Granite Community Bank Mortgage Rates, Fees & Info
Cold Spring, MNLEI: 549300INKSPQCTELMO58
Tax ID: 41-0256120
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Mortgage Data
Review & Overview
Granite Community Bank is a smaller bank specializing in Home Purchase loans. Granite Community Bank 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: Minneapolis, Rapid City, Brainerd, Huntsville, and St. Cloud among others. We have data for 89 markets. (Some data included below & more in-depth data is available with an active subscription.)Granite Community Bank 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. Granite Community Bank 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 | 6.43% | 4/5/25 |
| 30 Year Conventional Refi | 6.81% | 4/5/25 |
| 30 Year Cash-out Refi | 7.39% | 4/5/25 |
| 30 Year FHA Purchase | 7.22% | 4/5/25 |
| 30 Year FHA Refi | 6.73% | 4/5/25 |
| 30 Year VA Purchase | 6.34% | 4/5/25 |
| 30 Year VA Refi | 6.21% | 4/5/25 |
| 30 Year USDA Purchase | 6.83% | 4/5/25 |
| 15 Year Conventional Purchase | 6.14% | 4/5/25 |
| 15 Year Conventional Refi | 6.00% | 4/5/25 |
| 15 Year Cash-out Refi | 6.00% | 4/5/25 |
| 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. | ||
Granite Community Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from Granite Community Bank. 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
1,054Origination Dollar Volume (All Markets)
$293,810,000Awards
Granite Community Bank - 2024
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For 2024, less than of lenders were eligible for this award.
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Relative Rate
Granite Community Bank's average 30 year fixed mortgage rate was
6.25%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.3%.
Relative Fees (Closing Costs)
Granite Community Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,574.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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) | 411 | $116,575,000 | $283,637 | $6,412 | 6.35% |
| RAPID CITY, SD (FHA|USDA|VA) | 119 | $33,085,000 | $278,025 | $6,504 | 5.71% |
| Outside of Metro Areas | 113 | $24,015,000 | $212,522 | $5,436 | 6.16% |
| Brainerd, MN (FHA|USDA|VA) | 68 | $17,370,000 | $255,441 | $6,183 | 6.25% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 22 | $7,420,000 | $337,273 | $5,890 | 6.89% |
| ST. CLOUD, MN (FHA|USDA|VA) | 28 | $5,840,000 | $208,571 | $5,557 | 7.09% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 22 | $5,300,000 | $240,909 | $6,703 | 6.89% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 15 | $5,155,000 | $343,667 | $11,219 | 6.53% |
| Willmar, MN (FHA|USDA|VA) | 12 | $4,950,000 | $412,500 | $6,425 | 6.73% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 15 | $4,725,000 | $315,000 | $8,012 | 6.85% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 11 | $4,725,000 | $429,545 | $6,213 | 6.35% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 4 | $4,320,000 | $1,080,000 | $6,643 | 6.69% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 15 | $3,965,000 | $264,333 | $9,522 | 6.66% |
| Spearfish, SD (FHA|USDA|VA) | 12 | $3,580,000 | $298,333 | $3,802 | 6.16% |
| DULUTH, MN-WI (FHA|USDA|VA) | 25 | $3,405,000 | $136,200 | $3,956 | 5.40% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 11 | $2,875,000 | $261,364 | $5,791 | 5.20% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 11 | $2,635,000 | $239,545 | $6,104 | 6.27% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $2,580,000 | $1,290,000 | $45,495 | 7.68% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 9 | $2,295,000 | $255,000 | $6,125 | 6.29% |
| Arcadia, FL (FHA|USDA|VA) | 6 | $2,070,000 | $345,000 | $13,809 | 6.73% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $2,065,000 | $688,333 | $4,368 | 6.33% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $1,685,000 | $337,000 | $8,550 | 6.83% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 4 | $1,440,000 | $360,000 | $7,029 | 7.37% |
| ROCHESTER, MN (FHA|USDA|VA) | 6 | $1,430,000 | $238,333 | $5,616 | 6.51% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $1,355,000 | $451,667 | $11,993 | 7.20% |
| THE VILLAGES, FL (FHA|USDA|VA) | 4 | $1,300,000 | $325,000 | $4,739 | 6.59% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 2 | $1,220,000 | $610,000 | $8,174 | 6.38% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $1,155,000 | $1,155,000 | $41,293 | 6.25% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 4 | $1,140,000 | $285,000 | $6,215 | 7.28% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $1,065,000 | $355,000 | $5,325 | 7.00% |
| Grand Rapids, MN (FHA|USDA|VA) | 5 | $955,000 | $191,000 | $5,973 | 5.40% |
| FORT COLLINS, CO (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $14,454 | 7.06% |
| MANKATO, MN (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $8,531 | 6.75% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $3,871 | 6.50% |
| Pierre, SD (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $10,347 | 6.38% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $9,243 | 8.02% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $5,160 | 6.71% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $5,250 | 6.60% |
| Hutchinson, MN (FHA|USDA|VA) | 4 | $620,000 | $155,000 | $5,359 | 7.38% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $8,155 | 6.50% |
