American Federal Bank Mortgage Rates, Fees & InfoFargo, ND
Tax ID: 41-0229822
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewAmerican 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, Fergus Falls, Minneapolis, and Brainerd among others. We have data for 16 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.
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Origination Dollar Volume (All Markets)$76,925,000
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)||78||$41,020,000||$525,897||$0||0.00%|
|GRAND FORKS, ND-MN (FHA|USDA|VA)||50||$14,230,000||$284,600||$0||0.00%|
|Outside of Metro Areas||31||$6,945,000||$224,032||$0||0.00%|
|Fergus Falls, MN (FHA|USDA|VA)||18||$4,150,000||$230,556||$0||0.00%|
|MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA)||14||$4,090,000||$292,143||$0||0.00%|
|Brainerd, MN (FHA|USDA|VA)||3||$1,085,000||$361,667||$0||0.00%|
|Jamestown, ND (FHA|USDA|VA)||1||$1,005,000||$1,005,000||$0||0.00%|
|Alexandria, MN (FHA|USDA|VA)||4||$980,000||$245,000||$0||0.00%|
|ROCHESTER, MN (FHA|USDA|VA)||2||$860,000||$430,000||$0||0.00%|
|Wahpeton, ND-MN (FHA|USDA|VA)||5||$715,000||$143,000||$0||0.00%|
|Bemidji, MN (FHA|USDA|VA)||4||$530,000||$132,500||$0||0.00%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||1||$385,000||$385,000||$0||0.00%|
|ST. CLOUD, MN (FHA|USDA|VA)||1||$345,000||$345,000||$0||0.00%|
|LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA)||1||$265,000||$265,000||$0||0.00%|
|Minot, ND (FHA|USDA|VA)||1||$245,000||$245,000||$0||0.00%|
|LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA)||1||$75,000||$75,000||$0||0.00%|
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, American Federal Bank's most frequently originated type of loan was Conventional, with 205 originations. Their 2nd most popular type was FHA, with 10 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||21||$5,075,000||$241,667||$0||0.00%|
For 2022, American Federal Bank's most frequently cited loan purpose was Home Purchase, with 132 originations. The 2nd most popular reason was Refi, with 32 originations.
|Loan Length||Originations||Total Value||Average Loan||Average Fees||Average Rate|
For 2022, American Federal Bank's most frequently cited loan duration was Other, with 215 originations.
2022 saw American Federal Bank place emphasis on $100k-200k loans with 76 originations, totaling $11,260,000 in origination value.
American Federal Bank lent most frequently to those with incomes in the $50k-75k range, with 28 originations. The second most popular income band? $50k or less, with 23 originations.
Applicant Debt to Income Ratio
|DTI Ratio||Originations||Total Value||Average Loan||Average Fees||Average Rate|
American Federal Bank lent most frequently to those with DTI ratios of Exempt%, with 215 originations.
Approval RatesTotal approvals of all applications
American Federal Bank has an average approval rate.
Pick RateApprovals leading to origination
American Federal Bank has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2022 CPFB Complaints||% of Total Issues|
|AMERIS BANCORP||Conventional home mortgage||Trouble during payment process||1||100.0%|