Pine River State Bank Mortgage Rates, Fees & Info

Pine River, MN

LEI: 5493003VXRP1TSRJCM25

Tax ID: 41-0482260

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Mortgage Data

Review & Overview

Pine River State Bank is a smaller bank specializing in Home Purchase loans. Pine River State Bank has a high proportion of conventional loans. Their top (well, only) market is Minneapolis.

Pine River State 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

65

Origination Dollar Volume (All Markets)

$12,785,000

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
Outside of Metro Areas 49 $9,115,000 $186,020 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 16 $3,670,000 $229,375 $0 0.00%
Pine River State Bank's top markets include and Minneapolis among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 65 $12,785,000 $196,692 $0 0.00%

    For 2023, Pine River State Bank's most frequently originated type of loan was Conventional, with 65 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 31 $7,905,000 $255,000 $0 0.00%
    Other 13 $1,625,000 $125,000 $0 0.00%
    Refi 13 $1,895,000 $145,769 $0 0.00%
    Home Improvement 8 $1,360,000 $170,000 $0 0.00%

    For 2023, Pine River State Bank's most frequently cited loan purpose was Home Purchase, with 31 originations. The 2nd most popular reason was Other, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 65 $12,785,000 $196,692 $0 0.00%

    For 2023, Pine River State Bank's most frequently cited loan duration was Other, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 27 $1,515,000 $56,111 $0 0.00%
    $200k-400k 18 $4,830,000 $268,333 $0 0.00%
    $100k-200k 12 $1,660,000 $138,333 $0 0.00%
    $400k-600k 5 $2,605,000 $521,000 $0 0.00%
    $600k-1MM 3 $2,175,000 $725,000 $0 0.00%

    2023 saw Pine River State Bank place emphasis on $100,000 or less loans with 27 originations, totaling $1,515,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 16 $1,350,000 $84,375 $0 0.00%
    $100k-150k 11 $2,565,000 $233,182 $0 0.00%
    $150k-250k 10 $3,930,000 $393,000 $0 0.00%
    $50k or less 9 $775,000 $86,111 $0 0.00%
    $75k-100k 9 $1,065,000 $118,333 $0 0.00%
    $250k+ 6 $2,460,000 $410,000 $0 0.00%

    Pine River State Bank lent most frequently to those with incomes in the $50k-75k range, with 16 originations. The second most popular income band? $100k-150k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 65 $12,785,000 $196,692 $0 0.00%

    Pine River State Bank lent most frequently to those with DTI ratios of Exempt%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 59 $11,915,000 $201,949 $0 0.00%
    Not applicable 3 $605,000 $201,667 $0 0.00%
    Asian 1 $115,000 $115,000 $0 0.00%
    American Indian 1 $105,000 $105,000 $0 0.00%
    Not provided 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.04%

    Pine River State Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    78.46%

    Pine River State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 65 $12,785,000 $196,692

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    65 $12,785,000 $196,692