Falcon National Bank Mortgage Rates, Fees & Info

Foley, MN

LEI: 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

85

Origination Dollar Volume (All Markets)

$18,745,000

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
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%
Falcon National Bank's top markets include St. Cloud, Minneapolis, Grand Rapids, Duluth, and Brainerd among others.

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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 48 $10,810,000 $225,208 $0 0.00%
    Refi 22 $7,140,000 $324,545 $0 0.00%
    Home Improvement 8 $570,000 $71,250 $0 0.00%
    Other 7 $225,000 $32,143 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 40 $2,180,000 $54,500 $0 0.00%
    $100k-200k 25 $3,465,000 $138,600 $0 0.00%
    $200k-400k 9 $2,335,000 $259,444 $0 0.00%
    $400k-600k 6 $2,960,000 $493,333 $0 0.00%
    $600k-1MM 3 $2,075,000 $691,667 $0 0.00%
    $1MM+ 2 $5,730,000 $2,865,000 $0 0.00%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 16 $1,460,000 $91,250 $0 0.00%
    $150k-250k 12 $1,520,000 $126,667 $0 0.00%
    $250k+ 12 $2,580,000 $215,000 $0 0.00%
    $50k or less 12 $1,190,000 $99,167 $0 0.00%
    $100k-150k 8 $750,000 $93,750 $0 0.00%
    $75k-100k 4 $570,000 $142,500 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 21 $10,675,000 $508,333 $0 0.00%
    White 62 $7,970,000 $128,548 $0 0.00%
    Asian 2 $100,000 $50,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    82.81%

    Falcon National Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    75.29%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $9,245,000 $1,027,222
    Single Family (1-4 Units):Manufactured 8 $460,000 $57,500
    Single Family (1-4 Units):Site-Built 68 $9,040,000 $132,941