Bonanza Valley State Bank Mortgage Rates, Fees & Info
BROOTEN, MNLEI: 5493009OGIRBMW7R8T35
Tax ID: 41-0556700
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Mortgage Data
Review & Overview
Bonanza Valley State Bank is a smaller bank specializing in Home Purchase loans. Bonanza Valley State Bank has a high proportion of conventional loans. Their top markets by origination volume include: St. Cloud, Willmar, and Minneapolis among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Bonanza Valley State Bank has an average approval rate when compared to the average across all lenders.
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Originations
42Origination Dollar Volume (All Markets)
$5,590,000Top 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 |
|---|---|---|---|---|---|
| ST. CLOUD, MN (FHA|USDA|VA) | 23 | $2,355,000 | $102,391 | $0 | 0.00% |
| Willmar, MN (FHA|USDA|VA) | 6 | $1,430,000 | $238,333 | $0 | 0.00% |
| Outside of Metro Areas | 9 | $1,405,000 | $156,111 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 4 | $400,000 | $100,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 42 | $5,590,000 | $133,095 | $0 | 0.00% |
For 2018, Bonanza Valley State Bank's most frequently originated type of loan was Conventional, with 42 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 32 | $4,990,000 | $155,938 | $0 | 0.00% |
| Refi | 7 | $535,000 | $76,429 | $0 | 0.00% |
| Home Improvement | 3 | $65,000 | $21,667 | $0 | 0.00% |
For 2018, Bonanza Valley State Bank's most frequently cited loan purpose was Home Purchase, with 32 originations. The 2nd most popular reason was Refi, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 42 | $5,590,000 | $133,095 | $0 | 0.00% |
For 2018, Bonanza Valley State Bank's most frequently cited loan duration was Other, with 42 originations.
Loan Sizing
2018 saw Bonanza Valley State Bank place emphasis on $100,000 or less loans with 25 originations, totaling $1,185,000 in origination value.
Applicant Income
Bonanza Valley State Bank lent most frequently to those with incomes in the $50k-75k range, with 10 originations. The second most popular income band? $50k or less, with 10 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 42 | $5,590,000 | $133,095 | $0 | 0.00% |
Bonanza Valley State Bank lent most frequently to those with DTI ratios of Exempt%, with 42 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 35 | $3,985,000 | $113,857 | $0 | 0.00% |
| Not applicable | 7 | $1,605,000 | $229,286 | $0 | 0.00% |
Approval Rates
Total approvals of all applications80.77%
Bonanza Valley State Bank has a below average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 42 | $5,590,000 | $133,095 |