First State Bank And Trust Mortgage Rates, Fees & Info

Bayport, MN

LEI: 549300AO417FCNJGKM49

Tax ID: 41-0257270

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

Jump to:

Mortgage Data

Review & Overview

First State Bank And Trust is a smaller bank specializing in Home Purchase loans. First State Bank And Trust has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, New Haven, Hilton Head Island, Clarksville, and Crestview among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

First State Bank And Trust has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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.


Originations

112

Origination Dollar Volume (All Markets)

$34,990,000

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
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 96 $28,840,000 $300,417 $0 0.00%
Outside of Metro Areas 9 $2,615,000 $290,556 $0 0.00%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $1,195,000 $1,195,000 $0 0.00%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $605,000 $605,000 $0 0.00%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $475,000 $475,000 $0 0.00%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
Brainerd, MN (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
First State Bank And Trust's top markets include Minneapolis, New Haven, Hilton Head Island, Clarksville, and Crestview among others.

Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Montana (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against First State Bank and Trust 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: 55
    MY Credit Union
    Similarity Rank: 225
    Cornerstone State Bank
    Similarity Rank: 456
    SHAREPOINT CREDIT UNION
    Similarity Rank: 745
    Mortgages Unlimited Inc.
    Similarity Rank: 1122
    IDEAL
    Similarity Rank: 1152
    Liberty Bank Minnesota
    Similarity Rank: 1166
    ST. CLOUD FINANCIAL
    Similarity Rank: 1179
    SPIRE Credit Union
    Similarity Rank: 1254
    WESTconsin Credit Union
    Similarity Rank: 1288

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 112 $34,990,000 $312,411 $0 0.00%

    For 2023, First State Bank And Trust's most frequently originated type of loan was Conventional, with 112 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 65 $24,995,000 $384,538 $0 0.00%
    Refi 18 $4,310,000 $239,444 $0 0.00%
    Home Improvement 14 $1,960,000 $140,000 $0 0.00%
    Other 9 $1,975,000 $219,444 $0 0.00%
    Cash Out Refi 6 $1,750,000 $291,667 $0 0.00%

    For 2023, First State Bank And Trust's most frequently cited loan purpose was Home Purchase, with 65 originations. The 2nd most popular reason was Refi, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 112 $34,990,000 $312,411 $0 0.00%

    For 2023, First State Bank And Trust's most frequently cited loan duration was Other, with 112 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 47 $13,625,000 $289,894 $0 0.00%
    $100k-200k 22 $3,180,000 $144,545 $0 0.00%
    $400k-600k 20 $9,620,000 $481,000 $0 0.00%
    $100,000 or less 15 $755,000 $50,333 $0 0.00%
    $1MM+ 4 $5,200,000 $1,300,000 $0 0.00%
    $600k-1MM 4 $2,610,000 $652,500 $0 0.00%

    2023 saw First State Bank And Trust place emphasis on $200k-400k loans with 47 originations, totaling $13,625,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 23 $8,005,000 $348,043 $0 0.00%
    $100k-150k 19 $6,955,000 $366,053 $0 0.00%
    $75k-100k 15 $2,875,000 $191,667 $0 0.00%
    $50k-75k 12 $2,180,000 $181,667 $0 0.00%
    $250k+ 9 $3,665,000 $407,222 $0 0.00%
    $50k or less 9 $1,505,000 $167,222 $0 0.00%

    First State Bank And Trust lent most frequently to those with incomes in the $150k-250k range, with 23 originations. The second most popular income band? $100k-150k, with 19 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 112 $34,990,000 $312,411 $0 0.00%

    First State Bank And Trust lent most frequently to those with DTI ratios of Exempt%, with 112 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 80 $23,550,000 $294,375 $0 0.00%
    Not applicable 23 $9,205,000 $400,217 $0 0.00%
    Not provided 7 $1,525,000 $217,857 $0 0.00%
    American Indian 2 $710,000 $355,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.38%

    First State Bank And Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.36%

    First State Bank And Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 112 $34,990,000 $312,411

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    112 $34,990,000 $312,411