Brainerd Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Brainerd averaged
6.71%
for the week of 2025-06-18, compared to the national average of
6.81% for the same period.
The average rate for the prior week (2025-06-12) was
7.14% and
one month ago for the week of 2025-05-15, the
average rate was 6.91%.
Brainerd's average rate one year ago was 6.95%.
For refis of the same type during the week of 2025-06-18, the average rate
was 6.82%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
| Brainerd 30 Year Fixed Rate | 2025-06-18 | 6.71% |
| Brainerd 30 Year Fixed Rate Refi | 2025-06-18 | 6.82% |
| Brainerd 15 Year Fixed Rate | 2025-06-18 | 5.96% |
| Brainerd 15 Year Fixed Rate Refi | 2025-06-18 | 5.96% |
| Brainerd 30 Year FHA | 2025-06-18 | 0.04% |
| Brainerd 30 Year FHA Refi | 2025-06-18 | 0.2% |
| Brainerd 30 Year USDA | 2025-06-18 | 0.2% |
| Brainerd 30 Year USDA Refi | 2025-06-18 | -0.1% |
| Brainerd 30 Year VA | 2025-06-18 | -0.09% |
| Brainerd 30 Year VA Refi | 2025-06-18 | -0.1% |
Brainerd Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Brainerd, MN market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
Brainerd Average Closing Costs & Other Stats
Brainerd, MN's 140 lenders originated 2,304
loans during 2024. The total origination value was $595,850,000, with an average loan value of
$258,615.
Brainerd's average closing costs are $4,991.
The top Brainerd lender as defined by loan originations is Flagstar Bank, FSB, with
52 loans originated. Their average total fees are
$6,043, which is $268
lower than the next largest lender,
Granite Community Bank.
The lowest fee Brainerd lenders (with over 10 loans originated) are
SPIRE Credit Union ($3,415), WINGS FINANCIAL ($4,080), Frandsen Bank & Trust ($4,624), AFFINITY PLUS ($4,816) and Merchants Bank ($4,819).
The lowest rate Brainerd lenders (with over 10 loans originated) are
PLAZA HOME MORTGAGE, INC. (6.31%), WINGS FINANCIAL (6.37%), First Western Bank & Trust (6.38%), SPIRE Credit Union (6.39%) and AFFINITY PLUS (6.47%).
Brainerd, MN Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
| Name | 2023 Loan Value | 2024 Loan Value | % Change | 2024 Market Share |
|---|---|---|---|---|
| Deerwood Bank | $35,370,000 | $30,630,000 | -13.4% | 5.1% |
| U.S. Bank | $23,865,000 | $25,810,000 | 8.2% | 4.3% |
| QUICKEN LOANS, LLC | $15,385,000 | $25,315,000 | 64.5% | 4.2% |
| Flagstar Bank, FSB | $17,900,000 | $22,020,000 | 23.0% | 3.7% |
| UNITED WHOLESALE MORTGAGE, LLC | $12,805,000 | $21,775,000 | 70.1% | 3.7% |
| RiverWood Bank | $17,065,000 | $21,715,000 | 27.2% | 3.6% |
| First Western Bank & Trust | $26,995,000 | $19,025,000 | -29.5% | 3.2% |
| Bell Bank | $15,335,000 | $18,330,000 | 19.5% | 3.1% |
