St. Cloud Financial Mortgage Rates, Fees & Info

Saint Cloud, MN

LEI: 549300ANTUZH5AQQXR02

Tax ID: 41-0517445

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    St. Cloud Financial is a smaller mortgage company specializing in Home Purchase and Cash Out Refi 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 Fergus Falls among others. We have data for 10 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 an above average pick rate when compared to similar lenders. St. Cloud Financial is typically a low 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 about average 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
    30 Year Conventional Purchase 6.65% 12/23/24
    30 Year Conventional Refi 6.64% 12/23/24
    30 Year Cash-out Refi 6.77% 12/23/24
    30 Year FHA Purchase 6.27% 12/23/24
    30 Year VA Purchase 5.94% 12/23/24
    30 Year USDA Purchase 6.26% 12/23/24
    15 Year Conventional Purchase 6.42% 12/23/24
    15 Year Conventional Refi 6.34% 12/23/24
    15 Year Cash-out Refi 6.34% 12/23/24
    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

    406

    Origination Dollar Volume (All Markets)

    $55,150,000

    Awards

    ST. CLOUD FINANCIAL 30 Year Conventional Loans gold ST. CLOUD FINANCIAL 30 Year Conventional Loans bronze ST. CLOUD FINANCIAL VA Loans bronze ST. CLOUD FINANCIAL VA Loans silver
    Show all (4) awards

    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) 280 $37,740,000 $134,786 $2,005 4.79%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 83 $12,385,000 $149,217 $2,290 4.97%
    Outside of Metro Areas 29 $3,315,000 $114,310 $2,135 4.99%
    Brainerd, MN (FHA|USDA|VA) 6 $690,000 $115,000 $1,874 4.81%
    Willmar, MN (FHA|USDA|VA) 2 $480,000 $240,000 $4,989 4.88%
    Fergus Falls, MN (FHA|USDA|VA) 2 $300,000 $150,000 $2,054 5.44%
    MANKATO, MN (FHA|USDA|VA) 1 $135,000 $135,000 $2,386 5.13%
    Marshall, MN (FHA|USDA|VA) 1 $45,000 $45,000 $1,229 8.13%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $35,000 $35,000 $1,559 6.00%
    Alexandria, MN (FHA|USDA|VA) 1 $25,000 $25,000 $655 5.99%
    St. Cloud Financial's top markets include St. Cloud, Minneapolis, Brainerd, Willmar, and Fergus Falls among others.

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

    GREAT RIVER FEDERAL CREDIT UNION
    Similarity Rank: 12
    Cornerstone State Bank
    Similarity Rank: 408
    MEMBERS COOPERATIVE
    Similarity Rank: 630
    WESTconsin Credit Union
    Similarity Rank: 795
    SHAREPOINT CREDIT UNION
    Similarity Rank: 816
    South Metro Federal Credit Union
    Similarity Rank: 882
    First National Bank of Elk River
    Similarity Rank: 984
    First State Bank and Trust
    Similarity Rank: 1162
    St. Paul Federal Credit Union
    Similarity Rank: 1197
    Liberty Bank Minnesota
    Similarity Rank: 1236

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 371 $47,375,000 $127,695 $1,834 4.88%
    VA 27 $6,615,000 $245,000 $4,847 4.65%
    USDA 8 $1,160,000 $145,000 $4,179 4.50%

    For 2018, St. Cloud Financial's most frequently originated type of loan was Conventional, with 371 originations. Their 2nd most popular type was VA, with 27 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 168 $30,270,000 $180,179 $3,194 4.75%
    Cash Out Refi 86 $12,390,000 $144,070 $1,735 4.27%
    Other 77 $3,015,000 $39,156 $563 6.00%
    Refi 73 $9,035,000 $123,767 $1,506 4.56%
    Home Improvement 2 $440,000 $220,000 $2,774 6.00%

    For 2018, St. Cloud Financial's most frequently cited loan purpose was Home Purchase, with 168 originations. The 2nd most popular reason was Cash Out Refi, with 86 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 186 $35,560,000 $191,183 $3,076 4.74%
    Other 105 $8,685,000 $82,714 $1,175 4.82%
    15 Year 37 $4,255,000 $115,000 $1,353 5.07%
    10 Year 31 $1,475,000 $47,581 $745 5.62%
    20 Year 28 $4,660,000 $166,429 $2,357 4.55%
    5 Year 19 $515,000 $27,105 $523 5.02%

