Top Ada, MN Mortgage Lenders

RankAda Mortgage LenderAda Home Loans ProcessedAda Home Loans ApprovedAda Home Loans DeniedAda Mortgage Median Loan to Income Ratio (LTR) for Approved LoansAda Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 2,283 68%14%
  • 177%
  • (142,000 Loan / $80,000 Income)
  • 144%
  • (110,000 Loan / $76,000 Income)
2Jpmorgan Chase Bank 545 86%11%
  • 248%
  • (102,000 / $41,000)
  • 231%
  • (67,000 / $29,000)
3Us Bank 335 80%12%
  • 194%
  • (68,000 / $35,000)
  • 214%
  • (150,000 / $70,000)
4State Bank & Trust 280 70%17%
  • 97%
  • (45,000 / $46,000)
  • 180%
  • (92,000 / $51,000)
5Home Federal Savings Bank 280 65%10%
  • 175%
  • (140,000 / $80,000)
  • 140%
  • (45,000 / $32,000)
6Bank Of America 255 76%13%
  • 196%
  • (57,000 / $29,000)
  • 248%
  • (62,000 / $25,000)
7Citimortgage 235 82%5%
  • 215%
  • (69,000 / $32,000)
  • 265%
  • (77,000 / $29,000)
8Mortgage Guaranty Insurance Co 230 77%3%
  • 216%
  • (119,000 / $55,000)
  • 243%
  • (207,000 / $85,000)
9Frandsen Bank & Trust 219 90%4%
  • 142%
  • (101,000 / $71,000)
  • 111%
  • (76,000 / $68,000)
10Countrywide Bank Fsb 210 72%13%
  • 187%
  • (101,000 / $54,000)
  • 237%
  • (157,000 / $66,000)
11Embrace Home Loans, 182 10%47%
  • 189%
  • (131,000 / $69,000)
  • 276%
  • (108,000 / $39,000)
12Genworth Mortgage Insurance Co 160 63%0%
  • 227%
  • (134,000 / $59,000)
  • 181%
  • (58,000 / $32,000)
13Citizens Bank Minnesota 135 91%5%
  • 180%
  • (94,000 / $52,000)
  • 170%
  • (58,000 / $34,000)
14Countrywide Home Loans 125 81%12%
  • 190%
  • (228,000 / $120,000)
  • 212%
  • (85,000 / $40,000)
15Affinity Plus Federal Credit U 113 75%2%
  • 115%
  • (60,000 / $52,000)
  • 239%
  • (122,000 / $51,000)
16Wells Fargo Funding 112 98%0%
  • 196%
  • (120,000 / $61,000)
  • 155%
  • (90,000 / $58,000)
17Beneficial Company Llc 110 5%81%
  • 190%
  • (57,000 / $30,000)
  • 196%
  • (102,000 / $52,000)
18Bank Of The West 108 74%17%
  • 174%
  • (94,000 / $54,000)
  • 186%
  • (164,000 / $88,000)
19Us Bank North Dakota 101 33%46%
  • 125%
  • (90,000 / $72,000)
  • 140%
  • (70,000 / $50,000)
20Wells Fargo Fin'l Minnesota 99 17%46%
  • 217%
  • (146,000 / $67,000)
  • 204%
  • (133,000 / $65,000)

Ada, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 10,436
  2. Loan Applications Denied: 1,736
  3. % of Loan Applications Denied: 16
  4. # of Loan Originations: 7,034
  5. % of Loan Applications Originated 67

Ada, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral10
Credit history10
Debt-to-income ratio8
Credit application incomplete3
Unverifiable information1

Ada, MN Mortgage Loans Processed & Denied Applications by Loan Amount

Loan Amount Category Number of Loan Applications Processed % of Loans Originated % of Loan Applications Denied
$0 - $100,0004,601 6418
$100,000 - $300,0005,521 6814
$300,000 - $500,000286 7212
$500,000 - $1,000,00023 3839
$1,000,000 - $1,500,0003 660
$1,500,000 - $2,000,0002 500

Ada, MN Home Loans Processed & Denied Applications by Income Level

Income Levels Category Number of Loan Applications Processed % of Loans Originated % of Loan Applications Denied
$0 - $100,0008,606 6517
$100,000 - $300,0001,709 7510
$300,000 - $500,00080 6815
$500,000 - $1,000,00035 5114
$1,000,000 - $1,500,0004 500
$1,500,000 - $2,000,0001 1000
> $2,000,0001 1000

Loan to Income Ratios Research for Mortgage in Ada, 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%52361 21
30 - 60%70468 15
60 - 100%95770 16
100 - 200%3,53268 14
200 - 300%2,83968 14
300 - 400%1,20563 18
> 400%67648 29

Ada, MN Home Owner Occupancy Type Mortgage Data

Owner Occupancy Name Number of Loan Applications Processed % of Loans Originated % of Loan Applications Denied
Owner-Occupied As A Principal Dwelling9,197 6617
Not Owner-Occupied As A Principal Dwelling1,170 7611
Not Applicable17 4723

Home Owner Property Type Statistics in Ada, MN for 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)9,551 6617
One To Four-Family701 772
Manufactured Housing184 5136
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