Freeport State Bank Mortgage Rates, Fees & Info
Freeport, MNLEI: 549300J61UYIFWNCZS06
Tax ID: 41-0266460
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Mortgage Data
Review & Overview
Freeport State Bank is a smaller bank specializing in Home Purchase and Refi loans. Freeport State Bank has a high proportion of conventional loans. Their top two markets are St. Cloud and Fergus Falls .Freeport State Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
22Origination Dollar Volume (All Markets)
$2,780,000Top 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) | 19 | $2,495,000 | $131,316 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $200,000 | $100,000 | $0 | 0.00% |
| Fergus Falls, MN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 22 | $2,780,000 | $126,364 | $0 | 0.00% |
For 2019, Freeport State Bank's most frequently originated type of loan was Conventional, with 22 originations.
Loan Reason
For 2019, Freeport State Bank's most frequently cited loan purpose was Home Purchase, with 11 originations. The 2nd most popular reason was Home Improvement, with 5 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 22 | $2,780,000 | $126,364 | $0 | 0.00% |
For 2019, Freeport State Bank's most frequently cited loan duration was Other, with 22 originations.
Loan Sizing
2019 saw Freeport State Bank place emphasis on $100,000 or less loans with 10 originations, totaling $650,000 in origination value.
Applicant Income
Freeport State Bank lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $50k or less, with 6 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 22 | $2,780,000 | $126,364 | $0 | 0.00% |
Freeport State Bank lent most frequently to those with DTI ratios of Exempt%, with 22 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 21 | $2,655,000 | $126,429 | $0 | 0.00% |
| Not applicable | 1 | $125,000 | $125,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications79.41%
Freeport State Bank has a below average approval rate.
Pick Rate
Approvals leading to origination77.27%
Freeport State Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 22 | $2,780,000 | $126,364 |