Is National Exchange Bank a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by National Exchange Bank with other lenders for comparable mortgages. Nationally, here is what we find:
|Interest Rate||similar to average (-0.10%)|
|Loan Related Closing Costs||lower than average (-$269)|
|National Rate and Closing Cost Rating||(4.0)|
On average, National Exchange Bank’s interest rates were similar to those of other lenders (-0.10%) for a comparable set of borrowers. Its average total loan related closing cost was lower than those of other lenders, with a difference of -$269. Overall, combining interest rates and closing costs we estimate that National Exchange Bank tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.0 out of 5.0 stars.
National Exchange Bank’s Rates by Area
Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track National Exchange Bank was most active in:
You can click through to check out National Exchange Bank’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.
National Exchange Bank’s Rates by Mortgage Type
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, National Exchange Bank originated Conforming and USDA mortgages for new home purchases. It also originated Conforming mortgages for refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.
|New Purchase Mortgages||Conforming||USDA|
|Interest Rate Difference||-0.07%||-0.01%|
|Loan Related Closing Cost Difference||-$257||-$25|
|Cost Adjusted Rate Difference||-0.10%||-0.01%|
|Interest Rate Difference||-0.12%|
|Loan Related Closing Cost Difference||-$280|
|Cost Adjusted Rate Difference||-0.16%|
As a summary, National Exchange Bank is cheap for Conforming purchase mortgages. It is similar to other lenders for USDA purchase mortgages. For refinancing mortgages, National Exchange Bank is cheap for Conforming mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.
Other information about National Exchange Bank:
Registered city and state: FOND DU LAC, WI, 54935
Regulator: Office of the Comptroller of the Currency (OCC)
Top holder: NEB CORPORATION
* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for National Exchange Bank’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.