Heritage Bank Mortgage Rates, Fees & Info
Spicer, MNLEI: 549300KUIZTYQRC0R888
Tax ID: 41-0880598
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Mortgage Data
Review & Overview
Heritage Bank is a smaller bank specializing in Home Purchase loans. Heritage 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: Willmar, Sioux City, Minneapolis, Houston, and St. Louis among others. We have data for 73 markets. (Some data included below & more in-depth data is available with an active subscription.)Heritage 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.
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
241Origination Dollar Volume (All Markets)
$70,945,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 35 | $7,425,000 | $212,143 | $0 | 0.00% |
| Willmar, MN (FHA|USDA|VA) | 38 | $7,170,000 | $188,684 | $0 | 0.00% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 51 | $5,885,000 | $115,392 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 14 | $3,320,000 | $237,143 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 5 | $2,945,000 | $589,000 | $0 | 0.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 3 | $2,445,000 | $815,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $2,010,000 | $502,500 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $1,825,000 | $608,333 | $0 | 0.00% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 8 | $1,780,000 | $222,500 | $0 | 0.00% |
| Laramie, WY (FHA|USDA|VA) | 1 | $1,685,000 | $1,685,000 | $0 | 0.00% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $1,495,000 | $1,495,000 | $0 | 0.00% |
| North Platte, NE (FHA|USDA|VA) | 2 | $1,320,000 | $660,000 | $0 | 0.00% |
| Roseburg, OR (FHA|USDA|VA) | 2 | $1,310,000 | $655,000 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 4 | $1,170,000 | $292,500 | $0 | 0.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $1,165,000 | $1,165,000 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $1,050,000 | $525,000 | $0 | 0.00% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $930,000 | $465,000 | $0 | 0.00% |
| BOISE CITY, ID (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $0 | 0.00% |
| Montrose, CO (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $0 | 0.00% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $0 | 0.00% |
| RICHMOND, VA (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $0 | 0.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $0 | 0.00% |
| WACO, TX (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $695,000 | $695,000 | $0 | 0.00% |
| Gillette, WY (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $0 | 0.00% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $0 | 0.00% |
| Fergus Falls, MN (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $0 | 0.00% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $0 | 0.00% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $0 | 0.00% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $0 | 0.00% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $0 | 0.00% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 0.00% |
| OCALA, FL (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $0 | 0.00% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $0 | 0.00% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $0 | 0.00% |
| MONROE, MI (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 0.00% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $0 | 0.00% |
| Ontario, OR-ID (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $0 | 0.00% |
| LAWRENCE, KS (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 0.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 0.00% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 0.00% |
| AKRON, OH (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 0.00% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| Marquette, MI (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| TYLER, TX (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| MANKATO, MN (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| OWENSBORO, KY (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| MOBILE, AL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| Bemidji, MN (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $0 | 0.00% |
| ERIE, PA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| Watertown, SD (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| VALDOSTA, GA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Brookings, SD (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Marshall, MN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Heritage 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, Heritage Bank's most frequently originated type of loan was Conventional, with 191 originations. Their 2nd most popular type was FHA, with 47 originations.
Loan Reason
For 2024, Heritage Bank's most frequently cited loan purpose was Home Purchase, with 212 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 241 | $70,945,000 | $294,378 | $0 | 0.00% |
For 2024, Heritage Bank's most frequently cited loan duration was Other, with 241 originations.
Loan Sizing
2024 saw Heritage Bank place emphasis on $200k-400k loans with 79 originations, totaling $22,695,000 in origination value.
Applicant Income
Heritage Bank lent most frequently to those with incomes in the $150k-250k range, with 53 originations. The second most popular income band? $50k-75k, with 48 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 241 | $70,945,000 | $294,378 | $0 | 0.00% |
Heritage Bank lent most frequently to those with DTI ratios of Exempt%, with 241 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.88%
Heritage Bank has an average approval rate.
Pick Rate
Approvals leading to origination78.01%
Heritage Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 241 | $70,945,000 | $294,378 |