Pioneer Bank Mortgage Rates, Fees & Info

Mapleton, MN

LEI: 54930002ZF7XTZGVKY26

Tax ID: 41-0393345

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Mortgage Data

Review & Overview

Pioneer Bank is a smaller bank specializing in Home Purchase loans. Pioneer Bank has a high proportion of conventional loans. Their top markets by origination volume include: Mankato, Minneapolis, Albert Lea, Fairmont, and Rochester among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Pioneer 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

65

Origination Dollar Volume (All Markets)

$23,055,000

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
MANKATO, MN (FHA|USDA|VA) 31 $17,375,000 $560,484 $0 0.00%
Outside of Metro Areas 23 $2,625,000 $114,130 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 3 $1,805,000 $601,667 $0 0.00%
Albert Lea, MN (FHA|USDA|VA) 2 $410,000 $205,000 $0 0.00%
Fairmont, MN (FHA|USDA|VA) 2 $310,000 $155,000 $0 0.00%
ROCHESTER, MN (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
New Ulm, MN (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Brainerd, MN (FHA|USDA|VA) 2 $140,000 $70,000 $0 0.00%
Pioneer Bank's top markets include Mankato, Minneapolis, Albert Lea, Fairmont, and Rochester among others.

Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 65 $23,055,000 $354,692 $0 0.00%

    For 2023, Pioneer Bank's most frequently originated type of loan was Conventional, with 65 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 31 $18,185,000 $586,613 $0 0.00%
    Refi 22 $4,140,000 $188,182 $0 0.00%
    Home Improvement 9 $565,000 $62,778 $0 0.00%
    Other 3 $165,000 $55,000 $0 0.00%

    For 2023, Pioneer Bank's most frequently cited loan purpose was Home Purchase, with 31 originations. The 2nd most popular reason was Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 65 $23,055,000 $354,692 $0 0.00%

    For 2023, Pioneer Bank's most frequently cited loan duration was Other, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 26 $1,470,000 $56,538 $0 0.00%
    $100k-200k 22 $3,110,000 $141,364 $0 0.00%
    $200k-400k 10 $2,730,000 $273,000 $0 0.00%
    $600k-1MM 3 $2,275,000 $758,333 $0 0.00%
    $1MM+ 2 $12,420,000 $6,210,000 $0 0.00%
    $400k-600k 2 $1,050,000 $525,000 $0 0.00%

    2023 saw Pioneer Bank place emphasis on $100,000 or less loans with 26 originations, totaling $1,470,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 12 $1,470,000 $122,500 $0 0.00%
    $150k-250k 9 $1,445,000 $160,556 $0 0.00%
    $75k-100k 9 $1,205,000 $133,889 $0 0.00%
    $250k+ 8 $10,130,000 $1,266,250 $0 0.00%
    $50k-75k 6 $800,000 $133,333 $0 0.00%
    $50k or less 6 $320,000 $53,333 $0 0.00%

    Pioneer Bank lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $150k-250k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 65 $23,055,000 $354,692 $0 0.00%

    Pioneer Bank lent most frequently to those with DTI ratios of Exempt%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 47 $15,285,000 $325,213 $0 0.00%
    Not applicable 13 $7,345,000 $565,000 $0 0.00%
    Not provided 4 $410,000 $102,500 $0 0.00%
    Black 1 $15,000 $15,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.37%

    Pioneer Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    86.15%

    Pioneer Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 65 $23,055,000 $354,692

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    65 $23,055,000 $354,692