Visionbank Mortgage Rates, Fees & Info
Fargo, NDLEI: 549300R9WS7FTSHD0V89
Tax ID: 20-0987179
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Mortgage Data
Review & Overview
Visionbank is a smaller bank specializing in Home Purchase and Refi loans. Visionbank has a high proportion of conventional loans. Their top markets by origination volume include: Fargo, Fergus Falls, Minneapolis, Phoenix, and Punta Gorda among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Visionbank 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
91Origination Dollar Volume (All Markets)
$20,025,000Top 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 |
|---|---|---|---|---|---|
| FARGO, ND-MN (FHA|USDA|VA) | 66 | $13,420,000 | $203,333 | $0 | 0.00% |
| Fergus Falls, MN (FHA|USDA|VA) | 9 | $1,855,000 | $206,111 | $0 | 0.00% |
| Outside of Metro Areas | 9 | $1,425,000 | $158,333 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2 | $1,290,000 | $645,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $1,215,000 | $1,215,000 | $0 | 0.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Alexandria, MN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Wahpeton, ND-MN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against VISIONBank 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 | 91 | $20,025,000 | $220,055 | $0 | 0.00% |
For 2022, Visionbank's most frequently originated type of loan was Conventional, with 91 originations.
Loan Reason
For 2022, Visionbank's most frequently cited loan purpose was Home Purchase, with 43 originations. The 2nd most popular reason was Refi, with 22 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 91 | $20,025,000 | $220,055 | $0 | 0.00% |
For 2022, Visionbank's most frequently cited loan duration was Other, with 91 originations.
Loan Sizing
2022 saw Visionbank place emphasis on $100,000 or less loans with 37 originations, totaling $2,125,000 in origination value.
Applicant Income
Visionbank lent most frequently to those with incomes in the $100k-150k range, with 17 originations. The second most popular income band? $250k+, with 16 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 91 | $20,025,000 | $220,055 | $0 | 0.00% |
Visionbank lent most frequently to those with DTI ratios of Exempt%, with 91 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.37%
Visionbank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination78.02%
Visionbank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 91 | $20,025,000 | $220,055 |