Northern State Bank Of Virginia Mortgage Rates, Fees & Info
Virginia, MNLEI: 254900FKD0CVFUC78457
Tax ID: 41-0905107
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Mortgage Data
Review & Overview
Northern State Bank Of Virginia is a smaller bank specializing in Home Purchase loans. Northern State Bank Of Virginia has a high proportion of conventional loans. Their top markets by origination volume include: Duluth, Brainerd, and Grand Rapids among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Northern State Bank Of Virginia 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
34Origination Dollar Volume (All Markets)
$3,790,000Top 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 |
|---|---|---|---|---|---|
| DULUTH, MN-WI (FHA|USDA|VA) | 31 | $3,105,000 | $100,161 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 0.00% |
| Grand Rapids, MN (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 34 | $3,790,000 | $111,471 | $0 | 0.00% |
For 2018, Northern State Bank Of Virginia's most frequently originated type of loan was Conventional, with 34 originations.
Loan Reason
For 2018, Northern State Bank Of Virginia's most frequently cited loan purpose was Home Purchase, with 19 originations. The 2nd most popular reason was Cash Out Refi, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 34 | $3,790,000 | $111,471 | $0 | 0.00% |
For 2018, Northern State Bank Of Virginia's most frequently cited loan duration was Other, with 34 originations.
Loan Sizing
2018 saw Northern State Bank Of Virginia place emphasis on $100,000 or less loans with 24 originations, totaling $1,360,000 in origination value.
Applicant Income
Northern State Bank Of Virginia lent most frequently to those with incomes in the $50k-75k range, with 13 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% | 34 | $3,790,000 | $111,471 | $0 | 0.00% |
Northern State Bank Of Virginia lent most frequently to those with DTI ratios of Exempt%, with 34 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 32 | $3,660,000 | $114,375 | $0 | 0.00% |
| Not provided | 2 | $130,000 | $65,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications97.22%
Northern State Bank Of Virginia has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination97.06%
Northern State Bank Of Virginia has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 34 | $3,790,000 | $111,471 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $145,000 | $145,000 |
| Single Family (1-4 Units):Site-Built | 33 | $3,645,000 | $110,455 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Northern Trust Company, The | Conventional home mortgage | Trouble during payment process | 2 | 66.7% |
| Northern Trust Company, The | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |