Community Bank Mankato Mortgage Rates, Fees & Info
Vernon Center, MNLEI: 254900X5VVSXLQGRTJ55
Tax ID: 41-0557430
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Mortgage Data
Review & Overview
Community Bank Mankato is a smaller bank specializing in Home Purchase loans. Community Bank Mankato has a high proportion of conventional loans. Their top markets by origination volume include: Mankato, Minneapolis, Naples, Albert Lea, and Rochester among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Community Bank Mankato 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
109Origination Dollar Volume (All Markets)
$44,945,000Top 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 |
|---|---|---|---|---|---|
| MANKATO, MN (FHA|USDA|VA) | 89 | $27,215,000 | $305,787 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 8 | $13,830,000 | $1,728,750 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $2,305,000 | $2,305,000 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $630,000 | $157,500 | $0 | 0.00% |
| Albert Lea, MN (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 0.00% |
| Fairmont, MN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| New Ulm, MN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 109 | $44,945,000 | $412,339 | $0 | 0.00% |
For 2023, Community Bank Mankato's most frequently originated type of loan was Conventional, with 109 originations.
Loan Reason
For 2023, Community Bank Mankato's most frequently cited loan purpose was Home Purchase, with 71 originations. The 2nd most popular reason was Refi, with 16 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 109 | $44,945,000 | $412,339 | $0 | 0.00% |
For 2023, Community Bank Mankato's most frequently cited loan duration was Other, with 109 originations.
Loan Sizing
2023 saw Community Bank Mankato place emphasis on $100k-200k loans with 37 originations, totaling $5,945,000 in origination value.
Applicant Income
Community Bank Mankato lent most frequently to those with incomes in the $150k-250k range, with 13 originations. The second most popular income band? $50k-75k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 109 | $44,945,000 | $412,339 | $0 | 0.00% |
Community Bank Mankato lent most frequently to those with DTI ratios of Exempt%, with 109 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 48 | $32,210,000 | $671,042 | $0 | 0.00% |
| White | 61 | $12,735,000 | $208,770 | $0 | 0.00% |
Approval Rates
Total approvals of all applications99.17%
Community Bank Mankato has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination90.83%
Community Bank Mankato has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 109 | $44,945,000 | $412,339 |