| Granite Community Bank | $17,370,000 | n/a | 2.9% | |
| American National Bank of Minnesota | $11,240,000 | $15,655,000 | 39.3% | 2.6% |
| American Mortgage & Equity Consultants, Inc. | $9,700,000 | $15,580,000 | 60.6% | 2.6% |
| CROSSCOUNTRY MORTGAGE, LLC | $9,105,000 | $15,390,000 | 69.0% | 2.6% |
| Bremer Bank | $16,545,000 | $14,160,000 | -14.4% | 2.4% |
| Frandsen Bank & Trust | $14,935,000 | $13,625,000 | -8.8% | 2.3% |
| AFFINITY PLUS | $8,995,000 | $13,375,000 | 48.7% | 2.2% |
| WINGS FINANCIAL | $12,690,000 | $13,095,000 | 3.2% | 2.2% |
| Merchants Bank | $10,590,000 | $12,235,000 | 15.5% | 2.1% |
| Mortgage Research Center, LLC | $4,760,000 | $11,245,000 | 136.2% | 1.9% |
| PLAZA HOME MORTGAGE, INC. | $3,170,000 | $8,170,000 | 157.7% | 1.4% |
| Prosperity Home Mortgage, LLC | $5,035,000 | $7,915,000 | 57.2% | 1.3% |
| PENNYMAC LOAN SERVICES, LLC | $6,740,000 | $7,150,000 | 6.1% | 1.2% |
| TRUSTONE FINANCIAL FEDERAL CREDIT UNION | $6,280,000 | $7,120,000 | 13.4% | 1.2% |
| LOANDEPOT.COM, LLC | $23,925,000 | $6,665,000 | -72.1% | 1.1% |
| BROKER SOLUTIONS, INC. | $3,445,000 | $6,415,000 | 86.2% | 1.1% |
| The Huntington National Bank | $2,575,000 | $5,935,000 | 130.5% | 1.0% |
| Wells Fargo Bank | $10,010,000 | $5,245,000 | -47.6% | 0.9% |
| Alerus Financial | $1,810,000 | $5,150,000 | 184.5% | 0.9% |
| Tradition Mortgage, LLC | $5,325,000 | $5,150,000 | -3.3% | 0.9% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $8,075,000 | $4,865,000 | -39.8% | 0.8% |
| SPIRE Credit Union | $1,735,000 | $4,500,000 | 159.4% | 0.8% |
| UNION HOME MORTGAGE CORP. | $710,000 | $4,180,000 | 488.7% | 0.7% |
| ST. CLOUD FINANCIAL | $3,245,000 | $4,095,000 | 26.2% | 0.7% |
| Sterling State Bank | $1,810,000 | $3,810,000 | 110.5% | 0.6% |
| CENTRAL MINNESOTA Credit Union | $1,725,000 | $3,800,000 | 120.3% | 0.6% |
| Associated Bank | $1,895,000 | $3,770,000 | 98.9% | 0.6% |
| First Resource Bank | $3,735,000 | n/a | 0.6% | |
| EVERETT FINANCIAL, INC. | $1,595,000 | $3,680,000 | 130.7% | 0.6% |
| GUILD MORTGAGE COMPANY | $275,000 | $3,490,000 | 1,169.1% | 0.6% |
| NEWREZ LLC | $1,510,000 | $3,470,000 | 129.8% | 0.6% |
| Servion, Inc. | $4,955,000 | $3,385,000 | -31.7% | 0.6% |
| Summit Mortgage Corporation | $3,325,000 | $3,380,000 | 1.7% | 0.6% |
| Gate City Bank | $930,000 | $3,300,000 | 254.8% | 0.6% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $1,345,000 | $3,270,000 | 143.1% | 0.5% |
| First International Bank & Trust | $3,955,000 | $2,995,000 | -24.3% | 0.5% |
| JPMorgan Chase Bank | $485,000 | $2,815,000 | 480.4% | 0.5% |
| COMPEER FINANCIAL, FLCA | $2,005,000 | $2,775,000 | 38.4% | 0.5% |
| Bank Forward | $3,210,000 | $2,760,000 | -14.0% | 0.5% |
