First National Bank Minnesota Mortgage Rates, Fees & Info

Mankato, MN

LEI: 254900CPIGHZEFW97Z79

Tax ID: 41-0519725

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

Jump to:

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 National Bank Minnesota is a smaller bank specializing in Home Purchase and Refi loans. First National Bank Minnesota has a high proportion of conventional loans. Their top markets by origination volume include: Mankato, Minneapolis, and Fairmont among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First National Bank Minnesota has an above average approval rate when compared to the average across all lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    41

    Origination Dollar Volume (All Markets)

    $9,355,000

    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
    MANKATO, MN (FHA|USDA|VA) 29 $7,565,000 $260,862 $0 0.00%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 5 $975,000 $195,000 $0 0.00%
    Outside of Metro Areas 6 $610,000 $101,667 $0 0.00%
    Fairmont, MN (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    First National Bank Minnesota's top markets include Mankato, Minneapolis, and Fairmont among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 41 $9,355,000 $228,171 $0 0.00%

    For 2018, First National Bank Minnesota's most frequently originated type of loan was Conventional, with 41 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 18 $4,930,000 $273,889 $0 0.00%
    Refi 9 $2,095,000 $232,778 $0 0.00%
    Cash Out Refi 7 $1,855,000 $265,000 $0 0.00%
    Other 4 $310,000 $77,500 $0 0.00%
    Home Improvement 3 $165,000 $55,000 $0 0.00%

    For 2018, First National Bank Minnesota's most frequently cited loan purpose was Home Purchase, with 18 originations. The 2nd most popular reason was Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 41 $9,355,000 $228,171 $0 0.00%

    For 2018, First National Bank Minnesota's most frequently cited loan duration was Other, with 41 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 15 $825,000 $55,000 $0 0.00%
    $100k-200k 13 $1,815,000 $139,615 $0 0.00%
    $200k-400k 8 $1,880,000 $235,000 $0 0.00%
    $1MM+ 3 $3,665,000 $1,221,667 $0 0.00%
    $400k-600k 1 $405,000 $405,000 $0 0.00%
    $600k-1MM 1 $765,000 $765,000 $0 0.00%

    2018 saw First National Bank Minnesota place emphasis on $100,000 or less loans with 15 originations, totaling $825,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 6 $560,000 $93,333 $0 0.00%
    $100k-150k 5 $565,000 $113,000 $0 0.00%
    $150k-250k 4 $910,000 $227,500 $0 0.00%
    $50k-75k 4 $360,000 $90,000 $0 0.00%
    $250k+ 3 $895,000 $298,333 $0 0.00%
    $50k or less 3 $295,000 $98,333 $0 0.00%

    First National Bank Minnesota lent most frequently to those with incomes in the $75k-100k range, with 6 originations. The second most popular income band? $100k-150k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 41 $9,355,000 $228,171 $0 0.00%

    First National Bank Minnesota lent most frequently to those with DTI ratios of Exempt%, with 41 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 16 $5,770,000 $360,625 $0 0.00%
    White 25 $3,585,000 $143,400 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.62%

    First National Bank Minnesota 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 41 $9,355,000 $228,171

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $3,965,000 $793,000
    Single Family (1-4 Units):Manufactured 1 $165,000 $165,000
    Single Family (1-4 Units):Site-Built 35 $5,225,000 $149,286

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST NATIONAL BANK OF OMAHA Home equity loan or line of credit (HELOC) Closing on a mortgage 1 50.0%
    FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Struggling to pay mortgage 1 50.0%