Bankvista Mortgage Rates, Fees & Info

Sartell, MN

LEI: 549300H1I95THVU5ZB04

Tax ID: 41-1962072

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Mortgage Data

Bank Data

Review & Overview

Bankvista is a smaller bank specializing in Home Purchase loans. Bankvista has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Mankato, St. Cloud, Minneapolis, Brainerd, and Fairmont among others. We have data for 21 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 a below 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% 3/24/24
30 Year Conventional Refi 6.64% 3/24/24
30 Year Cash-out Refi 6.61% 3/24/24
30 Year FHA Purchase 7.01% 3/24/24
30 Year VA Purchase 5.89% 3/24/24
30 Year USDA Purchase 6.23% 3/24/24
15 Year Conventional Purchase 5.82% 3/24/24
15 Year Conventional Refi 6.06% 3/24/24
15 Year Cash-out Refi 6.06% 3/24/24
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

423

Origination Dollar Volume (All Markets)

$79,825,000

Employee count

67

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
MANKATO, MN (FHA|USDA|VA) 189 $31,915,000 $168,862 $0 0.00%
ST. CLOUD, MN (FHA|USDA|VA) 108 $20,070,000 $185,833 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 67 $17,215,000 $256,940 $0 0.00%
Outside of Metro Areas 33 $5,345,000 $161,970 $0 0.00%
Brainerd, MN (FHA|USDA|VA) 6 $1,630,000 $271,667 $0 0.00%
Fairmont, MN (FHA|USDA|VA) 3 $495,000 $165,000 $0 0.00%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
New Ulm, MN (FHA|USDA|VA) 3 $335,000 $111,667 $0 0.00%
Heber, UT (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
GRAND FORKS, ND-MN (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
Owatonna, MN (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
ROCHESTER, MN (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
Austin, MN (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Hutchinson, MN (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
DULUTH, MN-WI (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
Albert Lea, MN (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Bankvista's top markets include Mankato, St. Cloud, Minneapolis, Brainerd, and Fairmont among others.

Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Utah (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: 1088
    First National Bank of Elk River
    Similarity Rank: 1110
    ST. CLOUD FINANCIAL
    Similarity Rank: 1182
    WESTconsin Credit Union
    Similarity Rank: 1216
    IDEAL
    Similarity Rank: 1221
    SPIRE Credit Union
    Similarity Rank: 1368
    Liberty Bank Minnesota
    Similarity Rank: 1464
    FLAT BRANCH MORTGAGE, INC.
    Similarity Rank: 1518
    Cornerstone State Bank
    Similarity Rank: 2002

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 357 $67,925,000 $190,266 $0 0.00%
    FHA 38 $6,670,000 $175,526 $0 0.00%
    USDA 15 $2,555,000 $170,333 $0 0.00%
    VA 13 $2,675,000 $205,769 $0 0.00%

    For 2019, Bankvista's most frequently originated type of loan was Conventional, with 357 originations. Their 2nd most popular type was FHA, with 38 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 326 $59,330,000 $181,994 $0 0.00%
    Refi 53 $12,425,000 $234,434 $0 0.00%
    Cash Out Refi 37 $7,775,000 $210,135 $0 0.00%
    Other 5 $225,000 $45,000 $0 0.00%
    Home Improvement 2 $70,000 $35,000 $0 0.00%

    For 2019, Bankvista's most frequently cited loan purpose was Home Purchase, with 326 originations. The 2nd most popular reason was Refi, with 53 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 423 $79,825,000 $188,712 $0 0.00%

    For 2019, Bankvista's most frequently cited loan duration was Other, with 423 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 164 $43,520,000 $265,366 $0 0.00%
    $100k-200k 163 $24,555,000 $150,644 $0 0.00%
    $100,000 or less 79 $3,175,000 $40,190 $0 0.00%
    $400k-600k 15 $6,545,000 $436,333 $0 0.00%
    $1MM+ 1 $1,085,000 $1,085,000 $0 0.00%
    $600k-1MM 1 $945,000 $945,000 $0 0.00%

    2019 saw Bankvista place emphasis on $200k-400k loans with 164 originations, totaling $43,520,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 116 $18,880,000 $162,759 $0 0.00%
    $50k or less 94 $10,540,000 $112,128 $0 0.00%
    $100k-150k 76 $18,290,000 $240,658 $0 0.00%
    $75k-100k 57 $10,405,000 $182,544 $0 0.00%
    $150k-250k 43 $11,775,000 $273,837 $0 0.00%
    $250k+ 18 $6,160,000 $342,222 $0 0.00%

    Bankvista lent most frequently to those with incomes in the $50k-75k range, with 116 originations. The second most popular income band? $50k or less, with 94 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 423 $79,825,000 $188,712 $0 0.00%

    Bankvista lent most frequently to those with DTI ratios of Exempt%, with 423 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 387 $73,085,000 $188,850 $0 0.00%
    Not applicable 15 $2,975,000 $198,333 $0 0.00%
    Asian 5 $1,295,000 $259,000 $0 0.00%
    Black 8 $1,190,000 $148,750 $0 0.00%
    Not provided 5 $975,000 $195,000 $0 0.00%
    Asian Indian 2 $160,000 $80,000 $0 0.00%
    American Indian 1 $145,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.80%

