American Federal Bank Mortgage Rates, Fees & Info
Fargo, NDLEI: 549300OHXNUMVE33Q475
Tax ID: 41-0229822
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Mortgage Data
Review & Overview
American Federal Bank is a smaller bank specializing in Home Purchase 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, Willmar, and Phoenix among others. We have data for 13 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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Originations
200Origination Dollar Volume (All Markets)
$67,500,000Top 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) | 70 | $27,650,000 | $395,000 | $0 | 0.00% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 55 | $16,655,000 | $302,818 | $0 | 0.00% |
| Fergus Falls, MN (FHA|USDA|VA) | 23 | $6,655,000 | $289,348 | $0 | 0.00% |
| Outside of Metro Areas | 29 | $6,305,000 | $217,414 | $0 | 0.00% |
| Willmar, MN (FHA|USDA|VA) | 1 | $3,005,000 | $3,005,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $1,910,000 | $955,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 3 | $1,425,000 | $475,000 | $0 | 0.00% |
| Wahpeton, ND-MN (FHA|USDA|VA) | 7 | $1,345,000 | $192,143 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $1,225,000 | $1,225,000 | $0 | 0.00% |
| Alexandria, MN (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $0 | 0.00% |
| Bemidji, MN (FHA|USDA|VA) | 4 | $370,000 | $92,500 | $0 | 0.00% |
| BISMARCK, ND (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 196 | $66,980,000 | $341,735 | $0 | 0.00% |
| FHA | 4 | $520,000 | $130,000 | $0 | 0.00% |
For 2024, American Federal Bank's most frequently originated type of loan was Conventional, with 196 originations. Their 2nd most popular type was FHA, with 4 originations.
Loan Reason
For 2024, American Federal Bank's most frequently cited loan purpose was Home Purchase, with 146 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 200 | $67,500,000 | $337,500 | $0 | 0.00% |
For 2024, American Federal Bank's most frequently cited loan duration was Other, with 200 originations.
Loan Sizing
2024 saw American Federal Bank place emphasis on $200k-400k loans with 71 originations, totaling $19,355,000 in origination value.
Applicant Income
American Federal Bank lent most frequently to those with incomes in the $100k-150k range, with 31 originations. The second most popular income band? $250k+, with 26 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 200 | $67,500,000 | $337,500 | $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 applications94.30%
American Federal Bank has an average approval rate.
Pick Rate
Approvals leading to origination80.00%
American Federal Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 200 | $67,500,000 | $337,500 |