Northview Bank Mortgage Rates, Fees & Info

Sandstone, MN

LEI: 549300VJ9DGB4OZNPL63

Tax ID: 41-0257370

5 stars - Updated: 12/9/24 - out of 5 stars, based on 16 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Northview Bank is a smaller bank specializing in Home Purchase loans. Northview Bank has a high proportion of conventional loans. Their top markets by origination volume include: Duluth, Minneapolis, Grand Rapids, Brainerd, and La Crosse among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

Northview 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. Northview 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 relatively high 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
30 Year Conventional Purchase 6.59% 12/9/24
30 Year Conventional Refi 6.52% 12/9/24
30 Year Cash-out Refi 6.71% 12/9/24
30 Year FHA Purchase 6.27% 12/9/24
30 Year VA Purchase 6.27% 12/9/24
15 Year Conventional Purchase 6.99% 12/9/24
15 Year Conventional Refi 6.50% 12/9/24
15 Year Cash-out Refi 6.50% 12/9/24
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.

Northview Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Northview 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

245

Origination Dollar Volume (All Markets)

$48,155,000

Awards

Northview Bank 30 Year Conventional Loans silver Northview Bank 30 Year Conventional Loans bronze
Show all (2) awards

Relative Rate

Northview Bank's average 30 year fixed mortgage rate was 6.76%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.28%.

Relative Fees (Closing Costs)

Northview Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,292.

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 $9,089.

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
Outside of Metro Areas 133 $24,245,000 $182,293 $4,082 6.99%
DULUTH, MN-WI (FHA|USDA|VA) 58 $10,830,000 $186,724 $4,311 7.11%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 19 $6,085,000 $320,263 $5,816 6.94%
Grand Rapids, MN (FHA|USDA|VA) 15 $2,235,000 $149,000 $3,833 6.83%
Brainerd, MN (FHA|USDA|VA) 7 $1,535,000 $219,286 $5,280 6.80%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 2 $780,000 $390,000 $7,019 6.33%
ST. CLOUD, MN (FHA|USDA|VA) 2 $500,000 $250,000 $4,994 6.47%
Alexandria, MN (FHA|USDA|VA) 2 $450,000 $225,000 $5,396 6.97%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $355,000 $355,000 $4,694 7.63%
Hutchinson, MN (FHA|USDA|VA) 1 $265,000 $265,000 $4,937 7.13%
Bemidji, MN (FHA|USDA|VA) 1 $245,000 $245,000 $4,083 6.50%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $245,000 $245,000 $0 7.75%
ROCHESTER, MN (FHA|USDA|VA) 1 $165,000 $165,000 $0 6.43%
Fergus Falls, MN (FHA|USDA|VA) 1 $165,000 $165,000 $3,824 6.68%
GRAND FORKS, ND-MN (FHA|USDA|VA) 1 $55,000 $55,000 $2,539 6.78%
Northview Bank's top markets include Duluth, Minneapolis, Grand Rapids, Brainerd, and La Crosse among others.

Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Northview Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    North Shore Federal Credit Union
    Similarity Rank: 28
    South Metro Federal Credit Union
    Similarity Rank: 55
    National Bank of Commerce
    Similarity Rank: 192
    Northview Bank
    Similarity Rank: 195
    MY Credit Union
    Similarity Rank: 225
    SUPERIOR CHOICE
    Similarity Rank: 285
    Park State Bank
    Similarity Rank: 392
    Cornerstone State Bank
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    MEMBERS COOPERATIVE
    Similarity Rank: 462
    North Shore Bank of Commerce
    Similarity Rank: 624

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 245 $48,155,000 $196,551 $4,329 6.99%

    For 2023, Northview Bank's most frequently originated type of loan was Conventional, with 245 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 181 $37,905,000 $209,420 $4,536 6.96%
    Other 28 $3,500,000 $125,000 $3,017 7.06%
    Cash Out Refi 26 $4,580,000 $176,154 $4,176 7.08%
    Home Improvement 7 $1,475,000 $210,714 $4,997 7.19%
    Refi 3 $695,000 $231,667 $5,234 6.78%

    For 2023, Northview Bank's most frequently cited loan purpose was Home Purchase, with 181 originations. The 2nd most popular reason was Other, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 76 $13,320,000 $175,263 $4,059 6.91%
    30 Year 72 $15,830,000 $219,861 $4,292 6.76%
    15 Year 48 $5,340,000 $111,250 $3,188 7.30%
    Other 33 $9,845,000 $298,333 $6,127 6.78%
    10 Year 7 $565,000 $80,714 $3,458 8.38%
    1 Year 5 $2,215,000 $443,000 $8,185 6.79%
    30+ year 4 $1,040,000 $260,000 $5,633 8.59%

