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 Refi, 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 Alexandria among others. We have data for 8 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.

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    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

    573

    Origination Dollar Volume (All Markets)

    $95,255,000

    Awards

    ST. CLOUD FINANCIAL 30 Year Conventional Loans silver ST. CLOUD FINANCIAL VA Loans silver
    Show all (2) 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) 423 $66,995,000 $158,381 $2,548 3.72%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 110 $21,220,000 $192,909 $3,009 3.72%
    Outside of Metro Areas 29 $5,325,000 $183,621 $3,137 3.88%
    Brainerd, MN (FHA|USDA|VA) 5 $895,000 $179,000 $3,278 3.30%
    Willmar, MN (FHA|USDA|VA) 1 $245,000 $245,000 $2,480 2.88%
    Alexandria, MN (FHA|USDA|VA) 2 $230,000 $115,000 $2,465 3.13%
    DULUTH, MN-WI (FHA|USDA|VA) 2 $200,000 $100,000 $2,651 3.63%
    Fergus Falls, MN (FHA|USDA|VA) 1 $145,000 $145,000 $4,081 3.13%
    St. Cloud Financial's top markets include St. Cloud, Minneapolis, Brainerd, Willmar, and Alexandria 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.

    Peoples Bank Midwest
    Similarity Rank: 608
    Liberty Bank Minnesota
    Similarity Rank: 1036
    Town & Country Banc Mortgage Services
    Similarity Rank: 1444
    First Dakota National Bank
    Similarity Rank: 1517
    Anoka Hennepin Credit Union
    Similarity Rank: 1564
    VALLEY MORTGAGE, INC.
    Similarity Rank: 1876
    TOPLINE FEDERAL CREDIT UNION
    Similarity Rank: 1946
    South Metro Federal Credit Union
    Similarity Rank: 2244
    Cornerstone State Bank
    Similarity Rank: 2312
    ST. CLOUD FINANCIAL
    Similarity Rank: 2480

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 526 $85,280,000 $162,129 $2,488 3.75%
    VA 25 $5,705,000 $228,200 $4,320 3.07%
    USDA 19 $4,085,000 $215,000 $5,582 3.09%
    HELOC 3 $185,000 $61,667 n/a 10.00%

    For 2020, St. Cloud Financial's most frequently originated type of loan was Conventional, with 526 originations. Their 2nd most popular type was VA, with 25 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 211 $36,065,000 $170,924 $2,411 3.39%
    Home Purchase 151 $32,275,000 $213,742 $3,864 3.34%
    Cash Out Refi 146 $22,920,000 $156,986 $2,527 3.39%
    Other 60 $2,700,000 $45,000 $569 6.47%
    Home Improvement 3 $755,000 $251,667 $2,518 7.33%
    NA 2 $540,000 $270,000 $3,191 6.00%

    For 2020, St. Cloud Financial's most frequently cited loan purpose was Refi, with 211 originations. The 2nd most popular reason was Home Purchase, with 151 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 260 $56,640,000 $217,846 $3,509 3.31%
    Other 120 $11,520,000 $96,000 $1,537 4.66%
    15 Year 106 $17,340,000 $163,585 $2,596 3.33%
    20 Year 37 $6,965,000 $188,243 $2,787 3.22%
    10 Year 29 $2,105,000 $72,586 $1,050 5.03%
    5 Year 21 $685,000 $32,619 $550 4.59%

    For 2020, St. Cloud Financial's most frequently cited loan duration was 30 Year, with 260 originations. The 2nd most popular length was Other, with 120 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 332 $52,140,000 $157,048
    $1k-2k 136 $21,340,000 $156,912
    $2k-3k 66 $13,890,000 $210,455
    $3k-4k 21 $5,635,000 $268,333
    $4k-5k 3 $845,000 $281,667
    $5k+ 1 $515,000 $515,000

