Liberty Bank Minnesota Mortgage Rates, Fees & Info

St. Cloud, MN

LEI: 549300DM47883NLNBK72

Tax ID: 41-0376477

5 stars - Updated: 4/16/25 - out of 5 stars, based on 17 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Liberty Bank Minnesota is a smaller bank specializing in Home Purchase and Refi loans. Liberty Bank Minnesota has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: St. Cloud, Minneapolis, Brainerd, Fergus Falls, and Duluth among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Liberty Bank Minnesota 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. Liberty Bank Minnesota 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 6.82% 4/16/25
    30 Year Conventional Refi 6.74% 4/16/25
    30 Year Cash-out Refi 6.82% 4/16/25
    30 Year FHA Purchase 7.40% 4/16/25
    30 Year USDA Purchase 6.72% 4/16/25
    15 Year Conventional Purchase 6.52% 4/16/25
    15 Year Conventional Refi 6.00% 4/16/25
    15 Year Cash-out Refi 6.00% 4/16/25
    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.

    Liberty Bank Minnesota Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Liberty Bank Minnesota. 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

    276

    Origination Dollar Volume (All Markets)

    $67,780,000

    Awards

    Liberty Bank Minnesota 30 Year Conventional Loans gold Liberty Bank Minnesota 30 Year Conventional Loans gold Liberty Bank Minnesota 30 Year Conventional Loans silver
    Show all (3) awards

    Relative Rate

    Liberty Bank Minnesota's average 30 year fixed mortgage rate was 6.65%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.1%.

    Relative Fees (Closing Costs)

    Liberty Bank Minnesota's average total fees/closing costs for a 30 year fixed rate mortgage were $2,966.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    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) 174 $38,860,000 $223,333 $2,059 6.64%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 75 $19,965,000 $266,200 $2,535 6.75%
    Outside of Metro Areas 14 $4,990,000 $356,429 $2,905 6.59%
    Brainerd, MN (FHA|USDA|VA) 4 $1,210,000 $302,500 $2,423 6.97%
    Fergus Falls, MN (FHA|USDA|VA) 1 $695,000 $695,000 $1,485 7.13%
    DULUTH, MN-WI (FHA|USDA|VA) 2 $480,000 $240,000 $125 6.81%
    Willmar, MN (FHA|USDA|VA) 1 $385,000 $385,000 $3,658 6.50%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $375,000 $375,000 $874 7.00%
    ROCHESTER, MN (FHA|USDA|VA) 1 $275,000 $275,000 $3,177 6.88%
    Bemidji, MN (FHA|USDA|VA) 1 $235,000 $235,000 $2,118 6.88%
    MANKATO, MN (FHA|USDA|VA) 1 $205,000 $205,000 $2,289 6.00%
    Alexandria, MN (FHA|USDA|VA) 1 $105,000 $105,000 $1,393 5.50%
    Liberty Bank Minnesota's top markets include St. Cloud, Minneapolis, Brainerd, Fergus Falls, and Duluth among others.

    Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Liberty Bank Minnesota based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    MY Credit Union
    Similarity Rank: 130
    SHAREPOINT CREDIT UNION
    Similarity Rank: 348
    ST. CLOUD FINANCIAL
    Similarity Rank: 861
    VERIDIAN CREDIT UNION
    Similarity Rank: 915
    Cornerstone State Bank
    Similarity Rank: 936
    TOPLINE FEDERAL CREDIT UNION
    Similarity Rank: 975
    IDEAL
    Similarity Rank: 1200
    University of Wisconsin Credit Union
    Similarity Rank: 1295
    Liberty Bank Minnesota
    Similarity Rank: 1320
    Citizens Community Federal
    Similarity Rank: 1343

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 272 $66,610,000 $244,890 $2,147 6.67%
    FHA 4 $1,170,000 $292,500 $7,331 6.69%

    For 2024, Liberty Bank Minnesota's most frequently originated type of loan was Conventional, with 272 originations. Their 2nd most popular type was FHA, with 4 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 152 $44,120,000 $290,263 $3,263 6.55%
    Refi 49 $15,725,000 $320,918 $1,536 6.64%
    Other 37 $3,735,000 $100,946 $432 6.98%
    Home Improvement 22 $1,300,000 $59,091 $41 7.03%
    Cash Out Refi 16 $2,900,000 $181,250 $2,309 6.76%

    For 2024, Liberty Bank Minnesota's most frequently cited loan purpose was Home Purchase, with 152 originations. The 2nd most popular reason was Refi, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 159 $49,465,000 $311,101 $2,966 6.65%
    Other 106 $16,470,000 $155,377 $1,009 6.89%
    15 Year 7 $1,285,000 $183,571 $1,954 6.05%
    20 Year 4 $560,000 $140,000 $4,037 3.19%

