Minnesota National Bank Mortgage Rates, Fees & Info

Sauk Centre, MN

LEI: 254900FKPTR6FQ8IH565

Tax ID: 41-0406600

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
  • 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

    Minnesota National Bank is a smaller bank specializing in Home Purchase loans. Minnesota National Bank has a high proportion of conventional loans. Their top (well, only) market is St. Cloud.

    Minnesota National Bank 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.

    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.

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    Originations

    102

    Origination Dollar Volume (All Markets)

    $18,840,000

    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
    Outside of Metro Areas 64 $12,220,000 $190,938 $0 0.00%
    ST. CLOUD, MN (FHA|USDA|VA) 38 $6,620,000 $174,211 $0 0.00%
    Minnesota National Bank's top markets include and St. Cloud among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 102 $18,840,000 $184,706 $0 0.00%

    For 2023, Minnesota National Bank's most frequently originated type of loan was Conventional, with 102 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 51 $13,565,000 $265,980 $0 0.00%
    Cash Out Refi 18 $1,530,000 $85,000 $0 0.00%
    Other 16 $1,720,000 $107,500 $0 0.00%
    Home Improvement 11 $1,365,000 $124,091 $0 0.00%
    Refi 6 $660,000 $110,000 $0 0.00%

    For 2023, Minnesota National Bank's most frequently cited loan purpose was Home Purchase, with 51 originations. The 2nd most popular reason was Cash Out Refi, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 102 $18,840,000 $184,706 $0 0.00%

    For 2023, Minnesota National Bank's most frequently cited loan duration was Other, with 102 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 37 $2,045,000 $55,270 $0 0.00%
    $100k-200k 36 $4,900,000 $136,111 $0 0.00%
    $200k-400k 23 $6,265,000 $272,391 $0 0.00%
    $1MM+ 2 $3,430,000 $1,715,000 $0 0.00%
    $400k-600k 2 $880,000 $440,000 $0 0.00%
    $600k-1MM 2 $1,320,000 $660,000 $0 0.00%

    2023 saw Minnesota National Bank place emphasis on $100,000 or less loans with 37 originations, totaling $2,045,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 20 $3,790,000 $189,500 $0 0.00%
    $100k-150k 19 $2,875,000 $151,316 $0 0.00%
    $50k-75k 18 $2,040,000 $113,333 $0 0.00%
    $150k-250k 17 $3,985,000 $234,412 $0 0.00%
    $50k or less 8 $720,000 $90,000 $0 0.00%
    $250k+ 3 $635,000 $211,667 $0 0.00%

    Minnesota National Bank lent most frequently to those with incomes in the $75k-100k range, with 20 originations. The second most popular income band? $100k-150k, with 19 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 102 $18,840,000 $184,706 $0 0.00%

    Minnesota National Bank lent most frequently to those with DTI ratios of Exempt%, with 102 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 85 $14,045,000 $165,235 $0 0.00%
    Not applicable 17 $4,795,000 $282,059 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    Minnesota National Bank 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
    98.04%

    Minnesota National Bank 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 102 $18,840,000 $184,706

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    102 $18,840,000 $184,706