North American Banking Company Mortgage Rates, Fees & Info

Minneapolis, MN

LEI: 549300IDUXOP6HUDV878

Tax ID: 41-1913560

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    North American Banking Company is a smaller bank specializing in Home Purchase loans. North American Banking Company has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Phoenix, Brainerd, and Punta Gorda among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    North American Banking Company has an above average approval rate when compared to the average across all 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.

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    Originations

    29

    Origination Dollar Volume (All Markets)

    $16,865,000

    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) 24 $13,460,000 $560,833 $0 0.00%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $0 0.00%
    Brainerd, MN (FHA|USDA|VA) 1 $865,000 $865,000 $0 0.00%
    PUNTA GORDA, FL (FHA|USDA|VA) 2 $570,000 $285,000 $0 0.00%
    Outside of Metro Areas 1 $465,000 $465,000 $0 0.00%
    North American Banking Company's top markets include Minneapolis, Phoenix, Brainerd, and Punta Gorda among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 29 $16,865,000 $581,552 $0 0.00%

    For 2023, North American Banking Company's most frequently originated type of loan was Conventional, with 29 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 23 $12,655,000 $550,217 $0 0.00%
    Refi 4 $1,670,000 $417,500 $0 0.00%
    Home Improvement 2 $2,540,000 $1,270,000 $0 0.00%

    For 2023, North American Banking Company's most frequently cited loan purpose was Home Purchase, with 23 originations. The 2nd most popular reason was Refi, with 4 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 29 $16,865,000 $581,552 $0 0.00%

    For 2023, North American Banking Company's most frequently cited loan duration was Other, with 29 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 10 $2,890,000 $289,000 $0 0.00%
    $100k-200k 9 $1,425,000 $158,333 $0 0.00%
    $400k-600k 4 $1,790,000 $447,500 $0 0.00%
    $1MM+ 3 $8,915,000 $2,971,667 $0 0.00%
    $600k-1MM 2 $1,750,000 $875,000 $0 0.00%
    $100,000 or less 1 $95,000 $95,000 $0 0.00%

    2023 saw North American Banking Company place emphasis on $200k-400k loans with 10 originations, totaling $2,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 5 $2,025,000 $405,000 $0 0.00%
    $250k+ 5 $5,195,000 $1,039,000 $0 0.00%
    $75k-100k 3 $755,000 $251,667 $0 0.00%
    $100k-150k 1 $355,000 $355,000 $0 0.00%

    North American Banking Company lent most frequently to those with incomes in the $150k-250k range, with 5 originations. The second most popular income band? $250k+, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 29 $16,865,000 $581,552 $0 0.00%

    North American Banking Company lent most frequently to those with DTI ratios of Exempt%, with 29 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 15 $8,615,000 $574,333 $0 0.00%
    Not applicable 13 $8,085,000 $621,923 $0 0.00%
    Asian 1 $165,000 $165,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.67%

    North American Banking Company 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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 29 $16,865,000 $581,552

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    29 $16,865,000 $581,552