Minnesota National Bank Mortgage Rates, Fees & Info

Sauk Centre, MN

LEI: 254900FKPTR6FQ8IH565

Tax ID: 41-0406600

Latest/2024 | 2023 Data | 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.

    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

    113

    Origination Dollar Volume (All Markets)

    $25,285,000

    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 71 $16,735,000 $235,704 $0 0.00%
    ST. CLOUD, MN (FHA|USDA|VA) 42 $8,550,000 $203,571 $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 113 $25,285,000 $223,761 $0 0.00%

    For 2024, Minnesota National Bank's most frequently originated type of loan was Conventional, with 113 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 59 $18,475,000 $313,136 $0 0.00%
    Other 19 $2,365,000 $124,474 $0 0.00%
    Cash Out Refi 15 $2,095,000 $139,667 $0 0.00%
    Home Improvement 11 $1,025,000 $93,182 $0 0.00%
    Refi 9 $1,325,000 $147,222 $0 0.00%

    For 2024, Minnesota National Bank's most frequently cited loan purpose was Home Purchase, with 59 originations. The 2nd most popular reason was Other, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 113 $25,285,000 $223,761 $0 0.00%

    For 2024, Minnesota National Bank's most frequently cited loan duration was Other, with 113 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 40 $2,010,000 $50,250 $0 0.00%
    $200k-400k 34 $9,770,000 $287,353 $0 0.00%
    $100k-200k 27 $4,085,000 $151,296 $0 0.00%
    $400k-600k 7 $3,195,000 $456,429 $0 0.00%
    $1MM+ 3 $4,805,000 $1,601,667 $0 0.00%
    $600k-1MM 2 $1,420,000 $710,000 $0 0.00%

    2024 saw Minnesota National Bank place emphasis on $100,000 or less loans with 40 originations, totaling $2,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 31 $6,555,000 $211,452 $0 0.00%
    $75k-100k 17 $2,565,000 $150,882 $0 0.00%
    $50k-75k 16 $1,590,000 $99,375 $0 0.00%
    $150k-250k 11 $2,975,000 $270,455 $0 0.00%
    $250k+ 10 $5,700,000 $570,000 $0 0.00%
    $50k or less 7 $455,000 $65,000 $0 0.00%

    Minnesota National Bank lent most frequently to those with incomes in the $100k-150k range, with 31 originations. The second most popular income band? $75k-100k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 113 $25,285,000 $223,761 $0 0.00%

    Minnesota National Bank lent most frequently to those with DTI ratios of Exempt%, with 113 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 92 $19,960,000 $216,957 $0 0.00%
    Not applicable 20 $5,300,000 $265,000 $0 0.00%
    American Indian 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.58%

    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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 113 $25,285,000 $223,761

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    113 $25,285,000 $223,761