Bankvista Mortgage Rates, Fees & Info
Sartell, MNLEI: 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, Winona, and Heber among others. We have data for 22 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 an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.14% | 11/17/24 |
| 30 Year Conventional Refi | 6.64% | 11/17/24 |
| 30 Year Cash-out Refi | 6.61% | 11/17/24 |
| 30 Year FHA Purchase | 7.01% | 11/17/24 |
| 30 Year VA Purchase | 5.89% | 11/17/24 |
| 30 Year USDA Purchase | 6.23% | 11/17/24 |
| 15 Year Conventional Purchase | 5.82% | 11/17/24 |
| 15 Year Conventional Refi | 6.06% | 11/17/24 |
| 15 Year Cash-out Refi | 6.06% | 11/17/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
176Origination Dollar Volume (All Markets)
$48,540,000Awards
BankVista - 2022
BankVista is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 58 | $19,450,000 | $335,345 | $5,153 | 4.74% |
| ST. CLOUD, MN (FHA|USDA|VA) | 47 | $11,175,000 | $237,766 | $3,768 | 4.75% |
| MANKATO, MN (FHA|USDA|VA) | 20 | $4,390,000 | $219,500 | $3,858 | 4.63% |
| Outside of Metro Areas | 17 | $3,265,000 | $192,059 | $4,351 | 4.31% |
| Winona, MN (FHA|USDA|VA) | 10 | $1,890,000 | $189,000 | $2,148 | 4.65% |
| Heber, UT (FHA|USDA|VA) | 1 | $1,725,000 | $1,725,000 | $0 | 4.75% |
| Brainerd, MN (FHA|USDA|VA) | 5 | $1,385,000 | $277,000 | $2,594 | 4.90% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $1,110,000 | $555,000 | $7,049 | 4.56% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $10,707 | 4.75% |
| New Ulm, MN (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $5,598 | 4.50% |
| Alexandria, MN (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,804 | 4.95% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,661 | 4.25% |
| Bemidji, MN (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $3,776 | 3.94% |
| Hutchinson, MN (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $4,668 | 5.31% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,317 | 4.95% |
| Opelousas, LA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,049 | 4.50% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,417 | 3.50% |
| Willmar, MN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,669 | 3.50% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 4.95% |
| Grand Rapids, MN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,396 | 5.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 4.50% |
| MADISON, WI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 6.00% |
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.
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Product Mix
For 2022, Bankvista's most frequently originated type of loan was Conventional, with 159 originations. Their 2nd most popular type was FHA, with 9 originations.
Loan Reason
For 2022, Bankvista's most frequently cited loan purpose was Home Purchase, with 128 originations. The 2nd most popular reason was Refi, with 27 originations.
Loan Duration/Length
For 2022, Bankvista's most frequently cited loan duration was 30 Year, with 96 originations. The 2nd most popular length was 5 Year, with 36 originations.
Origination Fees/Closing Costs
Bankvista's average total fees were $5,009, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 63 originations.
Interest Rates
During 2022, Bankvista's average interest rate for loans was 4.58%, while their most frequently originated rate bucket for loans was 4-5%, with 79 originations.
Loan Sizing
2022 saw Bankvista place emphasis on $200k-400k loans with 62 originations, totaling $16,860,000 in origination value.
Applicant Income
Bankvista lent most frequently to those with incomes in the $150k-250k range, with 26 originations. The second most popular income band? $100k-150k, with 25 originations.
Applicant Debt to Income Ratio
Bankvista lent most frequently to those with DTI ratios of 30-36%, with 33 originations. The next most common DTI ratio? 20-30%, with 16 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.57%
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 origination88.07%
Bankvista has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 176 | $48,540,000 | $275,795 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF AMERICA, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 20.0% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Closing on a mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Struggling to pay mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Trouble during payment process | 7 | 46.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | FHA mortgage | Struggling to pay mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 6.7% |