    St. Cloud Financial's average total fees were $3,509, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 332 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 247 $45,275,000 $183,300
    2.5-3% 205 $37,285,000 $181,878
    4-5% 40 $4,620,000 $115,500
    5-6% 35 $3,775,000 $107,857
    Over 8% 17 $1,095,000 $64,412
    <2.5% 13 $1,985,000 $152,692
    6-7% 11 $1,015,000 $92,273
    7-8% 3 $125,000 $41,667

    During 2020, St. Cloud Financial's average interest rate for loans was 3.31%, while their most frequently originated rate bucket for loans was 3-4%, with 247 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 223 $33,605,000 $150,695 $2,775 3.28%
    $100,000 or less 165 $9,305,000 $56,394 $1,224 4.73%
    $200k-400k 165 $43,085,000 $261,121 $3,751 3.32%
    $400k-600k 19 $8,635,000 $454,474 $3,713 3.66%
    $600k-1MM 1 $625,000 $625,000 $3,849 2.75%

    2020 saw St. Cloud Financial place emphasis on $100k-200k loans with 223 originations, totaling $33,605,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 165 $23,945,000 $145,121 $2,768 3.52%
    $100k-150k 122 $21,680,000 $177,705 $2,780 3.96%
    $75k-100k 115 $18,455,000 $160,478 $2,560 3.82%
    $50k or less 91 $12,425,000 $136,538 $2,664 3.42%
    $150k-250k 68 $14,340,000 $210,882 $2,410 4.06%
    $250k+ 12 $4,410,000 $367,500 $2,987 3.44%

    St. Cloud Financial lent most frequently to those with incomes in the $50k-75k range, with 165 originations. The second most popular income band? $100k-150k, with 122 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 160 $25,650,000 $160,313 $2,624 3.57%
    30-36% 132 $20,220,000 $153,182 $2,541 4.01%
    <20% 70 $11,360,000 $162,286 $2,602 3.34%
    38% 24 $4,430,000 $184,583 $2,761 4.16%
    39% 23 $4,275,000 $185,870 $2,939 3.33%
    37% 22 $3,580,000 $162,727 $2,988 3.42%
    40% 19 $3,135,000 $165,000 $2,979 3.78%
    44% 19 $3,955,000 $208,158 $4,010 3.58%
    43% 17 $3,285,000 $193,235 $2,670 3.68%
    42% 16 $3,110,000 $194,375 $3,126 3.37%
    36% 16 $2,060,000 $128,750 $2,177 5.26%
    41% 15 $2,625,000 $175,000 $2,434 3.63%
    49% 7 $1,565,000 $223,571 $3,231 3.61%
    48% 6 $1,280,000 $213,333 $3,516 3.31%
    >60% 6 $1,010,000 $168,333 $1,344 3.81%
    45% 6 $910,000 $151,667 $1,969 3.79%
    47% 5 $925,000 $185,000 $2,522 4.40%
    46% 5 $985,000 $197,000 $2,343 3.75%
    50-60% 4 $870,000 $217,500 $1,227 3.50%

    St. Cloud Financial lent most frequently to those with DTI ratios of 20-30%, with 160 originations. The next most common DTI ratio? 30-36%, with 132 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 564 $93,660,000 $166,064 $2,670 3.71%
    Black 6 $1,060,000 $176,667 $3,230 4.54%
    Asian 3 $535,000 $178,333 $2,595 3.08%

    Approval Rates

    Total approvals of all applications
    94.89%

    St. Cloud Financial has an average approval rate.

    Pick Rate

    Approvals leading to origination
    96.34%

    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
    0.0 3 $185,000 $61,667
    NA 570 $95,070,000 $166,789

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $465,000 $93,000
    Single Family (1-4 Units):Site-Built 568 $94,790,000 $166,884

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 67 $5,485,000 $81,866 $1,352 4.44%
    40-60% 79 $11,375,000 $143,987 $2,315 3.17%
    60-80% 176 $32,680,000 $185,682 $2,847 3.43%
    80-100% 186 $42,440,000 $228,172 $3,649 3.32%
    Over 100% 3 $1,165,000 $388,333 $7,143 5.00%
    Under 20% 62 $2,110,000 $34,032 $615 5.61%