Citizens Independent Bank Mortgage Rates, Fees & Info

St Louis Park, MN

LEI: 5493003JI7ZC424UAF50

Tax ID: 41-0683497

Latest/2024 | 2023 Data | 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

    Citizens Independent Bank is a smaller bank specializing in Home Purchase and Refi loans. Citizens Independent Bank has a high proportion of conventional loans. Their top (well, only) market is Minneapolis.

    Citizens Independent Bank 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.

    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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    Originations

    24

    Origination Dollar Volume (All Markets)

    $4,870,000

    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) 24 $4,870,000 $202,917 $0 0.00%
    Citizens Independent Bank's top markets include and Minneapolis among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 24 $4,870,000 $202,917 $0 0.00%

    For 2024, Citizens Independent Bank's most frequently originated type of loan was Conventional, with 24 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 14 $2,910,000 $207,857 $0 0.00%
    Refi 8 $1,250,000 $156,250 $0 0.00%
    Cash Out Refi 2 $710,000 $355,000 $0 0.00%

    For 2024, Citizens Independent Bank's most frequently cited loan purpose was Home Purchase, with 14 originations. The 2nd most popular reason was Refi, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 24 $4,870,000 $202,917 $0 0.00%

    For 2024, Citizens Independent Bank's most frequently cited loan duration was Other, with 24 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 10 $1,620,000 $162,000 $0 0.00%
    $200k-400k 8 $2,130,000 $266,250 $0 0.00%
    $100,000 or less 4 $170,000 $42,500 $0 0.00%
    $400k-600k 2 $950,000 $475,000 $0 0.00%

    2024 saw Citizens Independent Bank place emphasis on $100k-200k loans with 10 originations, totaling $1,620,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 4 $1,080,000 $270,000 $0 0.00%
    $100k-150k 2 $260,000 $130,000 $0 0.00%
    $50k-75k 2 $70,000 $35,000 $0 0.00%

    Citizens Independent Bank lent most frequently to those with incomes in the $150k-250k range, with 4 originations. The second most popular income band? $100k-150k, with 2 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 24 $4,870,000 $202,917 $0 0.00%

    Citizens Independent Bank lent most frequently to those with DTI ratios of Exempt%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 16 $3,460,000 $216,250 $0 0.00%
    White 8 $1,410,000 $176,250 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.55%

    Citizens Independent Bank 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
    83.33%

    Citizens Independent Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 24 $4,870,000 $202,917

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    24 $4,870,000 $202,917