Community Bank Mankato Mortgage Rates, Fees & Info
Vernon Center, MNLEI: 254900X5VVSXLQGRTJ55
Tax ID: 41-0557430
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Community Bank Mankato is a smaller bank specializing in Home Purchase and Refi loans. Community Bank Mankato has a high proportion of conventional loans. Their top markets by origination volume include: Mankato, Minneapolis, Carbondale, Rochester, and Faribault among others. We have data for 10 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
152Origination Dollar Volume (All Markets)
$98,380,000Top 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) | 111 | $69,775,000 | $628,604 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 18 | $13,870,000 | $770,556 | $0 | 0.00% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 1 | $8,005,000 | $8,005,000 | $0 | 0.00% |
| Outside of Metro Areas | 10 | $2,910,000 | $291,000 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 5 | $1,205,000 | $241,000 | $0 | 0.00% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 2 | $1,010,000 | $505,000 | $0 | 0.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $940,000 | $470,000 | $0 | 0.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 0.00% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| Fairmont, 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 | 152 | $98,380,000 | $647,237 | $0 | 0.00% |
For 2022, Community Bank Mankato's most frequently originated type of loan was Conventional, with 152 originations.
Loan Reason
For 2022, Community Bank Mankato's most frequently cited loan purpose was Home Purchase, with 92 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 | 152 | $98,380,000 | $647,237 | $0 | 0.00% |
For 2022, Community Bank Mankato's most frequently cited loan duration was Other, with 152 originations.
Loan Sizing
2022 saw Community Bank Mankato place emphasis on $200k-400k loans with 46 originations, totaling $12,590,000 in origination value.
Applicant Income
Community Bank Mankato lent most frequently to those with incomes in the $100k-150k range, with 20 originations. The second most popular income band? $50k-75k, with 19 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 152 | $98,380,000 | $647,237 | $0 | 0.00% |
Community Bank Mankato lent most frequently to those with DTI ratios of Exempt%, with 152 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.44%
Community Bank Mankato has an average approval rate.
Pick Rate
Approvals leading to origination96.05%
Community Bank Mankato 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 | 152 | $98,380,000 | $647,237 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Community Loan Servicing, LLC (formerly known as Bayview Loan Servicing, LLC) | FHA mortgage | Struggling to pay mortgage | 2 | 66.7% |
| Community Loan Servicing, LLC (formerly known as Bayview Loan Servicing, LLC) | Other type of mortgage | Trouble during payment process | 1 | 33.3% |