Northview Bank Mortgage Rates, Fees & Info

Sandstone, MN

LEI: 549300VJ9DGB4OZNPL63

Tax ID: 41-0257370

5 stars

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

Review & Overview

Northview Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Northview Bank has a high proportion of conventional loans. Their top markets by origination volume include: Duluth, Minneapolis, Grand Rapids, Brainerd, and Bemidji among others. We have data for 19 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 an average 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
30 Year Conventional Purchase	6.58%	3/19/23
30 Year Conventional Refi	6.35%	3/19/23
30 Year Cash-out Refi	6.55%	3/19/23
30 Year VA Purchase	6.27%	3/19/23
30 Year VA Refi	6.27%	3/19/23
30 Year USDA Purchase	6.27%	3/19/23
15 Year Conventional Purchase	8.44%	3/19/23
15 Year Conventional Refi	5.81%	3/19/23
15 Year Cash-out Refi	5.81%	3/19/23
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.

Originations

593

Origination Dollar Volume (All Markets)

$111,385,000

Employee count

114

Awards

Northview Bank 30 Year Conventional Loans gold

Show all (1) awards

Relative Rate

Northview Bank's average 30 year fixed mortgage rate was 3.06%.

The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

This yields a difference of -0.09%.

Relative Fees (Closing Costs)

Northview Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,826.

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 $4,750.

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	300	$51,460,000	$171,533	$3,639	3.51%
DULUTH, MN-WI (FHA\|USDA\|VA)	136	$26,890,000	$197,721	$3,387	3.59%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA\|USDA\|VA)	73	$16,765,000	$229,658	$4,122	3.16%
Grand Rapids, MN (FHA\|USDA\|VA)	46	$8,640,000	$187,826	$3,282	3.40%
Brainerd, MN (FHA\|USDA\|VA)	16	$2,290,000	$143,125	$3,481	3.86%
Bemidji, MN (FHA\|USDA\|VA)	6	$1,140,000	$190,000	$3,933	3.37%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	1	$955,000	$955,000	$0	3.90%
Alexandria, MN (FHA\|USDA\|VA)	2	$790,000	$395,000	$5,884	3.19%
Marshall, MN (FHA\|USDA\|VA)	1	$345,000	$345,000	$5,269	2.88%
ST. CLOUD, MN (FHA\|USDA\|VA)	2	$310,000	$155,000	$3,442	3.06%
Red Wing, MN (FHA\|USDA\|VA)	1	$255,000	$255,000	$4,099	3.25%
ROCHESTER, MN (FHA\|USDA\|VA)	2	$250,000	$125,000	$2,874	3.19%
BISMARCK, ND (FHA\|USDA\|VA)	1	$225,000	$225,000	$4,309	2.50%
Albert Lea, MN (FHA\|USDA\|VA)	1	$215,000	$215,000	$3,618	2.38%
Fergus Falls, MN (FHA\|USDA\|VA)	1	$215,000	$215,000	$4,087	3.13%
LA CROSSE-ONALASKA, WI-MN (FHA\|USDA\|VA)	1	$185,000	$185,000	$3,031	2.95%
FARGO, ND-MN (FHA\|USDA\|VA)	1	$175,000	$175,000	$3,569	3.25%
Wisconsin Rapids-Marshfield, WI (FHA\|USDA\|VA)	1	$145,000	$145,000	$2,870	2.38%
WAUSAU-WESTON, WI (FHA\|USDA\|VA)	1	$135,000	$135,000	$2,659	3.00%

Northview Bank's top markets include Duluth, Minneapolis, Grand Rapids, Brainerd, and Bemidji among others.

Their top states include:

Minnesota (FHA|USDA|VA)

Wisconsin (FHA|USDA|VA)

Florida (FHA|USDA|VA)

North 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.

