American Federal Bank Mortgage Rates, Fees & Info
Fargo, NDLEI: 549300OHXNUMVE33Q475
Tax ID: 41-0229822
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
American Federal Bank is a smaller bank specializing in Home Purchase and Refi loans. American Federal Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Fargo, Grand Forks, Minneapolis, Fergus Falls, and Wahpeton among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)American Federal 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.
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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
200Origination Dollar Volume (All Markets)
$63,320,000Top 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 |
|---|---|---|---|---|---|
| FARGO, ND-MN (FHA|USDA|VA) | 60 | $24,340,000 | $405,667 | $0 | 0.00% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 38 | $9,420,000 | $247,895 | $0 | 0.00% |
| Outside of Metro Areas | 45 | $8,965,000 | $199,222 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 14 | $6,360,000 | $454,286 | $0 | 0.00% |
| Fergus Falls, MN (FHA|USDA|VA) | 27 | $6,125,000 | $226,852 | $0 | 0.00% |
| Wahpeton, ND-MN (FHA|USDA|VA) | 4 | $2,830,000 | $707,500 | $0 | 0.00% |
| Alexandria, MN (FHA|USDA|VA) | 1 | $1,385,000 | $1,385,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $1,065,000 | $355,000 | $0 | 0.00% |
| BISMARCK, ND (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $0 | 0.00% |
| Bemidji, MN (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 195 | $62,765,000 | $321,872 | $0 | 0.00% |
| FHA | 4 | $90,000 | $22,500 | $0 | 0.00% |
| VA | 1 | $465,000 | $465,000 | $0 | 0.00% |
For 2023, American Federal Bank's most frequently originated type of loan was Conventional, with 195 originations. Their 2nd most popular type was FHA, with 4 originations.
Loan Reason
For 2023, American Federal Bank's most frequently cited loan purpose was Home Purchase, with 124 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 | 200 | $63,320,000 | $316,600 | $0 | 0.00% |
For 2023, American Federal Bank's most frequently cited loan duration was Other, with 200 originations.
Loan Sizing
2023 saw American Federal Bank place emphasis on $200k-400k loans with 66 originations, totaling $18,670,000 in origination value.
Applicant Income
American Federal Bank lent most frequently to those with incomes in the $100k-150k range, with 33 originations. The second most popular income band? $150k-250k, with 18 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 200 | $63,320,000 | $316,600 | $0 | 0.00% |
American Federal Bank lent most frequently to those with DTI ratios of Exempt%, with 200 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.82%
American Federal Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.50%
American Federal Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 200 | $63,320,000 | $316,600 |