Bankvista Mortgage Rates, Fees & Info

Sartell, MN

LEI: 549300H1I95THVU5ZB04

Tax ID: 41-1962072

Latest/2023 | 2022 Data | 2021 Data | 2020 Data |

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Mortgage Data

Bank Data

Review & Overview

Bankvista is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi 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: St. Cloud, Minneapolis, Mankato, Brainerd, and Alexandria 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 a below average pick rate when compared to similar lenders. Bankvista is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.14% 3/28/24
30 Year Conventional Refi 6.64% 3/28/24
30 Year Cash-out Refi 6.61% 3/28/24
30 Year FHA Purchase 7.01% 3/28/24
30 Year VA Purchase 5.89% 3/28/24
30 Year USDA Purchase 6.23% 3/28/24
15 Year Conventional Purchase 5.82% 3/28/24
15 Year Conventional Refi 6.06% 3/28/24
15 Year Cash-out Refi 6.06% 3/28/24
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

352

Origination Dollar Volume (All Markets)

$92,990,000

Employee count

73

Awards

BankVista 30 Year Conventional Loans bronze BankVista 30 Year Conventional Loans bronze BankVista 30 Year Conventional Loans gold BankVista 30 Year Conventional Loans silver
Show all (4) awards

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
ST. CLOUD, MN (FHA|USDA|VA) 147 $35,685,000 $242,755 $3,218 2.83%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 105 $30,535,000 $290,810 $3,281 2.95%
MANKATO, MN (FHA|USDA|VA) 40 $11,310,000 $282,750 $3,654 2.89%
Outside of Metro Areas 28 $5,310,000 $189,643 $3,635 2.85%
Brainerd, MN (FHA|USDA|VA) 7 $2,595,000 $370,714 $3,091 3.02%
Alexandria, MN (FHA|USDA|VA) 2 $840,000 $420,000 $3,386 2.81%
Bemidji, MN (FHA|USDA|VA) 1 $735,000 $735,000 $0 4.50%
Hutchinson, MN (FHA|USDA|VA) 2 $660,000 $330,000 $6,779 2.50%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $570,000 $285,000 $2,589 2.75%
Marshall, MN (FHA|USDA|VA) 2 $560,000 $280,000 $0 4.15%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $545,000 $545,000 $4,833 2.63%
ROCHESTER, MN (FHA|USDA|VA) 2 $510,000 $255,000 $2,206 2.44%
Spirit Lake, IA (FHA|USDA|VA) 1 $505,000 $505,000 $3,821 2.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $405,000 $405,000 $4,570 2.88%
COLUMBUS, OH (FHA|USDA|VA) 1 $345,000 $345,000 $3,707 2.75%
Willmar, MN (FHA|USDA|VA) 2 $310,000 $155,000 $4,786 3.38%
RICHMOND, VA (FHA|USDA|VA) 1 $305,000 $305,000 $3,204 2.13%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $255,000 $255,000 $4,051 2.88%
FARGO, ND-MN (FHA|USDA|VA) 1 $245,000 $245,000 $5,380 3.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $225,000 $225,000 $2,612 2.75%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $175,000 $175,000 $2,647 2.88%
Albert Lea, MN (FHA|USDA|VA) 1 $165,000 $165,000 $0 4.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $135,000 $135,000 $2,735 2.88%
Sault Ste. Marie, MI (FHA|USDA|VA) 1 $65,000 $65,000 $2,193 2.25%
Bankvista's top markets include St. Cloud, Minneapolis, Mankato, Brainerd, and Alexandria among others.

Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 326 $87,010,000 $266,902 $3,145 2.92%
    FHA 10 $2,020,000 $202,000 $6,753 2.69%
    VA 9 $2,685,000 $298,333 $4,672 2.38%
    USDA 7 $1,275,000 $182,143 $5,227 2.45%

    For 2021, Bankvista's most frequently originated type of loan was Conventional, with 326 originations. Their 2nd most popular type was FHA, with 10 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 151 $43,715,000 $289,503 $4,145 3.12%
    Refi 120 $29,610,000 $246,750 $2,712 2.58%
    Cash Out Refi 75 $19,245,000 $256,600 $3,225 2.74%
    Home Improvement 3 $345,000 $115,000 $1,515 4.17%
    Other 3 $75,000 $25,000 $465 5.50%

    For 2021, Bankvista's most frequently cited loan purpose was Home Purchase, with 151 originations. The 2nd most popular reason was Refi, with 120 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 205 $56,805,000 $277,098 $3,755 2.84%
    15 Year 64 $14,660,000 $229,063 $2,859 2.38%
    Other 23 $4,645,000 $201,957 $2,206 3.21%
    20 Year 23 $5,525,000 $240,217 $2,581 2.68%
    10 Year 18 $4,110,000 $228,333 $1,984 3.50%
    5 Year 14 $5,980,000 $427,143 $250 4.39%
    1 Year 4 $1,060,000 $265,000 $4,210 4.50%
    3 Year 1 $205,000 $205,000 $0 4.00%

