The State Bank Of Faribault Mortgage Rates, Fees & Info
Faribault, MNLEI: 549300VE85K2XTVRSG76
Tax ID: 41-0246420
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
The State Bank Of Faribault is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. The State Bank Of Faribault has a high proportion of conventional loans. Their top markets by origination volume include: Faribault, Minneapolis, Owatonna, St. Cloud, and Brainerd among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)The State Bank Of Faribault 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
290Origination Dollar Volume (All Markets)
$56,140,000Top 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 |
|---|---|---|---|---|---|
| Faribault-Northfield, MN (FHA|USDA|VA) | 182 | $30,450,000 | $167,308 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 62 | $17,070,000 | $275,323 | $0 | 0.00% |
| Owatonna, MN (FHA|USDA|VA) | 16 | $2,220,000 | $138,750 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 5 | $1,205,000 | $241,000 | $0 | 0.00% |
| Outside of Metro Areas | 6 | $880,000 | $146,667 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 4 | $800,000 | $200,000 | $0 | 0.00% |
| MANKATO, MN (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $0 | 0.00% |
| Hutchinson, MN (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Bemidji, MN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Red Wing, MN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 290 | $56,140,000 | $193,586 | $0 | 0.00% |
For 2020, The State Bank Of Faribault's most frequently originated type of loan was Conventional, with 290 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 141 | $27,165,000 | $192,660 | $0 | 0.00% |
| Home Purchase | 82 | $15,320,000 | $186,829 | $0 | 0.00% |
| Cash Out Refi | 67 | $13,655,000 | $203,806 | $0 | 0.00% |
For 2020, The State Bank Of Faribault's most frequently cited loan purpose was Refi, with 141 originations. The 2nd most popular reason was Home Purchase, with 82 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 290 | $56,140,000 | $193,586 | $0 | 0.00% |
For 2020, The State Bank Of Faribault's most frequently cited loan duration was Other, with 290 originations.
Loan Sizing
2020 saw The State Bank Of Faribault place emphasis on $100k-200k loans with 138 originations, totaling $20,050,000 in origination value.
Applicant Income
The State Bank Of Faribault lent most frequently to those with incomes in the $100k-150k range, with 69 originations. The second most popular income band? $50k-75k, with 54 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 290 | $56,140,000 | $193,586 | $0 | 0.00% |
The State Bank Of Faribault lent most frequently to those with DTI ratios of Exempt%, with 290 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.69%
The State Bank Of Faribault has an average approval rate.
Pick Rate
Approvals leading to origination93.45%
The State Bank Of Faribault has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 290 | $56,140,000 | $193,586 |