    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
    86.76%

    Bankvista has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 423 $79,825,000 $188,712

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $1,380,000 $345,000
    Single Family (1-4 Units):Site-Built 419 $78,445,000 $187,220

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 1 7.1%
    BANK OF THE WEST Other type of mortgage Closing on a mortgage 1 7.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 2 14.3%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 6 42.9%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 7.1%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    BankVista 125 Twin Rivers Court Sartell, MN 56377 Full Service B&M $184,701
    BankVista 1420 White Oak Drive Chaska, MN 55318 Full Service B&M $45,972
    BankVista 1501 Adams Street Mankato, MN 56001 Full Service B&M $35,686

    For 2019, Bankvista had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $16,404
    Net interest income $11,666
    Total noninterest income $3,841
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $255
    Trading account gains and fees $0
    Additional Noninterest Income $3,586
    Pre-tax net operating income $4,085
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,854
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,854
    Minority interest net income $0
    Net income $2,854
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,854

    Bankvista's gross interest income from loans was $16,404,000.
    Bankvista's net interest income from loans was $11,666,000.
    Bankvista's fee based income from loans was $255,000.
    Bankvista's net income from loans was $2,854,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,738
    Provision for credit losses $750
    Total noninterest expense $10,672
    Salaries and employee benefits $6,628
    Premises and equipment expense $911
    Additional noninterest expense $3,133
    Applicable income taxes $1,231
    Net charge-offs $147
    Cash dividends $0

    Bankvista's interest expense for loans was $4,738,000.
    Bankvista's payroll and benefits expense were $6,628,000.
    Bankvista's property, plant and equipment expenses $911,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $294,011
    Deposits held in domestic offices $294,011
    Deposits by Individuals, partnerships, and corporations $241,765
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $7,755
    Deposits by Commercial banks and other depository institutions in U.S. $44,491
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $70,964
    Demand deposits $70,676
    Nontransaction accounts $223,047
    Money market deposit accounts (MMDAs) $11,726
    Other savings deposits (excluding MMDAs) $84,755
    Total time deposits $126,566
    Total time and savings deposits $223,335
    Noninterest-bearing deposits $53,225
    Interest-bearing deposits $240,786
    Retail deposits $266,735
    IRAs and Keogh plan accounts $5,600
    Brokered deposits $12,681
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $347,062
    Cash & Balances due from depository institutions $34,587
    Interest-bearing balances $30,835
    Total securities $15,386
    Federal funds sold & reverse repurchase $0
    Net loans and leases $285,901
    Loan and leases loss allowance $4,148
    Trading account assets $0
    Bank premises and fixed assets $7,035
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $4,153

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $347,062
    Total Liabilities $318,121
    Total deposits $294,011
    Interest-bearing deposits $240,786
    Deposits held in domestic offices $294,011
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $22,000
    Subordinated debt $0
    All other liabilities $2,110

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $285,901
    Loan and leases loss allowance $4,148
    Total loans and leases (domestic) $290,049
    All real estate loans $221,467
    Real estate loans in domestic offices $221,467
    Construction and development loans $23,770
    Residential 1-4 family construction $9,148
    Other construction, all land development and other land $14,622
    Loans secured by nonfarm nonresidential properties $129,148
    Nonfarm nonresidential secured by owner-occupied properties $92,264
    Commercial real estate & other non-farm, non-residential $36,884
    Multifamily residential real estate $10,560
    1-4 family residential loans $56,343
    Farmland loans $1,646
    Loans held in foreign offices $0
    Farm loans $23
    Commercial and industrial loans $60,235
    To non-U.S. addressees $0
    Loans to individuals $6,247
    Credit card loans $0
    Related Plans $1,679
    Consumer Auto Loans $1,850
    Other loans to individuals $2,718
    All other loans & leases $2,077
    Loans to foreign governments and official institutions $0
    Other loans $1,166
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $475
    Non 1-4 family restructured loans & leases $475
    Total loans and leases (foreign) $0

    BankVista had $285,901,000 of loans outstanding in 2019. $221,467,000 of loans were in real estate loans. $23,770,000 of loans were in development loans. $10,560,000 of loans were in multifamily mortgage loans. $56,343,000 of loans were in 1-4 family mortgage loans. $23,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,850,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 234 $64,474 $275,530
    Nonfarm, nonresidential loans - <$100k 30 $1,199 $39,967
    Nonfarm, nonresidential loans - $100-250k 66 $9,620 $145,758
    Nonfarm, nonresidential loans - $250k-1MM 138 $53,655 $388,804
    Commercial & Industrial, US addressed loans - <$1MM 380 $36,215 $95,303
    Commercial & Industrial, US addressed loans - <$100k 192 $5,879 $30,620
    Commercial & Industrial, US addressed loans - $100-250k 87 $8,463 $97,276
    Commercial & Industrial, US addressed loans - $250k-1MM 101 $21,873 $216,564
    Farmland loans - <$1MM 8 $929 $116,125
    Farmland loans - <$100k 3 $181 $60,333
    Farmland loans - $100-250k 3 $361 $120,333
    Farmland loans - $250k-1MM 2 $387 $193,500
    Agriculture operations loans - <$1MM 2 $23 $11,500
    Agriculture operations loans - <$100k 1 $10 $10,000
    Agriculture operations loans - $100-250k 1 $13 $13,000