Minnesota National Bank Mortgage Rates, Fees & Info
Sauk Centre, MNLEI: 254900FKPTR6FQ8IH565
Tax ID: 41-0406600
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Minnesota National Bank is a smaller bank specializing in Home Purchase and Cash Out Refi 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.
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Originations
131Origination Dollar Volume (All Markets)
$24,785,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 100 | $20,520,000 | $205,200 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 31 | $4,265,000 | $137,581 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 131 | $24,785,000 | $189,198 | $0 | 0.00% |
For 2022, Minnesota National Bank's most frequently originated type of loan was Conventional, with 131 originations.
Loan Reason
For 2022, Minnesota National Bank's most frequently cited loan purpose was Home Purchase, with 72 originations. The 2nd most popular reason was Cash Out Refi, with 41 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 131 | $24,785,000 | $189,198 | $0 | 0.00% |
For 2022, Minnesota National Bank's most frequently cited loan duration was Other, with 131 originations.
Loan Sizing
2022 saw Minnesota National Bank place emphasis on $100,000 or less loans with 46 originations, totaling $2,600,000 in origination value.
Applicant Income
Minnesota National Bank lent most frequently to those with incomes in the $100k-150k range, with 32 originations. The second most popular income band? $50k or less, with 25 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 131 | $24,785,000 | $189,198 | $0 | 0.00% |
Minnesota National Bank lent most frequently to those with DTI ratios of Exempt%, with 131 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.25%
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 origination99.24%
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 | 131 | $24,785,000 | $189,198 |