    For 2023, Northview Bank's most frequently cited loan duration was 5 Year, with 76 originations. The 2nd most popular length was 30 Year, with 72 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 100 $12,530,000 $125,300
    $2k-3k 60 $13,690,000 $228,167
    $<1k 27 $1,965,000 $72,778
    $3k-4k 24 $8,040,000 $335,000
    $4k-5k 10 $3,990,000 $399,000
    $5k+ 9 $5,185,000 $576,111

    Northview Bank's average total fees were $4,292, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 100 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 133 $29,505,000 $221,842
    7-8% 82 $14,470,000 $176,463
    Over 8% 17 $2,415,000 $142,059
    5-6% 13 $1,765,000 $135,769

    During 2023, Northview Bank's average interest rate for loans was 6.76%, while their most frequently originated rate bucket for loans was 6-7%, with 133 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 87 $12,665,000 $145,575 $3,740 6.91%
    $200k-400k 81 $21,825,000 $269,444 $5,341 6.97%
    $100,000 or less 58 $3,750,000 $64,655 $2,548 7.24%
    $400k-600k 15 $6,935,000 $462,333 $7,040 6.63%
    $600k-1MM 4 $2,980,000 $745,000 $11,151 6.83%

    2023 saw Northview Bank place emphasis on $100k-200k loans with 87 originations, totaling $12,665,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 63 $12,545,000 $199,127 $4,605 6.97%
    $150k-250k 50 $11,900,000 $238,000 $4,807 6.94%
    $50k-75k 40 $5,730,000 $143,250 $3,594 7.21%
    $75k-100k 40 $7,030,000 $175,750 $3,960 7.01%
    $250k+ 23 $6,615,000 $287,609 $5,580 6.82%
    $50k or less 21 $2,075,000 $98,810 $3,119 6.90%

    Northview Bank lent most frequently to those with incomes in the $100k-150k range, with 63 originations. The second most popular income band? $150k-250k, with 50 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 52 $9,480,000 $182,308 $4,089 6.92%
    30-36% 51 $9,615,000 $188,529 $4,312 7.05%
    <20% 23 $3,115,000 $135,435 $3,464 6.87%
    42% 18 $4,130,000 $229,444 $4,989 6.94%
    38% 15 $3,405,000 $227,000 $4,692 6.71%
    37% 14 $2,060,000 $147,143 $3,855 7.28%
    41% 14 $2,810,000 $200,714 $4,704 7.28%
    36% 12 $2,120,000 $176,667 $4,241 7.16%
    39% 9 $1,605,000 $178,333 $4,304 6.99%
    40% 8 $2,140,000 $267,500 $5,564 7.05%
    43% 8 $2,190,000 $273,750 $5,702 6.73%
    44% 3 $485,000 $161,667 $3,477 7.67%
    45% 3 $675,000 $225,000 $4,251 6.75%
    46% 3 $485,000 $161,667 $3,095 6.58%
    47% 2 $980,000 $490,000 $6,822 6.69%
    49% 2 $490,000 $245,000 $4,656 7.00%
    48% 1 $205,000 $205,000 $4,100 6.38%
    50-60% 1 $235,000 $235,000 $0 7.25%
    >60% 1 $175,000 $175,000 $0 7.00%

    Northview Bank lent most frequently to those with DTI ratios of 20-30%, with 52 originations. The next most common DTI ratio? 30-36%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 220 $42,430,000 $192,864 $4,295 6.98%
    Not provided 18 $3,540,000 $196,667 $4,407 7.12%
    Not applicable 6 $1,820,000 $303,333 $0 7.25%
    American Indian 1 $365,000 $365,000 $10,205 6.50%

    Approval Rates

    Total approvals of all applications
    82.18%

    Northview Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    61.22%

    Northview Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 245 $48,155,000 $196,551

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    245 $48,155,000 $196,551

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $3,215,000 $139,783 $3,232 6.83%
    40-60% 36 $7,400,000 $205,556 $4,682 7.17%
    60-80% 103 $23,035,000 $223,641 $4,784 6.90%
    80-100% 69 $13,645,000 $197,754 $4,255 7.05%
    Under 20% 14 $860,000 $61,429 $2,229 7.18%