St. Cloud Financial Mortgage Rates, Fees & Info

Saint Cloud, MN

LEI: 549300ANTUZH5AQQXR02

Tax ID: 41-0517445

5 stars - Updated: 4/14/24 - out of 5 stars, based on 17 reviews

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

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Mortgage Data

Review & Overview

St. Cloud Financial is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. St. Cloud Financial has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: St. Cloud, Minneapolis, Brainerd, Willmar, and Cape Coral among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

St. Cloud Financial 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. St. Cloud Financial 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.65% 4/14/24
30 Year Conventional Refi 6.64% 4/14/24
30 Year Cash-out Refi 6.77% 4/14/24
30 Year FHA Purchase 6.27% 4/14/24
30 Year VA Purchase 5.94% 4/14/24
30 Year USDA Purchase 6.26% 4/14/24
15 Year Conventional Purchase 6.42% 4/14/24
15 Year Conventional Refi 6.34% 4/14/24
15 Year Cash-out Refi 6.34% 4/14/24
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.

St. Cloud Financial Mortgage Calculator






Your Estimates

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

This is not an official calculator from St. Cloud Financial. 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

299

Origination Dollar Volume (All Markets)

$44,505,000

Awards

ST. CLOUD FINANCIAL 30 Year Conventional Loans silver ST. CLOUD FINANCIAL 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

St. Cloud Financial's average 30 year fixed mortgage rate was 6.37%.

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

This yields a difference of -0.11%.

Relative Fees (Closing Costs)

St. Cloud Financial's average total fees/closing costs for a 30 year fixed rate mortgage were $6,075.

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
ST. CLOUD, MN (FHA|USDA|VA) 185 $24,105,000 $130,297 $2,296 6.90%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 77 $12,995,000 $168,766 $2,818 6.83%
Brainerd, MN (FHA|USDA|VA) 11 $3,245,000 $295,000 $8,106 6.53%
Outside of Metro Areas 20 $2,690,000 $134,500 $2,323 6.86%
Willmar, MN (FHA|USDA|VA) 2 $740,000 $370,000 $6,877 6.75%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $235,000 $235,000 $4,175 3.25%
Wahpeton, ND-MN (FHA|USDA|VA) 1 $195,000 $195,000 $10,273 5.25%
PANAMA CITY, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,456 5.99%
Grand Rapids, MN (FHA|USDA|VA) 1 $145,000 $145,000 $3,506 7.25%
St. Cloud Financial's top markets include St. Cloud, Minneapolis, Brainerd, Willmar, and Cape Coral among others.

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

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

    South Metro Federal Credit Union
    Similarity Rank: 55
    MY Credit Union
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    Cornerstone State Bank
    Similarity Rank: 456
    SHAREPOINT CREDIT UNION
    Similarity Rank: 745
    Deerwood Bank
    Similarity Rank: 810
    Mortgages Unlimited Inc.
    Similarity Rank: 1122
    IDEAL
    Similarity Rank: 1152
    SPIRE Credit Union
    Similarity Rank: 1254
    ST. CLOUD FINANCIAL
    Similarity Rank: 1278
    WESTconsin Credit Union
    Similarity Rank: 1288

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 289 $41,845,000 $144,792 $2,392 6.87%
    VA 6 $1,740,000 $290,000 $10,133 6.48%
    USDA 4 $920,000 $230,000 $8,784 5.88%

    For 2023, St. Cloud Financial's most frequently originated type of loan was Conventional, with 289 originations. Their 2nd most popular type was VA, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 178 $10,700,000 $60,112 $955 7.19%
    Home Purchase 103 $27,455,000 $266,553 $5,861 6.39%
    Refi 11 $2,315,000 $210,455 $2,976 5.77%
    Home Improvement 7 $4,035,000 $576,429 $0 6.54%

    For 2023, St. Cloud Financial's most frequently cited loan purpose was Cash Out Refi, with 178 originations. The 2nd most popular reason was Home Purchase, with 103 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 93 $25,785,000 $277,258 $6,075 6.37%
    Other 71 $8,795,000 $123,873 $1,115 6.72%
    15 Year 49 $4,045,000 $82,551 $1,298 7.56%
    10 Year 40 $1,900,000 $47,500 $667 7.66%
    5 Year 40 $2,840,000 $71,000 $590 6.69%
    3 Year 4 $840,000 $210,000 $436 6.37%
    20 Year 2 $300,000 $150,000 $3,313 4.63%

