First National Bank Of Milaca Mortgage Rates, Fees & Info
Milaca, MNLEI: 549300LX1HMON836J004
Tax ID: 41-0256800
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Mortgage Data
Review & Overview
First National Bank Of Milaca is a smaller bank specializing in Home Purchase loans. First National Bank Of Milaca has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, St. Cloud, and Alexandria among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)First National Bank Of Milaca 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
61Origination Dollar Volume (All Markets)
$10,055,000Top 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 45 | $6,545,000 | $145,444 | $0 | 0.00% |
| Outside of Metro Areas | 10 | $2,520,000 | $252,000 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 5 | $655,000 | $131,000 | $0 | 0.00% |
| Alexandria, MN (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 61 | $10,055,000 | $164,836 | $0 | 0.00% |
For 2023, First National Bank Of Milaca's most frequently originated type of loan was Conventional, with 61 originations.
Loan Reason
For 2023, First National Bank Of Milaca's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Refi, with 11 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 61 | $10,055,000 | $164,836 | $0 | 0.00% |
For 2023, First National Bank Of Milaca's most frequently cited loan duration was Other, with 61 originations.
Loan Sizing
2023 saw First National Bank Of Milaca place emphasis on $100,000 or less loans with 26 originations, totaling $1,270,000 in origination value.
Applicant Income
First National Bank Of Milaca lent most frequently to those with incomes in the $75k-100k range, with 14 originations. The second most popular income band? $50k-75k, with 13 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 61 | $10,055,000 | $164,836 | $0 | 0.00% |
First National Bank Of Milaca lent most frequently to those with DTI ratios of Exempt%, with 61 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.59%
First National Bank Of Milaca has an average approval rate.
Pick Rate
Approvals leading to origination83.61%
First National Bank Of Milaca has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 61 | $10,055,000 | $164,836 |