Flagship Banks Minnesota Mortgage Rates, Fees & Info

Isanti, MN

LEI: 254900U0IGWRT4P7YI03

Tax ID: 41-0538070

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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, Mankato, and Phoenix among others. We have data for 5 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 a below 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.

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    Originations

    97

    Origination Dollar Volume (All Markets)

    $43,445,000

    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) 83 $39,565,000 $476,687 $0 0.00%
    DULUTH, MN-WI (FHA|USDA|VA) 10 $1,850,000 $185,000 $0 0.00%
    MANKATO, MN (FHA|USDA|VA) 1 $1,535,000 $1,535,000 $0 0.00%
    Outside of Metro Areas 2 $460,000 $230,000 $0 0.00%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
    Flagship Banks Minnesota's top markets include Minneapolis, Duluth, Mankato, and Phoenix among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 97 $43,445,000 $447,887 $0 0.00%

    For 2019, Flagship Banks Minnesota's most frequently originated type of loan was Conventional, with 97 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 49 $27,215,000 $555,408 $0 0.00%
    Refi 41 $15,655,000 $381,829 $0 0.00%
    Home Improvement 7 $575,000 $82,143 $0 0.00%

    For 2019, Flagship Banks Minnesota's most frequently cited loan purpose was Home Purchase, with 49 originations. The 2nd most popular reason was Refi, with 41 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 97 $43,445,000 $447,887 $0 0.00%

    For 2019, Flagship Banks Minnesota's most frequently cited loan duration was Other, with 97 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 45 $11,935,000 $265,222 $0 0.00%
    $100k-200k 22 $3,110,000 $141,364 $0 0.00%
    $100,000 or less 12 $620,000 $51,667 $0 0.00%
    $1MM+ 7 $20,605,000 $2,943,571 $0 0.00%
    $600k-1MM 7 $5,205,000 $743,571 $0 0.00%
    $400k-600k 4 $1,970,000 $492,500 $0 0.00%

    2019 saw Flagship Banks Minnesota place emphasis on $200k-400k loans with 45 originations, totaling $11,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 11 $3,345,000 $304,091 $0 0.00%
    $50k-75k 5 $415,000 $83,000 $0 0.00%
    $75k-100k 5 $1,025,000 $205,000 $0 0.00%
    $250k+ 4 $2,960,000 $740,000 $0 0.00%
    $100k-150k 3 $755,000 $251,667 $0 0.00%
    $50k or less 3 $385,000 $128,333 $0 0.00%

    Flagship Banks Minnesota lent most frequently to those with incomes in the $150k-250k range, with 11 originations. The second most popular income band? $50k-75k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 97 $43,445,000 $447,887 $0 0.00%

    Flagship Banks Minnesota lent most frequently to those with DTI ratios of Exempt%, with 97 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 66 $34,560,000 $523,636 $0 0.00%
    White 30 $8,880,000 $296,000 $0 0.00%
    Not provided 1 $5,000 $5,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.18%

    Flagship Banks Minnesota has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    88.66%

    Flagship Banks Minnesota has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 97 $43,445,000 $447,887

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 13 $20,265,000 $1,558,846
    Single Family (1-4 Units):Site-Built 84 $23,180,000 $275,952