Bremer Bank Mortgage Rates, Fees & Info

St. Paul, MN

LEI: 54930082GM1TWV6QVI24

Tax ID: 41-0224890

3.7 stars - Updated: 5/26/24 - out of 5 stars, based on 46 reviews

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

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Mortgage Data

Review & Overview

Bremer Bank is a smaller bank specializing in Home Purchase loans. Bremer Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Minneapolis, Grand Forks, St. Cloud, Rochester, and Fargo among others. We have data for 60 markets. (Some data included below & more in-depth data is available with an active subscription.)

Bremer 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. Bremer Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.99% 5/26/24
30 Year Conventional Purchase 6.38% 5/26/24
30 Year Conventional Refi 6.03% 5/26/24
30 Year Cash-out Refi 6.42% 5/26/24
30 Year FHA Purchase 7.28% 5/26/24
30 Year FHA Refi 7.46% 5/26/24
30 Year VA Purchase 6.01% 5/26/24
30 Year VA Refi 6.27% 5/26/24
30 Year USDA Purchase 6.73% 5/26/24
15 Year Conventional Purchase 5.62% 5/26/24
15 Year Conventional Refi 5.71% 5/26/24
15 Year Cash-out Refi 5.71% 5/26/24
15 Year FHA Refi 5.68% 5/26/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Bremer Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Bremer Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

2,099

Origination Dollar Volume (All Markets)

$713,905,000
Show all (9) awards

Relative Rate

Bremer Bank's average 30 year fixed mortgage rate was 7.82%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 1.34%.

Relative Fees (Closing Costs)

Bremer Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $6,309.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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) 566 $291,610,000 $515,212 $7,380 7.50%
Outside of Metro Areas 402 $107,590,000 $267,637 $5,139 7.91%
GRAND FORKS, ND-MN (FHA|USDA|VA) 92 $48,950,000 $532,065 $5,596 7.61%
ST. CLOUD, MN (FHA|USDA|VA) 145 $36,305,000 $250,379 $6,141 7.76%
ROCHESTER, MN (FHA|USDA|VA) 136 $32,590,000 $239,632 $5,382 7.87%
FARGO, ND-MN (FHA|USDA|VA) 107 $27,425,000 $256,308 $5,135 7.34%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $21,005,000 $21,005,000 $0 8.32%
Brainerd, MN (FHA|USDA|VA) 69 $16,545,000 $239,783 $6,098 8.06%
Fergus Falls, MN (FHA|USDA|VA) 62 $15,470,000 $249,516 $5,581 8.12%
Willmar, MN (FHA|USDA|VA) 61 $14,265,000 $233,852 $5,281 7.95%
MANKATO, MN (FHA|USDA|VA) 53 $13,795,000 $260,283 $6,862 7.10%
Marshall, MN (FHA|USDA|VA) 52 $8,410,000 $161,731 $4,719 7.87%
Alexandria, MN (FHA|USDA|VA) 67 $7,735,000 $115,448 $5,130 8.79%
Wahpeton, ND-MN (FHA|USDA|VA) 45 $6,955,000 $154,556 $5,153 7.88%
EAU CLAIRE, WI (FHA|USDA|VA) 22 $5,800,000 $263,636 $4,141 7.16%
Owatonna, MN (FHA|USDA|VA) 32 $5,790,000 $180,938 $5,124 7.88%
Jamestown, ND (FHA|USDA|VA) 2 $5,150,000 $2,575,000 $0 7.75%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 10 $4,880,000 $488,000 $9,599 6.86%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 8 $4,620,000 $577,500 $8,300 6.18%
Winona, MN (FHA|USDA|VA) 24 $3,850,000 $160,417 $4,914 8.07%
DULUTH, MN-WI (FHA|USDA|VA) 10 $3,210,000 $321,000 $5,625 6.66%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 12 $3,050,000 $254,167 $3,801 7.11%
BISMARCK, ND (FHA|USDA|VA) 9 $2,855,000 $317,222 $7,928 7.06%
Faribault-Northfield, MN (FHA|USDA|VA) 7 $2,225,000 $317,857 $7,859 7.45%
Menomonie, WI (FHA|USDA|VA) 15 $2,225,000 $148,333 $3,458 7.66%
Red Wing, MN (FHA|USDA|VA) 6 $2,130,000 $355,000 $5,647 6.71%
Austin, MN (FHA|USDA|VA) 18 $1,890,000 $105,000 $4,454 8.77%
Hutchinson, MN (FHA|USDA|VA) 5 $1,625,000 $325,000 $6,874 6.28%
PUNTA GORDA, FL (FHA|USDA|VA) 3 $1,395,000 $465,000 $8,943 5.75%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $1,255,000 $418,333 $8,341 6.98%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $1,110,000 $555,000 $6,402 7.03%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $860,000 $430,000 $6,466 5.88%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $855,000 $855,000 $16,826 6.38%
Brookings, SD (FHA|USDA|VA) 3 $775,000 $258,333 $5,571 6.65%
Bemidji, MN (FHA|USDA|VA) 5 $775,000 $155,000 $6,398 8.38%
MADISON, WI (FHA|USDA|VA) 2 $770,000 $385,000 $3,481 7.96%
Worthington, MN (FHA|USDA|VA) 2 $620,000 $310,000 $10,947 7.59%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $610,000 $305,000 $2,468 6.94%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $575,000 $575,000 $8,999 7.50%
New Ulm, MN (FHA|USDA|VA) 4 $540,000 $135,000 $4,941 7.42%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 2 $540,000 $270,000 $3,075 6.25%
Grand Rapids, MN (FHA|USDA|VA) 1 $525,000 $525,000 $0 6.65%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $515,000 $515,000 $10,382 6.38%
Minot, ND (FHA|USDA|VA) 7 $495,000 $70,714 $0 9.48%
GAINESVILLE, FL (FHA|USDA|VA) 1 $405,000 $405,000 $6,723 6.75%
Spearfish, SD (FHA|USDA|VA) 1 $405,000 $405,000 $7,979 5.88%
APPLETON, WI (FHA|USDA|VA) 2 $380,000 $190,000 $6,318 8.15%
Fairmont, MN (FHA|USDA|VA) 2 $350,000 $175,000 $7,653 8.46%
Stevens Point, WI (FHA|USDA|VA) 1 $335,000 $335,000 $3,437 6.13%
TUCSON, AZ (FHA|USDA|VA) 3 $305,000 $101,667 $3,211 8.33%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $295,000 $295,000 $5,296 7.00%
THE VILLAGES, FL (FHA|USDA|VA) 1 $275,000 $275,000 $7,077 7.25%
SIOUX FALLS, SD (FHA|USDA|VA) 1 $215,000 $215,000 $0 7.00%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $215,000 $215,000 $6,016 8.63%
OCALA, FL (FHA|USDA|VA) 1 $155,000 $155,000 $0 9.55%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $145,000 $145,000 $0 8.80%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $135,000 $135,000 $0 6.63%
Dickinson, ND (FHA|USDA|VA) 1 $55,000 $55,000 $0 11.80%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $35,000 $35,000 $0 10.05%
Mason City, IA (FHA|USDA|VA) 1 $35,000 $35,000 $0 9.80%
Bremer Bank's top markets include Minneapolis, Grand Forks, St. Cloud, Rochester, and Fargo among others.

