The First National Bank Of Le Center Mortgage Rates, Fees & Info

Le Center, MN

LEI: 5493002XYKZPDHNHJY97

Tax ID: 41-0371076

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    The First National Bank Of Le Center is a smaller bank specializing in Home Improvement and Home Purchase loans. The First National Bank Of Le Center has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Mankato, Faribault, and Brainerd among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The First National Bank Of Le Center has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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    Originations

    53

    Origination Dollar Volume (All Markets)

    $10,095,000

    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
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 38 $6,920,000 $182,105 $0 0.00%
    MANKATO, MN (FHA|USDA|VA) 6 $1,420,000 $236,667 $0 0.00%
    Faribault-Northfield, MN (FHA|USDA|VA) 6 $1,070,000 $178,333 $0 0.00%
    Outside of Metro Areas 2 $400,000 $200,000 $0 0.00%
    Brainerd, MN (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
    The First National Bank Of Le Center's top markets include Minneapolis, Mankato, Faribault, and Brainerd among others.

    Their top states include:
  • Minnesota (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 53 $10,095,000 $190,472 $0 0.00%

    For 2022, The First National Bank Of Le Center's most frequently originated type of loan was Conventional, with 53 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 25 $3,705,000 $148,200 $0 0.00%
    Home Purchase 19 $4,405,000 $231,842 $0 0.00%
    Refi 8 $1,910,000 $238,750 $0 0.00%
    Cash Out Refi 1 $75,000 $75,000 $0 0.00%

    For 2022, The First National Bank Of Le Center's most frequently cited loan purpose was Home Improvement, with 25 originations. The 2nd most popular reason was Home Purchase, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 53 $10,095,000 $190,472 $0 0.00%

    For 2022, The First National Bank Of Le Center's most frequently cited loan duration was Other, with 53 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 26 $7,150,000 $275,000 $0 0.00%
    $100,000 or less 16 $920,000 $57,500 $0 0.00%
    $100k-200k 10 $1,520,000 $152,000 $0 0.00%
    $400k-600k 1 $505,000 $505,000 $0 0.00%

    2022 saw The First National Bank Of Le Center place emphasis on $200k-400k loans with 26 originations, totaling $7,150,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 15 $2,745,000 $183,000 $0 0.00%
    $75k-100k 14 $2,440,000 $174,286 $0 0.00%
    $100k-150k 12 $2,820,000 $235,000 $0 0.00%
    $150k-250k 7 $1,185,000 $169,286 $0 0.00%
    $50k or less 4 $580,000 $145,000 $0 0.00%
    $250k+ 1 $325,000 $325,000 $0 0.00%

    The First National Bank Of Le Center lent most frequently to those with incomes in the $50k-75k range, with 15 originations. The second most popular income band? $75k-100k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 53 $10,095,000 $190,472 $0 0.00%

    The First National Bank Of Le Center lent most frequently to those with DTI ratios of Exempt%, with 53 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 52 $10,040,000 $193,077 $0 0.00%
    Asian 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.67%

    The First National Bank Of Le Center has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    90.57%

    The First National Bank Of Le Center has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 53 $10,095,000 $190,472

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    53 $10,095,000 $190,472