Cortrust Bank Mortgage Rates, Fees & Info
Mitchell, SDLEI: 2138004QPZ7FMGPTU106
Tax ID: 46-0159100
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Mortgage Data
Review & Overview
Cortrust Bank is a smaller bank specializing in Refi and Home Purchase loans. Cortrust Bank has a high proportion of conventional loans. Their top markets by origination volume include: Sioux Falls, Minneapolis, Port St. Lucie, Hutchinson, and Aberdeen among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)Cortrust 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
462Origination Dollar Volume (All Markets)
$58,210,000Top 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 |
|---|---|---|---|---|---|
| SIOUX FALLS, SD (FHA|USDA|VA) | 123 | $16,375,000 | $133,130 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 98 | $12,100,000 | $123,469 | $0 | 0.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $7,005,000 | $7,005,000 | $0 | 0.00% |
| Outside of Metro Areas | 63 | $5,685,000 | $90,238 | $0 | 0.00% |
| Hutchinson, MN (FHA|USDA|VA) | 48 | $3,390,000 | $70,625 | $0 | 0.00% |
| Aberdeen, SD (FHA|USDA|VA) | 33 | $3,345,000 | $101,364 | $0 | 0.00% |
| Yankton, SD (FHA|USDA|VA) | 18 | $2,810,000 | $156,111 | $0 | 0.00% |
| Mitchell, SD (FHA|USDA|VA) | 47 | $2,765,000 | $58,830 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 2 | $1,040,000 | $520,000 | $0 | 0.00% |
| Vermillion, SD (FHA|USDA|VA) | 15 | $1,015,000 | $67,667 | $0 | 0.00% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $0 | 0.00% |
| RAPID CITY, SD (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $0 | 0.00% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 3 | $195,000 | $65,000 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Huron, SD (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $0 | 0.00% |
| Spearfish, SD (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| Brookings, SD (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 462 | $58,210,000 | $125,996 | $0 | 0.00% |
For 2023, Cortrust Bank's most frequently originated type of loan was Conventional, with 462 originations.
Loan Reason
For 2023, Cortrust Bank's most frequently cited loan purpose was Home Improvement, with 155 originations. The 2nd most popular reason was Refi, with 144 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 462 | $58,210,000 | $125,996 | $0 | 0.00% |
For 2023, Cortrust Bank's most frequently cited loan duration was Other, with 462 originations.
Loan Sizing
2023 saw Cortrust Bank place emphasis on $100,000 or less loans with 341 originations, totaling $16,735,000 in origination value.
Applicant Income
Cortrust Bank lent most frequently to those with incomes in the $100k-150k range, with 99 originations. The second most popular income band? $150k-250k, with 78 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 462 | $58,210,000 | $125,996 | $0 | 0.00% |
Cortrust Bank lent most frequently to those with DTI ratios of Exempt%, with 462 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.95%
Cortrust Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.96%
Cortrust Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 462 | $58,210,000 | $125,996 |