Northern State Bank Mortgage Rates, Fees & Info
Ashland, WILEI: 254900X5QCTPBYKG4S42
Tax ID: 39-0508245
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Northern State Bank is a smaller bank specializing in Home Purchase and Refi loans. Northern State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Duluth, Grand Rapids, and Houghton among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Northern State Bank 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.
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Originations
133Origination Dollar Volume (All Markets)
$17,945,000Top 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 | 121 | $16,045,000 | $132,603 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 10 | $1,510,000 | $151,000 | $0 | 0.00% |
| Grand Rapids, MN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Houghton, MI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 133 | $17,945,000 | $134,925 | $0 | 0.00% |
For 2022, Northern State Bank's most frequently originated type of loan was Conventional, with 133 originations.
Loan Reason
For 2022, Northern State Bank's most frequently cited loan purpose was Home Purchase, with 71 originations. The 2nd most popular reason was Refi, with 38 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 133 | $17,945,000 | $134,925 | $0 | 0.00% |
For 2022, Northern State Bank's most frequently cited loan duration was Other, with 133 originations.
Loan Sizing
2022 saw Northern State Bank place emphasis on $100,000 or less loans with 65 originations, totaling $3,655,000 in origination value.
Applicant Income
Northern State Bank lent most frequently to those with incomes in the $50k or less range, with 32 originations. The second most popular income band? $100k-150k, with 30 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 133 | $17,945,000 | $134,925 | $0 | 0.00% |
Northern State Bank lent most frequently to those with DTI ratios of Exempt%, with 133 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.27%
Northern State Bank has an average approval rate.
Pick Rate
Approvals leading to origination76.69%
Northern State Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 133 | $17,945,000 | $134,925 |