    For 2024, Liberty Bank Minnesota's most frequently cited loan duration was 30 Year, with 159 originations. The 2nd most popular length was Other, with 106 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 155 $32,165,000 $207,516
    $1k-2k 78 $21,920,000 $281,026
    $2k-3k 13 $4,075,000 $313,462
    $3k-4k 12 $4,050,000 $337,500
    $4k-5k 4 $1,500,000 $375,000
    $5k+ 4 $2,020,000 $505,000

    Liberty Bank Minnesota's average total fees were $2,966, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 155 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 193 $49,095,000 $254,378
    7-8% 54 $11,410,000 $211,296
    5-6% 25 $6,855,000 $274,200
    <2.5% 3 $85,000 $28,333
    4-5% 1 $335,000 $335,000

    During 2024, Liberty Bank Minnesota's average interest rate for loans was 6.65%, while their most frequently originated rate bucket for loans was 6-7%, with 193 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 128 $36,490,000 $285,078 $2,740 6.65%
    $100,000 or less 58 $3,020,000 $52,069 $177 6.64%
    $100k-200k 50 $7,770,000 $155,400 $1,864 6.71%
    $400k-600k 31 $14,105,000 $455,000 $3,983 6.79%
    $600k-1MM 9 $6,395,000 $710,556 $3,368 6.60%

    2024 saw Liberty Bank Minnesota place emphasis on $200k-400k loans with 128 originations, totaling $36,490,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 94 $22,950,000 $244,149 $2,491 6.79%
    $150k-250k 67 $18,385,000 $274,403 $2,156 6.85%
    $75k-100k 48 $10,670,000 $222,292 $1,815 6.71%
    $50k-75k 31 $5,365,000 $173,065 $1,782 6.17%
    $250k+ 20 $7,980,000 $399,000 $2,958 6.64%
    $50k or less 14 $1,930,000 $137,857 $2,059 6.12%

    Liberty Bank Minnesota lent most frequently to those with incomes in the $100k-150k range, with 94 originations. The second most popular income band? $150k-250k, with 67 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 50 $10,570,000 $211,400 $1,767 6.81%
    30-36% 47 $10,645,000 $226,489 $1,990 6.66%
    <20% 25 $4,725,000 $189,000 $1,609 6.77%
    40% 17 $3,845,000 $226,176 $1,858 6.73%
    39% 14 $2,370,000 $169,286 $1,478 6.93%
    38% 13 $2,565,000 $197,308 $2,206 6.65%
    42% 12 $3,660,000 $305,000 $2,312 6.72%
    37% 12 $3,090,000 $257,500 $2,805 6.27%
    41% 11 $2,085,000 $189,545 $2,000 5.63%
    36% 11 $4,335,000 $394,091 $3,303 6.73%
    44% 10 $3,000,000 $300,000 $3,356 6.61%
    50-60% 9 $2,695,000 $299,444 $2,578 6.68%
    43% 9 $2,185,000 $242,778 $3,174 6.75%
    49% 8 $2,800,000 $350,000 $2,676 6.55%
    45% 8 $2,810,000 $351,250 $3,332 6.97%
    47% 7 $2,645,000 $377,857 $1,574 6.71%
    48% 5 $1,985,000 $397,000 $4,201 6.80%
    46% 4 $1,000,000 $250,000 $4,185 6.53%
    >60% 2 $270,000 $135,000 $1,693 7.00%

    Liberty Bank Minnesota lent most frequently to those with DTI ratios of 20-30%, with 50 originations. The next most common DTI ratio? 30-36%, with 47 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 262 $64,020,000 $244,351 $2,196 6.67%
    Asian 6 $1,890,000 $315,000 $3,269 6.81%
    Not provided 4 $790,000 $197,500 $2,046 6.91%
    Black 2 $580,000 $290,000 $3,214 6.88%
    Not applicable 2 $500,000 $250,000 $0 6.69%

    Approval Rates

    Total approvals of all applications
    92.94%

    Liberty Bank Minnesota has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.22%

    Liberty Bank Minnesota has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 276 $67,780,000 $245,580

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    276 $67,780,000 $245,580

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 33 $4,275,000 $129,545 $921 6.66%
    40-60% 34 $10,020,000 $294,706 $2,501 6.59%
    60-80% 66 $22,560,000 $341,818 $3,383 6.75%
    80-100% 93 $28,185,000 $303,065 $2,919 6.64%
    Under 20% 50 $2,740,000 $54,800 $137 6.70%