Gate City Bank Mortgage Rates, Fees & Info
Fargo, NDLEI: 549300TQVOMKNKFOH392
Tax ID: 45-0138060
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Gate City Bank is a smaller bank specializing in Home Purchase loans. Gate City Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Fargo, Bismarck, Grand Forks, Minot, and Williston among others. We have data for 52 markets. (Some data included below & more in-depth data is available with an active subscription.)Gate City 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. Gate City Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 7.38% | 4/5/25 |
| 30 Year Conventional Purchase | 6.50% | 4/5/25 |
| 30 Year Conventional Refi | 7.33% | 4/5/25 |
| 30 Year Cash-out Refi | 6.57% | 4/5/25 |
| 30 Year FHA Purchase | 6.44% | 4/5/25 |
| 30 Year FHA Refi | 6.28% | 4/5/25 |
| 30 Year VA Purchase | 5.65% | 4/5/25 |
| 30 Year VA Refi | 6.08% | 4/5/25 |
| 30 Year USDA Purchase | 6.56% | 4/5/25 |
| 15 Year Conventional Purchase | 5.77% | 4/5/25 |
| 15 Year Conventional Refi | 7.21% | 4/5/25 |
| 15 Year Cash-out Refi | 7.21% | 4/5/25 |
| 15 Year FHA Purchase | 6.33% | 4/5/25 |
| 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. | ||
Gate City Bank Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Gate City 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
3,056Origination Dollar Volume (All Markets)
$562,340,000Awards
Gate City Bank - 2024
Gate City Bank is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
Work for Gate City Bank?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Gate City Bank's average 30 year fixed mortgage rate was
6.31%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.24%.
Relative Fees (Closing Costs)
Gate City Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,543.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 |
|---|---|---|---|---|---|
| FARGO, ND-MN (FHA|USDA|VA) | 1,018 | $179,640,000 | $176,464 | $3,217 | 7.08% |
| BISMARCK, ND (FHA|USDA|VA) | 574 | $112,050,000 | $195,209 | $3,455 | 6.86% |
| Outside of Metro Areas | 263 | $51,255,000 | $194,886 | $4,052 | 6.77% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 297 | $42,625,000 | $143,519 | $2,749 | 7.08% |
| Minot, ND (FHA|USDA|VA) | 218 | $36,550,000 | $167,661 | $4,354 | 6.73% |
| Williston, ND (FHA|USDA|VA) | 146 | $32,540,000 | $222,877 | $5,799 | 6.94% |
| Fergus Falls, MN (FHA|USDA|VA) | 122 | $27,160,000 | $222,623 | $4,208 | 6.83% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 56 | $13,280,000 | $237,143 | $4,128 | 6.88% |
| Dickinson, ND (FHA|USDA|VA) | 69 | $13,265,000 | $192,246 | $3,830 | 6.95% |
| Jamestown, ND (FHA|USDA|VA) | 78 | $11,090,000 | $142,179 | $2,616 | 6.41% |
| ST. CLOUD, MN (FHA|USDA|VA) | 38 | $8,330,000 | $219,211 | $3,369 | 6.75% |
| Wahpeton, ND-MN (FHA|USDA|VA) | 69 | $7,135,000 | $103,406 | $2,315 | 6.60% |
| Alexandria, MN (FHA|USDA|VA) | 43 | $6,585,000 | $153,140 | $3,633 | 6.95% |
| Brainerd, MN (FHA|USDA|VA) | 14 | $3,300,000 | $235,714 | $5,523 | 7.32% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 9 | $3,275,000 | $363,889 | $5,812 | 6.51% |
| Bemidji, MN (FHA|USDA|VA) | 5 | $1,325,000 | $265,000 | $4,927 | 7.08% |
| MADISON, WI (FHA|USDA|VA) | 1 | $885,000 | $885,000 | $4,385 | 6.13% |
| FLINT, MI (FHA|USDA|VA) | 1 | $695,000 | $695,000 | $0 | 7.50% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $3,057 | 7.00% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $5,220 | 7.17% |
| Winnemucca, NV (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $8,237 | 6.00% |
| Easton, MD (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $4,422 | 6.25% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $7,957 | 5.50% |
| MANKATO, MN (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $2,830 | 6.38% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $8,943 | 6.63% |
| Vermillion, SD (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $7,263 | 6.63% |
| LAWRENCE, KS (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $6,332 | 6.13% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $8,779 | 6.50% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $5,689 | 5.88% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $8,425 | 6.38% |
| AMES, IA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $6,596 | 6.38% |
| CASPER, WY (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 6.90% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 7.50% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $900 | 7.24% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $7,728 | 6.63% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $6,801 | 6.13% |
| AKRON, OH (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $7,179 | 6.50% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $5,807 | 6.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,397 | 6.38% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,151 | 6.00% |
| EAU CLAIRE, WI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,448 | 6.50% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,422 | 5.63% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,272 | 6.50% |
| Marshall, MN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,126 | 6.25% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 8.75% |
| JOPLIN, MO (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,695 | 6.50% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,715 | 7.13% |
| Grand Rapids, MN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,457 | 7.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,035 | 7.38% |
| Muskogee, OK (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,521 | 6.50% |
| Shelby, NC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,203 | 6.63% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,799 | 5.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against Gate City Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 16
Similarity Rank: 130
Similarity Rank: 180
Similarity Rank: 190
Similarity Rank: 336
Similarity Rank: 345
Similarity Rank: 348
Similarity Rank: 360
Similarity Rank: 380
Similarity Rank: 504
Product Mix
For 2024, Gate City Bank's most frequently originated type of loan was Conventional, with 2,315 originations. Their 2nd most popular type was HELOC, with 491 originations.
Loan Reason
For 2024, Gate City Bank's most frequently cited loan purpose was Home Purchase, with 1,411 originations. The 2nd most popular reason was Home Improvement, with 724 originations.
Loan Duration/Length
For 2024, Gate City Bank's most frequently cited loan duration was 30 Year, with 1,399 originations. The 2nd most popular length was 10 Year, with 762 originations.
Origination Fees/Closing Costs
Gate City Bank's average total fees were $5,543, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,348 originations.
Interest Rates
During 2024, Gate City Bank's average interest rate for loans was 6.31%, while their most frequently originated rate bucket for loans was 6-7%, with 953 originations.
Loan Sizing
2024 saw Gate City Bank place emphasis on $100,000 or less loans with 1,245 originations, totaling $62,415,000 in origination value.
Applicant Income
Gate City Bank lent most frequently to those with incomes in the $100k-150k range, with 804 originations. The second most popular income band? $150k-250k, with 742 originations.
Applicant Debt to Income Ratio
Gate City Bank lent most frequently to those with DTI ratios of 20-30%, with 700 originations. The next most common DTI ratio? 30-36%, with 598 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.75%
Gate City Bank has an average approval rate.
Pick Rate
Approvals leading to origination85.96%
Gate City Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,056 | $562,340,000 | $184,012 |