Dakota Community Bank & Trust Mortgage Rates, Fees & Info
Hebron, NDLEI: 5493002POZ4RFS6X0Z30
Tax ID: 45-0192605
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Mortgage Data
Review & Overview
Dakota Community Bank & Trust is a smaller bank specializing in Home Purchase loans. Dakota Community Bank & Trust has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Bismarck, Dickinson, Fargo, Spearfish, and Tampa among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Dakota Community Bank & Trust 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. Dakota Community Bank & Trust is typically an average 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.52% | 4/14/24 |
| 30 Year Conventional Refi | 6.49% | 4/14/24 |
| 30 Year Cash-out Refi | 6.67% | 4/14/24 |
| 30 Year FHA Purchase | 7.10% | 4/14/24 |
| 30 Year FHA Refi | 6.89% | 4/14/24 |
| 30 Year VA Purchase | 6.06% | 4/14/24 |
| 30 Year VA Refi | 5.50% | 4/14/24 |
| 30 Year USDA Purchase | 6.38% | 4/14/24 |
| 15 Year Conventional Purchase | 5.99% | 4/14/24 |
| 15 Year Conventional Refi | 6.26% | 4/14/24 |
| 15 Year Cash-out Refi | 6.26% | 4/14/24 |
| 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. | ||
Dakota Community Bank & Trust Mortgage Calculator
Your Estimates
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This is not an official calculator from Dakota Community Bank & Trust. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
247Origination Dollar Volume (All Markets)
$62,465,000Awards
Dakota Community Bank & Trust - 2023
Dakota Community Bank & Trust is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Dakota Community Bank & Trust's average 30 year fixed mortgage rate was
6.29%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.19%.
Relative Fees (Closing Costs)
Dakota Community Bank & Trust's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,360.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| BISMARCK, ND (FHA|USDA|VA) | 132 | $35,250,000 | $267,045 | $5,709 | 6.49% |
| Dickinson, ND (FHA|USDA|VA) | 68 | $18,250,000 | $268,382 | $6,193 | 6.46% |
| Outside of Metro Areas | 36 | $6,100,000 | $169,444 | $5,096 | 6.41% |
| FARGO, ND-MN (FHA|USDA|VA) | 4 | $910,000 | $227,500 | $5,258 | 6.28% |
| Spearfish, SD (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $5,618 | 7.35% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 5.99% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,542 | 6.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $10,042 | 5.75% |
| Brookings, SD (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $5,553 | 6.50% |
| Minot, ND (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 6.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against Dakota Community Bank & Trust based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 216
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Product Mix
For 2023, Dakota Community Bank & Trust's most frequently originated type of loan was Conventional, with 185 originations. Their 2nd most popular type was FHA, with 40 originations.
Loan Reason
For 2023, Dakota Community Bank & Trust's most frequently cited loan purpose was Home Purchase, with 211 originations. The 2nd most popular reason was Home Improvement, with 13 originations.
Loan Duration/Length
For 2023, Dakota Community Bank & Trust's most frequently cited loan duration was 30 Year, with 182 originations. The 2nd most popular length was 15 Year, with 14 originations.
Origination Fees/Closing Costs
Dakota Community Bank & Trust's average total fees were $6,360, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 52 originations.
Interest Rates
During 2023, Dakota Community Bank & Trust's average interest rate for loans was 6.29%, while their most frequently originated rate bucket for loans was 6-7%, with 125 originations.
Loan Sizing
2023 saw Dakota Community Bank & Trust place emphasis on $200k-400k loans with 102 originations, totaling $28,580,000 in origination value.
Applicant Income
Dakota Community Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 57 originations. The second most popular income band? $50k-75k, with 51 originations.
Applicant Debt to Income Ratio
Dakota Community Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 45 originations. The next most common DTI ratio? 30-36%, with 42 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.72%
Dakota Community Bank & Trust has an average approval rate.
Pick Rate
Approvals leading to origination77.33%
Dakota Community Bank & Trust has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 150.0 | 1 | $85,000 | $85,000 |
| 236.0 | 1 | $55,000 | $55,000 |
| 451.15 | 1 | $75,000 | $75,000 |
| NA | 244 | $62,250,000 | $255,123 |