American National Bank Of Minnesota Mortgage Rates, Fees & Info

Baxter, MN

LEI: 549300IJ5M3CD2DPIX47

Tax ID: 41-1449276

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Mortgage Data

Review & Overview

American National Bank Of Minnesota is a smaller bank specializing in Home Purchase loans. American National Bank Of Minnesota has a high proportion of conventional loans. Their top markets by origination volume include: Brainerd, St. Cloud, Alexandria, Fergus Falls, and Minneapolis among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

American National Bank Of Minnesota 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.

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Originations

167

Origination Dollar Volume (All Markets)

$28,925,000

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
Brainerd, MN (FHA|USDA|VA) 66 $11,240,000 $170,303 $0 0.00%
ST. CLOUD, MN (FHA|USDA|VA) 19 $4,105,000 $216,053 $0 0.00%
Outside of Metro Areas 18 $3,370,000 $187,222 $0 0.00%
Alexandria, MN (FHA|USDA|VA) 18 $2,930,000 $162,778 $0 0.00%
Fergus Falls, MN (FHA|USDA|VA) 22 $2,830,000 $128,636 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 6 $2,310,000 $385,000 $0 0.00%
DULUTH, MN-WI (FHA|USDA|VA) 11 $685,000 $62,273 $0 0.00%
FARGO, ND-MN (FHA|USDA|VA) 1 $625,000 $625,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
Grand Rapids, MN (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Wahpeton, ND-MN (FHA|USDA|VA) 2 $70,000 $35,000 $0 0.00%
American National Bank Of Minnesota's top markets include Brainerd, St. Cloud, Alexandria, Fergus Falls, and Minneapolis among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 167 $28,925,000 $173,204 $0 0.00%

    For 2023, American National Bank Of Minnesota's most frequently originated type of loan was Conventional, with 167 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 113 $21,935,000 $194,115 $0 0.00%
    Refi 32 $5,600,000 $175,000 $0 0.00%
    Home Improvement 13 $865,000 $66,538 $0 0.00%
    Other 9 $525,000 $58,333 $0 0.00%

    For 2023, American National Bank Of Minnesota's most frequently cited loan purpose was Home Purchase, with 113 originations. The 2nd most popular reason was Refi, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 167 $28,925,000 $173,204 $0 0.00%

    For 2023, American National Bank Of Minnesota's most frequently cited loan duration was Other, with 167 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 66 $3,740,000 $56,667 $0 0.00%
    $100k-200k 46 $6,400,000 $139,130 $0 0.00%
    $200k-400k 39 $10,375,000 $266,026 $0 0.00%
    $400k-600k 12 $5,660,000 $471,667 $0 0.00%
    $600k-1MM 4 $2,750,000 $687,500 $0 0.00%

    2023 saw American National Bank Of Minnesota place emphasis on $100,000 or less loans with 66 originations, totaling $3,740,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 34 $4,600,000 $135,294 $0 0.00%
    $50k or less 28 $2,430,000 $86,786 $0 0.00%
    $100k-150k 18 $4,800,000 $266,667 $0 0.00%
    $75k-100k 18 $3,070,000 $170,556 $0 0.00%
    $150k-250k 14 $2,940,000 $210,000 $0 0.00%
    $250k+ 6 $1,390,000 $231,667 $0 0.00%

    American National Bank Of Minnesota lent most frequently to those with incomes in the $50k-75k range, with 34 originations. The second most popular income band? $50k or less, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 167 $28,925,000 $173,204 $0 0.00%

    American National Bank Of Minnesota lent most frequently to those with DTI ratios of Exempt%, with 167 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 115 $18,985,000 $165,087 $0 0.00%
    Not applicable 46 $9,050,000 $196,739 $0 0.00%
    Asian 3 $535,000 $178,333 $0 0.00%
    Other Pacific Islander 2 $240,000 $120,000 $0 0.00%
    Other Asian 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.32%

    American National Bank Of Minnesota 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
    94.61%

    American National Bank Of Minnesota has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 167 $28,925,000 $173,204

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    167 $28,925,000 $173,204