# North Shore Bank of Commerce

> **Canonical URL:** https://saferate.com/lenders/north-shore-bank-of-commerce


> **📋 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


North Shore Bank of Commerce is a bank, headquartered in Duluth, MN, serving borrowers across 6 states, with 522 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 74% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 21% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** 549300TWX5Q3V5VXNF89
- **Headquarters:** Duluth, MN
- **Geographic Reach:** Multi-Region
- **States Served:** 6
- **State List:** FL, ME, MN, ND, TX, WI
- **Markets (MSAs):** 2
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Acceptable 🙂
- Score: 26/100
- Rating: ●●○○○ (2/5)

### Pull Through: Strong 😀
- Score: 79/100
- Rating: ●●●●○ (4/5)

### Pricing Details
- **Average Rate Spread:** +0.202%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $3,399
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 522
- **Dollar Volume:** $154 million
- **Applications Received:** 583
- **Market Share:** 1.00%

## Typical Borrower Profile

- **Average Loan Amount:** $294,751
- **Average Borrower Income:** $138,027
- **Average Property Value:** $372,370

## Safe Rate Awards 🏆

- ⭐ **Conventional Gold Superstar** (63%)
- ⭐ **Purchase Gold Superstar** (63%)
- ⭐ **Refinance Gold Superstar** (63%)

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 74/100 | 475 | +0.203% | $3,404 | Strong 😀 |
| FHA | 59/100 | 16 | +0.843% | $2,362 | Sound ☺️ |
| VA | 66/100 | 19 | -0.309% | $1,656 | Strong 😀 |
| Jumbo | 68/100 | 12 | +0.327% | $8,305 | Strong 😀 |

### Product Performance by Purpose

**Conventional:**
- Purchase: 431 loans, Score: 75/100 (Strong)
- Refinance: 44 loans, Score: 61/100 (Strong)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 74/100 | 476 | $142M | +0.200% | Strong 😀 |
| Refinance | 61/100 | 46 | $12M | +0.221% | Strong 😀 |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| MN | 477 | 0.74% | 83/100 |
| WI | 40 | 0.06% | 55/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Duluth, MN | MN-WI | 443 | 100/100 |
| Non |  | 70 | 48/100 |

## Where This Lender Ranks

North Shore Bank of Commerce appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🥇 **#1** in Duluth, MN for Jumbo Loans
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/jumbo-loans)
- 🥇 **#1** in Duluth, MN for Jumbo Loans (Banks)
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/banks/jumbo-loans)
- 🥈 **#2** in Duluth, MN for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/banks/va-loans)
- 🥉 **#3** in Duluth, MN for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/banks/fha-loans)
- 🏆 **#4** in Duluth, MN Banks
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/banks)
- 🏆 **#4** in Duluth, MN for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#5** in Duluth, MN for Conventional Loans
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/conventional-loans)
- 🏆 **#5** in Duluth, MN for VA Loans
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/va-loans)
- 🏆 **#6** in Duluth, MN
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders)
- 🏆 **#10** in Duluth, MN for FHA Loans
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/fha-loans)
- 🏆 **#12** in Minnesota for Jumbo Loans (Banks)
  - [View Full Rankings](https://saferate.com/minnesota/best-mortgage-lenders/banks/jumbo-loans)
- 🏆 **#14** in Minnesota for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/minnesota/best-mortgage-lenders/banks/va-loans)
- 🏆 **#16** in Minnesota for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/minnesota/best-mortgage-lenders/banks/fha-loans)
- 🏆 **#17** in Minnesota for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/minnesota/best-mortgage-lenders/banks/conventional-loans)

## Frequently Asked Questions

### What loan types does North Shore Bank of Commerce offer?

North Shore Bank of Commerce offers the following mortgage loan types: FHA, Conventional, VA, Jumbo. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does North Shore Bank of Commerce offer mortgages?

North Shore Bank of Commerce offers mortgages in 6 states: FL, ME, MN, ND, TX, WI.

### How competitive are North Shore Bank of Commerce's mortgage rates?

North Shore Bank of Commerce has a pricing score of 26/100 (Acceptable), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.202% above market average.

### What type of lender is North Shore Bank of Commerce?

North Shore Bank of Commerce is a federally or state-chartered bank that offers mortgage lending as part of its broader banking services, headquartered in Duluth, MN.

### What is North Shore Bank of Commerce's loan approval success rate?

North Shore Bank of Commerce has a pull-through score of 79/100 (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/north-shore-bank-of-commerce

### How to Cite

> "North Shore Bank of Commerce Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/north-shore-bank-of-commerce

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