Union State Bank Of Fargo Mortgage Rates, Fees & Info

Fargo, ND

LEI: 254900Y3CWQSLFVW8D53

Tax ID: 45-0314785

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Union State Bank Of Fargo is a smaller bank specializing in Refi and Home Purchase loans. Union State Bank Of Fargo has a high proportion of conventional loans. Their top two markets are Fargo and Fergus Falls .

    Union State Bank Of Fargo 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. Union State Bank Of Fargo is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.67% 11/21/24
    30 Year Conventional Refi 6.57% 11/21/24
    30 Year Cash-out Refi 6.61% 11/21/24
    15 Year Conventional Purchase 6.61% 11/21/24
    15 Year Conventional Refi 6.41% 11/21/24
    15 Year Cash-out Refi 6.41% 11/21/24
    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.

    Union State Bank Of Fargo Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Union State Bank Of Fargo. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    86

    Origination Dollar Volume (All Markets)

    $10,040,000

    Employee count

    17

    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
    FARGO, ND-MN (FHA|USDA|VA) 78 $6,650,000 $85,256 $609 4.89%
    Outside of Metro Areas 4 $2,910,000 $727,500 $3,521 4.83%
    Fergus Falls, MN (FHA|USDA|VA) 4 $480,000 $120,000 $1,228 4.50%
    Union State Bank Of Fargo's top markets include Fargo and Fergus Falls among others.

    Their top states include:
  • North Dakota (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Union State Bank of Fargo based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    VISIONBank
    Similarity Rank: 162
    FIRST COMMUNITY CREDIT UNION
    Similarity Rank: 310
    T & C REAL ESTATE SERVICES LLC
    Similarity Rank: 312
    Deere Employees Credit Union
    Similarity Rank: 326
    VALLEY MORTGAGE, INC.
    Similarity Rank: 336
    Starion Bank
    Similarity Rank: 616
    TOWN AND COUNTRY Credit Union
    Similarity Rank: 627
    Choice Financial Group
    Similarity Rank: 756
    BlackRidgeBANK
    Similarity Rank: 837
    First International Bank & Trust
    Similarity Rank: 851

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 86 $10,040,000 $116,744 $693 4.87%

    For 2018, Union State Bank Of Fargo's most frequently originated type of loan was Conventional, with 86 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 33 $5,775,000 $175,000 $659 4.37%
    Home Purchase 29 $2,905,000 $100,172 $1,442 5.63%
    Other 14 $1,020,000 $72,857 $111 4.68%
    Home Improvement 10 $340,000 $34,000 $174 4.58%

    For 2018, Union State Bank Of Fargo's most frequently cited loan purpose was Refi, with 33 originations. The 2nd most popular reason was Home Purchase, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 55 $4,945,000 $89,909 $785 4.93%
    5 Year 22 $4,430,000 $201,364 $304 4.79%
    10 Year 3 $155,000 $51,667 $0 4.42%
    15 Year 3 $175,000 $58,333 $439 4.83%
    1 Year 2 $210,000 $105,000 $0 4.75%
    30 Year 1 $125,000 $125,000 $3,142 5.15%

    For 2018, Union State Bank Of Fargo's most frequently cited loan duration was Other, with 55 originations. The 2nd most popular length was 5 Year, with 22 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 50 $2,560,000 $51,200
    $1k-2k 9 $1,105,000 $122,778
    $2k-3k 4 $1,030,000 $257,500
    $3k-4k 1 $325,000 $325,000

    Union State Bank Of Fargo's average total fees were $3,142, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 50 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 43 $3,995,000 $92,907
    3-4% 24 $2,280,000 $95,000
    5-6% 11 $3,245,000 $295,000
    7-8% 3 $75,000 $25,000
    Over 8% 3 $65,000 $21,667
    6-7% 2 $380,000 $190,000

