Fnb Moose Lake Mortgage Rates, Fees & Info
Moose Lake, MNLEI: 549300MX8VQ8VRHIUY36
Tax ID: 41-0425123
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Mortgage Data
Review & Overview
Fnb Moose Lake is a smaller mortgage company specializing in Home Purchase loans. Fnb Moose Lake has a high proportion of conventional loans. Fnb Moose Lake has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Duluth, Mankato, and Milwaukee among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Fnb Moose Lake has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Fnb Moose Lake is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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Originations
62Origination Dollar Volume (All Markets)
$16,750,000Top 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) | 18 | $7,940,000 | $441,111 | $3,275 | 4.90% |
| DULUTH, MN-WI (FHA|USDA|VA) | 24 | $4,560,000 | $190,000 | $3,639 | 5.31% |
| Outside of Metro Areas | 15 | $3,215,000 | $214,333 | $3,429 | 5.09% |
| MANKATO, MN (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $0 | 0.00% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 4 | $400,000 | $100,000 | $0 | 5.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 40 | $7,730,000 | $193,250 | $3,504 | 5.12% |
| Conventional | 22 | $9,020,000 | $410,000 | $0 | 0.00% |
For 2018, Fnb Moose Lake's most frequently originated type of loan was Conventional, with 40 originations. Their 2nd most popular type was Conventional, with 22 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 51 | $15,015,000 | $294,412 | $3,627 | 5.16% |
| Refi | 10 | $1,600,000 | $160,000 | $3,166 | 4.71% |
| Other | 1 | $135,000 | $135,000 | $2,515 | 6.24% |
For 2018, Fnb Moose Lake's most frequently cited loan purpose was Home Purchase, with 51 originations. The 2nd most popular reason was Refi, with 10 originations.
Loan Duration/Length
For 2018, Fnb Moose Lake's most frequently cited loan duration was Other, with 25 originations. The 2nd most popular length was 30 Year, with 17 originations.
Origination Fees/Closing Costs
Fnb Moose Lake's average total fees were $3,535, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 11 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 22 | $4,110,000 | $186,818 |
| 5-6% | 9 | $2,075,000 | $230,556 |
| 6-7% | 6 | $1,100,000 | $183,333 |
| 7-8% | 2 | $170,000 | $85,000 |
| 3-4% | 1 | $275,000 | $275,000 |
During 2018, Fnb Moose Lake's average interest rate for loans was 4.87%, while their most frequently originated rate bucket for loans was 4-5%, with 22 originations.
Loan Sizing
2018 saw Fnb Moose Lake place emphasis on $100k-200k loans with 25 originations, totaling $3,685,000 in origination value.
Applicant Income
Fnb Moose Lake lent most frequently to those with incomes in the $50k-75k range, with 11 originations. The second most popular income band? $75k-100k, with 10 originations.
Applicant Debt to Income Ratio
Fnb Moose Lake lent most frequently to those with DTI ratios of Exempt%, with 22 originations. The next most common DTI ratio? 20-30%, with 8 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 18 | $8,660,000 | $481,111 | $0 | 5.24% |
| White | 44 | $8,090,000 | $183,864 | $3,504 | 5.08% |
Approval Rates
Total approvals of all applications95.83%
Fnb Moose Lake has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination88.71%
Fnb Moose Lake has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1479.65 | 1 | $35,000 | $35,000 |
| 91.0 | 1 | $25,000 | $25,000 |
| Exempt | 22 | $9,020,000 | $410,000 |
| NA | 38 | $7,670,000 | $201,842 |