Sherburne State Bank Mortgage Rates, Fees & Info
Becker, MNLEI: 549300GWO8DN75PL7X16
Tax ID: 41-0522410
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Sherburne State Bank is a smaller bank specializing in Home Purchase loans. Sherburne State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, St. Cloud, Cape Coral, Brainerd, and Duluth among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Sherburne State Bank 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.
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Originations
183Origination Dollar Volume (All Markets)
$40,625,000Top 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) | 128 | $27,730,000 | $216,641 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 25 | $4,855,000 | $194,200 | $0 | 0.00% |
| Outside of Metro Areas | 14 | $3,400,000 | $242,857 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $1,320,000 | $660,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 5 | $1,085,000 | $217,000 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $0 | 0.00% |
| Hutchinson, MN (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| Alexandria, MN (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 0.00% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Bemidji, MN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 183 | $40,625,000 | $221,995 | $0 | 0.00% |
For 2023, Sherburne State Bank's most frequently originated type of loan was Conventional, with 183 originations.
Loan Reason
For 2023, Sherburne State Bank's most frequently cited loan purpose was Home Purchase, with 110 originations. The 2nd most popular reason was Home Improvement, with 39 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 183 | $40,625,000 | $221,995 | $0 | 0.00% |
For 2023, Sherburne State Bank's most frequently cited loan duration was Other, with 183 originations.
Loan Sizing
2023 saw Sherburne State Bank place emphasis on $200k-400k loans with 76 originations, totaling $21,820,000 in origination value.
Applicant Income
Sherburne State Bank lent most frequently to those with incomes in the $100k-150k range, with 48 originations. The second most popular income band? $150k-250k, with 42 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 183 | $40,625,000 | $221,995 | $0 | 0.00% |
Sherburne State Bank lent most frequently to those with DTI ratios of Exempt%, with 183 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.98%
Sherburne State Bank has an average approval rate.
Pick Rate
Approvals leading to origination93.44%
Sherburne State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 183 | $40,625,000 | $221,995 |