Flagship Banks Minnesota Mortgage Rates, Fees & Info
Isanti, MNLEI: 254900U0IGWRT4P7YI03
Tax ID: 41-0538070
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Flagship Banks Minnesota is a smaller bank specializing in Home Purchase and Refi loans. Flagship Banks Minnesota has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Duluth, North Port, Alexandria, and Fergus Falls 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.
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
85Origination Dollar Volume (All Markets)
$23,855,000Top 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 72 | $21,080,000 | $292,778 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 6 | $1,640,000 | $273,333 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| Alexandria, MN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| Fergus Falls, MN (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 0.00% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 85 | $23,855,000 | $280,647 | $0 | 0.00% |
For 2018, Flagship Banks Minnesota'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 | 50 | $13,220,000 | $264,400 | $0 | 0.00% |
| Refi | 28 | $9,670,000 | $345,357 | $0 | 0.00% |
| Home Improvement | 7 | $965,000 | $137,857 | $0 | 0.00% |
For 2018, Flagship Banks Minnesota's most frequently cited loan purpose was Home Purchase, with 50 originations. The 2nd most popular reason was Refi, with 28 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 85 | $23,855,000 | $280,647 | $0 | 0.00% |
For 2018, Flagship Banks Minnesota's most frequently cited loan duration was Other, with 85 originations.
Loan Sizing
2018 saw Flagship Banks Minnesota place emphasis on $100k-200k loans with 30 originations, totaling $4,460,000 in origination value.
Applicant Income
Flagship Banks Minnesota lent most frequently to those with incomes in the $100k-150k range, with 10 originations. The second most popular income band? $250k+, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 85 | $23,855,000 | $280,647 | $0 | 0.00% |
Flagship Banks Minnesota lent most frequently to those with DTI ratios of Exempt%, with 85 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.68%
Flagship Banks Minnesota has an average approval rate.
Pick Rate
Approvals leading to origination95.29%
Flagship Banks Minnesota has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 85 | $23,855,000 | $280,647 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 2 | $1,940,000 | $970,000 |
| Single Family (1-4 Units):Site-Built | 83 | $21,915,000 | $264,036 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Flagship Financial Group | FHA mortgage | Trouble during payment process | 1 | 100.0% |