21st Century Bank Mortgage Rates, Fees & Info

Minneapolis, MN

LEI: 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

85

Origination Dollar Volume (All Markets)

$29,885,000

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) 84 $29,760,000 $354,286 $0 0.00%
Red Wing, MN (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
21st Century Bank's top markets include Minneapolis and Red Wing among others.

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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 38 $9,620,000 $253,158 $0 0.00%
    $100k-200k 28 $3,770,000 $134,643 $0 0.00%
    $1MM+ 5 $9,675,000 $1,935,000 $0 0.00%
    $400k-600k 5 $2,505,000 $501,000 $0 0.00%
    $600k-1MM 5 $4,005,000 $801,000 $0 0.00%
    $100,000 or less 4 $310,000 $77,500 $0 0.00%

    2018 saw 21st Century Bank place emphasis on $200k-400k loans with 38 originations, totaling $9,620,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 4 $940,000 $235,000 $0 0.00%
    $75k-100k 4 $1,010,000 $252,500 $0 0.00%
    $250k+ 3 $1,185,000 $395,000 $0 0.00%
    $100k-150k 2 $350,000 $175,000 $0 0.00%
    $50k or less 1 $355,000 $355,000 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 71 $26,045,000 $366,831 $0 0.00%
    White 9 $2,485,000 $276,111 $0 0.00%
    Not provided 3 $755,000 $251,667 $0 0.00%
    Black 2 $600,000 $300,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    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 origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 85 $29,885,000 $351,588

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 27 $17,865,000 $661,667
    Single Family (1-4 Units):Site-Built 58 $12,020,000 $207,241