First National Bank Of Elk River Mortgage Rates, Fees & Info
Elk River, MNLEI: 549300Q6UYO4VXM0VF43
Tax ID: 41-0235905
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
First National Bank Of Elk River is a smaller bank specializing in Home Purchase loans. First National Bank Of Elk River has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Brainerd, St. Cloud, and Duluth among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)First National Bank Of Elk River 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
35Origination Dollar Volume (All Markets)
$6,895,000Top 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) | 31 | $5,895,000 | $190,161 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against First National Bank of Elk River based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 35 | $6,895,000 | $197,000 | $0 | 0.00% |
For 2023, First National Bank Of Elk River's most frequently originated type of loan was Conventional, with 35 originations.
Loan Reason
For 2023, First National Bank Of Elk River's most frequently cited loan purpose was Home Purchase, with 18 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 35 | $6,895,000 | $197,000 | $0 | 0.00% |
For 2023, First National Bank Of Elk River's most frequently cited loan duration was Other, with 35 originations.
Loan Sizing
2023 saw First National Bank Of Elk River place emphasis on $100k-200k loans with 12 originations, totaling $1,860,000 in origination value.
Applicant Income
First National Bank Of Elk River lent most frequently to those with incomes in the $50k-75k range, with 8 originations. The second most popular income band? $150k-250k, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 35 | $6,895,000 | $197,000 | $0 | 0.00% |
First National Bank Of Elk River lent most frequently to those with DTI ratios of Exempt%, with 35 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.56%
First National Bank Of Elk River has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination80.00%
First National Bank Of Elk River has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 35 | $6,895,000 | $197,000 |