Perennial Bank Mortgage Rates, Fees & Info
Darwin, MNLEI: 254900PTHF2B5Z1PGA51
Tax ID: 41-0250620
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Perennial Bank is a smaller bank specializing in Home Purchase and Refi loans. Perennial Bank has a high proportion of conventional loans. Their top (well, only) market is St. Cloud.Perennial 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
21Origination Dollar Volume (All Markets)
$5,025,000Top 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 | 17 | $4,375,000 | $257,353 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 4 | $650,000 | $162,500 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 21 | $5,025,000 | $239,286 | $0 | 0.00% |
For 2023, Perennial Bank's most frequently originated type of loan was Conventional, with 21 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 11 | $2,585,000 | $235,000 | $0 | 0.00% |
| Refi | 6 | $1,670,000 | $278,333 | $0 | 0.00% |
| Home Improvement | 4 | $770,000 | $192,500 | $0 | 0.00% |
For 2023, Perennial Bank's most frequently cited loan purpose was Home Purchase, with 11 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 21 | $5,025,000 | $239,286 | $0 | 0.00% |
For 2023, Perennial Bank's most frequently cited loan duration was Other, with 21 originations.
Loan Sizing
2023 saw Perennial Bank place emphasis on $100k-200k loans with 8 originations, totaling $1,110,000 in origination value.
Applicant Income
Perennial Bank lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $150k-250k, with 3 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 21 | $5,025,000 | $239,286 | $0 | 0.00% |
Perennial Bank lent most frequently to those with DTI ratios of Exempt%, with 21 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 18 | $4,400,000 | $244,444 | $0 | 0.00% |
| Not applicable | 3 | $625,000 | $208,333 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Perennial 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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 21 | $5,025,000 | $239,286 |