Bridgewater Bank Mortgage Rates, Fees & Info

Saint Louis Park, MN

LEI: 549300FKWBMLIMGZ7Q40

Tax ID: 03-0572894

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Mortgage Data

Review & Overview

Bridgewater Bank is a smaller bank specializing in Home Purchase loans. Bridgewater Bank has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Tampa, Nashville, St. Cloud, and Phoenix among others. We have data for 23 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

435

Origination Dollar Volume (All Markets)

$695,335,000

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) 382 $559,690,000 $1,465,157 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $17,790,000 $8,895,000 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $16,505,000 $16,505,000 $0 0.00%
ST. CLOUD, MN (FHA|USDA|VA) 5 $15,915,000 $3,183,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 4 $13,100,000 $3,275,000 $0 0.00%
Outside of Metro Areas 5 $11,905,000 $2,381,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 10 $7,760,000 $776,000 $0 0.00%
ROCHESTER, MN (FHA|USDA|VA) 5 $7,145,000 $1,429,000 $0 0.00%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $7,005,000 $7,005,000 $0 0.00%
FARGO, ND-MN (FHA|USDA|VA) 1 $6,255,000 $6,255,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $5,655,000 $5,655,000 $0 0.00%
RAPID CITY, SD (FHA|USDA|VA) 1 $5,525,000 $5,525,000 $0 0.00%
Menomonie, WI (FHA|USDA|VA) 1 $4,795,000 $4,795,000 $0 0.00%
FORT COLLINS, CO (FHA|USDA|VA) 1 $4,605,000 $4,605,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $3,680,000 $1,840,000 $0 0.00%
Faribault-Northfield, MN (FHA|USDA|VA) 1 $1,975,000 $1,975,000 $0 0.00%
MANKATO, MN (FHA|USDA|VA) 1 $1,915,000 $1,915,000 $0 0.00%
Brainerd, MN (FHA|USDA|VA) 4 $1,790,000 $447,500 $0 0.00%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $1,055,000 $1,055,000 $0 0.00%
DULUTH, MN-WI (FHA|USDA|VA) 2 $500,000 $250,000 $0 0.00%
SAVANNAH, GA (FHA|USDA|VA) 2 $470,000 $235,000 $0 0.00%
PITTSBURGH, PA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
Owatonna, MN (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Bridgewater Bank's top markets include Minneapolis, Tampa, Nashville, St. Cloud, and Phoenix among others.

Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 435 $695,335,000 $1,598,471 $0 0.00%

    For 2022, Bridgewater Bank's most frequently originated type of loan was Conventional, with 435 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 409 $626,205,000 $1,531,064 $0 0.00%
    Refi 16 $61,230,000 $3,826,875 $0 0.00%
    Home Improvement 8 $5,940,000 $742,500 $0 0.00%
    Other 2 $1,960,000 $980,000 $0 0.00%

    For 2022, Bridgewater Bank's most frequently cited loan purpose was Home Purchase, with 409 originations. The 2nd most popular reason was Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 435 $695,335,000 $1,598,471 $0 0.00%

    For 2022, Bridgewater Bank's most frequently cited loan duration was Other, with 435 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 156 $41,900,000 $268,590 $0 0.00%
    $1MM+ 94 $586,340,000 $6,237,660 $0 0.00%
    $100k-200k 85 $13,535,000 $159,235 $0 0.00%
    $400k-600k 49 $23,285,000 $475,204 $0 0.00%
    $600k-1MM 39 $29,265,000 $750,385 $0 0.00%
    $100,000 or less 12 $1,010,000 $84,167 $0 0.00%

    2022 saw Bridgewater Bank place emphasis on $200k-400k loans with 156 originations, totaling $41,900,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 29 $15,485,000 $533,966 $0 0.00%
    $150k-250k 9 $1,895,000 $210,556 $0 0.00%
    $100k-150k 5 $1,095,000 $219,000 $0 0.00%
    $50k or less 2 $1,910,000 $955,000 $0 0.00%
    $75k-100k 2 $430,000 $215,000 $0 0.00%
    $50k-75k 1 $75,000 $75,000 $0 0.00%

    Bridgewater Bank lent most frequently to those with incomes in the $250k+ range, with 29 originations. The second most popular income band? $150k-250k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 435 $695,335,000 $1,598,471 $0 0.00%

    Bridgewater Bank lent most frequently to those with DTI ratios of Exempt%, with 435 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 385 $672,095,000 $1,745,701 $0 0.00%
    White 47 $22,615,000 $481,170 $0 0.00%
    Not provided 3 $625,000 $208,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.24%

    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 origination
    71.72%

    Bridgewater Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 435 $695,335,000 $1,598,471

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    435 $695,335,000 $1,598,471