21st Century Bank Mortgage Rates, Fees & Info
Minneapolis, MNLEI: 549300M3TJGNW53OWQ30
Tax ID: 41-0250430
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Mortgage Data
Review & Overview
21st Century Bank is a smaller bank specializing in Home Purchase and Refi loans. 21st Century Bank has a high proportion of conventional loans. Their top two markets are Minneapolis and Red Wing .21st Century Bank has an above average approval rate when compared to the average across all lenders.
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Originations
85Origination Dollar Volume (All Markets)
$29,885,000Top 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) | 84 | $29,760,000 | $354,286 | $0 | 0.00% |
| Red Wing, MN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 85 | $29,885,000 | $351,588 | $0 | 0.00% |
For 2018, 21st Century Bank's most frequently originated type of loan was Conventional, with 85 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 45 | $21,045,000 | $467,667 | $0 | 0.00% |
| Refi | 36 | $8,170,000 | $226,944 | $0 | 0.00% |
| Home Improvement | 4 | $670,000 | $167,500 | $0 | 0.00% |
For 2018, 21st Century Bank's most frequently cited loan purpose was Home Purchase, with 45 originations. The 2nd most popular reason was Refi, with 36 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 85 | $29,885,000 | $351,588 | $0 | 0.00% |
For 2018, 21st Century Bank's most frequently cited loan duration was Other, with 85 originations.
Loan Sizing
2018 saw 21st Century Bank place emphasis on $200k-400k loans with 38 originations, totaling $9,620,000 in origination value.
Applicant Income
21st Century Bank lent most frequently to those with incomes in the $150k-250k range, with 4 originations. The second most popular income band? $75k-100k, with 4 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 85 | $29,885,000 | $351,588 | $0 | 0.00% |
21st Century Bank lent most frequently to those with DTI ratios of Exempt%, with 85 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
21st Century Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 85 | $29,885,000 | $351,588 |