Alerus Financial, National Association closing costs and rates (2024)
In 2024, Alerus Financial, National Association originated 1,094 purchase mortgages at a median interest rate of 6.88% and median total closing costs of $3,865. That ranks #351 nationally by origination volume. For total closing costs among lenders with 500+ originations, Alerus Financial, National Association ranks #107. That is $2,876 below the national median of $6,741. Alerus Financial, National Association is most active in Minnesota with 846 originations there.
Purchase Originations
1,094
Ranked #351 nationally
Median Total Costs
$3,865
−42.7% vs national ($6,741)
Median Rate
6.875%
+3.9% vs national (6.620%)
Median Origination
$1,290
Median Lender Credits
$1,000
Cost Rank (500+ vol.)
#107
among lenders with 500+ originations
Breakdown by loan type
| Loan type | Volume | Median Rate | Median Total Costs | Median Origination |
|---|---|---|---|---|
| conventional | 1,008 | 6.875% | $3,722 | $1,290 |
| fha | 60 | 6.688% | $7,576 | $1,290 |
Active states
| State | Volume | Median Rate | Median Total Costs | State Rank |
|---|---|---|---|---|
| Minnesota | 846 | 6.875% | $3,995 | #12 |
| Wisconsin | 72 | 6.875% | $3,521 | #116 |
| North Dakota | 61 | 6.400% | $2,903 | #25 |
| Iowa | 39 | 6.500% | $2,629 | — |
| Arizona | 30 | 7.000% | $4,540 | — |
| Florida | 11 | 6.625% | $6,011 | — |
| Colorado | 4 | 7.312% | $1,884 | — |
| Pennsylvania | 4 | 6.688% | $5,244 | — |
| Texas | 4 | 6.938% | $4,715 | — |
| North Carolina | 3 | 7.125% | $3,380 | — |
| Washington | 3 | 6.375% | $3,458 | — |
| Massachusetts | 2 | 6.312% | $4,421 | — |
| New York | 2 | 6.688% | $5,865 | — |
| South Carolina | 2 | 6.750% | $3,502 | — |
| South Dakota | 2 | 6.812% | $3,290 | — |
| California | 1 | 6.250% | $19,587 | — |
| Georgia | 1 | 6.625% | $0 | — |
| Illinois | 1 | 7.375% | $7,035 | — |
| Maryland | 1 | 7.125% | $0 | — |
| Michigan | 1 | 7.000% | $2,876 | — |
| Ohio | 1 | 6.125% | $7,205 | — |
| Oklahoma | 1 | 7.125% | $0 | — |
| Oregon | 1 | 7.000% | $3,112 | — |
| Tennessee | 1 | 5.875% | $2,039 | — |
Top counties by origination volume
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $483 | 7.125% | — | 9 | −$3,382 | |
| 2 | $2,621 | 6.438% | — | 20 | −$1,244 | |
| 3 | $2,871 | 6.375% | — | 22 | −$994 | |
| 4 | $3,074 | 6.438% | — | 28 | −$791 | |
| 5 | $3,601 | 6.875% | — | 13 | −$264 | |
| 6 | $3,672 | 6.875% | — | 255 | −$193 | |
| 7 | $3,721 | 6.938% | — | 18 | −$144 | |
| 8 | $3,795 | 6.750% | — | 15 | −$70 | |
| 9 | $3,844 | 7.000% | — | 70 | −$21 | |
| 10 | $3,867 | 6.875% | — | 104 | +$2 | |
| 11 | $3,911 | 6.938% | — | 32 | +$46 | |
| 12 | $3,944 | 6.625% | — | 11 | +$79 | |
| 13 | $3,972 | 6.875% | — | 16 | +$107 | |
| 14 | $4,290 | 7.000% | — | 32 | +$425 | |
| 15 | $4,422 | 7.000% | — | 50 | +$557 | |
| 16 | $4,540 | 7.000% | — | 26 | +$675 | |
| 17 | $4,622 | 6.500% | — | 29 | +$757 | |
| 18 | $4,812 | 6.500% | — | 14 | +$947 | |
| 19 | $5,166 | 6.625% | — | 105 | +$1,301 | |
| 20 | $5,679 | 7.000% | — | 14 | +$1,814 |
Includes lenders with 1+ purchase originations in top counties. Source: HMDA 2024. Sorted by median total loan costs.
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Data source: HMDA Modified Loan Application Register 2024, published by the Consumer Financial Protection Bureau (CFPB).
Statistics reflect originated first-lien purchase mortgages on owner-occupied principal residences. Medians exclude loans with exempt or unreported fee disclosures. Learn more at ffiec.cfpb.gov.