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 Cash Out Refi, 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 Grand Rapids among others. We have data for 11 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% 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

    536

    Origination Dollar Volume (All Markets)

    $94,680,000

    Awards

    ST. CLOUD FINANCIAL VA Loans bronze ST. CLOUD FINANCIAL VA Loans gold ST. CLOUD FINANCIAL USDA Loans silver
    Show all (3) 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) 368 $63,910,000 $173,668 $2,683 3.12%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 109 $20,885,000 $191,606 $2,901 3.15%
    Outside of Metro Areas 39 $6,005,000 $153,974 $2,468 3.41%
    Brainerd, MN (FHA|USDA|VA) 8 $1,990,000 $248,750 $3,362 3.00%
    Willmar, MN (FHA|USDA|VA) 5 $905,000 $181,000 $3,855 2.80%
    Grand Rapids, MN (FHA|USDA|VA) 2 $370,000 $185,000 $4,324 2.81%
    Alexandria, MN (FHA|USDA|VA) 1 $175,000 $175,000 $1,623 1.99%
    Bemidji, MN (FHA|USDA|VA) 1 $135,000 $135,000 $1,995 2.49%
    Marshall, MN (FHA|USDA|VA) 1 $125,000 $125,000 $2,543 3.50%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $105,000 $105,000 $3,157 2.88%
    Fairmont, MN (FHA|USDA|VA) 1 $75,000 $75,000 $2,701 2.88%
    St. Cloud Financial's top markets include St. Cloud, Minneapolis, Brainerd, Willmar, and Grand Rapids among others.

    Their top states include:
  • Minnesota (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.

    Farmers & Merchants Savings Bank
    Similarity Rank: 720
    Anoka Hennepin Credit Union
    Similarity Rank: 826
    MY Credit Union
    Similarity Rank: 1200
    Bank Midwest
    Similarity Rank: 1740
    Liberty Bank Minnesota
    Similarity Rank: 1808
    Cf Bank
    Similarity Rank: 1953
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 2080
    Security Financial Bank
    Similarity Rank: 2160
    South Metro Federal Credit Union
    Similarity Rank: 2443
    TOPLINE FEDERAL CREDIT UNION
    Similarity Rank: 2496

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 505 $87,365,000 $173,000 $2,648 3.17%
    VA 20 $4,780,000 $239,000 $3,523 2.60%
    USDA 11 $2,535,000 $230,455 $5,336 2.68%

    For 2021, St. Cloud Financial's most frequently originated type of loan was Conventional, with 505 originations. Their 2nd most popular type was VA, with 20 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 189 $30,495,000 $161,349 $2,634 2.93%
    Refi 167 $29,455,000 $176,377 $2,427 3.05%
    Home Purchase 140 $32,350,000 $231,071 $3,788 3.01%
    Other 38 $1,680,000 $44,211 $675 4.82%
    Home Improvement 2 $700,000 $350,000 $3,963 6.00%

    For 2021, St. Cloud Financial's most frequently cited loan purpose was Cash Out Refi, with 189 originations. The 2nd most popular reason was Refi, with 167 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 241 $54,795,000 $227,365 $3,606 3.09%
    Other 109 $12,075,000 $110,780 $1,642 3.12%
    15 Year 104 $16,340,000 $157,115 $2,401 3.01%
    20 Year 49 $8,655,000 $176,633 $2,723 2.87%
    5 Year 20 $1,800,000 $90,000 $566 4.09%
    10 Year 13 $1,015,000 $78,077 $1,181 4.73%

    For 2021, St. Cloud Financial's most frequently cited loan duration was 30 Year, with 241 originations. The 2nd most popular length was Other, with 109 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 311 $53,665,000 $172,556
    $1k-2k 140 $21,370,000 $152,643
    $2k-3k 55 $10,975,000 $199,545
    $3k-4k 16 $4,310,000 $269,375
    $4k-5k 4 $1,310,000 $327,500
    $5k+ 4 $1,490,000 $372,500

