Bridgewater Bank Mortgage Rates, Fees & Info
Saint Louis Park, MNLEI: 549300FKWBMLIMGZ7Q40
Tax ID: 03-0572894
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Mortgage Data
Review & Overview
Bridgewater Bank is a smaller bank specializing in Home Purchase and Refi loans. Bridgewater Bank has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Mankato, Hutchinson, Iowa City, and Denver among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)Bridgewater Bank 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.
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Originations
237Origination Dollar Volume (All Markets)
$143,105,000Top 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 210 | $120,670,000 | $574,619 | $0 | 0.00% |
| MANKATO, MN (FHA|USDA|VA) | 1 | $3,585,000 | $3,585,000 | $0 | 0.00% |
| Hutchinson, MN (FHA|USDA|VA) | 2 | $2,900,000 | $1,450,000 | $0 | 0.00% |
| IOWA CITY, IA (FHA|USDA|VA) | 1 | $2,555,000 | $2,555,000 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $2,105,000 | $2,105,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 2 | $1,460,000 | $730,000 | $0 | 0.00% |
| Austin, MN (FHA|USDA|VA) | 1 | $1,425,000 | $1,425,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $1,365,000 | $1,365,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $1,295,000 | $1,295,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $1,175,000 | $1,175,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $930,000 | $465,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $0 | 0.00% |
| Spirit Lake, IA (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $0 | 0.00% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 0.00% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $415,000 | $138,333 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 237 | $143,105,000 | $603,819 | $0 | 0.00% |
For 2023, Bridgewater Bank's most frequently originated type of loan was Conventional, with 237 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 224 | $97,860,000 | $436,875 | $0 | 0.00% |
| Refi | 10 | $45,000,000 | $4,500,000 | $0 | 0.00% |
| Home Improvement | 3 | $245,000 | $81,667 | $0 | 0.00% |
For 2023, Bridgewater Bank's most frequently cited loan purpose was Home Purchase, with 224 originations. The 2nd most popular reason was Refi, with 10 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 237 | $143,105,000 | $603,819 | $0 | 0.00% |
For 2023, Bridgewater Bank's most frequently cited loan duration was Other, with 237 originations.
Loan Sizing
2023 saw Bridgewater Bank place emphasis on $200k-400k loans with 103 originations, totaling $27,205,000 in origination value.
Applicant Income
Bridgewater Bank lent most frequently to those with incomes in the $250k+ range, with 9 originations. The second most popular income band? $150k-250k, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 237 | $143,105,000 | $603,819 | $0 | 0.00% |
Bridgewater Bank lent most frequently to those with DTI ratios of Exempt%, with 237 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.99%
Bridgewater Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination76.79%
Bridgewater Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 237 | $143,105,000 | $603,819 |