The First National Bank Of River Falls Mortgage Rates, Fees & Info

River Falls, WI

LEI: VUAW1MW1BHNL595RH698

Tax ID: 39-0280840

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Mortgage Data

Review & Overview

The First National Bank Of River Falls is a smaller bank specializing in Home Purchase loans. The First National Bank Of River Falls has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Minneapolis, Red Wing, Eau Claire, and Menomonie among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

The First National Bank Of River Falls 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

57

Origination Dollar Volume (All Markets)

$15,965,000

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
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 51 $14,675,000 $287,745 $0 0.00%
Outside of Metro Areas 3 $855,000 $285,000 $0 0.00%
Red Wing, MN (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
EAU CLAIRE, WI (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
Menomonie, WI (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
The First National Bank Of River Falls's top markets include Minneapolis, Red Wing, Eau Claire, and Menomonie among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 55 $15,485,000 $281,545 $0 0.00%
    USDA 2 $480,000 $240,000 $0 0.00%

    For 2023, The First National Bank Of River Falls's most frequently originated type of loan was Conventional, with 55 originations. Their 2nd most popular type was USDA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 42 $13,290,000 $316,429 $0 0.00%
    Refi 5 $1,085,000 $217,000 $0 0.00%
    Home Improvement 4 $260,000 $65,000 $0 0.00%
    Other 3 $285,000 $95,000 $0 0.00%
    Cash Out Refi 3 $1,045,000 $348,333 $0 0.00%

    For 2023, The First National Bank Of River Falls's most frequently cited loan purpose was Home Purchase, with 42 originations. The 2nd most popular reason was Refi, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 57 $15,965,000 $280,088 $0 0.00%

    For 2023, The First National Bank Of River Falls's most frequently cited loan duration was Other, with 57 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 28 $7,670,000 $273,929 $0 0.00%
    $100,000 or less 11 $615,000 $55,909 $0 0.00%
    $100k-200k 11 $1,775,000 $161,364 $0 0.00%
    $400k-600k 4 $1,900,000 $475,000 $0 0.00%
    $600k-1MM 2 $1,250,000 $625,000 $0 0.00%
    $1MM+ 1 $2,755,000 $2,755,000 $0 0.00%

    2023 saw The First National Bank Of River Falls place emphasis on $200k-400k loans with 28 originations, totaling $7,670,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 9 $1,845,000 $205,000 $0 0.00%
    $50k-75k 9 $1,735,000 $192,778 $0 0.00%
    $250k+ 6 $2,830,000 $471,667 $0 0.00%
    $50k or less 6 $620,000 $103,333 $0 0.00%
    $75k-100k 6 $1,720,000 $286,667 $0 0.00%
    $150k-250k 3 $725,000 $241,667 $0 0.00%

    The First National Bank Of River Falls lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $50k-75k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 57 $15,965,000 $280,088 $0 0.00%

    The First National Bank Of River Falls lent most frequently to those with DTI ratios of Exempt%, with 57 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 40 $9,670,000 $241,750 $0 0.00%
    Not applicable 13 $5,405,000 $415,769 $0 0.00%
    Not provided 4 $890,000 $222,500 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.78%

    The First National Bank Of River Falls has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.46%

    The First National Bank Of River Falls has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 57 $15,965,000 $280,088

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    57 $15,965,000 $280,088