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: Minneapolis, Owatonna, Fairmont, Mankato, and Bismarck 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 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
36Origination Dollar Volume (All Markets)
$6,550,000Top 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) | 6 | $2,400,000 | $400,000 | $0 | 0.00% |
| Owatonna, MN (FHA|USDA|VA) | 11 | $1,265,000 | $115,000 | $0 | 0.00% |
| Outside of Metro Areas | 5 | $935,000 | $187,000 | $0 | 0.00% |
| Fairmont, MN (FHA|USDA|VA) | 6 | $780,000 | $130,000 | $0 | 0.00% |
| MANKATO, MN (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $0 | 0.00% |
| BISMARCK, ND (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $0 | 0.00% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 36 | $6,550,000 | $181,944 | $0 | 0.00% |
For 2019, Profinium's most frequently originated type of loan was Conventional, with 36 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 19 | $2,815,000 | $148,158 | $0 | 0.00% |
| Home Purchase | 16 | $3,710,000 | $231,875 | $0 | 0.00% |
| Home Improvement | 1 | $25,000 | $25,000 | $0 | 0.00% |
For 2019, Profinium's most frequently cited loan purpose was Refi, with 19 originations. The 2nd most popular reason was Home Purchase, with 16 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 36 | $6,550,000 | $181,944 | $0 | 0.00% |
For 2019, Profinium's most frequently cited loan duration was Other, with 36 originations.
Loan Sizing
2019 saw Profinium place emphasis on $100,000 or less loans with 13 originations, totaling $695,000 in origination value.
Applicant Income
Profinium lent most frequently to those with incomes in the $50k or less range, with 7 originations. The second most popular income band? $150k-250k, with 6 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 36 | $6,550,000 | $181,944 | $0 | 0.00% |
Profinium lent most frequently to those with DTI ratios of Exempt%, with 36 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 26 | $3,860,000 | $148,462 | $0 | 0.00% |
| Not applicable | 10 | $2,690,000 | $269,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications82.86%
Profinium has a below average approval rate.
Pick Rate
Approvals leading to origination38.89%
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 | 36 | $6,550,000 | $181,944 |