| Bank of America | $1,285,000 | $2,700,000 | 110.1% | 0.5% |
| MEGASTAR FINANCIAL CORP. | $1,085,000 | $2,615,000 | 141.0% | 0.4% |
| Plains Commerce Bank | $395,000 | $2,575,000 | 551.9% | 0.4% |
| GUARANTEED RATE, INC. | $2,290,000 | $2,550,000 | 11.4% | 0.4% |
| National Bank of Commerce | $1,540,000 | $2,510,000 | 63.0% | 0.4% |
| NAVY FEDERAL CREDIT UNION | $2,155,000 | $2,485,000 | 15.3% | 0.4% |
| Baxter Credit Union | $1,485,000 | $2,320,000 | 56.2% | 0.4% |
| MEMBERS COOPERATIVE | $2,945,000 | $2,315,000 | -21.4% | 0.4% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $235,000 | $2,250,000 | 857.4% | 0.4% |
| USAA Federal Savings Bank | $1,090,000 | $2,060,000 | 89.0% | 0.3% |
| Sherburne State Bank | $1,085,000 | $2,055,000 | 89.4% | 0.3% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $2,390,000 | $2,005,000 | -16.1% | 0.3% |
| Royal Credit Union | $1,790,000 | $2,005,000 | 12.0% | 0.3% |
| FREEDOM MORTGAGE CORPORATION | $1,430,000 | $1,915,000 | 33.9% | 0.3% |
| TOPLINE FEDERAL CREDIT UNION | $1,020,000 | $1,790,000 | 75.5% | 0.3% |
| CARDINAL FINANCIAL | $610,000 | $1,770,000 | 190.2% | 0.3% |
| Mr. Cooper ( Nationstar Mortgage ) | $2,380,000 | $1,770,000 | -25.6% | 0.3% |
| MidWestOne Bank | $1,165,000 | $1,755,000 | 50.6% | 0.3% |
| GUARANTEED RATE AFFINITY, LLC | $1,715,000 | n/a | 0.3% | |
| First Bank & Trust | $1,345,000 | $1,680,000 | 24.9% | 0.3% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $805,000 | $1,675,000 | 108.1% | 0.3% |
| Ixonia Bank | $1,600,000 | n/a | 0.3% | |
| NEW DAY FINANCIAL, LLC | $835,000 | $1,580,000 | 89.2% | 0.3% |
| Northview Bank | $1,535,000 | $1,560,000 | 1.6% | 0.3% |
| NexBank | $1,410,000 | $1,490,000 | 5.7% | 0.3% |
| First Federal Bank | $1,450,000 | n/a | 0.2% | |
| Think Mutual Bank | $2,035,000 | $1,415,000 | -30.5% | 0.2% |
| VERIDIAN CREDIT UNION | $1,725,000 | $1,365,000 | -20.9% | 0.2% |
| BMO Harris Bank | $2,725,000 | $1,360,000 | -50.1% | 0.2% |
| CORTRUST MORTGAGE, INC. | $1,035,000 | $1,295,000 | 25.1% | 0.2% |
| IDEAL | $15,000 | $1,285,000 | 8,466.7% | 0.2% |
| Peoples Bank | $1,225,000 | n/a | 0.2% | |
| Liberty Bank Minnesota | $2,085,000 | $1,210,000 | -42.0% | 0.2% |
| 21ST MORTGAGE CORPORATION | $420,000 | $1,180,000 | 181.0% | 0.2% |
| NBKC BANK | $3,940,000 | $1,165,000 | -70.4% | 0.2% |
| Old National Bank | $450,000 | $1,160,000 | 157.8% | 0.2% |
| Quad City Bank and Trust Company | $1,105,000 | n/a | 0.2% | |
| American Heritage National Bank | $1,550,000 | $1,080,000 | -30.3% | 0.2% |
| AMERISAVE MORTGAGE CORPORATION | $2,270,000 | $1,050,000 | -53.7% | 0.2% |
| MOVEMENT MORTGAGE, LLC | $1,950,000 | $1,040,000 | -46.7% | 0.2% |
