchase | 6.79% | 4/28/24 |
| 30 Year VA Refi | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 6.72% | 4/28/24 |
| 15 Year Conventional Refi | 6.40% | 4/28/24 |
| 15 Year Cash-out Refi | 6.40% | 4/28/24 |
| 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. | ||
Blackhawk Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from Blackhawk 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.
Originations
1,049Origination Dollar Volume (All Markets)
$170,645,000Awards
Blackhawk Bank - 2022
Blackhawk Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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% |
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.
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Product Mix
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
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
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
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
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
2022 saw Blackhawk Bank place emphasis on $100k-200k loans with 431 originations, totaling $60,915,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications89.78%
Blackhawk Bank has an average approval rate.
Pick Rate
Approvals leading to origination77.22%
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 |