    For 2023, St. Cloud Financial's most frequently cited loan duration was 30 Year, with 93 originations. The 2nd most popular length was Other, with 71 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 172 $10,390,000 $60,407
    $1k-2k 44 $9,290,000 $211,136
    $2k-3k 19 $3,625,000 $190,789
    $4k-5k 19 $6,245,000 $328,684
    $3k-4k 18 $4,080,000 $226,667
    $5k+ 17 $7,945,000 $467,353

    St. Cloud Financial's average total fees were $6,075, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 172 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 127 $21,545,000 $169,646
    5-6% 67 $13,115,000 $195,746
    7-8% 62 $6,470,000 $104,355
    Over 8% 33 $2,375,000 $71,970
    3-4% 2 $250,000 $125,000
    4-5% 1 $415,000 $415,000
    <2.5% 1 $35,000 $35,000

    During 2023, St. Cloud Financial's average interest rate for loans was 6.37%, while their most frequently originated rate bucket for loans was 6-7%, with 127 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 166 $7,540,000 $45,422 $820 7.12%
    $100k-200k 55 $8,325,000 $151,364 $3,598 6.72%
    $200k-400k 54 $15,360,000 $284,444 $5,984 6.42%
    $400k-600k 18 $8,250,000 $458,333 $8,583 6.31%
    $600k-1MM 5 $3,935,000 $787,000 $8,825 6.15%
    $1MM+ 1 $1,095,000 $1,095,000 $0 6.50%

    2023 saw St. Cloud Financial place emphasis on $100,000 or less loans with 166 originations, totaling $7,540,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 79 $9,395,000 $118,924 $2,190 7.09%
    $50k-75k 69 $6,845,000 $99,203 $2,213 6.77%
    $150k-250k 66 $13,430,000 $203,485 $3,392 6.84%
    $75k-100k 44 $5,450,000 $123,864 $2,548 6.86%
    $50k or less 18 $1,490,000 $82,778 $2,562 6.38%
    $250k+ 13 $4,965,000 $381,923 $4,944 6.23%

    St. Cloud Financial lent most frequently to those with incomes in the $100k-150k range, with 79 originations. The second most popular income band? $50k-75k, with 69 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 68 $9,270,000 $136,324 $2,364 6.96%
    20-30% 63 $7,875,000 $125,000 $2,685 7.03%
    <20% 27 $3,665,000 $135,741 $1,861 6.24%
    39% 16 $3,130,000 $195,625 $3,881 6.75%
    42% 15 $1,865,000 $124,333 $2,796 6.56%
    41% 14 $1,630,000 $116,429 $1,905 7.52%
    38% 14 $1,320,000 $94,286 $1,869 7.03%
    44% 14 $2,230,000 $159,286 $3,179 6.70%
    37% 12 $2,320,000 $193,333 $4,080 6.50%
    40% 12 $1,460,000 $121,667 $2,570 6.63%
    43% 9 $1,145,000 $127,222 $2,034 6.90%
    36% 8 $1,340,000 $167,500 $3,243 7.21%
    45% 6 $2,720,000 $453,333 $5,436 6.63%
    47% 2 $510,000 $255,000 $3,186 6.81%
    50-60% 2 $350,000 $175,000 $4,143 5.93%
    49% 1 $275,000 $275,000 $6,274 6.50%
    48% 1 $185,000 $185,000 $5,102 6.00%

    St. Cloud Financial lent most frequently to those with DTI ratios of 30-36%, with 68 originations. The next most common DTI ratio? 20-30%, with 63 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 270 $39,830,000 $147,519 $2,704 6.84%
    Not applicable 10 $2,930,000 $293,000 $0 6.88%
    Not provided 12 $960,000 $80,000 $1,390 7.00%
    Black 3 $515,000 $171,667 $5,276 6.25%
    Asian 2 $200,000 $100,000 $1,432 7.99%
    Native Hawaiian or Islander 1 $55,000 $55,000 $459 6.99%
    American Indian 1 $15,000 $15,000 $895 5.75%

    Approval Rates

    Total approvals of all applications
    90.86%

    St. Cloud Financial has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.61%

    St. Cloud Financial has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 299 $44,505,000 $148,846

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    299 $44,505,000 $148,846

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 53 $4,595,000 $86,698 $1,354 7.34%
    40-60% 13 $2,385,000 $183,462 $3,010 6.27%
    60-80% 35 $8,885,000 $253,857 $4,379 6.66%
    80-100% 78 $23,140,000 $296,667 $5,832 6.30%
    Over 100% 2 $670,000 $335,000 $16,635 7.13%
    Under 20% 118 $4,830,000 $40,932 $691 7.10%