    During 2018, Union State Bank Of Fargo's average interest rate for loans was 5.15%, while their most frequently originated rate bucket for loans was 4-5%, with 43 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 57 $2,315,000 $40,614 $137 4.97%
    $100k-200k 19 $2,605,000 $137,105 $1,593 4.71%
    $200k-400k 9 $2,615,000 $290,556 $3,162 4.53%
    $1MM+ 1 $2,505,000 $2,505,000 $0 5.31%

    2018 saw Union State Bank Of Fargo place emphasis on $100,000 or less loans with 57 originations, totaling $2,315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 19 $1,245,000 $65,526 $724 4.57%
    $75k-100k 17 $1,085,000 $63,824 $599 4.74%
    $50k or less 12 $700,000 $58,333 $1,229 5.92%
    $50k-75k 10 $590,000 $59,000 $533 5.33%
    $150k-250k 9 $875,000 $97,222 $522 4.50%
    $250k+ 3 $615,000 $205,000 $1,387 4.50%

    Union State Bank Of Fargo lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $75k-100k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 23 $1,215,000 $52,826 $491 4.89%
    20-30% 21 $1,295,000 $61,667 $403 4.36%
    <20% 11 $1,155,000 $105,000 $1,130 5.18%
    38% 3 $135,000 $45,000 $1,013 7.08%
    40% 3 $165,000 $55,000 $1,571 6.05%
    39% 2 $440,000 $220,000 $2,463 4.25%
    36% 2 $140,000 $70,000 $717 4.25%
    41% 2 $200,000 $100,000 $972 5.00%
    42% 2 $60,000 $30,000 $117 4.50%
    >60% 1 $125,000 $125,000 $0 5.00%
    43% 1 $145,000 $145,000 $1,526 5.00%
    37% 1 $135,000 $135,000 $2,613 4.50%
    45% 1 $65,000 $65,000 $0 4.50%

    Union State Bank Of Fargo lent most frequently to those with DTI ratios of 30-36%, with 23 originations. The next most common DTI ratio? 20-30%, with 21 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 72 $5,640,000 $78,333 $693 4.60%
    Not applicable 10 $4,300,000 $430,000 $0 4.98%
    Asian 4 $100,000 $25,000 $0 9.44%

    Approval Rates

    Total approvals of all applications
    93.75%

    Union State Bank Of Fargo has an average approval rate.

    Pick Rate

    Approvals leading to origination
    95.35%

    Union State Bank Of Fargo 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
    225.0 6 $130,000 $21,667
    240.0 2 $50,000 $25,000
    NA 78 $9,860,000 $126,410

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $3,720,000 $620,000
    Single Family (1-4 Units):Manufactured 8 $180,000 $22,500
    Single Family (1-4 Units):Site-Built 72 $6,140,000 $85,278

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $1,135,000 $66,765 $183 4.40%
    40-60% 9 $3,585,000 $398,333 $1,523 4.81%
    60-80% 15 $2,415,000 $161,000 $2,922 5.61%
    80-100% 12 $1,640,000 $136,667 $1,540 5.29%
    Over 100% 1 $195,000 $195,000 $0 4.25%
    Under 20% 32 $1,070,000 $33,438 $141 4.66%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Union State Bank of Fargo 3820 12th Avenue Nw Fargo, ND 58102 Full Service B&M $6,312
    Union State Bank of Fargo 4530 17th Avenue South Fargo, ND 58103 Full Service B&M $73,635

    For 2018, Union State Bank Of Fargo had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $1,014
    Net interest income $877
    Total noninterest income $116
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $28
    Trading account gains and fees $0
    Additional Noninterest Income $88
    Pre-tax net operating income $171
    Securities gains (or losses, -) $0
    Income before extraordinary items $137
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $137
    Minority interest net income $0
    Net income $137
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $137

