What loan types does GRANITE BANK offer?

GRANITE BANK offers the following mortgage loan types: FHA, Conventional, VA. Each product has its own pricing score and performance metrics.

Where does GRANITE BANK offer mortgages?

GRANITE BANK offers mortgages in 25 states: AL, AZ, CA, CO, FL, GA, ID, IL, IN, KS, KY, MI, MN, MO, ND, NE, NM, SC, SD, TN, TX, UT, VT, WI, WY.

How competitive are GRANITE BANK's mortgage rates?

GRANITE BANK has an overall pricing score of 36.5/100, based on analysis of their loan data including average spread and fees compared to market benchmarks.

What type of lender is GRANITE BANK?

GRANITE BANK is a Bank headquartered in Cold Spring, MN.

Unclaimed

Granite Bank

Bank•Cold Spring, MN•Direct to Consumer

We analyzed every closed loan from Granite Bank — 839 loans across 1k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.

Pricing

Acceptable

vs. all lenders

Pull Through

Strong

closing strength

Products

Strong

FHA · Conventional · VA

Place

Sound

Near-National · 10 mkts

Safe Rate Awards⭐FHA Superstar⭐VA Superstar

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Safe Rate's Summary

What They Do Well

Strong pull through performance
Particularly strong in Conventional and FHA and VA loans
Nationwide availability with consistent service

Things to Think About

Pricing may be below industry average

Explore another lender or local market

Report Card

Granite Bank performance at a glance

Category	Score	vs. Peers
Overall Performance· Pricing & closing strength
Pricing Rate competitiveness	Acceptable	Near industry average +24.5 bps above market avg
Pull Through Closing strength	Strong	Highly Competitive Top 40% of lenders
By Loan Product· Specialization by type
Conventional	Strong	Highly Competitive Top 40% of lenders
FHA	Strong	Highly Competitive Top 40% of lenders
VA	Strong	Highly Competitive Top 40% of lenders
By Loan Purpose· Transaction purpose mix
Purchase	Strong	Highly Competitive Top 40% of lenders
Refinance	Sound	Industry Standard Top 60% of lenders
By Location· Geographic coverage
Geographic Reach Coverage footprint	Sound	Industry Standard Top 60% of lenders Near-National11 markets

Loan Product Performance

Performance by Loan Product

Loan Type	Overall	Product	Pricing	Pull Through	Volume	Mix	Spread	Fees
Conventional	Sound	Strong	Acceptable	Strong	614	73.2%	+0.294%Above	$2,946Fees
FHA Loans	Strong	Strong	Sound	Strong	145	17.3%	+0.285%Above	$3,126Fees
VA Loans	Strong	Strong	Sound	Strong	71	8.5%	-0.417%Below	$2,389Fees

Loan Purpose Performance

Performance by Loan Purpose

Purpose	Overall	Product	Pricing	Pull Through	Volume	Mix	Spread	Fees
Purchase	Sound	Strong	Acceptable	Strong	784	93.4%	+0.250%Above	$2,956Fees
Refinance	Sound	Sound	Sound	Sound	55	6.6%	+0.178%Above	$2,648Fees

At a Glance

Lender Overview

Lending Activity

Loans Originated

839

Applications

1,092

Volume

$258 million

Pricing & Closing

Avg Rate Spread

+0.245%

vs. market APOR

Avg Net Fees

$2,931

Origination − Credits

Pullthrough Rate

76.8%

Applications → Closed

Typical Borrower

Avg Loan Amount

$307,777

Avg Borrower Income

$124,454

Avg Property Value

$385,203

Geographic Coverage

Geographic Performance

Metro Areas

States Served

We count Washington DC as a state

Avg Place Specialization

Sound

States with Loan Originations

ALAZCACOFLGAIDILINKSKYMIMNMONDNENMSCSDTNTXUTVTWIWY

Top Metro Areas by Place Specialization Score

Rapid City, SD, SDMSA

Volume: 102Mix: 12.16%of portfolio

Place

Exceptional

Minneapolis, MN-WIMSA

Volume: 318Mix: 37.90%of portfolio

Place

Strong

La Crosse, WI-MNMSA

Volume: 21Mix: 2.50%of portfolio

Place

Sound

St. Cloud, MN, MNMSA

Volume: 18Mix: 2.15%of portfolio

Place

Sound

Huntsville, AL, ALMSA

Volume: 20Mix: 2.38%of portfolio

Place

Sound

Punta Gorda, FL, FLMSA

Volume: 14Mix: 1.67%of portfolio

Place

Sound

Duluth, MN, MN-WIMSA

Volume: 17Mix: 2.03%of portfolio

Place

Sound

North Port, FLMSA

Volume: 13Mix: 1.55%of portfolio

Place

Sound

Colorado Springs, CO, COMSA

Volume: 10Mix: 1.19%of portfolio

Place

Sound

Chicago, ILMSA

Volume: 11Mix: 1.31%of portfolio

Place

Acceptable

Top States by Place Specialization Score

MNState

Volume: 495Mix: 59.00%of portfolio

Place

Exceptional

SDState

Volume: 137Mix: 16.33%of portfolio

Place

Strong

WIState

Volume: 46Mix: 5.48%of portfolio

Place

Sound

FLState

Volume: 60Mix: 7.15%of portfolio

Place

Sound

ALState

Volume: 25Mix: 2.98%of portfolio

Place

Sound

COState

Volume: 16Mix: 1.91%of portfolio

Place

Sound

ILState

Volume: 17Mix: 2.03%of portfolio

Place

Sound

TXState

Volume: 13Mix: 1.55%of portfolio

Place

Acceptable

How We Rank Lenders

Our rankings use geometric mean scoring across equally-weighted categories. This rewards lenders who perform consistently well across all metrics, not just excel in one area.

Our Point System (Max 30 Points)

Pricing

Rate and fee competitiveness (33%)

Pull Through

Reliability in closing loans (33%)

Product

Specialization in the loan type (33%)

💎

Champion(80%+ = 24-30 points)

⭐

Superstar(60-79% = 18-23 points)

Data Integrity & Updates

Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.

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The 4 PsRankings are calculated based on observed lender differences on closed loans across Pricing, Pull-through, Product, and Place.

No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.

HMDA 2024Built using publicly available originated loan data from the federal government.

Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.