American Federal Bank Mortgage Rates, Fees & Info

Fargo, ND

LEI: 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

215

Origination Dollar Volume (All Markets)

$76,925,000

Top 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%
American Federal Bank's top markets include Fargo, Grand Forks, Fergus Falls, Minneapolis, and Brainerd among others.

Their top states include:
  • North Dakota (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 132 $38,300,000 $290,152 $0 0.00%
    Refi 32 $27,790,000 $868,438 $0 0.00%
    Home Improvement 30 $5,760,000 $192,000 $0 0.00%
    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 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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 76 $11,260,000 $148,158 $0 0.00%
    $200k-400k 54 $15,200,000 $281,481 $0 0.00%
    $100,000 or less 41 $2,235,000 $54,512 $0 0.00%
    $600k-1MM 17 $12,135,000 $713,824 $0 0.00%
    $400k-600k 16 $7,860,000 $491,250 $0 0.00%
    $1MM+ 11 $28,235,000 $2,566,818 $0 0.00%

    2022 saw American Federal Bank place emphasis on $100k-200k loans with 76 originations, totaling $11,260,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 28 $4,060,000 $145,000 $0 0.00%
    $50k or less 23 $2,625,000 $114,130 $0 0.00%
    $75k-100k 23 $4,655,000 $202,391 $0 0.00%
    $100k-150k 22 $3,880,000 $176,364 $0 0.00%
    $150k-250k 18 $5,090,000 $282,778 $0 0.00%
    $250k+ 18 $7,470,000 $415,000 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 71 $46,535,000 $655,423 $0 0.00%
    White 136 $27,920,000 $205,294 $0 0.00%
    Asian 2 $1,100,000 $550,000 $0 0.00%
    Black 2 $690,000 $345,000 $0 0.00%
    Not provided 3 $655,000 $218,333 $0 0.00%
    American Indian 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.74%

    American Federal Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.40%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    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%