Their top states include:
  • Minnesota (FHA|USDA|VA)
  • North Dakota (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Bremer Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,222 $611,240,000 $500,196 $5,965 6.57%
    HELOC 804 $86,530,000 $107,624 n/a 9.57%
    FHA 48 $9,240,000 $192,500 $7,717 6.46%
    VA 15 $5,375,000 $358,333 $8,845 6.56%
    USDA 10 $1,520,000 $152,000 $5,806 6.44%

    For 2023, Bremer Bank's most frequently originated type of loan was Conventional, with 1,222 originations. Their 2nd most popular type was HELOC, with 804 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,102 $574,000,000 $520,871 $6,359 6.58%
    Other 438 $48,240,000 $110,137 $0 9.59%
    Refi 297 $53,345,000 $179,613 $4,395 8.75%
    Home Improvement 135 $12,185,000 $90,259 $0 9.65%
    Cash Out Refi 127 $26,135,000 $205,787 $4,573 6.73%

    For 2023, Bremer Bank's most frequently cited loan purpose was Home Purchase, with 1,102 originations. The 2nd most popular reason was Other, with 438 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,908 $482,800,000 $253,040 $6,309 7.82%
    15 Year 56 $14,890,000 $265,893 $5,033 6.10%
    5 Year 51 $137,005,000 $2,686,373 $0 7.10%
    10 Year 46 $39,510,000 $858,913 $1,124 6.89%
    20 Year 35 $6,195,000 $177,000 $4,093 6.67%
    Other 2 $33,450,000 $16,725,000 $0 5.98%
    1 Year 1 $55,000 $55,000 $0 8.75%

    For 2023, Bremer Bank's most frequently cited loan duration was 30 Year, with 1,908 originations. The 2nd most popular length was 15 Year, with 56 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 295 $64,125,000 $217,373
    $3k-4k 237 $69,545,000 $293,439
    $5k+ 211 $148,345,000 $703,057
    $1k-2k 189 $38,465,000 $203,519
    $<1k 170 $56,080,000 $329,882
    $4k-5k 102 $38,300,000 $375,490

