Flagship Banks Minnesota Mortgage Rates, Fees & Info

Isanti, MN

LEI: 254900U0IGWRT4P7YI03

Tax ID: 41-0538070

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Mortgage Data

Review & Overview

Flagship Banks Minnesota is a smaller bank specializing in Home Purchase loans. Flagship Banks Minnesota has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Fargo, Hutchinson, St. Cloud, and Duluth among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Flagship Banks Minnesota 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

105

Origination Dollar Volume (All Markets)

$43,225,000

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) 89 $40,425,000 $454,213 $0 0.00%
FARGO, ND-MN (FHA|USDA|VA) 1 $885,000 $885,000 $0 0.00%
Hutchinson, MN (FHA|USDA|VA) 5 $725,000 $145,000 $0 0.00%
Outside of Metro Areas 4 $380,000 $95,000 $0 0.00%
ST. CLOUD, MN (FHA|USDA|VA) 3 $315,000 $105,000 $0 0.00%
DULUTH, MN-WI (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Willmar, MN (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
Fairmont, MN (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
Flagship Banks Minnesota's top markets include Minneapolis, Fargo, Hutchinson, St. Cloud, and Duluth among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 105 $43,225,000 $411,667 $0 0.00%

    For 2023, Flagship Banks Minnesota's most frequently originated type of loan was Conventional, with 105 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 80 $36,470,000 $455,875 $0 0.00%
    Refi 17 $5,715,000 $336,176 $0 0.00%
    Home Improvement 3 $255,000 $85,000 $0 0.00%
    Other 3 $395,000 $131,667 $0 0.00%
    Cash Out Refi 2 $390,000 $195,000 $0 0.00%

    For 2023, Flagship Banks Minnesota's most frequently cited loan purpose was Home Purchase, with 80 originations. The 2nd most popular reason was Refi, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 105 $43,225,000 $411,667 $0 0.00%

    For 2023, Flagship Banks Minnesota's most frequently cited loan duration was Other, with 105 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 47 $13,735,000 $292,234 $0 0.00%
    $100k-200k 23 $3,575,000 $155,435 $0 0.00%
    $100,000 or less 13 $855,000 $65,769 $0 0.00%
    $600k-1MM 10 $7,470,000 $747,000 $0 0.00%
    $400k-600k 7 $3,325,000 $475,000 $0 0.00%
    $1MM+ 5 $14,265,000 $2,853,000 $0 0.00%

    2023 saw Flagship Banks Minnesota place emphasis on $200k-400k loans with 47 originations, totaling $13,735,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 10 $5,170,000 $517,000 $0 0.00%
    $100k-150k 8 $2,880,000 $360,000 $0 0.00%
    $75k-100k 8 $2,030,000 $253,750 $0 0.00%
    $150k-250k 7 $2,245,000 $320,714 $0 0.00%
    $50k-75k 5 $1,385,000 $277,000 $0 0.00%
    $50k or less 3 $465,000 $155,000 $0 0.00%

    Flagship Banks Minnesota lent most frequently to those with incomes in the $250k+ range, with 10 originations. The second most popular income band? $100k-150k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 105 $43,225,000 $411,667 $0 0.00%

    Flagship Banks Minnesota lent most frequently to those with DTI ratios of Exempt%, with 105 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 64 $29,050,000 $453,906 $0 0.00%
    White 37 $12,815,000 $346,351 $0 0.00%
    Asian 1 $655,000 $655,000 $0 0.00%
    Not provided 2 $470,000 $235,000 $0 0.00%
    Black 1 $235,000 $235,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.87%

    Flagship Banks Minnesota has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.33%

    Flagship Banks Minnesota has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 105 $43,225,000 $411,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    105 $43,225,000 $411,667