First National Bank Of Milaca Mortgage Rates, Fees & Info

Milaca, MN

LEI: 549300LX1HMON836J004

Tax ID: 41-0256800

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    First National Bank Of Milaca is a smaller bank specializing in Home Purchase and Refi loans. First National Bank Of Milaca has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, St. Cloud, Bemidji, and Hutchinson among others. We have data for 5 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.

    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

    74

    Origination Dollar Volume (All Markets)

    $7,420,000

    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
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 54 $5,650,000 $104,630 $0 0.00%
    Outside of Metro Areas 15 $1,365,000 $91,000 $0 0.00%
    ST. CLOUD, MN (FHA|USDA|VA) 3 $325,000 $108,333 $0 0.00%
    Bemidji, MN (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
    Hutchinson, MN (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
    First National Bank Of Milaca's top markets include Minneapolis, St. Cloud, Bemidji, and Hutchinson among others.

    Their top states include:
  • Minnesota (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 74 $7,420,000 $100,270 $0 0.00%

    For 2018, First National Bank Of Milaca's most frequently originated type of loan was Conventional, with 74 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 45 $5,325,000 $118,333 $0 0.00%
    Refi 20 $1,680,000 $84,000 $0 0.00%
    Home Improvement 5 $285,000 $57,000 $0 0.00%
    Other 4 $130,000 $32,500 $0 0.00%

    For 2018, First National Bank Of Milaca's most frequently cited loan purpose was Home Purchase, with 45 originations. The 2nd most popular reason was Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 74 $7,420,000 $100,270 $0 0.00%

    For 2018, First National Bank Of Milaca's most frequently cited loan duration was Other, with 74 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 39 $1,985,000 $50,897 $0 0.00%
    $100k-200k 29 $3,915,000 $135,000 $0 0.00%
    $200k-400k 6 $1,520,000 $253,333 $0 0.00%

    2018 saw First National Bank Of Milaca place emphasis on $100,000 or less loans with 39 originations, totaling $1,985,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 21 $1,645,000 $78,333 $0 0.00%
    $100k-150k 19 $2,245,000 $118,158 $0 0.00%
    $50k or less 17 $1,255,000 $73,824 $0 0.00%
    $75k-100k 10 $990,000 $99,000 $0 0.00%
    $150k-250k 2 $220,000 $110,000 $0 0.00%
    $250k+ 2 $590,000 $295,000 $0 0.00%

    First National Bank Of Milaca lent most frequently to those with incomes in the $50k-75k range, with 21 originations. The second most popular income band? $100k-150k, with 19 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 74 $7,420,000 $100,270 $0 0.00%

    First National Bank Of Milaca lent most frequently to those with DTI ratios of Exempt%, with 74 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 72 $7,120,000 $98,889 $0 0.00%
    Not applicable 2 $300,000 $150,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.42%

    First National Bank Of Milaca has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.19%

    First National Bank Of Milaca has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 74 $7,420,000 $100,270

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 15 $1,135,000 $75,667
    Single Family (1-4 Units):Site-Built 59 $6,285,000 $106,525

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST NATIONAL BANK OF OMAHA Home equity loan or line of credit (HELOC) Closing on a mortgage 1 50.0%
    FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Struggling to pay mortgage 1 50.0%