Village Bank Mortgage Rates, Fees & Info
St Francis, MNLEI: 549300NINH0YUSL4K137
Tax ID: 41-1729082
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Mortgage Data
Review & Overview
Village Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Village Bank has a high proportion of conventional loans. Their top two markets are Minneapolis and Brainerd .Village Bank 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.
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Originations
20Origination Dollar Volume (All Markets)
$5,610,000Top 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) | 19 | $5,335,000 | $280,789 | $0 | 0.00% |
Brainerd, MN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 20 | $5,610,000 | $280,500 | $0 | 0.00% |
For 2023, Village Bank's most frequently originated type of loan was Conventional, with 20 originations.
Loan Reason
For 2023, Village Bank's most frequently cited loan purpose was Home Purchase, with 8 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Other | 20 | $5,610,000 | $280,500 | $0 | 0.00% |
For 2023, Village Bank's most frequently cited loan duration was Other, with 20 originations.
Loan Sizing
2023 saw Village Bank place emphasis on $100,000 or less loans with 9 originations, totaling $385,000 in origination value.
Applicant Income
Village Bank lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $50k or less, with 3 originations.
Applicant Debt to Income Ratio
DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Exempt% | 20 | $5,610,000 | $280,500 | $0 | 0.00% |
Village Bank lent most frequently to those with DTI ratios of Exempt%, with 20 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.15%
Village 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 origination85.00%
Village Bank has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
Exempt | 20 | $5,610,000 | $280,500 |