Security Bank & Trust Company Mortgage Rates, Fees & Info
Waconia, MNLEI: 254900J2U7OF6AWF3P54
Tax ID: 41-0531690
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Mortgage Data
Review & Overview
Security Bank & Trust Company is a smaller bank specializing in Home Purchase and Refi loans. Security Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Hutchinson, Minneapolis, St. Cloud, Willmar, and Fergus Falls among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Security Bank & Trust Company 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
50Origination Dollar Volume (All Markets)
$8,250,000Top 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 |
|---|---|---|---|---|---|
| Hutchinson, MN (FHA|USDA|VA) | 20 | $3,430,000 | $171,500 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 17 | $3,035,000 | $178,529 | $0 | 0.00% |
| Outside of Metro Areas | 9 | $915,000 | $101,667 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $0 | 0.00% |
| Willmar, MN (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| Fergus Falls, MN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 50 | $8,250,000 | $165,000 | $0 | 0.00% |
For 2023, Security Bank & Trust Company's most frequently originated type of loan was Conventional, with 50 originations.
Loan Reason
For 2023, Security Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Refi, with 15 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 50 | $8,250,000 | $165,000 | $0 | 0.00% |
For 2023, Security Bank & Trust Company's most frequently cited loan duration was Other, with 50 originations.
Loan Sizing
2023 saw Security Bank & Trust Company place emphasis on $100k-200k loans with 20 originations, totaling $2,760,000 in origination value.
Applicant Income
Security Bank & Trust Company lent most frequently to those with incomes in the $75k-100k range, with 10 originations. The second most popular income band? $100k-150k, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 50 | $8,250,000 | $165,000 | $0 | 0.00% |
Security Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 50 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 39 | $6,245,000 | $160,128 | $0 | 0.00% |
| Not applicable | 11 | $2,005,000 | $182,273 | $0 | 0.00% |
Approval Rates
Total approvals of all applications96.43%
Security Bank & Trust Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination92.00%
Security Bank & Trust Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 50 | $8,250,000 | $165,000 |