Northern State Bank Of Virginia Mortgage Rates, Fees & Info

Virginia, MN

LEI: 254900FKD0CVFUC78457

Tax ID: 41-0905107

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

    Northern State Bank Of Virginia is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Northern State Bank Of Virginia has a high proportion of conventional loans. Their top two markets are Duluth and Grand Rapids .

    Northern State Bank Of Virginia has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.

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    Originations

    23

    Origination Dollar Volume (All Markets)

    $1,825,000

    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
    DULUTH, MN-WI (FHA|USDA|VA) 21 $1,605,000 $76,429 $0 0.00%
    Grand Rapids, MN (FHA|USDA|VA) 2 $220,000 $110,000 $0 0.00%
    Northern State Bank Of Virginia's top markets include Duluth and Grand Rapids among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 23 $1,825,000 $79,348 $0 0.00%

    For 2019, Northern State Bank Of Virginia's most frequently originated type of loan was Conventional, with 23 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 12 $1,060,000 $88,333 $0 0.00%
    Cash Out Refi 6 $520,000 $86,667 $0 0.00%
    Other 2 $80,000 $40,000 $0 0.00%
    Refi 2 $140,000 $70,000 $0 0.00%
    Home Improvement 1 $25,000 $25,000 $0 0.00%

    For 2019, Northern State Bank Of Virginia's most frequently cited loan purpose was Home Purchase, with 12 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 23 $1,825,000 $79,348 $0 0.00%

    For 2019, Northern State Bank Of Virginia's most frequently cited loan duration was Other, with 23 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 18 $1,160,000 $64,444 $0 0.00%
    $100k-200k 5 $665,000 $133,000 $0 0.00%

    2019 saw Northern State Bank Of Virginia place emphasis on $100,000 or less loans with 18 originations, totaling $1,160,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 8 $590,000 $73,750 $0 0.00%
    $150k-250k 4 $350,000 $87,500 $0 0.00%
    $100k-150k 3 $215,000 $71,667 $0 0.00%
    $50k-75k 3 $275,000 $91,667 $0 0.00%
    $75k-100k 3 $265,000 $88,333 $0 0.00%

    Northern State Bank Of Virginia lent most frequently to those with incomes in the $50k or less range, with 8 originations. The second most popular income band? $150k-250k, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 23 $1,825,000 $79,348 $0 0.00%

    Northern State Bank Of Virginia lent most frequently to those with DTI ratios of Exempt%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 20 $1,570,000 $78,500 $0 0.00%
    Not applicable 2 $130,000 $65,000 $0 0.00%
    Not provided 1 $125,000 $125,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.29%

    Northern State Bank Of Virginia has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.30%

    Northern State Bank Of Virginia has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 23 $1,825,000 $79,348

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $145,000 $145,000
    Single Family (1-4 Units):Manufactured 2 $150,000 $75,000
    Single Family (1-4 Units):Site-Built 20 $1,530,000 $76,500

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Northern Trust Company, The Conventional home mortgage Trouble during payment process 2 50.0%
    Northern Trust Company, The Other type of mortgage Improper use of your report 1 25.0%
    Northern Trust Company, The VA mortgage Struggling to pay mortgage 1 25.0%