Alliance Bank Mortgage Rates, Fees & Info

Lake City, MN

LEI: 549300SKSQ3IYUXJCH36

Tax ID: 41-0362490

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Mortgage Data

Review & Overview

Alliance Bank is a smaller bank specializing in Home Purchase loans. Alliance Bank has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Austin, New Ulm, Rochester, and Mankato among others. We have data for 14 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.

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.79% 4/14/24
30 Year Conventional Refi 6.76% 4/14/24
30 Year Cash-out Refi 6.76% 4/14/24
15 Year Conventional Purchase 6.00% 4/14/24
15 Year Conventional Refi 6.03% 4/14/24
15 Year Cash-out Refi 6.03% 4/14/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Alliance Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Alliance Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

99

Origination Dollar Volume (All Markets)

$22,115,000

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) 35 $8,225,000 $235,000 $0 0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $3,205,000 $3,205,000 $0 0.00%
Outside of Metro Areas 13 $2,905,000 $223,462 $0 0.00%
New Ulm, MN (FHA|USDA|VA) 25 $2,415,000 $96,600 $0 0.00%
ROCHESTER, MN (FHA|USDA|VA) 7 $1,565,000 $223,571 $0 0.00%
MANKATO, MN (FHA|USDA|VA) 6 $1,240,000 $206,667 $0 0.00%
Red Wing, MN (FHA|USDA|VA) 5 $765,000 $153,000 $0 0.00%
GREEN BAY, WI (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
Fairmont, MN (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
THE VILLAGES, FL (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
SIOUX FALLS, SD (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Alliance Bank's top markets include Minneapolis, Austin, New Ulm, Rochester, and Mankato among others.

Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • 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.

    Citizens Bank Minnesota
    Similarity Rank: 48
    South Metro Federal Credit Union
    Similarity Rank: 55
    MY Credit Union
    Similarity Rank: 225
    Cornerstone State Bank
    Similarity Rank: 456
    IOWA BANKERS MORTGAGE CORPORATION
    Similarity Rank: 464
    SHAREPOINT CREDIT UNION
    Similarity Rank: 745
    Mortgages Unlimited Inc.
    Similarity Rank: 1122
    IDEAL
    Similarity Rank: 1152
    Liberty Bank Minnesota
    Similarity Rank: 1166
    ST. CLOUD FINANCIAL
    Similarity Rank: 1179

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 99 $22,115,000 $223,384 $0 0.00%

    For 2023, Alliance Bank's most frequently originated type of loan was Conventional, with 99 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 60 $17,480,000 $291,333 $0 0.00%
    Refi 19 $2,425,000 $127,632 $0 0.00%
    Home Improvement 8 $550,000 $68,750 $0 0.00%
    Other 8 $720,000 $90,000 $0 0.00%
    Cash Out Refi 4 $940,000 $235,000 $0 0.00%

    For 2023, Alliance Bank's most frequently cited loan purpose was Home Purchase, with 60 originations. The 2nd most popular reason was Refi, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 99 $22,115,000 $223,384 $0 0.00%

    For 2023, Alliance Bank's most frequently cited loan duration was Other, with 99 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 35 $5,325,000 $152,143 $0 0.00%
    $200k-400k 33 $8,205,000 $248,636 $0 0.00%
    $100,000 or less 23 $1,085,000 $47,174 $0 0.00%
    $600k-1MM 4 $2,770,000 $692,500 $0 0.00%
    $400k-600k 3 $1,525,000 $508,333 $0 0.00%
    $1MM+ 1 $3,205,000 $3,205,000 $0 0.00%

    2023 saw Alliance Bank place emphasis on $100k-200k loans with 35 originations, totaling $5,325,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 18 $3,990,000 $221,667 $0 0.00%
    $100k-150k 17 $2,815,000 $165,588 $0 0.00%
    $75k-100k 12 $1,850,000 $154,167 $0 0.00%
    $50k-75k 11 $895,000 $81,364 $0 0.00%
    $50k or less 11 $1,285,000 $116,818 $0 0.00%
    $250k+ 7 $3,965,000 $566,429 $0 0.00%

    Alliance Bank lent most frequently to those with incomes in the $150k-250k range, with 18 originations. The second most popular income band? $100k-150k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 99 $22,115,000 $223,384 $0 0.00%

    Alliance Bank lent most frequently to those with DTI ratios of Exempt%, with 99 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 67 $12,415,000 $185,299 $0 0.00%
    Not applicable 21 $6,895,000 $328,333 $0 0.00%
    Not provided 8 $1,650,000 $206,250 $0 0.00%
    Black 1 $765,000 $765,000 $0 0.00%
    Native Hawaiian or Islander 1 $265,000 $265,000 $0 0.00%
    Asian 1 $125,000 $125,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.59%

    Alliance Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    73.74%

    Alliance Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 99 $22,115,000 $223,384

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    99 $22,115,000 $223,384