Cortrust Bank Mortgage Rates, Fees & Info
Mitchell, SDLEI: 2138004QPZ7FMGPTU106
Tax ID: 46-0159100
Latest/2023 | 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, Mason City, 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
562Origination Dollar Volume (All Markets)
$87,110,000Top 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) | 148 | $33,270,000 | $224,797 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 147 | $17,955,000 | $122,143 | $0 | 0.00% |
| Mason City, IA (FHA|USDA|VA) | 1 | $9,975,000 | $9,975,000 | $0 | 0.00% |
| Aberdeen, SD (FHA|USDA|VA) | 53 | $7,935,000 | $149,717 | $0 | 0.00% |
| Outside of Metro Areas | 78 | $7,350,000 | $94,231 | $0 | 0.00% |
| Mitchell, SD (FHA|USDA|VA) | 36 | $2,850,000 | $79,167 | $0 | 0.00% |
| Hutchinson, MN (FHA|USDA|VA) | 51 | $2,545,000 | $49,902 | $0 | 0.00% |
| Yankton, SD (FHA|USDA|VA) | 23 | $1,765,000 | $76,739 | $0 | 0.00% |
| Vermillion, SD (FHA|USDA|VA) | 9 | $1,255,000 | $139,444 | $0 | 0.00% |
| Hilo, HI (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 3 | $225,000 | $75,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 0.00% |
| MANKATO, MN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Brookings, SD (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| RAPID CITY, SD (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
| North Platte, NE (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 562 | $87,110,000 | $155,000 | $0 | 0.00% |
For 2022, Cortrust Bank's most frequently originated type of loan was Conventional, with 562 originations.
Loan Reason
For 2022, Cortrust Bank's most frequently cited loan purpose was Home Improvement, with 199 originations. The 2nd most popular reason was Refi, with 165 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 562 | $87,110,000 | $155,000 | $0 | 0.00% |
For 2022, Cortrust Bank's most frequently cited loan duration was Other, with 562 originations.
Loan Sizing
2022 saw Cortrust Bank place emphasis on $100,000 or less loans with 385 originations, totaling $18,255,000 in origination value.
Applicant Income
Cortrust Bank lent most frequently to those with incomes in the $100k-150k range, with 134 originations. The second most popular income band? $150k-250k, with 97 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 562 | $87,110,000 | $155,000 | $0 | 0.00% |
Cortrust Bank lent most frequently to those with DTI ratios of Exempt%, with 562 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.73%
Cortrust Bank has an average approval rate.
Pick Rate
Approvals leading to origination93.95%
Cortrust Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 562 | $87,110,000 | $155,000 |