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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.52% | 12/16/24 |
| 30 Year Conventional Refi | 6.49% | 12/16/24 |
| 30 Year Cash-out Refi | 6.67% | 12/16/24 |
| 30 Year FHA Purchase | 7.10% | 12/16/24 |
| 30 Year FHA Refi | 6.89% | 12/16/24 |
| 30 Year VA Purchase | 6.06% | 12/16/24 |
| 30 Year VA Refi | 5.50% | 12/16/24 |
| 30 Year USDA Purchase | 6.38% | 12/16/24 |
| 15 Year Conventional Purchase | 5.99% | 12/16/24 |
| 15 Year Conventional Refi | 6.26% | 12/16/24 |
| 15 Year Cash-out Refi | 6.26% | 12/16/24 |
| 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™
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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 |