Dakota Community Bank & Trust Mortgage Rates, Fees & Info

Hebron, ND

LEI: 5493002POZ4RFS6X0Z30

Tax ID: 45-0192605

5 stars - Updated: 2/25/24 - out of 5 stars, based on 18 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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, Phoenix, Spearfish, and Fargo among others. We have data for 11 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 about average 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.52% 2/25/24
30 Year Conventional Refi 6.49% 2/25/24
30 Year Cash-out Refi 6.67% 2/25/24
30 Year FHA Purchase 7.10% 2/25/24
30 Year FHA Refi 6.89% 2/25/24
30 Year VA Purchase 6.06% 2/25/24
30 Year VA Refi 5.50% 2/25/24
30 Year USDA Purchase 6.38% 2/25/24
15 Year Conventional Purchase 5.99% 2/25/24
15 Year Conventional Refi 6.26% 2/25/24
15 Year Cash-out Refi 6.26% 2/25/24
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

Estimated Loan Payment: Update the calculator values and click calculate payment!

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

320

Origination Dollar Volume (All Markets)

$74,290,000
Show all (8) awards

Relative Rate

Dakota Community Bank & Trust's average 30 year fixed mortgage rate was 4.61%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.15%.

Relative Fees (Closing Costs)

Dakota Community Bank & Trust's average total fees/closing costs for a 30 year fixed rate mortgage were $6,070.

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 $4,750.

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) 176 $42,660,000 $242,386 $5,348 4.63%
Dickinson, ND (FHA|USDA|VA) 98 $21,340,000 $217,755 $5,222 4.61%
Outside of Metro Areas 35 $6,405,000 $183,000 $5,069 4.64%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 4 $1,660,000 $415,000 $10,882 5.62%
Spearfish, SD (FHA|USDA|VA) 1 $585,000 $585,000 $0 5.29%
FARGO, ND-MN (FHA|USDA|VA) 1 $505,000 $505,000 $7,662 3.38%
GRAND FORKS, ND-MN (FHA|USDA|VA) 1 $345,000 $345,000 $6,724 5.38%
FORT COLLINS, CO (FHA|USDA|VA) 1 $255,000 $255,000 $4,789 4.00%
Jamestown, ND (FHA|USDA|VA) 1 $205,000 $205,000 $0 5.50%
Alexandria, MN (FHA|USDA|VA) 1 $185,000 $185,000 $5,625 5.65%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $145,000 $145,000 $0 5.00%
Dakota Community Bank & Trust's top markets include Bismarck, Dickinson, Phoenix, Spearfish, and Fargo among others.

Their top states include:
  • North Dakota (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • 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.

    WESTERN COOPERATIVE CREDIT UNION
    Similarity Rank: 35
    FIRST COMMUNITY CREDIT UNION
    Similarity Rank: 435
    Starion Bank
    Similarity Rank: 440
    American Bank Center
    Similarity Rank: 558
    CAPITAL CREDIT UNION
    Similarity Rank: 704
    First Western Bank & Trust
    Similarity Rank: 720
    Dakota Community Bank & Trust
    Similarity Rank: 825
    Choice Financial Group
    Similarity Rank: 1178
    Bremer Bank
    Similarity Rank: 2555
    FREEDOM MORTGAGE CORPORATION
    Similarity Rank: 3620

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 262 $59,800,000 $228,244 $4,636 4.76%
    FHA 27 $6,705,000 $248,333 $8,781 4.38%
    USDA 16 $2,980,000 $186,250 $5,856 4.41%
    VA 15 $4,805,000 $320,333 $9,462 3.38%

    For 2022, Dakota Community Bank & Trust's most frequently originated type of loan was Conventional, with 262 originations. Their 2nd most popular type was FHA, with 27 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 234 $61,190,000 $261,496 $5,925 4.70%
    Refi 32 $5,800,000 $181,250 $3,995 4.26%
    Cash Out Refi 26 $5,340,000 $205,385 $5,450 3.72%
    Home Improvement 15 $1,095,000 $73,000 $1,254 5.05%
    Other 13 $865,000 $66,538 $1,499 5.95%

    For 2022, Dakota Community Bank & Trust's most frequently cited loan purpose was Home Purchase, with 234 originations. The 2nd most popular reason was Refi, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 223 $58,575,000 $262,668 $6,070 4.61%
    15 Year 36 $6,510,000 $180,833 $3,723 3.96%
    20 Year 20 $4,230,000 $211,500 $4,953 4.80%
    10 Year 16 $1,440,000 $90,000 $972 5.43%
    Other 13 $2,475,000 $190,385 $2,418 5.64%
    5 Year 9 $845,000 $93,889 $1,060 4.71%
    1 Year 2 $180,000 $90,000 $0 5.75%
    3 Year 1 $35,000 $35,000 $822 5.54%