    Bremer Bank's average total fees were $6,309, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 295 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 834 $116,960,000 $140,240
    6-7% 660 $224,710,000 $340,470
    7-8% 290 $131,400,000 $453,103
    5-6% 273 $208,715,000 $764,524
    4-5% 41 $30,215,000 $736,951
    2.5-3% 1 $1,905,000 $1,905,000

    During 2023, Bremer Bank's average interest rate for loans was 7.82%, while their most frequently originated rate bucket for loans was Over 8%, with 834 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 632 $173,490,000 $274,509 $5,691 7.13%
    $100,000 or less 583 $29,675,000 $50,901 $2,509 9.09%
    $100k-200k 535 $76,335,000 $142,682 $4,245 7.80%
    $400k-600k 162 $79,410,000 $490,185 $7,518 6.55%
    $600k-1MM 126 $93,880,000 $745,079 $10,460 6.15%
    $1MM+ 61 $261,115,000 $4,280,574 $13,411 6.29%

    2023 saw Bremer Bank place emphasis on $200k-400k loans with 632 originations, totaling $173,490,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 416 $81,730,000 $196,466 $5,871 7.89%
    $150k-250k 395 $120,645,000 $305,430 $6,945 7.61%
    $50k-75k 354 $46,140,000 $130,339 $4,610 7.76%
    $75k-100k 329 $53,145,000 $161,535 $4,748 7.96%
    $250k+ 323 $178,935,000 $553,978 $9,489 7.32%
    $50k or less 164 $14,660,000 $89,390 $3,831 7.89%

    Bremer Bank lent most frequently to those with incomes in the $100k-150k range, with 416 originations. The second most popular income band? $150k-250k, with 395 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 436 $97,650,000 $223,968 $5,903 7.87%
    30-36% 383 $94,105,000 $245,705 $5,361 7.63%
    <20% 195 $40,965,000 $210,077 $5,147 8.07%
    44% 149 $38,635,000 $259,295 $7,966 8.32%
    42% 97 $32,955,000 $339,742 $6,401 7.47%
    39% 94 $24,360,000 $259,149 $6,541 7.50%
    38% 82 $25,510,000 $311,098 $7,104 7.42%
    41% 79 $25,345,000 $320,823 $6,441 7.24%
    36% 77 $20,845,000 $270,714 $5,902 7.68%
    40% 75 $15,945,000 $212,600 $5,645 7.77%
    37% 68 $18,790,000 $276,324 $6,066 7.56%
    43% 62 $13,070,000 $210,806 $6,913 8.31%
    49% 51 $12,975,000 $254,412 $6,004 6.80%
    48% 36 $8,140,000 $226,111 $5,883 7.11%
    47% 29 $8,395,000 $289,483 $5,996 6.70%
    45% 22 $4,090,000 $185,909 $5,019 7.23%
    46% 22 $5,410,000 $245,909 $5,961 7.26%
    50-60% 22 $5,230,000 $237,727 $6,885 8.10%
    >60% 20 $9,490,000 $474,500 $10,901 7.53%

    Bremer Bank lent most frequently to those with DTI ratios of 20-30%, with 436 originations. The next most common DTI ratio? 30-36%, with 383 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,544 $406,040,000 $262,979 $6,048 7.51%
    Not applicable 54 $205,080,000 $3,797,778 $0 7.12%
    Not provided 415 $75,815,000 $182,687 $6,253 8.73%
    Asian 35 $13,335,000 $381,000 $6,425 6.84%
    Black 28 $8,010,000 $286,071 $6,646 7.23%
    American Indian 17 $3,285,000 $193,235 $4,466 7.20%
    Asian Indian 3 $1,675,000 $558,333 $5,752 5.25%
    Other Asian 1 $355,000 $355,000 $12,652 6.88%
    Native Hawaiian or Islander 2 $310,000 $155,000 $4,720 6.06%

    Approval Rates

    Total approvals of all applications
    92.39%

    Bremer Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.28%

    Bremer Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,099 $713,905,000 $340,117

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,099 $713,905,000 $340,117

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 388 $71,290,000 $183,737 $4,123 8.84%
    40-60% 205 $46,145,000 $225,098 $5,001 7.79%
    60-80% 443 $324,715,000 $732,991 $6,376 6.79%
    80-100% 661 $248,335,000 $375,696 $6,547 6.67%
    Over 100% 2 $1,010,000 $505,000 $23,530 6.25%
    Under 20% 400 $22,410,000 $56,025 $1,381 9.36%