| Florida Capital Bank | $2,065,000 | $1,010,000 | -51.1% | 0.2% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $255,000 | $1,010,000 | 296.1% | 0.2% |
| Earlham Savings Bank | $1,005,000 | n/a | 0.2% | |
| Platinum Bank | $1,005,000 | n/a | 0.2% | |
| HOMEOWNERS FINANCIAL GROUP USA, LLC | $305,000 | $975,000 | 219.7% | 0.2% |
| VILLAGE CAPITAL MORTGAGE | $975,000 | n/a | 0.2% | |
| MASON MCDUFFIE MORTGAGE CORPORATION | $1,030,000 | $955,000 | -7.3% | 0.2% |
| North Shore Bank of Commerce | $955,000 | n/a | 0.2% | |
| Cambria Financial Group, LLC | $165,000 | $950,000 | 475.8% | 0.2% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $385,000 | $945,000 | 145.5% | 0.2% |
| Century Mortgage Company DBA Century Lending Company | $335,000 | $945,000 | 182.1% | 0.2% |
| FINANCE OF AMERICA REVERSE LLC | $355,000 | $940,000 | 164.8% | 0.2% |
| F & M Community Bank | $940,000 | n/a | 0.2% | |
| Nations Lending Corporation | $940,000 | n/a | 0.2% | |
| IOWA BANKERS MORTGAGE CORPORATION | $930,000 | $910,000 | -2.2% | 0.2% |
| Bridgewater Bank | $1,460,000 | $900,000 | -38.4% | 0.2% |
| Minnwest Bank | $2,310,000 | $890,000 | -61.5% | 0.1% |
| CMG MORTGAGE, INC. | $1,620,000 | $880,000 | -45.7% | 0.1% |
| PNC Bank | $755,000 | $845,000 | 11.9% | 0.1% |
| Summit Credit Union | $830,000 | n/a | 0.1% | |
| South Story Bank & Trust | $820,000 | n/a | 0.1% | |
| Barrington Bank & Trust Company, N.A. | $205,000 | $815,000 | 297.6% | 0.1% |
| AMERICAN INTERNET MORTGAGE, INC. | $810,000 | n/a | 0.1% | |
| BankVista | $820,000 | $785,000 | -4.3% | 0.1% |
| Sierra Pacific Mortgage Company, Inc. | $770,000 | n/a | 0.1% | |
| Discover Bank | $1,000,000 | $765,000 | -23.5% | 0.1% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $760,000 | n/a | 0.1% | |
| AMERICAN FINANCIAL RESOURCES, INC. | $755,000 | n/a | 0.1% | |
| The Loan Store, Inc. | $745,000 | n/a | 0.1% | |
| CITY-COUNTY CREDIT UNION | $1,140,000 | $740,000 | -35.1% | 0.1% |
| Security Bank & Trust Company | $735,000 | n/a | 0.1% | |
| BAY EQUITY LLC | $605,000 | $715,000 | 18.2% | 0.1% |
| Neighborhood National Bank | $700,000 | $700,000 | 0.0% | 0.1% |
| HomeTown Bank | $420,000 | $690,000 | 64.3% | 0.1% |
| Midwest Bank | $690,000 | n/a | 0.1% | |
| SUCCESS MORTGAGE PARTNERS, INC. | $675,000 | n/a | 0.1% | |
| Alliance Bank | $660,000 | n/a | 0.1% | |
| Figure Lending LLC | $440,000 | $660,000 | 50.0% | 0.1% |
| Stifel Bank and Trust | $1,290,000 | $660,000 | -48.8% | 0.1% |
| Equity Prime Mortgage LLC | $645,000 | n/a | 0.1% | |
| Blackhawk Bank & Trust | $635,000 | n/a | 0.1% | |
| The Federal Savings Bank | $680,000 | $630,000 | -7.4% | 0.1% |
| ROUNDPOINT MORTGAGE SERVICING CORPORATION | $625,000 | n/a | 0.1% | |
| ROYAL UNITED MORTGAGE LLC | $235,000 | $615,000 | 161.7% | 0.1% |
