Cortrust Bank Mortgage Rates, Fees & Info
Mitchell, SDLEI: 2138004QPZ7FMGPTU106
Tax ID: 46-0159100
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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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, Aberdeen, and Mitchell 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 an above average pick rate when compared to similar lenders.
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Originations
411Origination Dollar Volume (All Markets)
$52,355,000Top 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) | 112 | $18,280,000 | $163,214 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 96 | $13,060,000 | $136,042 | $0 | 0.00% |
| Outside of Metro Areas | 48 | $4,960,000 | $103,333 | $0 | 0.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $3,505,000 | $3,505,000 | $0 | 0.00% |
| Aberdeen, SD (FHA|USDA|VA) | 31 | $2,615,000 | $84,355 | $0 | 0.00% |
| Mitchell, SD (FHA|USDA|VA) | 36 | $2,580,000 | $71,667 | $0 | 0.00% |
| Hutchinson, MN (FHA|USDA|VA) | 33 | $2,575,000 | $78,030 | $0 | 0.00% |
| Yankton, SD (FHA|USDA|VA) | 24 | $1,650,000 | $68,750 | $0 | 0.00% |
| Spearfish, SD (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 0.00% |
| Vermillion, SD (FHA|USDA|VA) | 13 | $755,000 | $58,077 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 4 | $230,000 | $57,500 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Watertown, SD (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 0.00% |
| Brookings, SD (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| MANKATO, MN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| Willmar, MN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| New Ulm, MN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 411 | $52,355,000 | $127,384 | $0 | 0.00% |
For 2024, Cortrust Bank's most frequently originated type of loan was Conventional, with 411 originations.
Loan Reason
For 2024, Cortrust Bank's most frequently cited loan purpose was Refi, with 145 originations. The 2nd most popular reason was Home Improvement, with 126 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 411 | $52,355,000 | $127,384 | $0 | 0.00% |
For 2024, Cortrust Bank's most frequently cited loan duration was Other, with 411 originations.
Loan Sizing
2024 saw Cortrust Bank place emphasis on $100,000 or less loans with 305 originations, totaling $15,875,000 in origination value.
Applicant Income
Cortrust Bank lent most frequently to those with incomes in the $100k-150k range, with 94 originations. The second most popular income band? $150k-250k, with 91 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 411 | $52,355,000 | $127,384 | $0 | 0.00% |
Cortrust Bank lent most frequently to those with DTI ratios of Exempt%, with 411 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.80%
Cortrust Bank has an average approval rate.
Pick Rate
Approvals leading to origination90.02%
Cortrust Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 411 | $52,355,000 | $127,384 |