Foresight Bank Mortgage Rates, Fees & Info
Plainview, MNLEI: 549300URHBBJ2KIQ3616
Tax ID: 46-1257779
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Foresight Bank is a smaller bank specializing in Home Purchase loans. Foresight Bank has a high proportion of conventional loans. Their top markets by origination volume include: Rochester, Austin, Minneapolis, Winona, and Red Wing among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Foresight Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
149Origination Dollar Volume (All Markets)
$36,245,000Top 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 |
|---|---|---|---|---|---|
| ROCHESTER, MN (FHA|USDA|VA) | 117 | $27,015,000 | $230,897 | $0 | 0.00% |
| Austin, MN (FHA|USDA|VA) | 8 | $3,840,000 | $480,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 7 | $1,825,000 | $260,714 | $0 | 0.00% |
| Outside of Metro Areas | 7 | $1,595,000 | $227,857 | $0 | 0.00% |
| Winona, MN (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $0 | 0.00% |
| Red Wing, MN (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Albert Lea, MN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Mason City, IA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 149 | $36,245,000 | $243,255 | $0 | 0.00% |
For 2022, Foresight Bank's most frequently originated type of loan was Conventional, with 149 originations.
Loan Reason
For 2022, Foresight Bank's most frequently cited loan purpose was Home Purchase, with 115 originations. The 2nd most popular reason was Refi, with 23 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 149 | $36,245,000 | $243,255 | $0 | 0.00% |
For 2022, Foresight Bank's most frequently cited loan duration was Other, with 149 originations.
Loan Sizing
2022 saw Foresight Bank place emphasis on $200k-400k loans with 68 originations, totaling $18,570,000 in origination value.
Applicant Income
Foresight Bank lent most frequently to those with incomes in the $100k-150k range, with 32 originations. The second most popular income band? $50k-75k, with 25 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 149 | $36,245,000 | $243,255 | $0 | 0.00% |
Foresight Bank lent most frequently to those with DTI ratios of Exempt%, with 149 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.35%
Foresight 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 origination90.60%
Foresight Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 149 | $36,245,000 | $243,255 |