    For 2021, Bankvista's most frequently cited loan duration was 30 Year, with 205 originations. The 2nd most popular length was 15 Year, with 64 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 272 $69,600,000 $255,882
    $<1k 19 $2,915,000 $153,421
    $2k-3k 15 $4,725,000 $315,000
    $3k-4k 6 $1,680,000 $280,000
    $4k-5k 6 $2,100,000 $350,000
    $5k+ 3 $1,565,000 $521,667

    Bankvista's average total fees were $3,755, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 272 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 136 $31,700,000 $233,088
    2.5-3% 126 $35,260,000 $279,841
    3-4% 52 $18,260,000 $351,154
    4-5% 36 $7,720,000 $214,444
    5-6% 2 $50,000 $25,000

    During 2021, Bankvista's average interest rate for loans was 2.84%, while their most frequently originated rate bucket for loans was <2.5%, with 136 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 162 $46,170,000 $285,000 $3,317 2.79%
    $100k-200k 115 $17,375,000 $151,087 $3,182 2.95%
    $400k-600k 41 $19,865,000 $484,512 $4,472 2.88%
    $100,000 or less 26 $1,470,000 $56,538 $1,678 2.96%
    $1MM+ 4 $5,100,000 $1,275,000 $16,176 3.69%
    $600k-1MM 4 $3,010,000 $752,500 $3,970 3.75%

    2021 saw Bankvista place emphasis on $200k-400k loans with 162 originations, totaling $46,170,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 74 $21,090,000 $285,000 $3,372 2.75%
    $150k-250k 64 $19,720,000 $308,125 $3,356 2.66%
    $50k-75k 52 $9,660,000 $185,769 $3,498 2.79%
    $75k-100k 51 $11,185,000 $219,314 $3,068 3.00%
    $50k or less 49 $6,745,000 $137,653 $2,981 2.70%
    $250k+ 32 $14,130,000 $441,563 $4,237 2.81%

    Bankvista lent most frequently to those with incomes in the $100k-150k range, with 74 originations. The second most popular income band? $150k-250k, with 64 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 99 $26,775,000 $270,455 $3,241 2.69%
    30-36% 65 $14,945,000 $229,923 $3,154 2.66%
    <20% 48 $13,830,000 $288,125 $3,177 2.56%
    39% 13 $3,355,000 $258,077 $3,684 3.24%
    41% 11 $2,925,000 $265,909 $3,401 2.83%
    37% 11 $2,295,000 $208,636 $3,461 3.06%
    42% 11 $2,115,000 $192,273 $4,135 3.47%
    44% 11 $2,975,000 $270,455 $3,165 2.68%
    38% 10 $2,610,000 $261,000 $4,622 2.85%
    43% 9 $1,875,000 $208,333 $3,337 3.13%
    49% 8 $2,120,000 $265,000 $4,229 2.73%
    40% 7 $2,185,000 $312,143 $4,152 2.75%
    45% 6 $1,460,000 $243,333 $3,988 3.19%
    36% 5 $1,375,000 $275,000 $4,060 2.93%
    48% 4 $790,000 $197,500 $2,288 3.75%
    46% 2 $470,000 $235,000 $3,039 3.38%
    47% 2 $390,000 $195,000 $2,469 2.69%

    Bankvista lent most frequently to those with DTI ratios of 20-30%, with 99 originations. The next most common DTI ratio? 30-36%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 314 $79,730,000 $253,917 $3,339 2.78%
    Not applicable 24 $9,040,000 $376,667 $0 4.30%
    Not provided 5 $1,885,000 $377,000 $3,531 2.73%
    Asian 4 $1,260,000 $315,000 $3,661 3.31%
    American Indian 3 $635,000 $211,667 $3,903 1.88%
    Black 2 $440,000 $220,000 $2,607 3.00%

    Approval Rates

    Total approvals of all applications
    96.38%

    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
    86.93%

    Bankvista has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 352 $92,990,000 $264,176

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    352 $92,990,000 $264,176

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $3,140,000 $224,286 $3,215 2.69%
    40-60% 50 $11,010,000 $220,200 $2,704 2.71%
    60-80% 174 $50,050,000 $287,644 $3,211 2.93%
    80-100% 101 $27,575,000 $273,020 $4,119 2.95%
    Over 100% 1 $295,000 $295,000 $10,004 2.50%
    Under 20% 12 $920,000 $76,667 $902 2.72%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 5 16.7%
    BANK OF THE WEST VA mortgage Trouble during payment process 1 3.3%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 2 6.7%
    BANK OF THE WEST Other type of mortgage Struggling to pay mortgage 1 3.3%
    BANK OF THE WEST Other type of mortgage Closing on a mortgage 1 3.3%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.3%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 3 10.0%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 4 13.3%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 6.7%
    BANK OF THE WEST FHA mortgage Trouble during payment process 1 3.3%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 2 6.7%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 1 3.3%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 6 20.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bankvista 125 Twin Rivers Court Sartell, MN 56377 Full Service B&M $208,869
    Bankvista 1420 White Oak Drive Chaska, MN 55318 Full Service B&M $101,864
    Bankvista 1501 Adams Street Mankato, MN 56001 Full Service B&M $65,924

