Security State Bank Of Marine Mortgage Rates, Fees & Info
Marine on St Croix, MNLEI: 549300OQMIO8XPU2KT43
Tax ID: 41-0531810
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Mortgage Data
Review & Overview
Security State Bank Of Marine is a smaller bank specializing in Home Purchase loans. Security State Bank Of Marine has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Duluth, and Milwaukee among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Security State Bank Of Marine has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
87Origination Dollar Volume (All Markets)
$21,255,000Top 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 77 | $18,935,000 | $245,909 | $0 | 0.00% |
| Outside of Metro Areas | 7 | $1,655,000 | $236,429 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $0 | 0.00% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 87 | $21,255,000 | $244,310 | $0 | 0.00% |
For 2023, Security State Bank Of Marine's most frequently originated type of loan was Conventional, with 87 originations.
Loan Reason
For 2023, Security State Bank Of Marine's most frequently cited loan purpose was Home Purchase, with 61 originations. The 2nd most popular reason was Other, with 15 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 87 | $21,255,000 | $244,310 | $0 | 0.00% |
For 2023, Security State Bank Of Marine's most frequently cited loan duration was Other, with 87 originations.
Loan Sizing
2023 saw Security State Bank Of Marine place emphasis on $200k-400k loans with 30 originations, totaling $8,090,000 in origination value.
Applicant Income
Security State Bank Of Marine lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $75k-100k, with 13 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 87 | $21,255,000 | $244,310 | $0 | 0.00% |
Security State Bank Of Marine lent most frequently to those with DTI ratios of Exempt%, with 87 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.74%
Security State Bank Of Marine has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination96.55%
Security State Bank Of Marine has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 87 | $21,255,000 | $244,310 |