Ramsey National Bank Mortgage Rates, Fees & Info

Devils Lake, ND

LEI: 549300MVRMQQQCPMNN86

Tax ID: 45-0183848

Latest/2022 | 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
  • 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

    Ramsey National Bank is a smaller bank specializing in Refi and Home Purchase loans. Ramsey National Bank has a high proportion of conventional loans. Their top (well, only) market is Fargo.

    Ramsey National Bank has an above average approval rate when compared to the average across all lenders. They have an above 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

    62

    Origination Dollar Volume (All Markets)

    $9,380,000

    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
    FARGO, ND-MN (FHA|USDA|VA) 14 $4,860,000 $347,143 $0 0.00%
    Outside of Metro Areas 48 $4,520,000 $94,167 $0 0.00%
    Ramsey National Bank's top markets include and Fargo among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 62 $9,380,000 $151,290 $0 0.00%

    For 2018, Ramsey National Bank's most frequently originated type of loan was Conventional, with 62 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 35 $6,075,000 $173,571 $0 0.00%
    Home Purchase 14 $2,640,000 $188,571 $0 0.00%
    Other 8 $470,000 $58,750 $0 0.00%
    Home Improvement 5 $195,000 $39,000 $0 0.00%

    For 2018, Ramsey National Bank's most frequently cited loan purpose was Refi, with 35 originations. The 2nd most popular reason was Home Purchase, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 62 $9,380,000 $151,290 $0 0.00%

    For 2018, Ramsey National Bank's most frequently cited loan duration was Other, with 62 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 35 $1,625,000 $46,429 $0 0.00%
    $100k-200k 16 $2,400,000 $150,000 $0 0.00%
    $400k-600k 5 $2,265,000 $453,000 $0 0.00%
    $200k-400k 4 $1,020,000 $255,000 $0 0.00%
    $1MM+ 1 $1,375,000 $1,375,000 $0 0.00%
    $600k-1MM 1 $695,000 $695,000 $0 0.00%

    2018 saw Ramsey National Bank place emphasis on $100,000 or less loans with 35 originations, totaling $1,625,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 11 $1,105,000 $100,455 $0 0.00%
    $75k-100k 9 $675,000 $75,000 $0 0.00%
    $150k-250k 8 $840,000 $105,000 $0 0.00%
    $50k or less 7 $215,000 $30,714 $0 0.00%
    $100k-150k 6 $870,000 $145,000 $0 0.00%
    $250k+ 5 $555,000 $111,000 $0 0.00%

    Ramsey National Bank lent most frequently to those with incomes in the $50k-75k range, with 11 originations. The second most popular income band? $75k-100k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 62 $9,380,000 $151,290 $0 0.00%

    Ramsey National Bank lent most frequently to those with DTI ratios of Exempt%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 14 $4,900,000 $350,000 $0 0.00%
    White 47 $4,455,000 $94,787 $0 0.00%
    Not provided 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.29%

    Ramsey National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.55%

    Ramsey National Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 62 $9,380,000 $151,290

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $3,920,000 $653,333
    Single Family (1-4 Units):Manufactured 5 $365,000 $73,000
    Single Family (1-4 Units):Site-Built 51 $5,095,000 $99,902