NORTHWOODS
Similarity Rank: 303

Western National Bank
Similarity Rank: 368

SUPERIOR CHOICE
Similarity Rank: 464

FIRST STATE MORTGAGE SERVICES, LLC
Similarity Rank: 564

Farmers & Merchants Savings Bank
Similarity Rank: 720

Anoka Hennepin Credit Union
Similarity Rank: 826

National Bank of Commerce
Similarity Rank: 935

MY Credit Union
Similarity Rank: 1200

Liberty Bank Minnesota
Similarity Rank: 1488

Bank Midwest
Similarity Rank: 1740

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	593	$111,385,000	$187,833	$3,619	3.47%

For 2021, Northview Bank's most frequently originated type of loan was Conventional, with 593 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	273	$55,765,000	$204,267	$3,841	3.98%
Cash Out Refi	183	$33,245,000	$181,667	$3,560	3.13%
Refi	100	$16,560,000	$165,600	$3,205	2.59%
Other	30	$4,960,000	$165,333	$3,388	3.56%
Home Improvement	7	$855,000	$122,143	$3,838	5.04%

For 2021, Northview Bank's most frequently cited loan purpose was Home Purchase, with 273 originations. The 2nd most popular reason was Cash Out Refi, with 183 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	268	$53,910,000	$201,157	$3,826	3.06%
15 Year	198	$26,040,000	$131,515	$3,024	3.43%
5 Year	42	$8,460,000	$201,429	$3,498	4.50%
30+ year	22	$7,190,000	$326,818	$6,382	5.05%
Other	21	$6,495,000	$309,286	$4,322	4.85%
20 Year	18	$3,460,000	$192,222	$3,482	2.86%
10 Year	18	$3,920,000	$217,778	$2,963	4.55%
1 Year	6	$1,910,000	$318,333	$7,667	3.99%

For 2021, Northview Bank's most frequently cited loan duration was 30 Year, with 268 originations. The 2nd most popular length was 15 Year, with 198 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	317	$45,595,000	$143,833
$2k-3k	127	$31,465,000	$247,756
$<1k	80	$5,690,000	$71,125
$3k-4k	31	$11,055,000	$356,613
$4k-5k	10	$4,550,000	$455,000
$5k+	4	$1,680,000	$420,000

Northview Bank's average total fees were $3,826, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 317 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	161	$40,305,000	$250,342
2.5-3%	149	$28,555,000	$191,644
<2.5%	116	$16,470,000	$141,983
4-5%	101	$16,925,000	$167,574
5-6%	64	$9,080,000	$141,875
6-7%	2	$50,000	$25,000

During 2021, Northview Bank's average interest rate for loans was 3.06%, while their most frequently originated rate bucket for loans was 3-4%, with 161 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	249	$36,755,000	$147,610	$3,268	3.30%
$200k-400k	178	$46,340,000	$260,337	$4,625	3.30%
$100,000 or less	140	$10,040,000	$71,714	$2,481	3.94%
$400k-600k	19	$9,075,000	$477,632	$6,747	3.79%
$1MM+	4	$6,570,000	$1,642,500	$0	4.13%
$600k-1MM	3	$2,605,000	$868,333	$0	3.82%

2021 saw Northview Bank place emphasis on $100k-200k loans with 249 originations, totaling $36,755,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	139	$21,295,000	$153,201	$3,364	3.26%
$100k-150k	135	$25,495,000	$188,852	$3,642	3.55%
$50k or less	101	$11,645,000	$115,297	$2,920	3.21%
$75k-100k	91	$16,955,000	$186,319	$3,812	3.25%
$150k-250k	90	$19,970,000	$221,889	$4,315	4.07%
$250k+	21	$6,035,000	$287,381	$4,815	3.68%

Northview Bank lent most frequently to those with incomes in the $50k-75k range, with 139 originations. The second most popular income band? $100k-150k, with 135 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	169	$28,165,000	$166,657	$3,537	3.46%
30-36%	141	$26,135,000	$185,355	$3,732	3.55%
<20%	64	$8,610,000	$134,531	$3,078	3.55%
41%	29	$5,545,000	$191,207	$3,756	3.65%
36%	24	$3,810,000	$158,750	$3,382	3.84%
42%	22	$4,170,000	$189,545	$3,778	3.36%
37%	21	$4,785,000	$227,857	$4,292	3.59%
39%	20	$3,330,000	$166,500	$3,689	3.61%
43%	20	$3,860,000	$193,000	$3,672	3.02%
40%	19	$3,315,000	$174,474	$3,448	2.98%
38%	14	$2,460,000	$175,714	$3,528	2.97%
44%	10	$1,840,000	$184,000	$3,622	3.00%
45%	9	$1,945,000	$216,111	$4,467	3.06%
49%	5	$965,000	$193,000	$3,846	2.80%
47%	4	$770,000	$192,500	$3,461	2.72%
46%	3	$945,000	$315,000	$5,051	2.96%
48%	2	$540,000	$270,000	$4,292	2.94%
50-60%	2	$510,000	$255,000	$7,667	4.85%

