Citizens Independent Bank Mortgage Rates, Fees & Info

St Louis Park, MN

LEI: 5493003JI7ZC424UAF50

Tax ID: 41-0683497

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
  • Complaints
  • 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 Cash Out Refi loans. Citizens Independent Bank has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Phoenix, Rochester, and Cape Coral among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Citizens Independent Bank 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.

    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

    43

    Origination Dollar Volume (All Markets)

    $9,115,000

    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 $7,480,000 $196,842 $0 0.00%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $1,090,000 $545,000 $0 0.00%
    ROCHESTER, MN (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
    Citizens Independent Bank's top markets include Minneapolis, Phoenix, Rochester, and Cape Coral among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 43 $9,115,000 $211,977 $0 0.00%

    For 2019, Citizens Independent Bank's most frequently originated type of loan was Conventional, with 43 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 17 $5,215,000 $306,765 $0 0.00%
    Cash Out Refi 16 $2,870,000 $179,375 $0 0.00%
    Refi 6 $870,000 $145,000 $0 0.00%
    Home Improvement 3 $115,000 $38,333 $0 0.00%
    Other 1 $45,000 $45,000 $0 0.00%

    For 2019, Citizens Independent Bank's most frequently cited loan purpose was Home Purchase, with 17 originations. The 2nd most popular reason was Cash Out Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 43 $9,115,000 $211,977 $0 0.00%

    For 2019, Citizens Independent Bank's most frequently cited loan duration was Other, with 43 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 15 $2,215,000 $147,667 $0 0.00%
    $100,000 or less 12 $720,000 $60,000 $0 0.00%
    $200k-400k 10 $2,650,000 $265,000 $0 0.00%
    $400k-600k 5 $2,525,000 $505,000 $0 0.00%
    $1MM+ 1 $1,005,000 $1,005,000 $0 0.00%

    2019 saw Citizens Independent Bank place emphasis on $100k-200k loans with 15 originations, totaling $2,215,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 10 $2,740,000 $274,000 $0 0.00%
    $75k-100k 10 $1,770,000 $177,000 $0 0.00%
    $100k-150k 8 $1,420,000 $177,500 $0 0.00%
    $250k+ 5 $2,195,000 $439,000 $0 0.00%
    $50k-75k 5 $595,000 $119,000 $0 0.00%
    $50k or less 5 $395,000 $79,000 $0 0.00%

    Citizens Independent Bank lent most frequently to those with incomes in the $150k-250k range, with 10 originations. The second most popular income band? $75k-100k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 43 $9,115,000 $211,977 $0 0.00%

    Citizens Independent Bank lent most frequently to those with DTI ratios of Exempt%, with 43 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 29 $6,535,000 $225,345 $0 0.00%
    Not provided 10 $1,740,000 $174,000 $0 0.00%
    Asian 3 $675,000 $225,000 $0 0.00%
    American Indian 1 $165,000 $165,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.00%

    Citizens Independent Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.70%

    Citizens Independent Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 43 $9,115,000 $211,977

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 43 $9,115,000 $211,977

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 10 4.3%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 6 2.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Incorrect information on your report 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 20 8.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 81 34.8%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 0.9%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Closing on a mortgage 3 1.3%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Incorrect information on your report 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Struggling to pay mortgage 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Trouble during payment process 13 5.6%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 11 4.7%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 9 3.9%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 8 3.4%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 52 22.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Closing on a mortgage 4 1.7%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Struggling to pay mortgage 2 0.9%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Trouble during payment process 3 1.3%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Applying for a mortgage or refinancing an existing mortgage 2 0.9%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Struggling to pay mortgage 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 2 0.9%