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 Home Purchase and Refi loans. The State Bank Of Faribault has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Faribault, Bremerton, Owatonna, and Palm Bay among others. We have data for 15 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
107Origination Dollar Volume (All Markets)
$31,805,000Top 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 32 | $13,220,000 | $413,125 | $0 | 0.00% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 44 | $10,210,000 | $232,045 | $0 | 0.00% |
| Outside of Metro Areas | 7 | $1,705,000 | $243,571 | $0 | 0.00% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 4 | $1,480,000 | $370,000 | $0 | 0.00% |
| Owatonna, MN (FHA|USDA|VA) | 5 | $985,000 | $197,000 | $0 | 0.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $900,000 | $450,000 | $0 | 0.00% |
| Red Wing, MN (FHA|USDA|VA) | 4 | $680,000 | $170,000 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 0.00% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $0 | 0.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| North Wilkesboro, NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| Winona, MN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 107 | $31,805,000 | $297,243 | $0 | 0.00% |
For 2022, The State Bank Of Faribault's most frequently originated type of loan was Conventional, with 107 originations.
Loan Reason
For 2022, The State Bank Of Faribault's most frequently cited loan purpose was Home Purchase, with 63 originations. The 2nd most popular reason was Refi, with 34 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 107 | $31,805,000 | $297,243 | $0 | 0.00% |
For 2022, The State Bank Of Faribault's most frequently cited loan duration was Other, with 107 originations.
Loan Sizing
2022 saw The State Bank Of Faribault place emphasis on $200k-400k loans with 39 originations, totaling $11,515,000 in origination value.
Applicant Income
The State Bank Of Faribault lent most frequently to those with incomes in the $100k-150k range, with 20 originations. The second most popular income band? $150k-250k, with 19 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 107 | $31,805,000 | $297,243 | $0 | 0.00% |
The State Bank Of Faribault lent most frequently to those with DTI ratios of Exempt%, with 107 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.24%
The State Bank Of Faribault has an average approval rate.
Pick Rate
Approvals leading to origination96.26%
The State Bank Of Faribault has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 107 | $31,805,000 | $297,243 |