First State Bank Of Le Center Mortgage Rates, Fees & Info

Le Center, MN

LEI: 2549007Q0B6XK1XTYG16

Tax ID: 41-0257460

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    First State Bank Of Le Center is a smaller bank specializing in Home Purchase and 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, Mankato, Owatonna, and Faribault 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

    45

    Origination Dollar Volume (All Markets)

    $4,355,000

    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
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 21 $2,005,000 $95,476 $0 0.00%
    Outside of Metro Areas 18 $1,540,000 $85,556 $0 0.00%
    Fergus Falls, MN (FHA|USDA|VA) 3 $465,000 $155,000 $0 0.00%
    MANKATO, MN (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    Owatonna, MN (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    Faribault-Northfield, MN (FHA|USDA|VA) 1 $15,000 $15,000 $0 0.00%
    First State Bank Of Le Center's top markets include Minneapolis, Fergus Falls, Mankato, Owatonna, and Faribault among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 45 $4,355,000 $96,778 $0 0.00%

    For 2018, First State Bank Of Le Center's most frequently originated type of loan was Conventional, with 45 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 13 $2,165,000 $166,538 $0 0.00%
    Cash Out Refi 11 $655,000 $59,545 $0 0.00%
    Refi 8 $1,090,000 $136,250 $0 0.00%
    Home Improvement 7 $275,000 $39,286 $0 0.00%
    Other 6 $170,000 $28,333 $0 0.00%

    For 2018, First State Bank Of Le Center's most frequently cited loan purpose was Home Purchase, with 13 originations. The 2nd most popular reason was Cash Out Refi, with 11 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 45 $4,355,000 $96,778 $0 0.00%

    For 2018, First State Bank Of Le Center's most frequently cited loan duration was Other, with 45 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 27 $1,025,000 $37,963 $0 0.00%
    $100k-200k 11 $1,625,000 $147,727 $0 0.00%
    $200k-400k 7 $1,705,000 $243,571 $0 0.00%

    2018 saw First State Bank Of Le Center place emphasis on $100,000 or less loans with 27 originations, totaling $1,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 13 $1,335,000 $102,692 $0 0.00%
    $50k-75k 10 $1,090,000 $109,000 $0 0.00%
    $50k or less 9 $475,000 $52,778 $0 0.00%
    $100k-150k 8 $940,000 $117,500 $0 0.00%
    $150k-250k 5 $515,000 $103,000 $0 0.00%

    First State Bank Of Le Center lent most frequently to those with incomes in the $75k-100k range, with 13 originations. The second most popular income band? $50k-75k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 45 $4,355,000 $96,778 $0 0.00%

    First State Bank Of Le Center lent most frequently to those with DTI ratios of Exempt%, with 45 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 44 $4,130,000 $93,864 $0 0.00%
    Asian 1 $225,000 $225,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    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 origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 45 $4,355,000 $96,778

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $295,000 $59,000
    Single Family (1-4 Units):Site-Built 40 $4,060,000 $101,500

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST INTERSTATE BANCSYSTEM, INC. Other type of mortgage Trouble during payment process 1 100.0%