# Deerwood Bank

> **Canonical URL:** https://saferate.com/lenders/deerwood-bank


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


Deerwood Bank is a bank, headquartered in Waite Park, MN, serving borrowers across 4 states, with 256 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 48% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 40% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** 549300ZBB5XXXOWVNS92
- **Headquarters:** Waite Park, MN
- **Geographic Reach:** Regional
- **States Served:** 4
- **State List:** CT, FL, MN, WI
- **Markets (MSAs):** 3
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Sound ☺️
- Score: 52/100
- Rating: ●●●○○ (3/5)

### Pull Through: Strong 😀
- Score: 60/100
- Rating: ●●●●○ (4/5)

### Pricing Details
- **Average Rate Spread:** -0.022%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $2,658
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 256
- **Dollar Volume:** $83 million
- **Applications Received:** 308
- **Market Share:** 1.00%

## Typical Borrower Profile

- **Average Loan Amount:** $325,391
- **Average Borrower Income:** $169,652
- **Average Property Value:** $475,781

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 56/100 | 253 | -0.022% | $2,658 | Sound ☺️ |

### Product Performance by Purpose

**Conventional:**
- Purchase: 232 loans, Score: 58/100 (Sound)
- Refinance: 21 loans, Score: 34/100 (Acceptable)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 56/100 | 235 | $79M | +0.024% | Sound ☺️ |
| Refinance | 32/100 | 21 | $4M | -0.424% | Acceptable 🙂 |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| MN | 247 | 0.38% | 77/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Non |  | 141 | 63/100 |
| Minneapolis | MN-WI | 77 | 65/100 |
| St. Cloud, MN | MN | 32 | 65/100 |

## Where This Lender Ranks

Deerwood Bank appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🏆 **#4** in St. Cloud, MN Banks
  - [View Full Rankings](https://saferate.com/st-cloud-mn/best-mortgage-lenders/banks)
- 🏆 **#8** in St. Cloud, MN for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/st-cloud-mn/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#9** in St. Cloud, MN
  - [View Full Rankings](https://saferate.com/st-cloud-mn/best-mortgage-lenders)
- 🏆 **#17** in Minnesota Banks
  - [View Full Rankings](https://saferate.com/minnesota/best-mortgage-lenders/banks)

## Frequently Asked Questions

### What loan types does Deerwood Bank offer?

Deerwood Bank offers the following mortgage loan types: Conventional. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does Deerwood Bank offer mortgages?

Deerwood Bank offers mortgages in 4 states: CT, FL, MN, WI.

### How competitive are Deerwood Bank's mortgage rates?

Deerwood Bank has a pricing score of 52/100 (Sound), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.022% below market average.

### What type of lender is Deerwood Bank?

Deerwood Bank is a federally or state-chartered bank that offers mortgage lending as part of its broader banking services, headquartered in Waite Park, MN.

### What is Deerwood Bank's loan approval success rate?

Deerwood Bank has a pull-through score of 60/100 (Strong). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/deerwood-bank

### How to Cite

> "Deerwood Bank Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/deerwood-bank

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