Top Waterville, MN FHA Mortgage Lenders

RankWaterville FHA Mortgage LenderWaterville FHA Home Loans ProcessedWaterville FHA Home Loans ApprovedWaterville FHA Home Loans DeniedWaterville FHA Mortgage Median Loan to Income Ratio (LTR) for Approved LoansWaterville Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 268 54%17%
  • 237%
  • (145,000 Loan / $61,000 Income)
  • 274%
  • (140,000 Loan / $51,000 Income)
2Cornerstone Mortgage Company 64 90%1%
  • 268%
  • (86,000 / $32,000)
  • 332%
  • (133,000 / $40,000)
3Bank Of America 60 85%8%
  • 363%
  • (149,000 / $41,000)
  • 277%
  • (244,000 / $88,000)
4Embrace Home Loans, 57 8%52%
  • 210%
  • (137,000 / $65,000)
  • 366%
  • (110,000 / $30,000)
5Jpmorgan Chase Bank 49 93%4%
  • 252%
  • (179,000 / $71,000)
  • 212%
  • (106,000 / $50,000)
6Us Bank 45 80%13%
  • 252%
  • (240,000 / $95,000)
  • 426%
  • (81,000 / $19,000)
7Wells Fargo Funding 44 100%0% 0 0
8Countrywide Bank Fsb 42 71%21%
  • 260%
  • (104,000 / $40,000)
  • 312%
  • (125,000 / $40,000)
9Citimortgage 27 92%7%
  • 251%
  • (113,000 / $45,000)
  • 360%
  • (90,000 / $25,000)
10New Day Financial, Llc 23 4%60%
  • 283%
  • (102,000 / $36,000)
  • 288%
  • (216,000 / $75,000)
11Quicken Loans 21 38%57%
  • 373%
  • (142,000 / $38,000)
  • 250%
  • (168,000 / $67,000)
12Franklin American Mortgage Co 21 66%4%
  • 283%
  • (68,000 / $24,000)
  • 238%
  • (191,000 / $80,000)
13Freedom Mortgage Corp. 16 50%18%
  • 376%
  • (158,000 / $42,000)
  • 257%
  • (54,000 / $21,000)
14State Bank & Trust 15 26%26%
  • 377%
  • (117,000 / $31,000)
  • 275%
  • (193,000 / $70,000)
15Flagstar Bank 15 80%13%
  • 261%
  • (89,000 / $34,000)
  • 275%
  • (77,000 / $28,000)
16American Equity Mortgage, 15 53%13%
  • 302%
  • (212,000 / $70,000)
  • 276%
  • (141,000 / $51,000)
17Summit Mortgage Corporation 12 50%8%
  • 250%
  • (178,000 / $71,000)
  • 161%
  • (42,000 / $26,000)
18Lake State Federal Credit Unio 12 8%25%
  • 443%
  • (71,000 / $16,000)
  • 323%
  • (84,000 / $26,000)
19Phh Home Loans 11 72%9%
  • 288%
  • (78,000 / $27,000)
  • 179%
  • (97,000 / $54,000)
20Marketplace Home Mortgage Llc 11 54%18%
  • 308%
  • (111,000 / $36,000)
  • 298%
  • (158,000 / $53,000)

Waterville, MN FHA Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 1,144
  2. Loan Applications Denied: 209
  3. % of Loan Applications Denied: 18
  4. # of Loan Originations: 681
  5. % of Loan Applications Originated 59

Waterville, MN FHA Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral34
Credit history21
Debt-to-income ratio18
Unverifiable information6
Credit application incomplete4

Waterville, MN FHA Mortgage Loans Processed & Denied Applications by Loan Amount

Loan Amount Category Number of Loan Applications Processed % of Loans Originated % of Loan Applications Denied
$0 - $100,000253 6118
$100,000 - $300,000888 5817
$300,000 - $500,0002 0100
$500,000 - $1,000,0001 1000

Waterville, MN FHA Home Loans Processed & Denied Applications by Income Level

Income Levels Category Number of Loan Applications Processed % of Loans Originated % of Loan Applications Denied
$0 - $100,0001,048 5918
$100,000 - $300,00092 5710
$300,000 - $500,0001 1000
$500,000 - $1,000,0003 3366

Loan to Income Ratios Research for FHA Mortgage in Waterville, MN

Loan to Income Ratio (Loan Amount as a Percentage of Income Levels) Number of Loan Applications Processed % of Loans Originated % of Loan Applications Denied
0 - 30%540 40
30 - 60%742 28
60 - 100%1968 21
100 - 200%25658 16
200 - 300%42866 15
300 - 400%25955 18
> 400%17046 25

Waterville, MN Home Owner Occupancy Type FHA Mortgage Data

Owner Occupancy Name Number of Loan Applications Processed % of Loans Originated % of Loan Applications Denied
Owner-Occupied As A Principal Dwelling1,141 5918
Not Owner-Occupied As A Principal Dwelling2 500
Not Applicable1 1000

Home Owner Property Type Statistics in Waterville, MN for FHA Home Loans

Property Type Name Number of Loan Applications Processed % of Loans Originated % of Loan Applications Denied
One-To-Four Family Dwelling (Other Than Manufactured Housing)1,095 6017
Manufactured Housing49 4628
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