    For 2022, Dakota Community Bank & Trust's most frequently cited loan duration was 30 Year, with 223 originations. The 2nd most popular length was 15 Year, with 36 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 64 $12,740,000 $199,063
    $<1k 62 $9,640,000 $155,484
    $3k-4k 56 $15,860,000 $283,214
    $1k-2k 46 $5,270,000 $114,565
    $5k+ 31 $14,365,000 $463,387
    $4k-5k 27 $9,675,000 $358,333

    Dakota Community Bank & Trust's average total fees were $6,070, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 64 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 93 $21,115,000 $227,043
    5-6% 93 $21,145,000 $227,366
    3-4% 57 $14,455,000 $253,596
    2.5-3% 30 $7,300,000 $243,333
    6-7% 21 $5,465,000 $260,238
    <2.5% 17 $3,675,000 $216,176
    7-8% 6 $1,000,000 $166,667
    Over 8% 3 $135,000 $45,000

    During 2022, Dakota Community Bank & Trust's average interest rate for loans was 4.61%, while their most frequently originated rate bucket for loans was 4-5%, with 93 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 128 $35,520,000 $277,500 $6,272 4.61%
    $100k-200k 101 $15,225,000 $150,743 $4,273 4.41%
    $100,000 or less 49 $2,885,000 $58,878 $1,751 5.27%
    $400k-600k 37 $17,395,000 $470,135 $8,093 4.62%
    $600k-1MM 5 $3,265,000 $653,000 $14,230 4.24%

    2022 saw Dakota Community Bank & Trust place emphasis on $200k-400k loans with 128 originations, totaling $35,520,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 78 $22,680,000 $290,769 $6,636 4.65%
    $50k-75k 77 $13,975,000 $181,494 $4,627 4.32%
    $75k-100k 53 $11,595,000 $218,774 $5,344 4.62%
    $150k-250k 35 $10,105,000 $288,714 $5,466 5.05%
    $50k or less 31 $4,345,000 $140,161 $3,914 4.58%
    $250k+ 13 $4,575,000 $351,923 $6,250 4.53%

    Dakota Community Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 78 originations. The second most popular income band? $50k-75k, with 77 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 75 $17,705,000 $236,067 $5,166 4.30%
    20-30% 58 $10,700,000 $184,483 $4,495 4.91%
    <20% 18 $2,690,000 $149,444 $3,388 4.29%
    42% 15 $3,905,000 $260,333 $5,980 4.41%
    44% 14 $3,550,000 $253,571 $6,513 5.19%
    38% 13 $3,415,000 $262,692 $6,905 4.53%
    41% 12 $2,810,000 $234,167 $5,658 4.16%
    46% 12 $3,080,000 $256,667 $5,061 4.88%
    37% 11 $3,005,000 $273,182 $5,971 4.57%
    39% 11 $2,995,000 $272,273 $7,083 4.08%
    36% 10 $2,910,000 $291,000 $6,066 4.89%
    43% 10 $1,940,000 $194,000 $3,861 4.95%
    40% 8 $2,210,000 $276,250 $5,079 5.47%
    47% 6 $1,720,000 $286,667 $6,202 4.23%
    48% 6 $2,140,000 $356,667 $6,446 5.23%
    49% 5 $1,225,000 $245,000 $5,286 4.33%
    50-60% 3 $755,000 $251,667 $15,490 4.91%
    45% 3 $915,000 $305,000 $5,832 4.92%
    >60% 1 $255,000 $255,000 $1,995 5.99%

    Dakota Community Bank & Trust lent most frequently to those with DTI ratios of 30-36%, with 75 originations. The next most common DTI ratio? 20-30%, with 58 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 282 $66,340,000 $235,248 $5,369 4.63%
    Not applicable 13 $3,235,000 $248,846 $0 4.79%
    Not provided 15 $2,315,000 $154,333 $3,870 4.92%
    American Indian 4 $970,000 $242,500 $6,829 4.37%
    Black 3 $595,000 $198,333 $6,466 4.17%
    Native Hawaiian or Islander 2 $460,000 $230,000 $7,007 4.25%
    Asian 1 $375,000 $375,000 $6,806 5.38%

    Approval Rates

    Total approvals of all applications
    92.70%

    Dakota Community Bank & Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.00%

    Dakota Community Bank & Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 320 $74,290,000 $232,156

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    320 $74,290,000 $232,156

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $3,285,000 $131,400 $2,476 5.05%
    40-60% 30 $6,210,000 $207,000 $4,484 4.34%
    60-80% 73 $18,395,000 $251,986 $5,825 4.54%
    80-100% 161 $43,145,000 $267,981 $6,047 4.59%
    Over 100% 6 $1,750,000 $291,667 $10,369 3.50%
    Under 20% 25 $1,505,000 $60,200 $812 5.53%