Kensington Bank Mortgage Rates, Fees & Info
Cokato, MNLEI: 549300Q9WQZE336R0U94
Tax ID: 41-0257104
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Mortgage Data
Review & Overview
Kensington Bank is a smaller bank specializing in Home Purchase loans. Kensington Bank has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, St. Cloud, Willmar, Alexandria, and Cape Coral among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Kensington 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
65Origination Dollar Volume (All Markets)
$15,975,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 20 | $4,310,000 | $215,500 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 12 | $3,070,000 | $255,833 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 7 | $2,935,000 | $419,286 | $0 | 0.00% |
| Willmar, MN (FHA|USDA|VA) | 14 | $2,220,000 | $158,571 | $0 | 0.00% |
| Alexandria, MN (FHA|USDA|VA) | 4 | $1,470,000 | $367,500 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $0 | 0.00% |
| Hutchinson, MN (FHA|USDA|VA) | 4 | $490,000 | $122,500 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| Fergus Falls, MN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 65 | $15,975,000 | $245,769 | $0 | 0.00% |
For 2023, Kensington Bank's most frequently originated type of loan was Conventional, with 65 originations.
Loan Reason
For 2023, Kensington Bank's most frequently cited loan purpose was Home Purchase, with 47 originations. The 2nd most popular reason was Refi, with 14 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 65 | $15,975,000 | $245,769 | $0 | 0.00% |
For 2023, Kensington Bank's most frequently cited loan duration was Other, with 65 originations.
Loan Sizing
2023 saw Kensington Bank place emphasis on $100,000 or less loans with 21 originations, totaling $1,185,000 in origination value.
Applicant Income
Kensington Bank lent most frequently to those with incomes in the $50k-75k range, with 14 originations. The second most popular income band? $75k-100k, with 11 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 65 | $15,975,000 | $245,769 | $0 | 0.00% |
Kensington Bank lent most frequently to those with DTI ratios of Exempt%, with 65 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.18%
Kensington 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 origination93.85%
Kensington Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 65 | $15,975,000 | $245,769 |