Manufacturers Bank & Trust Company Mortgage Rates, Fees & Info
Forest City, IALEI: 254900U7G0LJ4QNSFC86
Tax ID: 42-0627479
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Mortgage Data
Review & Overview
Manufacturers Bank & Trust Company is a smaller bank specializing in Home Purchase and Refi loans. Manufacturers Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Mason City, Rochester, Austin, Albert Lea, and Owatonna among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Manufacturers Bank & Trust Company 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.94% | 4/18/24 |
| 30 Year Conventional Refi | 6.68% | 4/18/24 |
| 30 Year Cash-out Refi | 6.80% | 4/18/24 |
| 15 Year Conventional Purchase | 6.22% | 4/18/24 |
| 15 Year Conventional Refi | 6.19% | 4/18/24 |
| 15 Year Cash-out Refi | 6.19% | 4/18/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Manufacturers Bank & Trust Company Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
186Origination Dollar Volume (All Markets)
$27,150,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 86 | $11,290,000 | $131,279 | $0 | 0.00% |
| Mason City, IA (FHA|USDA|VA) | 26 | $5,530,000 | $212,692 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 24 | $3,700,000 | $154,167 | $0 | 0.00% |
| Austin, MN (FHA|USDA|VA) | 16 | $1,870,000 | $116,875 | $0 | 0.00% |
| Albert Lea, MN (FHA|USDA|VA) | 15 | $1,675,000 | $111,667 | $0 | 0.00% |
| Owatonna, MN (FHA|USDA|VA) | 7 | $835,000 | $119,286 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| Willmar, MN (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| Winona, MN (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| ROCKFORD, IL (FHA|USDA|VA) | 3 | $145,000 | $48,333 | $0 | 0.00% |
| Grand Rapids, MN (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Manufacturers Bank & Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 186 | $27,150,000 | $145,968 | $0 | 0.00% |
For 2023, Manufacturers Bank & Trust Company's most frequently originated type of loan was Conventional, with 186 originations.
Loan Reason
For 2023, Manufacturers Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 117 originations. The 2nd most popular reason was Refi, with 40 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 186 | $27,150,000 | $145,968 | $0 | 0.00% |
For 2023, Manufacturers Bank & Trust Company's most frequently cited loan duration was Other, with 186 originations.
Loan Sizing
2023 saw Manufacturers Bank & Trust Company place emphasis on $100,000 or less loans with 84 originations, totaling $4,670,000 in origination value.
Applicant Income
Manufacturers Bank & Trust Company lent most frequently to those with incomes in the $50k or less range, with 45 originations. The second most popular income band? $100k-150k, with 39 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 186 | $27,150,000 | $145,968 | $0 | 0.00% |
Manufacturers Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 186 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.43%
Manufacturers Bank & Trust Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination83.87%
Manufacturers Bank & Trust Company has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 186 | $27,150,000 | $145,968 |