Profinium Mortgage Rates, Fees & Info
Truman, MNLEI: 5493001RCW6RN8X6X688
Tax ID: 41-0473890
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Mortgage Data
Review & Overview
Profinium is a smaller mortgage company specializing in Refi and Home Purchase loans. Profinium has a high proportion of conventional loans. Their top markets by origination volume include: Owatonna, Minneapolis, Mankato, Rochester, and Fairmont among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Profinium 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
32Origination Dollar Volume (All Markets)
$23,840,000Top 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 |
|---|---|---|---|---|---|
| Owatonna, MN (FHA|USDA|VA) | 8 | $6,890,000 | $861,250 | $0 | 0.00% |
| Outside of Metro Areas | 6 | $6,890,000 | $1,148,333 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 4 | $5,200,000 | $1,300,000 | $0 | 0.00% |
| MANKATO, MN (FHA|USDA|VA) | 4 | $2,640,000 | $660,000 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 2 | $1,560,000 | $780,000 | $0 | 0.00% |
| Fairmont, MN (FHA|USDA|VA) | 5 | $325,000 | $65,000 | $0 | 0.00% |
| Albert Lea, MN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 32 | $23,840,000 | $745,000 | $0 | 0.00% |
For 2018, Profinium's most frequently originated type of loan was Conventional, with 32 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 22 | $15,320,000 | $696,364 | $0 | 0.00% |
| Home Purchase | 8 | $8,430,000 | $1,053,750 | $0 | 0.00% |
| Home Improvement | 2 | $90,000 | $45,000 | $0 | 0.00% |
For 2018, Profinium's most frequently cited loan purpose was Refi, with 22 originations. The 2nd most popular reason was Home Purchase, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 32 | $23,840,000 | $745,000 | $0 | 0.00% |
For 2018, Profinium's most frequently cited loan duration was Other, with 32 originations.
Loan Sizing
2018 saw Profinium place emphasis on $100,000 or less loans with 15 originations, totaling $755,000 in origination value.
Applicant Income
Profinium lent most frequently to those with incomes in the $50k-75k range, with 5 originations. The second most popular income band? $100k-150k, with 3 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 32 | $23,840,000 | $745,000 | $0 | 0.00% |
Profinium lent most frequently to those with DTI ratios of Exempt%, with 32 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.32%
Profinium has an average approval rate.
Pick Rate
Approvals leading to origination34.38%
Profinium has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 32 | $23,840,000 | $745,000 |