First National Bank Bagley Mortgage Rates, Fees & Info

Bagley, MN

LEI: 549300OTZJELCR34CD18

Tax ID: 41-0136323

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    First National Bank Bagley is a smaller bank specializing in Home Purchase loans. First National Bank Bagley has a high proportion of conventional loans. Their top (well, only) market is Grand Forks.

    First National Bank Bagley has an 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

    45

    Origination Dollar Volume (All Markets)

    $4,715,000

    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
    Outside of Metro Areas 37 $4,275,000 $115,541 $1,831 5.40%
    GRAND FORKS, ND-MN (FHA|USDA|VA) 8 $440,000 $55,000 $1,384 5.71%
    First National Bank Bagley's top markets include and Grand Forks among others.

    Their top states include:
  • Minnesota (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 45 $4,715,000 $104,778 $1,774 5.46%

    For 2018, First National Bank Bagley's most frequently originated type of loan was Conventional, with 45 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 31 $4,045,000 $130,484 $2,031 5.42%
    Refi 7 $415,000 $59,286 $1,060 5.55%
    Home Improvement 6 $190,000 $31,667 $1,190 5.58%
    Other 1 $65,000 $65,000 $0 5.20%

    For 2018, First National Bank Bagley's most frequently cited loan purpose was Home Purchase, with 31 originations. The 2nd most popular reason was Refi, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 31 $2,515,000 $81,129 $1,621 5.47%
    Other 13 $2,125,000 $163,462 $2,118 5.42%
    3 Year 1 $75,000 $75,000 $0 5.50%

    For 2018, First National Bank Bagley's most frequently cited loan duration was 5 Year, with 31 originations. The 2nd most popular length was Other, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 26 $1,860,000 $71,538
    $1k-2k 10 $1,530,000 $153,000
    $2k-3k 3 $1,065,000 $355,000

    First National Bank Bagley's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 26 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 40 $3,950,000 $98,750
    6-7% 3 $85,000 $28,333
    4-5% 2 $680,000 $340,000

    During 2018, First National Bank Bagley's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 40 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 28 $1,360,000 $48,571 $1,339 5.53%
    $100k-200k 11 $1,585,000 $144,091 $2,251 5.40%
    $200k-400k 5 $1,335,000 $267,000 $2,393 5.28%
    $400k-600k 1 $435,000 $435,000 $2,993 4.95%

    2018 saw First National Bank Bagley place emphasis on $100,000 or less loans with 28 originations, totaling $1,360,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 21 $1,695,000 $80,714 $1,697 5.47%
    $75k-100k 9 $1,205,000 $133,889 $1,923 5.58%
    $50k-75k 7 $315,000 $45,000 $1,224 5.41%
    $150k-250k 4 $1,040,000 $260,000 $2,375 5.20%
    $100k-150k 3 $255,000 $85,000 $2,281 5.50%
    $250k+ 1 $205,000 $205,000 $1,383 5.20%

    First National Bank Bagley lent most frequently to those with incomes in the $50k or less range, with 21 originations. The second most popular income band? $75k-100k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 14 $840,000 $60,000 $1,453 5.53%
    <20% 6 $480,000 $80,000 $1,121 5.35%
    50-60% 5 $1,055,000 $211,000 $2,138 5.27%
    >60% 4 $170,000 $42,500 $1,147 5.61%
    45% 3 $255,000 $85,000 $2,060 5.40%
    40% 2 $180,000 $90,000 $2,106 5.50%
    41% 2 $550,000 $275,000 $2,460 5.18%
    30-36% 2 $140,000 $70,000 $2,322 6.00%
    38% 2 $140,000 $70,000 $1,908 5.35%
    39% 1 $325,000 $325,000 $2,953 5.35%
    48% 1 $105,000 $105,000 $1,935 5.50%
    49% 1 $155,000 $155,000 $2,697 5.50%
    36% 1 $185,000 $185,000 $3,193 5.20%
    42% 1 $135,000 $135,000 $1,418 5.50%

    First National Bank Bagley lent most frequently to those with DTI ratios of 20-30%, with 14 originations. The next most common DTI ratio? <20%, with 6 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 44 $4,610,000 $104,773 $1,770 5.46%
    American Indian 1 $105,000 $105,000 $1,935 5.50%

    Approval Rates

    Total approvals of all applications
    89.29%

    First National Bank Bagley has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.89%

    First National Bank Bagley has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 45 $4,715,000 $104,778

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 8 $590,000 $73,750
    Single Family (1-4 Units):Site-Built 37 $4,125,000 $111,486

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $240,000 $40,000 $1,257 5.62%
    40-60% 9 $955,000 $106,111 $1,699 5.43%
    60-80% 19 $1,995,000 $105,000 $1,771 5.43%
    80-100% 10 $1,480,000 $148,000 $2,090 5.46%
    Under 20% 1 $45,000 $45,000 $0 5.20%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Struggling to pay mortgage 1 50.0%
    FIRST NATIONAL BANK OF OMAHA Home equity loan or line of credit (HELOC) Closing on a mortgage 1 50.0%