| THRIVENT Federal Credit Union | $900,000 | $605,000 | -32.8% | 0.1% |
| BNY Mellon | $2,360,000 | $595,000 | -74.8% | 0.1% |
| AgCountry Farm Credit Services, FLCA | $575,000 | n/a | 0.1% | |
| SWBC MORTGAGE CORPORATION | $105,000 | $570,000 | 442.9% | 0.1% |
| The State Bank of Faribault | $245,000 | $565,000 | 130.6% | 0.1% |
| SHAREPOINT CREDIT UNION | $680,000 | $560,000 | -17.6% | 0.1% |
| Morgan Stanley Private Bank | $1,945,000 | $550,000 | -71.7% | 0.1% |
| The First National Bank of Le Center | $530,000 | n/a | 0.1% | |
| PREMIER MORTGAGE RESOURCES, L.L.C. | $420,000 | $515,000 | 22.6% | 0.1% |
| MY Credit Union | $510,000 | n/a | 0.1% | |
| Choice Financial Group | $1,560,000 | $505,000 | -67.6% | 0.1% |
| North American Banking Company | $865,000 | $505,000 | -41.6% | 0.1% |
| AmeriHome Mortgage Company, LLC | $465,000 | n/a | 0.1% | |
| MinnStar Bank N.A. | $465,000 | n/a | 0.1% | |
| Connexus Credit Union | $140,000 | $455,000 | 225.0% | 0.1% |
| LENOX FINANCIAL MORTGAGE CORPORATION | $455,000 | n/a | 0.1% | |
| Northpointe Bank | $305,000 | $455,000 | 49.2% | 0.1% |
| OAKTREE FUNDING CORP. | $455,000 | n/a | 0.1% | |
| Waterstone Mortgage Corporation | $375,000 | $455,000 | 21.3% | 0.1% |
| NATIONS DIRECT MORTGAGE, LLC | $415,000 | n/a | 0.1% | |
| Security State Bank of Marine | $405,000 | n/a | 0.1% | |
| GENISYS | $400,000 | n/a | 0.1% | |
| Northwest Bank | $395,000 | n/a | 0.1% | |
| PURDUE FEDERAL CREDIT UNION | $395,000 | n/a | 0.1% | |
| UBS Bank USA | $2,970,000 | $395,000 | -86.7% | 0.1% |
| Goldwater Bank, N.A. | $3,130,000 | $390,000 | -87.5% | 0.1% |
| ALAMEDA MORTGAGE CORPORATION | $385,000 | n/a | 0.1% | |
| PREMIA MORTGAGE, LLC | $385,000 | n/a | 0.1% | |
| FIRST TECHNOLOGY | $380,000 | n/a | 0.1% | |
| Castle Rock Bank | $285,000 | $375,000 | 31.6% | 0.1% |
| MILEND, INC. | $280,000 | $360,000 | 28.6% | 0.1% |
| ALLIANT CREDIT UNION | $355,000 | n/a | 0.1% | |
| CHEVRON | $355,000 | n/a | 0.1% | |
| FIRST COLONY MORTGAGE CORPORATION | $355,000 | n/a | 0.1% | |
| Western State Bank | $355,000 | n/a | 0.1% | |
| CHURCHILL MORTGAGE CORPORATION | $335,000 | n/a | 0.1% | |
| GSF Mortgage Corporation | $335,000 | n/a | 0.1% | |
| PENTAGON FEDERAL CREDIT UNION | $65,000 | $330,000 | 407.7% | 0.1% |
| Third Federal Savings and Loan Association of Cleveland | $330,000 | $330,000 | 0.0% | 0.1% |
| Ally Bank | $315,000 | n/a | 0.1% | |
| LAKEVIEW LOAN SERVICING, LLC | $310,000 | $305,000 | -1.6% | 0.1% |
| University Bank | $305,000 | n/a | 0.1% | |
| AMERICAN PORTFOLIO MORTGAGE CORPORATION | $345,000 | $295,000 | -14.5% | 0.0% |
| Commerce Home Mortgage, Inc. | $295,000 | n/a | 0.0% | |
