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GRANITE BANK
Bank|Cold Spring, MN|Near-National
Loans Originated
839
Applications
1,092
Volume
$258 million
Offers loans directly to consumers
Overall Pricing
Acceptable
Overall Pull Through
Strong
Safe Rate Awards⭐FHA Superstar⭐VA Superstar
Pricing and Pullthrough Overview
Average Rate Spread
+0.245%
The average of the lender's APR minus the market's average APR (APOR)
Average Net Fees
$2,931
Borrower paid Origination Charges - Lender Credits
Pullthrough Rate
76.8%
Percentage of applications that result in closed loans
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
Report Card
GRANITE BANK performance at a glance
| Category | Rating | Grade | Details |
|---|---|---|---|
Pricing Rate competitiveness | Acceptable | Near industry average | |
Pull Through Closing Strength | Strong | Highly Competitive | |
Products Loan Type Specialists | Specialization score by loan product | ||
Conventional | Strong | Highly Competitive | |
FHA | Strong | Highly Competitive | |
VA | Strong | Highly Competitive | |
Purpose Reason specialization | Specialization score by loan purpose | ||
Purchase | Strong | Highly Competitive | |
Refinance | Sound | Industry Standard | |
Places Geographic coverage | Sound | Near-National · 11 metro areas · 25 states |
Rating Scale:
Exceptional (80-100)
Strong (60-79)
Sound (40-59)
Acceptable (20-39)
Mediocre (0-19)
Typical Borrower Profile
Average Loan Amount
$307,777
Average Borrower Income
$124,454
Average Property Value
$385,203
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% | $2,946 |
FHA Loans | Strong | Strong | Sound | Strong | 145 | 17.3% | +0.285% | $3,126 |
VA Loans | Strong | Strong | Sound | Strong | 71 | 8.5% | -0.417% | $2,389 |
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | Sound | Strong | Acceptable | Strong | 784 | 93.4% | +0.250% | $2,956 |
Refinance | Sound | Sound | Sound | Sound | 55 | 6.6% | +0.178% | $2,648 |
Geographic Coverage
Metro Areas
10
States Served
25
We count Washington DC as a state
Avg Place Specialization
Sound
States with Loan Originations
ALAZCACOFLGAIDILINKSKYMIMNMONDNENMSCSDTNTXUTVTWIWY
Top Metro Areas by Place Specialization Score
1
Rapid City, SD, SDMSA
Volume: 102Mix: 12.16%
Place Specialization
Exceptional
2
Minneapolis, MN-WIMSA
Volume: 318Mix: 37.90%
Place Specialization
Strong
3
La Crosse, WI-MNMSA
Volume: 21Mix: 2.50%
Place Specialization
Sound
4
St. Cloud, MN, MNMSA
Volume: 18Mix: 2.15%
Place Specialization
Sound
5
Huntsville, AL, ALMSA
Volume: 20Mix: 2.38%
Place Specialization
Sound
6
Punta Gorda, FL, FLMSA
Volume: 14Mix: 1.67%
Place Specialization
Sound
7
Duluth, MN, MN-WIMSA
Volume: 17Mix: 2.03%
Place Specialization
Sound
8
North Port, FLMSA
Volume: 13Mix: 1.55%
Place Specialization
Sound
9
Colorado Springs, CO, COMSA
Volume: 10Mix: 1.19%
Place Specialization
Sound
10
Chicago, ILMSA
Volume: 11Mix: 1.31%
Place Specialization
Acceptable
Top States by Place Specialization Score
1
MNState
Volume: 495Mix: 59.00%
Place Specialization
Exceptional
2
SDState
Volume: 137Mix: 16.33%
Place Specialization
Strong
3
WIState
Volume: 46Mix: 5.48%
Place Specialization
Sound
4
FLState
Volume: 60Mix: 7.15%
Place Specialization
Sound
5
ALState
Volume: 25Mix: 2.98%
Place Specialization
Sound
6
COState
Volume: 16Mix: 1.91%
Place Specialization
Sound
7
ILState
Volume: 17Mix: 2.03%
Place Specialization
Sound
8
TXState
Volume: 13Mix: 1.55%
Place Specialization
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)
10
Pricing
Rate and fee competitiveness (33%)
10
Pull Through
Reliability in closing loans (33%)
10
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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