    Union State Bank Of Fargo's gross interest income from loans was $1,014,000.
    Union State Bank Of Fargo's net interest income from loans was $877,000.
    Union State Bank Of Fargo's fee based income from loans was $28,000.
    Union State Bank Of Fargo's net income from loans was $137,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $137
    Provision for credit losses $65
    Total noninterest expense $757
    Salaries and employee benefits $404
    Premises and equipment expense $126
    Additional noninterest expense $227
    Applicable income taxes $34
    Net charge-offs $-14
    Cash dividends $0

    Union State Bank Of Fargo's interest expense for loans was $137,000.
    Union State Bank Of Fargo's payroll and benefits expense were $404,000.
    Union State Bank Of Fargo's property, plant and equipment expenses $126,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 2.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $87,117
    Deposits held in domestic offices $87,117
    Deposits by Individuals, partnerships, and corporations $86,256
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $363
    Deposits by Commercial banks and other depository institutions in U.S. $498
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $12,071
    Demand deposits $6,533
    Nontransaction accounts $75,046
    Money market deposit accounts (MMDAs) $13,407
    Other savings deposits (excluding MMDAs) $44,411
    Total time deposits $17,229
    Total time and savings deposits $80,584
    Noninterest-bearing deposits $18,174
    Interest-bearing deposits $68,943
    Retail deposits $82,636
    IRAs and Keogh plan accounts $2,526
    Brokered deposits $498
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $108,853
    Cash & Balances due from depository institutions $15,136
    Interest-bearing balances $11,091
    Total securities $7,539
    Federal funds sold & reverse repurchase $0
    Net loans and leases $77,937
    Loan and leases loss allowance $79
    Trading account assets $0
    Bank premises and fixed assets $1,879
    Other real estate owned $0
    Goodwill and other intangibles $4,330
    All other assets $2,032

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $108,852
    Total Liabilities $94,747
    Total deposits $87,117
    Interest-bearing deposits $68,943
    Deposits held in domestic offices $87,117
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $6,871
    Subordinated debt $0
    All other liabilities $759

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $77,937
    Loan and leases loss allowance $79
    Total loans and leases (domestic) $78,016
    All real estate loans $62,958
    Real estate loans in domestic offices $62,958
    Construction and development loans $3,608
    Residential 1-4 family construction $1,723
    Other construction, all land development and other land $1,885
    Loans secured by nonfarm nonresidential properties $20,158
    Nonfarm nonresidential secured by owner-occupied properties $15,622
    Commercial real estate & other non-farm, non-residential $4,536
    Multifamily residential real estate $9,238
    1-4 family residential loans $29,695
    Farmland loans $259
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $9,856
    To non-U.S. addressees $0
    Loans to individuals $5,187
    Credit card loans $0
    Related Plans $1,482
    Consumer Auto Loans $1,782
    Other loans to individuals $1,923
    All other loans & leases $15
    Loans to foreign governments and official institutions $0
    Other loans $15
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $429
    Non 1-4 family restructured loans & leases $429
    Total loans and leases (foreign) $0

    Union State Bank of Fargo had $77,937,000 of loans outstanding in 2018. $62,958,000 of loans were in real estate loans. $3,608,000 of loans were in development loans. $9,238,000 of loans were in multifamily mortgage loans. $29,695,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,782,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 44 $12,593 $286,205
    Nonfarm, nonresidential loans - <$100k 12 $518 $43,167
    Nonfarm, nonresidential loans - $100-250k 7 $838 $119,714
    Nonfarm, nonresidential loans - $250k-1MM 25 $11,237 $449,480
    Commercial & Industrial, US addressed loans - <$1MM 141 $8,359 $59,284
    Commercial & Industrial, US addressed loans - <$100k 99 $2,168 $21,899
    Commercial & Industrial, US addressed loans - $100-250k 28 $2,147 $76,679
    Commercial & Industrial, US addressed loans - $250k-1MM 14 $4,044 $288,857
    Farmland loans - <$1MM 2 $259 $129,500
    Farmland loans - $100-250k 2 $259 $129,500