Bankvista Mortgage Rates, Fees & Info

Sartell, MN

LEI: 549300H1I95THVU5ZB04

Tax ID: 41-1962072

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Mortgage Data

Review & Overview

Bankvista is a smaller bank specializing in Home Purchase loans. Bankvista 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Minneapolis, St. Cloud, Mankato, Marshall, and Winona among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

Bankvista 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.

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 6.14% 4/14/24
30 Year Conventional Refi 6.64% 4/14/24
30 Year Cash-out Refi 6.61% 4/14/24
30 Year FHA Purchase 7.01% 4/14/24
30 Year VA Purchase 5.89% 4/14/24
30 Year USDA Purchase 6.23% 4/14/24
15 Year Conventional Purchase 5.82% 4/14/24
15 Year Conventional Refi 6.06% 4/14/24
15 Year Cash-out Refi 6.06% 4/14/24
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.

Bankvista Mortgage Calculator






Your Estimates

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

This is not an official calculator from Bankvista. 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

132

Origination Dollar Volume (All Markets)

$51,180,000

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) 31 $13,755,000 $443,710 $0 0.00%
Outside of Metro Areas 9 $12,215,000 $1,357,222 $0 0.00%
ST. CLOUD, MN (FHA|USDA|VA) 45 $9,305,000 $206,778 $0 0.00%
MANKATO, MN (FHA|USDA|VA) 17 $4,295,000 $252,647 $0 0.00%
Marshall, MN (FHA|USDA|VA) 1 $3,355,000 $3,355,000 $0 0.00%
Winona, MN (FHA|USDA|VA) 9 $1,175,000 $130,556 $0 0.00%
Alexandria, MN (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $925,000 $925,000 $0 0.00%
Brainerd, MN (FHA|USDA|VA) 2 $820,000 $410,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $765,000 $765,000 $0 0.00%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $685,000 $685,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $660,000 $330,000 $0 0.00%
Baraboo, WI (FHA|USDA|VA) 1 $385,000 $385,000 $0 0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
Faribault-Northfield, MN (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
Willmar, MN (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
Grand Rapids, MN (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
ROCHESTER, MN (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
Fergus Falls, MN (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
Hutchinson, MN (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Fairmont, MN (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Bankvista's top markets include Minneapolis, St. Cloud, Mankato, Marshall, and Winona among others.

Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Similar Lenders

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

    South Metro Federal Credit Union
    Similarity Rank: 55
    MY Credit Union
    Similarity Rank: 225
    Cornerstone State Bank
    Similarity Rank: 456
    IOWA BANKERS MORTGAGE CORPORATION
    Similarity Rank: 464
    SHAREPOINT CREDIT UNION
    Similarity Rank: 745
    Deerwood Bank
    Similarity Rank: 810
    Mortgages Unlimited Inc.
    Similarity Rank: 1122
    IDEAL
    Similarity Rank: 1152
    SPIRE Credit Union
    Similarity Rank: 1254
    ST. CLOUD FINANCIAL
    Similarity Rank: 1278

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 125 $49,485,000 $395,880 $0 0.00%
    FHA 6 $1,400,000 $233,333 $0 0.00%
    USDA 1 $295,000 $295,000 $0 0.00%

    For 2023, Bankvista's most frequently originated type of loan was Conventional, with 125 originations. Their 2nd most popular type was FHA, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 112 $47,800,000 $426,786 $0 0.00%
    Refi 13 $2,545,000 $195,769 $0 0.00%
    Other 4 $730,000 $182,500 $0 0.00%
    Home Improvement 3 $105,000 $35,000 $0 0.00%

    For 2023, Bankvista's most frequently cited loan purpose was Home Purchase, with 112 originations. The 2nd most popular reason was Refi, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 132 $51,180,000 $387,727 $0 0.00%

    For 2023, Bankvista's most frequently cited loan duration was Other, with 132 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 39 $10,665,000 $273,462 $0 0.00%
    $100k-200k 33 $5,105,000 $154,697 $0 0.00%
    $100,000 or less 25 $1,275,000 $51,000 $0 0.00%
    $400k-600k 17 $8,115,000 $477,353 $0 0.00%
    $600k-1MM 11 $8,475,000 $770,455 $0 0.00%
    $1MM+ 7 $17,545,000 $2,506,429 $0 0.00%

    2023 saw Bankvista place emphasis on $200k-400k loans with 39 originations, totaling $10,665,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 20 $4,130,000 $206,500 $0 0.00%
    $50k-75k 20 $3,040,000 $152,000 $0 0.00%
    $250k+ 19 $9,385,000 $493,947 $0 0.00%
    $150k-250k 18 $7,150,000 $397,222 $0 0.00%
    $50k or less 14 $1,670,000 $119,286 $0 0.00%
    $75k-100k 11 $2,775,000 $252,273 $0 0.00%

    Bankvista lent most frequently to those with incomes in the $100k-150k range, with 20 originations. The second most popular income band? $50k-75k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 132 $51,180,000 $387,727 $0 0.00%

    Bankvista lent most frequently to those with DTI ratios of Exempt%, with 132 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 98 $26,940,000 $274,898 $0 0.00%
    Not applicable 28 $22,370,000 $798,929 $0 0.00%
    Not provided 3 $1,055,000 $351,667 $0 0.00%
    Asian 1 $615,000 $615,000 $0 0.00%
    American Indian 2 $200,000 $100,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.93%

    Bankvista 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
    92.42%

    Bankvista has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 132 $51,180,000 $387,727

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    132 $51,180,000 $387,727