Northview Bank lent most frequently to those with DTI ratios of 20-30%, with 169 originations. The next most common DTI ratio? 30-36%, with 141 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	496	$87,590,000	$176,593	$3,611	3.39%
Not provided	79	$13,565,000	$171,709	$3,630	3.83%
Not applicable	13	$9,295,000	$715,000	$0	4.13%
American Indian	4	$890,000	$222,500	$4,622	4.62%
Black	1	$45,000	$45,000	$2,390	5.44%

Approval Rates

Total approvals of all applications
83.54%

Northview Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
68.13%

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	593	$111,385,000	$187,833

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	593	$111,385,000	$187,833

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	36	$3,610,000	$100,278	$2,847	3.27%
40-60%	112	$19,590,000	$174,911	$3,130	3.07%
60-80%	265	$52,945,000	$199,792	$3,880	3.49%
80-100%	172	$34,670,000	$201,570	$3,749	3.78%
Under 20%	8	$570,000	$71,250	$2,152	3.03%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Northview Bank	3697 Co Rd 140, 3697 County Road 140 Barnum, MN 55707	Full Service B&M	$20,059
Northview Bank	2203 Finland Ave Finlayson, MN 55735	Full Service B&M	$58,430
Northview Bank	130 West 7th Avenue Floodwood, MN 55736	Full Service B&M	$20,129
Northview Bank	200 East 1st Street Park Rapids, MN 56470	Full Service B&M	$81,656
Northview Bank	203 Old Highway 61 S Hinckley, MN 55037	Full Service B&M	$27,590
Northview Bank	40 4th Street Se Deer River, MN 56636	Full Service B&M	$20,601
Northview Bank	411 Pokegma Avenue South Grand Rapids, MN 55744	Full Service B&M	$14,331
Northview Bank	510 Main Street Sandstone, MN 55072	Full Service B&M	$31,160
Northview Bank	5584 Highway 210, Cardinal Building Cromwell, MN 55726	Full Service B&M	$20,639
Northview Bank	6340 Merchant St Askov, MN 55704	Full Service B&M	$26,707
Northview Bank	8132 County Highway 61 Willow River, MN 55795	Full Service B&M	$32,372
Northview Bank	8382 Main Street Kerrick, MN 55756	Full Service B&M	$12,235
Northview Bank	Railroad Street Floodwood, MN 55736	Limited, Drive-thru	$0

For 2021, Northview Bank had 13 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$16,209
Net interest income	$14,885
Total noninterest income	$5,006
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$253
Trading account gains and fees	$0
Additional Noninterest Income	$4,753
Pre-tax net operating income	$6,771
Securities gains (or losses, -)	$0
Income before extraordinary items	$6,303
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$6,303
Minority interest net income	$0
Net income	$6,303
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$6,303

Northview Bank's gross interest income from loans was $16,209,000.
Northview Bank's net interest income from loans was $14,885,000.
Northview Bank's fee based income from loans was $253,000.
Northview Bank's net income from loans was $6,303,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,324
Provision for credit losses	$450
Total noninterest expense	$12,670
Salaries and employee benefits	$7,570
Premises and equipment expense	$1,751
Additional noninterest expense	$3,349
Applicable income taxes	$468
Net charge-offs	$-1
Cash dividends	$5,360

Northview Bank's interest expense for loans was $1,324,000.
Northview Bank's payroll and benefits expense were $7,570,000.
Northview Bank's property, plant and equipment expenses $1,751,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	0.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	0.0%
Commercial & industrial loans	0.0%
Personal loans	0.0%
Credit card loans	0.0%
Other individual loans	0.0%
Auto loans	0.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$394,096
Deposits held in domestic offices	$394,096
Deposits by Individuals, partnerships, and corporations	$371,463
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$22,125
Deposits by Commercial banks and other depository institutions in U.S.	$509
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$182,425
Demand deposits	$109,867
Nontransaction accounts	$211,672
Money market deposit accounts (MMDAs)	$55,858
Other savings deposits (excluding MMDAs)	$70,783
Total time deposits	$85,031
Total time and savings deposits	$284,230
Noninterest-bearing deposits	$109,867
Interest-bearing deposits	$284,229
Retail deposits	$381,493
IRAs and Keogh plan accounts	$22,647
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$439,943
Cash & Balances due from depository institutions	$74,305
Interest-bearing balances	$64,340
Total securities	$101,644
Federal funds sold & reverse repurchase	$0
Net loans and leases	$240,680
Loan and leases loss allowance	$4,208
Trading account assets	$0
Bank premises and fixed assets	$9,950
Other real estate owned	$149
Goodwill and other intangibles	$4,949
All other assets	$8,266

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$439,943
Total Liabilities	$394,438
Total deposits	$394,096
Interest-bearing deposits	$284,229
Deposits held in domestic offices	$394,096
% insured (estimated)	$85
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$342

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$240,680
Loan and leases loss allowance	$4,208
Total loans and leases (domestic)	$244,888
All real estate loans	$210,628
Real estate loans in domestic offices	$210,628
Construction and development loans	$78,742
Residential 1-4 family construction	$8,540
Other construction, all land development and other land	$70,202
Loans secured by nonfarm nonresidential properties	$39,561
Nonfarm nonresidential secured by owner-occupied properties	$11,795
Commercial real estate & other non-farm, non-residential	$27,766
Multifamily residential real estate	$6,717
1-4 family residential loans	$80,196
Farmland loans	$5,412
Loans held in foreign offices	$0
Farm loans	$3,000
Commercial and industrial loans	$16,478
To non-U.S. addressees	$0
Loans to individuals	$12,136
Credit card loans	$505
Related Plans	$75
Consumer Auto Loans	$3,266
Other loans to individuals	$8,290
All other loans & leases	$2,646
Loans to foreign governments and official institutions	$0
Other loans	$365
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$0
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$310
Non 1-4 family restructured loans & leases	$275
Total loans and leases (foreign)	$0

Northview Bank had $240,680,000 of loans outstanding in 2021. $210,628,000 of loans were in real estate loans. $78,742,000 of loans were in development loans. $6,717,000 of loans were in multifamily mortgage loans. $80,196,000 of loans were in 1-4 family mortgage loans. $3,000,000 of loans were in farm loans. $505,000 of loans were in credit card loans. $3,266,000 of loans were in the auto loan category.

Small Business Loans

Categorization	# of Loans in Category	$ amount of loans (in 000's)	Average $/loan
Nonfarm, nonresidential loans - <$1MM	141	$30,246	$214,511
Nonfarm, nonresidential loans - <$100k	54	$2,268	$42,000
Nonfarm, nonresidential loans - $100-250k	44	$6,520	$148,182
Nonfarm, nonresidential loans - $250k-1MM	43	$21,458	$499,023
Commercial & Industrial, US addressed loans - <$1MM	226	$13,745	$60,819
Commercial & Industrial, US addressed loans - <$100k	192	$4,863	$25,328
Commercial & Industrial, US addressed loans - $100-250k	22	$3,661	$166,409
Commercial & Industrial, US addressed loans - $250k-1MM	12	$5,221	$435,083
Farmland loans - <$1MM	53	$2,780	$52,453
Farmland loans - <$100k	29	$1,202	$41,448
Farmland loans - $100-250k	22	$1,017	$46,227
Farmland loans - $250k-1MM	2	$561	$280,500
Agriculture operations loans - <$1MM	51	$2,390	$46,863
Agriculture operations loans - <$100k	45	$1,041	$23,133
Agriculture operations loans - $100-250k	4	$615	$153,750
Agriculture operations loans - $250k-1MM	2	$734	$367,000