Union State Bank Of Fargo Mortgage Rates, Fees & Info
Fargo, NDLEI: 254900Y3CWQSLFVW8D53
Tax ID: 45-0314785
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Mortgage Data
Review & Overview
Union State Bank Of Fargo is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Union State Bank Of Fargo has a high proportion of conventional loans. Their top markets by origination volume include: Fargo, Aberdeen, Minneapolis, Fergus Falls, and Grand Forks among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.67% | 11/22/24 |
| 30 Year Conventional Refi | 6.57% | 11/22/24 |
| 30 Year Cash-out Refi | 6.61% | 11/22/24 |
| 15 Year Conventional Purchase | 6.61% | 11/22/24 |
| 15 Year Conventional Refi | 6.41% | 11/22/24 |
| 15 Year Cash-out Refi | 6.41% | 11/22/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
298Origination Dollar Volume (All Markets)
$75,520,000Awards
Union State Bank of Fargo - 2022
Union State Bank of Fargo is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 227 | $37,645,000 | $165,837 | $2,848 | 5.00% |
| FARGO, ND-MN (FHA|USDA|VA) | 30 | $17,920,000 | $597,333 | $3,549 | 4.62% |
| Aberdeen, SD (FHA|USDA|VA) | 1 | $7,005,000 | $7,005,000 | $0 | 4.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 7 | $5,595,000 | $799,286 | $5,135 | 4.74% |
| Fergus Falls, MN (FHA|USDA|VA) | 5 | $1,695,000 | $339,000 | $4,915 | 4.83% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 9 | $1,485,000 | $165,000 | $3,149 | 4.74% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $0 | 4.10% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $9,167 | 5.38% |
| Grand Rapids, MN (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $4,339 | 5.18% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $8,270 | 5.38% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $7,803 | 5.50% |
| Bemidji, MN (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $2,663 | 5.81% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 6.75% |
| Brookings, SD (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,619 | 3.50% |
| Alexandria, MN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,766 | 6.50% |
| Fairmont, MN (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $2,275 | 5.88% |
| DULUTH, MN-WI (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $2,289 | 4.65% |
| BISMARCK, ND (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $517 | 6.96% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $1,523 | 6.50% |
| Wahpeton, ND-MN (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $468 | 5.78% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 298 | $75,520,000 | $253,423 | $3,043 | 4.98% |
For 2022, Union State Bank Of Fargo's most frequently originated type of loan was Conventional, with 298 originations.
Loan Reason
For 2022, Union State Bank Of Fargo's most frequently cited loan purpose was Home Purchase, with 159 originations. The 2nd most popular reason was Cash Out Refi, with 69 originations.
Loan Duration/Length
For 2022, Union State Bank Of Fargo's most frequently cited loan duration was Other, with 99 originations. The 2nd most popular length was 30 Year, with 93 originations.
Origination Fees/Closing Costs
Union State Bank Of Fargo's average total fees were $4,322, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 77 originations.
Interest Rates
During 2022, Union State Bank Of Fargo's average interest rate for loans was 5.20%, while their most frequently originated rate bucket for loans was 5-6%, with 108 originations.
Loan Sizing
2022 saw Union State Bank Of Fargo place emphasis on $100,000 or less loans with 120 originations, totaling $7,030,000 in origination value.
Applicant Income
Union State Bank Of Fargo lent most frequently to those with incomes in the $50k-75k range, with 67 originations. The second most popular income band? $50k or less, with 60 originations.
Applicant Debt to Income Ratio
Union State Bank Of Fargo lent most frequently to those with DTI ratios of 20-30%, with 77 originations. The next most common DTI ratio? 30-36%, with 55 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.58%
Union State Bank Of Fargo has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination92.28%
Union State Bank Of Fargo has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 298 | $75,520,000 | $253,423 |