| St. Paul Federal Credit Union | $790,000 | $285,000 | -63.9% | 0.0% |
| Lake Elmo Bank | $245,000 | $275,000 | 12.2% | 0.0% |
| PACIFIC RESIDENTIAL MORTGAGE, LLC | $265,000 | n/a | 0.0% | |
| CITIZENS EQUITY FIRST | $255,000 | n/a | 0.0% | |
| Raymond James Bank | $625,000 | $255,000 | -59.2% | 0.0% |
| Stride Bank | $255,000 | n/a | 0.0% | |
| TOWNE MORTGAGE COMPANY | $255,000 | n/a | 0.0% | |
| Highland Bank | $65,000 | $230,000 | 253.8% | 0.0% |
| Citizens Alliance Bank | $235,000 | $225,000 | -4.3% | 0.0% |
| LADERA LENDING, INC. | $225,000 | n/a | 0.0% | |
| CITY FIRST MORTGAGE SERVICES, L.L.C. | $215,000 | n/a | 0.0% | |
| S1L, Inc. | $215,000 | n/a | 0.0% | |
| Star Bank | $215,000 | n/a | 0.0% | |
| TOWN AND COUNTRY Credit Union | $830,000 | $215,000 | -74.1% | 0.0% |
| Armed Forces Bank | $2,115,000 | $205,000 | -90.3% | 0.0% |
| Citizens Bank | $140,000 | $205,000 | 46.4% | 0.0% |
| Citizens Community Federal | $195,000 | n/a | 0.0% | |
| ALLIED MORTGAGE GROUP, INC. | $185,000 | n/a | 0.0% | |
| AMERICAN FINANCING CORPORATION | $55,000 | $185,000 | 236.4% | 0.0% |
| American National Bank | $305,000 | $185,000 | -39.3% | 0.0% |
| AXIA FINANCIAL, LLC | $235,000 | $185,000 | -21.3% | 0.0% |
| Elements Financial Federal Credit Union | $185,000 | n/a | 0.0% | |
| NEXERA HOLDING LLC | $185,000 | n/a | 0.0% | |
| TOP FLITE FINANCIAL, INC. | $215,000 | $185,000 | -14.0% | 0.0% |
| Minnesota Valley Federal Credit Union | $175,000 | n/a | 0.0% | |
| OCMBC, INC. | $175,000 | n/a | 0.0% | |
| PHH Mortgage Corporation | $175,000 | n/a | 0.0% | |
| Heritage Bank | $375,000 | $155,000 | -58.7% | 0.0% |
| North Shore Federal Credit Union | $155,000 | n/a | 0.0% | |
| Paramount Bank | $620,000 | $155,000 | -75.0% | 0.0% |
| First National Bank of America | $145,000 | n/a | 0.0% | |
| Unity Bank | $750,000 | $135,000 | -82.0% | 0.0% |
| WNB Financial, N.A. | $135,000 | n/a | 0.0% | |
| CorTrust Bank | $265,000 | $130,000 | -50.9% | 0.0% |
| LOANPAL, LLC | $130,000 | n/a | 0.0% | |
| Falcon National Bank | $1,095,000 | $125,000 | -88.6% | 0.0% |
| LONGBRIDGE FINANCIAL, LLC | $125,000 | n/a | 0.0% | |
| V.I.P. MORTGAGE, INC. | $485,000 | $125,000 | -74.2% | 0.0% |
| RAILWAY CREDIT UNION | $115,000 | n/a | 0.0% | |
| The Central Trust Bank | $115,000 | n/a | 0.0% | |
| American Bank Center | $315,000 | $105,000 | -66.7% | 0.0% |
| Anoka Hennepin Credit Union | $55,000 | $105,000 | 90.9% | 0.0% |
| ASHLAND Credit Union | $75,000 | $105,000 | 40.0% | 0.0% |
| First Alliance Credit Union | $105,000 | n/a | 0.0% | |
| Great Southern Bank | $495,000 | $105,000 | -78.8% | 0.0% |
| First Dakota National Bank | $770,000 | $85,000 | -89.0% | 0.0% |
| Coastal Community Bank | $85,000 | $75,000 | -11.8% | 0.0% |