| Winona, MN (FHA|USDA|VA) | 5 | $595,000 | $119,000 | $2,589 | 3.85% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $8,451 | 6.81% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $5,559 | 6.56% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $6,202 | 6.25% |
| Bemidji, MN (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $5,777 | 7.16% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $10,683 | 7.41% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $301 | 6.13% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $4,550 | 7.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $4,881 | 6.95% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $7,833 | 7.25% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $4,710 | 7.50% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $8,461 | 6.56% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $8,461 | 6.88% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $12,187 | 6.88% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $4,013 | 7.31% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $6,458 | 7.25% |
| Gillette, WY (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,916 | 6.13% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $5,808 | 6.75% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $8,455 | 6.75% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $12,852 | 6.38% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,776 | 5.75% |
| Alexandria, MN (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $3,493 | 6.88% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,049 | 6.13% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $5,852 | 6.88% |
| Fergus Falls, MN (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $3,605 | 4.54% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $9,970 | 6.63% |
| EAU CLAIRE, WI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $6,020 | 6.13% |
| Richmond-Berea, KY (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,121 | 7.13% |
| Mitchell, SD (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $6,940 | 7.12% |
| Williston, ND (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,634 | 7.13% |
| WICHITA FALLS, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,881 | 5.75% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,064 | 7.00% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,773 | 7.50% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $9,441 | 8.13% |
| Red Wing, MN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $10,776 | 5.50% |
| DOTHAN, AL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $626 | 6.75% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,316 | 5.63% |
| Marshall, MN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 7.79% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,613 | 5.75% |
| Beaver Dam, WI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,443 | 6.50% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 7.63% |
| Fort Morgan, CO (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,891 | 7.00% |
| RACINE, WI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,423 | 7.63% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,846 | 7.50% |
| Fairmont, MN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,927 | 6.75% |
| New Ulm, MN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,770 | 6.50% |
| Menomonie, WI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,019 | 7.13% |
| KANKAKEE, IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,161 | 6.88% |
| Cullman, AL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,151 | 6.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against Granite Community Bank 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 2024, Granite Community Bank's most frequently originated type of loan was Conventional, with 815 originations. Their 2nd most popular type was FHA, with 153 originations.
Loan Reason
For 2024, Granite Community Bank's most frequently cited loan purpose was Home Purchase, with 961 originations. The 2nd most popular reason was Refi, with 43 originations.
Loan Duration/Length
For 2024, Granite Community Bank's most frequently cited loan duration was 30 Year, with 943 originations. The 2nd most popular length was 5 Year, with 58 originations.
Origination Fees/Closing Costs
Granite Community Bank's average total fees were $6,574, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 261 originations.
Interest Rates
During 2024, Granite Community Bank's average interest rate for loans was 6.25%, while their most frequently originated rate bucket for loans was 6-7%, with 555 originations.
Loan Sizing
2024 saw Granite Community Bank place emphasis on $200k-400k loans with 569 originations, totaling $165,075,000 in origination value.
Applicant Income
Granite Community Bank lent most frequently to those with incomes in the $100k-150k range, with 279 originations. The second most popular income band? $50k-75k, with 249 originations.
Applicant Debt to Income Ratio
Granite Community Bank lent most frequently to those with DTI ratios of 30-36%, with 150 originations. The next most common DTI ratio? 20-30%, with 113 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.98%
Granite Community Bank has an average approval rate.
Pick Rate
Approvals leading to origination75.81%
Granite Community Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,054 | $293,810,000 | $278,757 |