Lakeview Bank Mortgage Rates, Fees & Info
Lakeville, MNLEI: 549300Q88XHYAWBJTS50
Tax ID: 20-1249966
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Mortgage Data
Review & Overview
Lakeview Bank is a smaller bank specializing in Home Purchase loans. Lakeview Bank has a high proportion of conventional loans. Lakeview Bank has an average proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Palm Bay, Red Wing, and Duluth among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Lakeview Bank 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
50Origination Dollar Volume (All Markets)
$9,510,000Top 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) | 44 | $7,800,000 | $177,273 | $4,610 | 5.73% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $0 | 5.50% |
| Red Wing, MN (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $5,658 | 5.88% |
| Outside of Metro Areas | 2 | $220,000 | $110,000 | $0 | 6.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 37 | $7,615,000 | $205,811 | $4,909 | 5.74% |
| Conventional | 13 | $1,895,000 | $145,769 | $0 | 0.00% |
For 2018, Lakeview Bank's most frequently originated type of loan was Conventional, with 37 originations. Their 2nd most popular type was Conventional, with 13 originations.
Loan Reason
For 2018, Lakeview Bank's most frequently cited loan purpose was Home Purchase, with 45 originations. The 2nd most popular reason was Home Improvement, with 2 originations.
Loan Duration/Length
For 2018, Lakeview Bank's most frequently cited loan duration was Other, with 21 originations. The 2nd most popular length was 1 Year, with 19 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $2k-3k | 3 | $685,000 | $228,333 |
| $3k-4k | 2 | $570,000 | $285,000 |
| $1k-2k | 1 | $185,000 | $185,000 |
| $4k-5k | 1 | $455,000 | $455,000 |
Lakeview Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 26 | $5,120,000 | $196,923 |
| 6-7% | 8 | $1,620,000 | $202,500 |
| 4-5% | 3 | $875,000 | $291,667 |
During 2018, Lakeview Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 26 originations.
Loan Sizing
2018 saw Lakeview Bank place emphasis on $100k-200k loans with 23 originations, totaling $3,565,000 in origination value.
Applicant Income
Lakeview Bank lent most frequently to those with incomes in the $150k-250k range, with 7 originations. The second most popular income band? $75k-100k, with 4 originations.
Applicant Debt to Income Ratio
Lakeview Bank lent most frequently to those with DTI ratios of 30-36%, with 3 originations. The next most common DTI ratio? 20-30%, with 2 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.49%
Lakeview Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination90.00%
Lakeview Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 50 | $9,510,000 | $190,200 |