First National Bank Of Elk River Mortgage Rates, Fees & Info

Elk River, MN

LEI: 549300Q6UYO4VXM0VF43

Tax ID: 41-0235905

Latest/2024 | 2023 Data | 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
  • Similar Lenders
  • 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 Of Elk River is a smaller bank specializing in Home Purchase and Refi loans. First National Bank Of Elk River has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Duluth, and St. Cloud 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.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    30

    Origination Dollar Volume (All Markets)

    $6,260,000

    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
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 24 $5,110,000 $212,917 $0 0.00%
    DULUTH, MN-WI (FHA|USDA|VA) 2 $670,000 $335,000 $0 0.00%
    ST. CLOUD, MN (FHA|USDA|VA) 2 $280,000 $140,000 $0 0.00%
    Outside of Metro Areas 2 $200,000 $100,000 $0 0.00%
    First National Bank Of Elk River's top markets include Minneapolis, Duluth, and St. Cloud among others.

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

    • 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.

    MY Credit Union
    Similarity Rank: 130
    SHAREPOINT CREDIT UNION
    Similarity Rank: 348
    ST. CLOUD FINANCIAL
    Similarity Rank: 742
    VERIDIAN CREDIT UNION
    Similarity Rank: 915
    Cornerstone State Bank
    Similarity Rank: 936
    TOPLINE FEDERAL CREDIT UNION
    Similarity Rank: 975
    Liberty Bank Minnesota
    Similarity Rank: 1188
    IDEAL
    Similarity Rank: 1200
    University of Wisconsin Credit Union
    Similarity Rank: 1295
    CENTRAL MINNESOTA Credit Union
    Similarity Rank: 1323

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 30 $6,260,000 $208,667 $0 0.00%

    For 2024, First National Bank Of Elk River's most frequently originated type of loan was Conventional, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 14 $4,270,000 $305,000 $0 0.00%
    Refi 11 $1,655,000 $150,455 $0 0.00%
    Home Improvement 4 $160,000 $40,000 $0 0.00%
    Cash Out Refi 1 $175,000 $175,000 $0 0.00%

    For 2024, First National Bank Of Elk River's most frequently cited loan purpose was Home Purchase, with 14 originations. The 2nd most popular reason was Refi, with 11 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 30 $6,260,000 $208,667 $0 0.00%

    For 2024, First National Bank Of Elk River's most frequently cited loan duration was Other, with 30 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 9 $255,000 $28,333 $0 0.00%
    $100k-200k 9 $1,405,000 $156,111 $0 0.00%
    $200k-400k 8 $2,020,000 $252,500 $0 0.00%
    $600k-1MM 3 $2,015,000 $671,667 $0 0.00%
    $400k-600k 1 $565,000 $565,000 $0 0.00%

    2024 saw First National Bank Of Elk River place emphasis on $100,000 or less loans with 9 originations, totaling $255,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 6 $2,470,000 $411,667 $0 0.00%
    $50k-75k 6 $740,000 $123,333 $0 0.00%
    $150k-250k 5 $1,285,000 $257,000 $0 0.00%
    $100k-150k 4 $650,000 $162,500 $0 0.00%
    $75k-100k 4 $610,000 $152,500 $0 0.00%
    $50k or less 2 $50,000 $25,000 $0 0.00%

    First National Bank Of Elk River lent most frequently to those with incomes in the $250k+ range, with 6 originations. The second most popular income band? $50k-75k, with 6 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 25 $5,415,000 $216,600 $0 0.00%
    Not applicable 3 $455,000 $151,667 $0 0.00%
    Black 1 $335,000 $335,000 $0 0.00%
    Not provided 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.11%

    First National Bank Of Elk River has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.33%

    First National Bank Of Elk River has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 30 $6,260,000 $208,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    30 $6,260,000 $208,667