    For 2018, St. Cloud Financial's most frequently cited loan duration was 30 Year, with 186 originations. The 2nd most popular length was Other, with 105 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 309 $39,175,000 $126,780
    $1k-2k 82 $11,990,000 $146,220
    $2k-3k 9 $2,375,000 $263,889
    $3k-4k 3 $865,000 $288,333
    $4k-5k 1 $235,000 $235,000

    St. Cloud Financial's average total fees were $3,076, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 309 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 236 $39,270,000 $166,398
    3-4% 75 $8,435,000 $112,467
    5-6% 63 $6,025,000 $95,635
    6-7% 11 $435,000 $39,545
    7-8% 10 $460,000 $46,000
    Over 8% 10 $480,000 $48,000
    2.5-3% 1 $45,000 $45,000

    During 2018, St. Cloud Financial's average interest rate for loans was 4.74%, while their most frequently originated rate bucket for loans was 4-5%, with 236 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 165 $8,585,000 $52,030 $990 5.26%
    $100k-200k 157 $22,835,000 $145,446 $2,365 4.57%
    $200k-400k 75 $19,765,000 $263,533 $3,417 4.63%
    $400k-600k 9 $3,965,000 $440,556 $5,964 4.63%

    2018 saw St. Cloud Financial place emphasis on $100,000 or less loans with 165 originations, totaling $8,585,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 100 $15,000,000 $150,000 $2,109 4.90%
    $50k-75k 99 $12,885,000 $130,152 $2,302 4.85%
    $75k-100k 90 $11,950,000 $132,778 $2,044 4.97%
    $50k or less 79 $7,395,000 $93,608 $1,776 4.76%
    $150k-250k 32 $6,890,000 $215,313 $2,251 4.68%
    $250k+ 5 $905,000 $181,000 $1,543 5.04%

    St. Cloud Financial lent most frequently to those with incomes in the $100k-150k range, with 100 originations. The second most popular income band? $50k-75k, with 99 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 105 $15,395,000 $146,619 $2,107 4.70%
    30-36% 105 $14,125,000 $134,524 $1,966 4.96%
    <20% 36 $3,740,000 $103,889 $1,686 4.54%
    41% 19 $2,615,000 $137,632 $2,270 4.80%
    42% 17 $1,815,000 $106,765 $1,675 5.32%
    40% 15 $2,215,000 $147,667 $2,108 4.74%
    45% 14 $1,710,000 $122,143 $2,354 4.44%
    39% 14 $2,260,000 $161,429 $3,789 4.91%
    36% 13 $1,265,000 $97,308 $1,608 4.98%
    38% 12 $1,220,000 $101,667 $1,749 5.12%
    37% 12 $1,750,000 $145,833 $2,157 4.74%
    44% 10 $880,000 $88,000 $1,248 5.92%
    43% 9 $1,185,000 $131,667 $1,810 5.05%
    49% 6 $1,200,000 $200,000 $4,501 4.83%
    50-60% 5 $535,000 $107,000 $1,441 5.70%
    46% 5 $1,655,000 $331,000 $3,276 4.45%
    48% 3 $485,000 $161,667 $2,320 4.96%
    47% 3 $485,000 $161,667 $2,027 4.96%
    >60% 2 $490,000 $245,000 $2,567 4.94%

    St. Cloud Financial lent most frequently to those with DTI ratios of 20-30%, with 105 originations. The next most common DTI ratio? 30-36%, with 105 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 396 $53,920,000 $136,162 $2,075 4.87%
    Black 4 $530,000 $132,500 $2,803 4.78%
    Asian 3 $435,000 $145,000 $2,495 4.33%
    Other Pacific Islander 1 $135,000 $135,000 $1,839 4.63%
    American Indian 2 $130,000 $65,000 $1,304 4.37%

    Approval Rates

    Total approvals of all applications
    98.14%

    St. Cloud Financial has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    96.31%

    St. Cloud Financial has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 406 $55,150,000 $135,837

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 406 $55,150,000 $135,837

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 41 $2,795,000 $68,171 $920 4.90%
    40-60% 43 $4,925,000 $114,535 $1,629 4.47%
    60-80% 107 $17,715,000 $165,561 $2,210 4.63%
    80-100% 135 $26,325,000 $195,000 $3,140 4.67%
    Over 100% 3 $785,000 $261,667 $11,001 4.83%
    Under 20% 77 $2,605,000 $33,831 $566 5.70%