    For 2021, Bankvista had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $24,338
    Net interest income $22,204
    Total noninterest income $9,767
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $243
    Trading account gains and fees $0
    Additional Noninterest Income $9,524
    Pre-tax net operating income $17,549
    Securities gains (or losses, -) $0
    Income before extraordinary items $12,469
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $12,469
    Minority interest net income $0
    Net income $12,469
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $12,469

    Bankvista's gross interest income from loans was $24,338,000.
    Bankvista's net interest income from loans was $22,204,000.
    Bankvista's fee based income from loans was $243,000.
    Bankvista's net income from loans was $12,469,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,134
    Provision for credit losses $1,175
    Total noninterest expense $13,247
    Salaries and employee benefits $8,847
    Premises and equipment expense $1,081
    Additional noninterest expense $3,319
    Applicable income taxes $5,080
    Net charge-offs $86
    Cash dividends $2,500

    Bankvista's interest expense for loans was $2,134,000.
    Bankvista's payroll and benefits expense were $8,847,000.
    Bankvista's property, plant and equipment expenses $1,081,000.

    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 0.0%
    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 $400,260
    Deposits held in domestic offices $400,260
    Deposits by Individuals, partnerships, and corporations $376,742
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $18,056
    Deposits by Commercial banks and other depository institutions in U.S. $5,462
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $155,518
    Demand deposits $155,518
    Nontransaction accounts $244,742
    Money market deposit accounts (MMDAs) $34,250
    Other savings deposits (excluding MMDAs) $158,257
    Total time deposits $52,235
    Total time and savings deposits $244,742
    Noninterest-bearing deposits $127,779
    Interest-bearing deposits $272,481
    Retail deposits $388,833
    IRAs and Keogh plan accounts $4,378
    Brokered deposits $2,006
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $471,597
    Cash & Balances due from depository institutions $77,435
    Interest-bearing balances $72,568
    Total securities $12,941
    Federal funds sold & reverse repurchase $0
    Net loans and leases $369,215
    Loan and leases loss allowance $6,627
    Trading account assets $0
    Bank premises and fixed assets $6,683
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $5,323

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $471,597
    Total Liabilities $426,604
    Total deposits $400,260
    Interest-bearing deposits $272,481
    Deposits held in domestic offices $400,260
    % insured (estimated) $63
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $24,750
    Subordinated debt $0
    All other liabilities $1,594

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $369,215
    Loan and leases loss allowance $6,627
    Total loans and leases (domestic) $375,842
    All real estate loans $245,664
    Real estate loans in domestic offices $245,664
    Construction and development loans $25,344
    Residential 1-4 family construction $8,576
    Other construction, all land development and other land $16,768
    Loans secured by nonfarm nonresidential properties $167,256
    Nonfarm nonresidential secured by owner-occupied properties $108,224
    Commercial real estate & other non-farm, non-residential $59,032
    Multifamily residential real estate $7,509
    1-4 family residential loans $44,793
    Farmland loans $762
    Loans held in foreign offices $0
    Farm loans $12
    Commercial and industrial loans $118,369
    To non-U.S. addressees $0
    Loans to individuals $7,947
    Credit card loans $0
    Related Plans $1,025
    Consumer Auto Loans $1,526
    Other loans to individuals $5,396
    All other loans & leases $3,850
    Loans to foreign governments and official institutions $0
    Other loans $111
    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 $3,019
    Non 1-4 family restructured loans & leases $3,019
    Total loans and leases (foreign) $0

    BankVista had $369,215,000 of loans outstanding in 2021. $245,664,000 of loans were in real estate loans. $25,344,000 of loans were in development loans. $7,509,000 of loans were in multifamily mortgage loans. $44,793,000 of loans were in 1-4 family mortgage loans. $12,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,526,000 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 255 $67,930 $266,392
    Nonfarm, nonresidential loans - <$100k 22 $907 $41,227
    Nonfarm, nonresidential loans - $100-250k 73 $9,136 $125,151
    Nonfarm, nonresidential loans - $250k-1MM 160 $57,887 $361,794
    Commercial & Industrial, US addressed loans - <$1MM 541 $57,432 $106,159
    Commercial & Industrial, US addressed loans - <$100k 253 $7,478 $29,557
    Commercial & Industrial, US addressed loans - $100-250k 126 $12,944 $102,730
    Commercial & Industrial, US addressed loans - $250k-1MM 162 $37,010 $228,457
    Farmland loans - <$1MM 5 $689 $137,800
    Farmland loans - <$100k 2 $140 $70,000
    Farmland loans - $100-250k 2 $291 $145,500
    Farmland loans - $250k-1MM 1 $258 $258,000
    Agriculture operations loans - <$1MM 1 $12 $12,000
    Agriculture operations loans - <$100k 1 $12 $12,000