Falcon National Bank Mortgage Rates, Fees & Info
Foley, MNLEI: 254900QRJBX9155TRB79
Tax ID: 54-2109630
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Mortgage Data
Review & Overview
Falcon National Bank is a smaller bank specializing in Home Purchase and Refi loans. Falcon National Bank has a high proportion of conventional loans. Their top markets by origination volume include: St. Cloud, Minneapolis, Grand Rapids, Duluth, and Brainerd among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Falcon National Bank has an 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
85Origination Dollar Volume (All Markets)
$18,745,000Top 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 |
|---|---|---|---|---|---|
| ST. CLOUD, MN (FHA|USDA|VA) | 31 | $6,825,000 | $220,161 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 35 | $5,875,000 | $167,857 | $0 | 0.00% |
| Grand Rapids, MN (FHA|USDA|VA) | 1 | $3,755,000 | $3,755,000 | $0 | 0.00% |
| Outside of Metro Areas | 7 | $1,005,000 | $143,571 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 4 | $560,000 | $140,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 4 | $370,000 | $92,500 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Red Wing, MN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Willmar, MN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 85 | $18,745,000 | $220,529 | $0 | 0.00% |
For 2018, Falcon National Bank's most frequently originated type of loan was Conventional, with 85 originations.
Loan Reason
For 2018, Falcon National Bank's most frequently cited loan purpose was Home Purchase, with 48 originations. The 2nd most popular reason was Refi, with 22 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 85 | $18,745,000 | $220,529 | $0 | 0.00% |
For 2018, Falcon National Bank's most frequently cited loan duration was Other, with 85 originations.
Loan Sizing
2018 saw Falcon National Bank place emphasis on $100,000 or less loans with 40 originations, totaling $2,180,000 in origination value.
Applicant Income
Falcon National Bank lent most frequently to those with incomes in the $50k-75k range, with 16 originations. The second most popular income band? $150k-250k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 85 | $18,745,000 | $220,529 | $0 | 0.00% |
Falcon National Bank lent most frequently to those with DTI ratios of Exempt%, with 85 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.81%
Falcon National Bank has a below average approval rate.
Pick Rate
Approvals leading to origination75.29%
Falcon National Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 85 | $18,745,000 | $220,529 |