Woodlands National Bank Mortgage Rates, Fees & Info
Hinckley, MNLEI: 5493003QF1L7XNSWRM19
Tax ID: 41-0249720
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Mortgage Data
Review & Overview
Woodlands National Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Woodlands National Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Minneapolis, Duluth, Bemidji, Brainerd, and Owatonna among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Woodlands National Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
97Origination Dollar Volume (All Markets)
$16,765,000Top 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) | 41 | $8,905,000 | $217,195 | $0 | 0.00% |
| Outside of Metro Areas | 26 | $3,620,000 | $139,231 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 13 | $1,905,000 | $146,538 | $0 | 0.00% |
| Bemidji, MN (FHA|USDA|VA) | 8 | $1,020,000 | $127,500 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 5 | $585,000 | $117,000 | $0 | 0.00% |
| Owatonna, MN (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $0 | 0.00% |
| Grand Rapids, MN (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 75 | $12,815,000 | $170,867 | $0 | 0.00% |
| FHA | 22 | $3,950,000 | $179,545 | $0 | 0.00% |
For 2021, Woodlands National Bank's most frequently originated type of loan was Conventional, with 75 originations. Their 2nd most popular type was FHA, with 22 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 47 | $9,045,000 | $192,447 | $0 | 0.00% |
| Refi | 28 | $3,890,000 | $138,929 | $0 | 0.00% |
| Cash Out Refi | 22 | $3,830,000 | $174,091 | $0 | 0.00% |
For 2021, Woodlands National Bank's most frequently cited loan purpose was Home Purchase, with 47 originations. The 2nd most popular reason was Refi, with 28 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 97 | $16,765,000 | $172,835 | $0 | 0.00% |
For 2021, Woodlands National Bank's most frequently cited loan duration was Other, with 97 originations.
Loan Sizing
2021 saw Woodlands National Bank place emphasis on $100k-200k loans with 51 originations, totaling $7,435,000 in origination value.
Applicant Income
Woodlands National Bank lent most frequently to those with incomes in the $50k or less range, with 29 originations. The second most popular income band? $50k-75k, with 20 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 97 | $16,765,000 | $172,835 | $0 | 0.00% |
Woodlands National Bank lent most frequently to those with DTI ratios of Exempt%, with 97 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications73.49%
Woodlands National Bank has a below average approval rate.
Pick Rate
Approvals leading to origination74.23%
Woodlands National Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 97 | $16,765,000 | $172,835 |