First State Bank Of Le Center Mortgage Rates, Fees & Info
Le Center, MNLEI: 2549007Q0B6XK1XTYG16
Tax ID: 41-0257460
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
First State Bank Of Le Center is a smaller bank specializing in Home Purchase and Cash Out Refi loans. First State Bank Of Le Center has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Fergus Falls, Hutchinson, Duluth, and Mankato among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)First State Bank Of Le Center has an above average approval rate when compared to the average across all lenders.
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Originations
55Origination Dollar Volume (All Markets)
$5,915,000Top 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 34 | $3,410,000 | $100,294 | $0 | 0.00% |
| Outside of Metro Areas | 15 | $1,555,000 | $103,667 | $0 | 0.00% |
| Fergus Falls, MN (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| Hutchinson, MN (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| MANKATO, MN (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 55 | $5,915,000 | $107,545 | $0 | 0.00% |
For 2023, First State Bank Of Le Center's most frequently originated type of loan was Conventional, with 55 originations.
Loan Reason
For 2023, First State Bank Of Le Center's most frequently cited loan purpose was Home Purchase, with 22 originations. The 2nd most popular reason was Cash Out Refi, with 16 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 55 | $5,915,000 | $107,545 | $0 | 0.00% |
For 2023, First State Bank Of Le Center's most frequently cited loan duration was Other, with 55 originations.
Loan Sizing
2023 saw First State Bank Of Le Center place emphasis on $100,000 or less loans with 36 originations, totaling $1,910,000 in origination value.
Applicant Income
First State Bank Of Le Center lent most frequently to those with incomes in the $50k-75k range, with 19 originations. The second most popular income band? $75k-100k, with 13 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 55 | $5,915,000 | $107,545 | $0 | 0.00% |
First State Bank Of Le Center lent most frequently to those with DTI ratios of Exempt%, with 55 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 52 | $5,690,000 | $109,423 | $0 | 0.00% |
| Not applicable | 3 | $225,000 | $75,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
First State Bank Of Le Center has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 55 | $5,915,000 | $107,545 |