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

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  • 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. Their top markets by origination volume include: St. Cloud, Minneapolis, Brainerd, Alexandria, and Grand Forks among others. We have data for 6 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

    419

    Origination Dollar Volume (All Markets)

    $57,955,000
    Show all (6) 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) 299 $41,365,000 $138,344 $2,091 4.41%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 76 $11,450,000 $150,658 $2,268 4.59%
    Outside of Metro Areas 28 $3,030,000 $108,214 $1,755 4.28%
    Brainerd, MN (FHA|USDA|VA) 12 $1,360,000 $113,333 $1,829 5.32%
    Alexandria, MN (FHA|USDA|VA) 3 $705,000 $235,000 $2,715 4.33%
    GRAND FORKS, ND-MN (FHA|USDA|VA) 1 $45,000 $45,000 $358 6.00%
    St. Cloud Financial's top markets include St. Cloud, Minneapolis, Brainerd, Alexandria, and Grand Forks 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.

    South Metro Federal Credit Union
    Similarity Rank: 1088
    First National Bank of Elk River
    Similarity Rank: 1110
    ST. CLOUD FINANCIAL
    Similarity Rank: 1182
    WESTconsin Credit Union
    Similarity Rank: 1216
    IDEAL
    Similarity Rank: 1221
    SPIRE Credit Union
    Similarity Rank: 1368
    Liberty Bank Minnesota
    Similarity Rank: 1464
    FLAT BRANCH MORTGAGE, INC.
    Similarity Rank: 1518
    Cornerstone State Bank
    Similarity Rank: 2002
    Town & Country Banc Mortgage Services
    Similarity Rank: 2091

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 372 $47,290,000 $127,124 $1,836 4.55%
    VA 30 $7,120,000 $237,333 $3,728 3.66%
    USDA 17 $3,545,000 $208,529 $4,923 4.00%

    For 2019, St. Cloud Financial's most frequently originated type of loan was Conventional, with 372 originations. Their 2nd most popular type was VA, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 144 $28,920,000 $200,833 $3,323 4.23%
    Cash Out Refi 119 $13,975,000 $117,437 $1,750 4.01%
    Refi 94 $11,360,000 $120,851 $1,510 4.17%
    Other 59 $2,435,000 $41,271 $603 6.33%
    Home Improvement 3 $1,265,000 $421,667 $3,685 6.00%

    For 2019, St. Cloud Financial's most frequently cited loan purpose was Home Purchase, with 144 originations. The 2nd most popular reason was Cash Out Refi, with 119 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 179 $37,285,000 $208,296 $3,198 4.16%
    Other 131 $10,095,000 $77,061 $1,137 4.48%
    15 Year 30 $4,090,000 $136,333 $2,116 4.26%
    10 Year 27 $1,445,000 $53,519 $864 6.07%
    20 Year 25 $4,155,000 $166,200 $2,234 4.12%
    5 Year 25 $795,000 $31,800 $484 5.38%
    3 Year 2 $90,000 $45,000 $539 4.56%

    For 2019, St. Cloud Financial's most frequently cited loan duration was 30 Year, with 179 originations. The 2nd most popular length was Other, with 131 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 310 $41,400,000 $133,548
    $1k-2k 92 $12,430,000 $135,109
    $2k-3k 10 $2,590,000 $259,000
    $3k-4k 3 $775,000 $258,333
    $4k-5k 1 $375,000 $375,000
    $5k+ 1 $255,000 $255,000

    St. Cloud Financial's average total fees were $3,198, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 310 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 200 $32,290,000 $161,450
    4-5% 117 $18,155,000 $155,171
    5-6% 38 $3,730,000 $98,158
    2.5-3% 27 $1,795,000 $66,481
    6-7% 13 $905,000 $69,615
    Over 8% 13 $575,000 $44,231
    7-8% 10 $410,000 $41,000

    During 2019, St. Cloud Financial's average interest rate for loans was 4.16%, while their most frequently originated rate bucket for loans was 3-4%, with 200 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 190 $10,140,000 $53,368 $992 4.92%
    $100k-200k 123 $18,955,000 $154,106 $2,514 4.10%
    $200k-400k 98 $25,210,000 $257,245 $3,570 4.05%
    $400k-600k 8 $3,650,000 $456,250 $3,442 4.39%

    2019 saw St. Cloud Financial place emphasis on $100,000 or less loans with 190 originations, totaling $10,140,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 117 $14,635,000 $125,085 $2,169 4.31%
    $75k-100k 93 $13,355,000 $143,602 $2,025 4.48%
    $100k-150k 87 $13,685,000 $157,299 $2,200 4.65%
    $50k or less 76 $9,430,000 $124,079 $2,027 4.32%
    $150k-250k 38 $5,330,000 $140,263 $1,984 4.69%
    $250k+ 8 $1,520,000 $190,000 $1,785 4.87%

    St. Cloud Financial lent most frequently to those with incomes in the $50k-75k range, with 117 originations. The second most popular income band? $75k-100k, with 93 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 102 $13,230,000 $129,706 $1,961 4.20%
    30-36% 76 $9,770,000 $128,553 $1,927 4.80%
    <20% 60 $7,140,000 $119,000 $1,557 4.02%
    38% 24 $4,000,000 $166,667 $2,787 4.64%
    44% 22 $3,590,000 $163,182 $2,546 4.98%
    37% 19 $2,515,000 $132,368 $2,472 4.41%
    36% 14 $2,290,000 $163,571 $2,299 4.67%
    39% 13 $1,855,000 $142,692 $2,440 4.61%
    40% 13 $1,765,000 $135,769 $2,161 4.26%
    46% 13 $1,815,000 $139,615 $2,301 4.53%
    41% 12 $1,910,000 $159,167 $2,187 4.91%
    42% 11 $1,025,000 $93,182 $1,791 5.08%
    47% 9 $1,925,000 $213,889 $2,869 4.01%
    45% 8 $1,100,000 $137,500 $1,947 4.58%
    49% 7 $1,615,000 $230,714 $3,050 4.30%
    43% 7 $1,065,000 $152,143 $2,010 5.05%
    48% 4 $610,000 $152,500 $1,884 4.22%
    50-60% 2 $450,000 $225,000 $5,303 4.25%
    >60% 2 $190,000 $95,000 $1,586 4.75%

    St. Cloud Financial lent most frequently to those with DTI ratios of 20-30%, with 102 originations. The next most common DTI ratio? 30-36%, with 76 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 407 $56,275,000 $138,268 $2,094 4.47%
    Black 4 $760,000 $190,000 $2,469 4.19%
    Asian 6 $740,000 $123,333 $1,755 4.83%
    Filipino 1 $135,000 $135,000 $3,799 3.50%
    Other Pacific Islander 1 $45,000 $45,000 $695 2.99%

    Approval Rates

    Total approvals of all applications
    95.44%

    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
    94.99%

    St. Cloud Financial has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 419 $57,955,000 $138,317

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 419 $57,955,000 $138,317

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 61 $3,795,000 $62,213 $948 4.91%
    40-60% 50 $5,620,000 $112,400 $1,541 3.75%
    60-80% 96 $15,170,000 $158,021 $2,187 4.25%
    80-100% 139 $30,525,000 $219,604 $3,398 4.12%
    Over 100% 3 $535,000 $178,333 $5,465 4.79%
    Under 20% 69 $2,215,000 $32,101 $580 5.56%