Alliance Bank Mortgage Rates, Fees & Info
Lake City, MNLEI: 549300SKSQ3IYUXJCH36
Tax ID: 41-0362490
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Mortgage Data
Review & Overview
Alliance Bank is a smaller bank specializing in Home Purchase and Refi loans. Alliance Bank has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Mankato, Red Wing, Naples, and Rochester among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Alliance Bank 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
90Origination Dollar Volume (All Markets)
$22,300,000Top 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) | 25 | $9,335,000 | $373,400 | $0 | 0.00% |
| Outside of Metro Areas | 16 | $2,470,000 | $154,375 | $0 | 0.00% |
| MANKATO, MN (FHA|USDA|VA) | 10 | $2,100,000 | $210,000 | $0 | 0.00% |
| Red Wing, MN (FHA|USDA|VA) | 8 | $2,040,000 | $255,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $1,645,000 | $548,333 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 10 | $1,490,000 | $149,000 | $0 | 0.00% |
| New Ulm, MN (FHA|USDA|VA) | 12 | $1,480,000 | $123,333 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $0 | 0.00% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| Mitchell, SD (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Fairmont, MN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Alliance Bank 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 | 90 | $22,300,000 | $247,778 | $0 | 0.00% |
For 2024, Alliance Bank's most frequently originated type of loan was Conventional, with 90 originations.
Loan Reason
For 2024, Alliance Bank's most frequently cited loan purpose was Home Purchase, with 46 originations. The 2nd most popular reason was Refi, with 21 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 90 | $22,300,000 | $247,778 | $0 | 0.00% |
For 2024, Alliance Bank's most frequently cited loan duration was Other, with 90 originations.
Loan Sizing
2024 saw Alliance Bank place emphasis on $200k-400k loans with 28 originations, totaling $8,570,000 in origination value.
Applicant Income
Alliance Bank lent most frequently to those with incomes in the $50k-75k range, with 18 originations. The second most popular income band? $150k-250k, with 14 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 90 | $22,300,000 | $247,778 | $0 | 0.00% |
Alliance Bank lent most frequently to those with DTI ratios of Exempt%, with 90 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.24%
Alliance 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 origination66.67%
Alliance Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 90 | $22,300,000 | $247,778 |