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 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
435Origination Dollar Volume (All Markets)
$695,335,000Top 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) | 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% |
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
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
2022 saw Bridgewater Bank place emphasis on $200k-400k loans with 156 originations, totaling $41,900,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications98.24%
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 origination71.72%
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 |