| Deere Employees Credit Union | $995,000 | $75,000 | -92.5% | 0.0% |
| TEACHERS | $75,000 | n/a | 0.0% | |
| WESTconsin Credit Union | $65,000 | n/a | 0.0% | |
| BANKWEST, INC. | $55,000 | n/a | 0.0% | |
| SPRING EQ, LLC | $85,000 | $55,000 | -35.3% | 0.0% |
| Honor Credit Union | $45,000 | n/a | 0.0% | |
| Carrington Mortgage Services, LLC | $375,000 | $35,000 | -90.7% | 0.0% |
| Union State Bank of Fargo | $35,000 | n/a | 0.0% | |
| MINNCO CREDIT UNION | $200,000 | $25,000 | -87.5% | 0.0% |
Brainerd's top lender by overall market share is Deerwood Bank, with 5.1% market share. In second place, with 4.3%, is U.S. Bank, having originated $25,810,000 in loans. In third place, with 4.2%, is QUICKEN LOANS, LLC, having originated $25,315,000 in loans. In fourth place, with 3.7%, is Flagstar Bank, FSB, having originated $22,020,000 in loans. In fifth place, with 3.7%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $21,775,000 in loans.
Brainerd, MN Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 1,296 | $398,100,000 | $307,176 |
| Refi | 279 | $80,735,000 | $289,373 |
| Home Improvement | 252 | $27,210,000 | $107,976 |
| Cash Out Refi | 247 | $57,715,000 | $233,664 |
| Other | 230 | $32,090,000 | $139,522 |
Brainerd's most frequently cited loan purpose was Home Purchase, with 1,296 originations. The 2nd most popular reason was Refi, with 279 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 850 | $248,030,000 | $291,800 |
| 7-8% | 506 | $141,170,000 | $278,992 |
| Over 8% | 404 | $52,240,000 | $129,307 |
| 5-6% | 247 | $77,375,000 | $313,259 |
| <2.5% | 39 | $605,000 | $15,513 |
| 4-5% | 18 | $4,170,000 | $231,667 |
| 3-4% | 4 | $680,000 | $170,000 |
| 2.5-3% | 1 | $205,000 | $205,000 |
During 2024, Brainerd's most frequently originated rate bucket was 6-7%, with 850 originations.
Loan Sizing (Brainerd, MN MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 822 | $234,370,000 | $285,122 |
| $100k-200k | 537 | $80,865,000 | $150,587 |
| $100,000 or less | 532 | $27,490,000 | $51,673 |
| $400k-600k | 270 | $127,680,000 | $472,889 |
| $600k-1000k | 112 | $80,830,000 | $721,696 |
| $Over $1MM | 31 | $44,615,000 | $1,439,194 |
Brainerd's loan sizing saw the bucket of loans from $200k-400k with 822 originations, totaling $234,370,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 639 | $208,035,000 | $325,563 |
| 60-80% | 465 | $158,005,000 | $339,796 |
| Under 20% | 364 | $21,370,000 | $58,709 |
| 20-40% | 321 | $54,625,000 | $170,171 |
| 40-60% | 256 | $73,340,000 | $286,484 |
| Over 100% | 12 | $4,880,000 | $406,667 |
Brainerd's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 639 originations, totaling $208,035,000 in origination value.