Northeast Bank Mortgage Rates, Fees & Info
Minneapolis, MNLEI: 5493001FOLPDJ44AZD23
Tax ID: 41-0663145
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Northeast Bank is a smaller bank specializing in Home Purchase loans. Northeast Bank has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Denver, Mobile, and Cape Coral among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Northeast Bank has an above average approval rate when compared to the average across all lenders.
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Originations
41Origination Dollar Volume (All Markets)
$12,855,000Top 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 34 | $9,800,000 | $288,235 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $1,035,000 | $1,035,000 | $0 | 0.00% |
| MOBILE, AL (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $870,000 | $217,500 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 41 | $12,855,000 | $313,537 | $0 | 0.00% |
For 2023, Northeast Bank's most frequently originated type of loan was Conventional, with 41 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 36 | $11,850,000 | $329,167 | $0 | 0.00% |
| Home Improvement | 3 | $625,000 | $208,333 | $0 | 0.00% |
| Refi | 2 | $380,000 | $190,000 | $0 | 0.00% |
For 2023, Northeast Bank's most frequently cited loan purpose was Home Purchase, with 36 originations. The 2nd most popular reason was Home Improvement, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 41 | $12,855,000 | $313,537 | $0 | 0.00% |
For 2023, Northeast Bank's most frequently cited loan duration was Other, with 41 originations.
Loan Sizing
2023 saw Northeast Bank place emphasis on $200k-400k loans with 19 originations, totaling $4,855,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $250k+ | 3 | $585,000 | $195,000 | $0 | 0.00% |
Northeast Bank lent most frequently to those with incomes in the $250k+ range, with 3 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 41 | $12,855,000 | $313,537 | $0 | 0.00% |
Northeast Bank lent most frequently to those with DTI ratios of Exempt%, with 41 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 38 | $12,270,000 | $322,895 | $0 | 0.00% |
| White | 3 | $585,000 | $195,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Northeast 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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 41 | $12,855,000 | $313,537 |