    St. Cloud Financial's average total fees were $3,606, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 311 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 224 $42,780,000 $190,982
    3-4% 134 $27,010,000 $201,567
    <2.5% 130 $20,090,000 $154,538
    5-6% 20 $2,320,000 $116,000
    4-5% 16 $1,820,000 $113,750
    6-7% 6 $300,000 $50,000
    Over 8% 4 $250,000 $62,500
    7-8% 2 $110,000 $55,000

    During 2021, St. Cloud Financial's average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 2.5-3%, with 224 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 213 $31,805,000 $149,319 $2,843 2.94%
    $200k-400k 166 $44,070,000 $265,482 $3,626 3.00%
    $100,000 or less 136 $8,570,000 $63,015 $1,313 3.64%
    $400k-600k 20 $9,570,000 $478,500 $3,912 2.91%
    $600k-1MM 1 $665,000 $665,000 $0 3.50%

    2021 saw St. Cloud Financial place emphasis on $100k-200k loans with 213 originations, totaling $31,805,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 138 $20,760,000 $150,435 $2,718 3.29%
    $100k-150k 134 $25,130,000 $187,537 $2,555 3.29%
    $50k or less 98 $13,020,000 $132,857 $2,712 2.86%
    $75k-100k 98 $18,500,000 $188,776 $2,991 3.07%
    $150k-250k 54 $12,810,000 $237,222 $2,915 2.92%
    $250k+ 10 $3,140,000 $314,000 $2,209 3.23%

    St. Cloud Financial lent most frequently to those with incomes in the $50k-75k range, with 138 originations. The second most popular income band? $100k-150k, with 134 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 154 $25,450,000 $165,260 $2,587 3.00%
    30-36% 109 $20,365,000 $186,835 $2,806 3.09%
    <20% 62 $9,210,000 $148,548 $2,307 2.66%
    42% 22 $5,180,000 $235,455 $3,274 3.57%
    39% 21 $4,065,000 $193,571 $3,067 3.57%
    44% 21 $3,555,000 $169,286 $2,920 3.29%
    36% 20 $3,140,000 $157,000 $2,753 2.82%
    38% 20 $3,460,000 $173,000 $2,780 3.38%
    37% 16 $3,080,000 $192,500 $3,719 3.30%
    41% 15 $3,175,000 $211,667 $2,981 3.52%
    43% 15 $2,715,000 $181,000 $2,955 3.31%
    40% 15 $2,115,000 $141,000 $2,802 3.32%
    45% 14 $2,540,000 $181,429 $2,521 3.83%
    47% 8 $1,920,000 $240,000 $3,723 3.01%
    46% 7 $1,235,000 $176,429 $2,619 2.84%
    48% 6 $1,230,000 $205,000 $2,259 4.14%
    49% 4 $500,000 $125,000 $1,950 4.78%
    >60% 2 $290,000 $145,000 $1,806 2.75%
    50-60% 1 $135,000 $135,000 $2,277 3.50%

    St. Cloud Financial lent most frequently to those with DTI ratios of 20-30%, with 154 originations. The next most common DTI ratio? 30-36%, with 109 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 522 $91,710,000 $175,690 $2,741 3.13%
    Not applicable 4 $1,320,000 $330,000 $0 3.88%
    Black 6 $1,130,000 $188,333 $2,506 3.08%
    Not provided 2 $220,000 $110,000 $1,715 2.87%
    American Indian 1 $165,000 $165,000 $3,306 2.50%
    Asian 1 $135,000 $135,000 $3,779 3.13%

    Approval Rates

    Total approvals of all applications
    98.57%

    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
    97.01%

    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 536 $94,680,000 $176,642

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    536 $94,680,000 $176,642

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 69 $5,675,000 $82,246 $1,518 3.32%
    40-60% 89 $13,775,000 $154,775 $2,438 2.69%
    60-80% 176 $35,990,000 $204,489 $3,082 3.07%
    80-100% 156 $37,220,000 $238,590 $3,659 2.99%
    Under 20% 46 $2,020,000 $43,913 $735 4.47%