Security Bank & Trust Company Mortgage Rates, Fees & Info

Waconia, MN

LEI: 254900J2U7OF6AWF3P54

Tax ID: 41-0531690

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

    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 two markets are Minneapolis and Hutchinson .

    Security Bank & Trust Company has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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    Originations

    34

    Origination Dollar Volume (All Markets)

    $5,230,000

    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
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 10 $2,240,000 $224,000 $0 0.00%
    Hutchinson, MN (FHA|USDA|VA) 16 $2,080,000 $130,000 $0 0.00%
    Outside of Metro Areas 8 $910,000 $113,750 $0 0.00%
    Security Bank & Trust Company's top markets include Minneapolis and Hutchinson among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 34 $5,230,000 $153,824 $0 0.00%

    For 2018, Security Bank & Trust Company's most frequently originated type of loan was Conventional, with 34 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 14 $2,330,000 $166,429 $0 0.00%
    Refi 13 $2,205,000 $169,615 $0 0.00%
    Other 4 $430,000 $107,500 $0 0.00%
    Home Improvement 3 $265,000 $88,333 $0 0.00%

    For 2018, Security Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 14 originations. The 2nd most popular reason was Refi, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 34 $5,230,000 $153,824 $0 0.00%

    For 2018, Security Bank & Trust Company's most frequently cited loan duration was Other, with 34 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 13 $775,000 $59,615 $0 0.00%
    $100k-200k 12 $1,570,000 $130,833 $0 0.00%
    $200k-400k 7 $1,775,000 $253,571 $0 0.00%
    $400k-600k 1 $425,000 $425,000 $0 0.00%
    $600k-1MM 1 $685,000 $685,000 $0 0.00%

    2018 saw Security Bank & Trust Company place emphasis on $100,000 or less loans with 13 originations, totaling $775,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 8 $1,220,000 $152,500 $0 0.00%
    $50k or less 8 $660,000 $82,500 $0 0.00%
    $75k-100k 7 $885,000 $126,429 $0 0.00%
    $50k-75k 4 $630,000 $157,500 $0 0.00%
    $150k-250k 3 $625,000 $208,333 $0 0.00%
    $250k+ 1 $135,000 $135,000 $0 0.00%

    Security Bank & Trust Company lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $50k or less, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 34 $5,230,000 $153,824 $0 0.00%

    Security Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 33 $4,545,000 $137,727 $0 0.00%
    Not applicable 1 $685,000 $685,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.35%

    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 origination
    79.41%

    Security Bank & Trust Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 34 $5,230,000 $153,824

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 34 $5,230,000 $153,824

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    SecurityNational Mortgage Company Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%