Highland Bank Mortgage Rates, Fees & Info

St. Michael, MN

LEI: 549300TN0C13QXN1P552

Tax ID: 41-0627744

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Mortgage Data

Review & Overview

Highland Bank is a smaller bank specializing in Home Improvement, Other, and Cash Out Refi loans. Highland Bank has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Duluth, St. Cloud, Faribault, and Mankato among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Highland Bank has an 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

345

Origination Dollar Volume (All Markets)

$43,545,000

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) 319 $40,575,000 $127,194 $0 0.00%
Outside of Metro Areas 10 $1,320,000 $132,000 $0 0.00%
DULUTH, MN-WI (FHA|USDA|VA) 8 $860,000 $107,500 $0 0.00%
ST. CLOUD, MN (FHA|USDA|VA) 2 $170,000 $85,000 $0 0.00%
Faribault-Northfield, MN (FHA|USDA|VA) 2 $160,000 $80,000 $0 0.00%
MANKATO, MN (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
Red Wing, MN (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
Alexandria, MN (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Brainerd, MN (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
Highland Bank's top markets include Minneapolis, Duluth, St. Cloud, Faribault, and Mankato among others.

Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 345 $43,545,000 $126,217 $0 0.00%

    For 2023, Highland Bank's most frequently originated type of loan was Conventional, with 345 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 135 $12,005,000 $88,926 $0 0.00%
    Other 129 $15,615,000 $121,047 $0 0.00%
    Cash Out Refi 56 $8,780,000 $156,786 $0 0.00%
    Refi 15 $4,035,000 $269,000 $0 0.00%
    Home Purchase 10 $3,110,000 $311,000 $0 0.00%

    For 2023, Highland Bank's most frequently cited loan purpose was Home Improvement, with 135 originations. The 2nd most popular reason was Other, with 129 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 345 $43,545,000 $126,217 $0 0.00%

    For 2023, Highland Bank's most frequently cited loan duration was Other, with 345 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 186 $10,600,000 $56,989 $0 0.00%
    $100k-200k 112 $14,490,000 $129,375 $0 0.00%
    $200k-400k 36 $8,640,000 $240,000 $0 0.00%
    $400k-600k 4 $2,020,000 $505,000 $0 0.00%
    $600k-1MM 4 $2,990,000 $747,500 $0 0.00%
    $1MM+ 3 $4,805,000 $1,601,667 $0 0.00%

    2023 saw Highland Bank place emphasis on $100,000 or less loans with 186 originations, totaling $10,600,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 107 $12,175,000 $113,785 $0 0.00%
    $100k-150k 79 $6,985,000 $88,418 $0 0.00%
    $250k+ 74 $15,430,000 $208,514 $0 0.00%
    $75k-100k 39 $2,575,000 $66,026 $0 0.00%
    $50k-75k 28 $1,350,000 $48,214 $0 0.00%
    $50k or less 6 $200,000 $33,333 $0 0.00%

    Highland Bank lent most frequently to those with incomes in the $150k-250k range, with 107 originations. The second most popular income band? $100k-150k, with 79 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 345 $43,545,000 $126,217 $0 0.00%

    Highland Bank lent most frequently to those with DTI ratios of Exempt%, with 345 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 258 $27,770,000 $107,636 $0 0.00%
    Not provided 59 $9,745,000 $165,169 $0 0.00%
    Not applicable 12 $4,830,000 $402,500 $0 0.00%
    Black 8 $660,000 $82,500 $0 0.00%
    Asian 4 $250,000 $62,500 $0 0.00%
    Vietnamese 1 $105,000 $105,000 $0 0.00%
    American Indian 1 $65,000 $65,000 $0 0.00%
    Asian Indian 1 $65,000 $65,000 $0 0.00%
    Other Asian 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    81.93%

    Highland Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    81.74%

    Highland Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 345 $43,545,000 $126,217

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    345 $43,545,000 $126,217