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 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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Originations
215Origination Dollar Volume (All Markets)
$76,925,000Top 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) | 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% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 205 | $76,705,000 | $374,171 | $0 | 0.00% |
| FHA | 10 | $220,000 | $22,000 | $0 | 0.00% |
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
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 Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 215 | $76,925,000 | $357,791 | $0 | 0.00% |
For 2022, American Federal Bank's most frequently cited loan duration was Other, with 215 originations.
Loan Sizing
2022 saw American Federal Bank place emphasis on $100k-200k loans with 76 originations, totaling $11,260,000 in origination value.
Applicant Income
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 |
|---|---|---|---|---|---|
| Exempt% | 215 | $76,925,000 | $357,791 | $0 | 0.00% |
American Federal Bank lent most frequently to those with DTI ratios of Exempt%, with 215 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.74%
American Federal Bank has an average approval rate.
Pick Rate
Approvals leading to origination81.40%
American Federal Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 215 | $76,925,000 | $357,791 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| AMERIS BANCORP | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |