Onb Bank Mortgage Rates, Fees & Info

Rochester, MN

LEI: 549300Y6FW0UWRZJW587

Tax ID: 41-1826950

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Mortgage Data

Review & Overview

Onb Bank is a smaller bank specializing in Home Purchase loans. Onb Bank has a high proportion of conventional loans. Their top markets by origination volume include: Rochester, La Crosse, Red Wing, Minneapolis, and Austin among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Onb Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

44

Origination Dollar Volume (All Markets)

$6,810,000

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
ROCHESTER, MN (FHA|USDA|VA) 33 $4,225,000 $128,030 $0 0.00%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $675,000 $675,000 $0 0.00%
Red Wing, MN (FHA|USDA|VA) 3 $555,000 $185,000 $0 0.00%
Outside of Metro Areas 2 $490,000 $245,000 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $420,000 $210,000 $0 0.00%
Austin, MN (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
Fairmont, MN (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
DULUTH, MN-WI (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
Onb Bank's top markets include Rochester, La Crosse, Red Wing, Minneapolis, and Austin among others.

Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 44 $6,810,000 $154,773 $0 0.00%

    For 2019, Onb Bank's most frequently originated type of loan was Conventional, with 44 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 22 $4,730,000 $215,000 $0 0.00%
    Home Improvement 9 $455,000 $50,556 $0 0.00%
    Cash Out Refi 6 $790,000 $131,667 $0 0.00%
    Other 5 $155,000 $31,000 $0 0.00%
    Refi 2 $680,000 $340,000 $0 0.00%

    For 2019, Onb Bank's most frequently cited loan purpose was Home Purchase, with 22 originations. The 2nd most popular reason was Home Improvement, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 44 $6,810,000 $154,773 $0 0.00%

    For 2019, Onb Bank's most frequently cited loan duration was Other, with 44 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 19 $905,000 $47,632 $0 0.00%
    $200k-400k 13 $3,365,000 $258,846 $0 0.00%
    $100k-200k 10 $1,430,000 $143,000 $0 0.00%
    $400k-600k 1 $435,000 $435,000 $0 0.00%
    $600k-1MM 1 $675,000 $675,000 $0 0.00%

    2019 saw Onb Bank place emphasis on $100,000 or less loans with 19 originations, totaling $905,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 10 $1,240,000 $124,000 $0 0.00%
    $150k-250k 8 $1,270,000 $158,750 $0 0.00%
    $50k-75k 7 $695,000 $99,286 $0 0.00%
    $250k+ 4 $1,450,000 $362,500 $0 0.00%
    $50k or less 4 $290,000 $72,500 $0 0.00%
    $75k-100k 4 $580,000 $145,000 $0 0.00%

    Onb Bank lent most frequently to those with incomes in the $100k-150k range, with 10 originations. The second most popular income band? $150k-250k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 44 $6,810,000 $154,773 $0 0.00%

    Onb Bank lent most frequently to those with DTI ratios of Exempt%, with 44 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 37 $5,525,000 $149,324 $0 0.00%
    Not applicable 7 $1,285,000 $183,571 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.11%

    Onb 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 origination
    81.82%

    Onb Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 44 $6,810,000 $154,773

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $75,000 $75,000
    Single Family (1-4 Units):Site-Built 43 $6,735,000 $156,628