867 Mortgage Rates, Fees & Info

Fosston, MN

LEI: 25490052LT8QG1RXJ172

Tax ID: 41-0250590

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Mortgage Data

Review & Overview

867 is a smaller mortgage company specializing in Home Purchase and Refi loans. 867 has a high proportion of conventional loans. Their top (well, only) market is Grand Forks.

867 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

51

Origination Dollar Volume (All Markets)

$7,215,000

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
Outside of Metro Areas 26 $4,970,000 $191,154 $0 0.00%
GRAND FORKS, ND-MN (FHA|USDA|VA) 25 $2,245,000 $89,800 $0 0.00%
867's top markets include and Grand Forks among others.

Their top states include:
  • (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 51 $7,215,000 $141,471 $0 0.00%

    For 2018, 867's most frequently originated type of loan was Conventional, with 51 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 25 $3,975,000 $159,000 $0 0.00%
    Refi 15 $2,855,000 $190,333 $0 0.00%
    Home Improvement 6 $200,000 $33,333 $0 0.00%
    Other 5 $185,000 $37,000 $0 0.00%

    For 2018, 867's most frequently cited loan purpose was Home Purchase, with 25 originations. The 2nd most popular reason was Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 51 $7,215,000 $141,471 $0 0.00%

    For 2018, 867's most frequently cited loan duration was Other, with 51 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 33 $1,425,000 $43,182 $0 0.00%
    $100k-200k 8 $1,000,000 $125,000 $0 0.00%
    $200k-400k 7 $1,655,000 $236,429 $0 0.00%
    $1MM+ 2 $2,160,000 $1,080,000 $0 0.00%
    $600k-1MM 1 $975,000 $975,000 $0 0.00%

    2018 saw 867 place emphasis on $100,000 or less loans with 33 originations, totaling $1,425,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 16 $880,000 $55,000 $0 0.00%
    $100k-150k 10 $1,030,000 $103,000 $0 0.00%
    $50k-75k 8 $710,000 $88,750 $0 0.00%
    $150k-250k 5 $365,000 $73,000 $0 0.00%
    $75k-100k 5 $385,000 $77,000 $0 0.00%
    $250k+ 1 $135,000 $135,000 $0 0.00%

    867 lent most frequently to those with incomes in the $50k or less range, with 16 originations. The second most popular income band? $100k-150k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 51 $7,215,000 $141,471 $0 0.00%

    867 lent most frequently to those with DTI ratios of Exempt%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 6 $3,710,000 $618,333 $0 0.00%
    White 45 $3,505,000 $77,889 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.22%

    867 has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.16%

    867 has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 51 $7,215,000 $141,471

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $3,240,000 $810,000
    Single Family (1-4 Units):Manufactured 10 $630,000 $63,000
    Single Family (1-4 Units):Site-Built 37 $3,345,000 $90,405