Western National Bank Mortgage Rates, Fees & Info
Duluth, MNLEI: 549300BPU3QTJ3ZRVE07
Tax ID: 41-0607570
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Mortgage Data
Review & Overview
Western National Bank is a smaller bank specializing in Cash Out Refi, Home Purchase, and Refi loans. Western National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Duluth, Grand Rapids, and Riverside among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Western National Bank has an average approval rate when compared to the average across all lenders. They have an 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.53% | 4/14/24 |
| 30 Year Conventional Refi | 6.80% | 4/14/24 |
| 30 Year Cash-out Refi | 5.33% | 4/14/24 |
| 15 Year Conventional Purchase | 6.59% | 4/14/24 |
| 15 Year Conventional Refi | 5.97% | 4/14/24 |
| 15 Year Cash-out Refi | 5.97% | 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. | ||
Western National Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
19Origination Dollar Volume (All Markets)
$3,865,000Top 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 |
|---|---|---|---|---|---|
| DULUTH, MN-WI (FHA|USDA|VA) | 17 | $3,325,000 | $195,588 | $0 | 0.00% |
| Grand Rapids, MN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Western National Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 28
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Similarity Rank: 624
Similarity Rank: 1152
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 19 | $3,865,000 | $203,421 | $0 | 0.00% |
For 2023, Western National Bank's most frequently originated type of loan was Conventional, with 19 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 10 | $1,560,000 | $156,000 | $0 | 0.00% |
| Home Purchase | 7 | $1,495,000 | $213,571 | $0 | 0.00% |
| Refi | 2 | $810,000 | $405,000 | $0 | 0.00% |
For 2023, Western National Bank's most frequently cited loan purpose was Cash Out Refi, with 10 originations. The 2nd most popular reason was Home Purchase, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 19 | $3,865,000 | $203,421 | $0 | 0.00% |
For 2023, Western National Bank's most frequently cited loan duration was Other, with 19 originations.
Loan Sizing
2023 saw Western National Bank place emphasis on $200k-400k loans with 9 originations, totaling $2,335,000 in origination value.
Applicant Income
Western National Bank lent most frequently to those with incomes in the $50k-75k range, with 5 originations. The second most popular income band? $150k-250k, with 3 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 19 | $3,865,000 | $203,421 | $0 | 0.00% |
Western National Bank lent most frequently to those with DTI ratios of Exempt%, with 19 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.00%
Western National Bank has a below average approval rate.
Pick Rate
Approvals leading to origination94.74%
Western National Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 19 | $3,865,000 | $203,421 |