St. Cloud Financial Mortgage Rates, Fees & Info
Saint Cloud, MNLEI: 549300ANTUZH5AQQXR02
Tax ID: 41-0517445
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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, Duluth, and Willmar 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 a below 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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
344Origination Dollar Volume (All Markets)
$49,630,000Top 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) | 212 | $29,810,000 | $140,613 | $2,467 | 4.55% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 90 | $13,410,000 | $149,000 | $2,075 | 4.47% |
| Outside of Metro Areas | 29 | $3,785,000 | $130,517 | $2,194 | 4.65% |
| Brainerd, MN (FHA|USDA|VA) | 5 | $1,095,000 | $219,000 | $1,603 | 5.51% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,301 | 4.38% |
| Willmar, MN (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $4,662 | 3.31% |
| Hutchinson, MN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $5,337 | 3.13% |
| Grand Rapids, MN (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $1,323 | 3.37% |
| Bemidji, MN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,217 | 1.99% |
| Alexandria, MN (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $847 | 4.74% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 340 | $48,810,000 | $143,559 | $2,300 | 4.52% |
| VA | 3 | $645,000 | $215,000 | $5,865 | 4.63% |
| USDA | 1 | $175,000 | $175,000 | $6,753 | 6.13% |
For 2022, St. Cloud Financial's most frequently originated type of loan was Conventional, with 340 originations. Their 2nd most popular type was VA, with 3 originations.
Loan Reason
For 2022, St. Cloud Financial's most frequently cited loan purpose was Cash Out Refi, with 188 originations. The 2nd most popular reason was Home Purchase, with 102 originations.
Loan Duration/Length
For 2022, St. Cloud Financial's most frequently cited loan duration was 30 Year, with 106 originations. The 2nd most popular length was Other, with 106 originations.
Origination Fees/Closing Costs
St. Cloud Financial's average total fees were $4,560, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 193 originations.
Interest Rates
During 2022, St. Cloud Financial's average interest rate for loans was 5.03%, while their most frequently originated rate bucket for loans was 4-5%, with 80 originations.
Loan Sizing
2022 saw St. Cloud Financial place emphasis on $100,000 or less loans with 173 originations, totaling $8,805,000 in origination value.
Applicant Income
St. Cloud Financial lent most frequently to those with incomes in the $100k-150k range, with 91 originations. The second most popular income band? $50k-75k, with 76 originations.
Applicant Debt to Income Ratio
St. Cloud Financial lent most frequently to those with DTI ratios of 30-36%, with 75 originations. The next most common DTI ratio? 20-30%, with 74 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.74%
St. Cloud Financial has an average approval rate.
Pick Rate
Approvals leading to origination84.88%
St. Cloud Financial has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 344 | $49,630,000 | $144,273 |