Top Albert Lea, MN Mortgage Lenders

RankAlbert Lea Mortgage LenderAlbert Lea Home Loans ProcessedAlbert Lea Home Loans ApprovedAlbert Lea Home Loans DeniedAlbert Lea Mortgage Median Loan to Income Ratio (LTR) for Approved LoansAlbert Lea Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 5,205 63%15%
  • 208%
  • (154,000 Loan / $74,000 Income)
  • 169%
  • (180,000 Loan / $106,000 Income)
2Affinity Plus Federal Credit U 2,074 62%10%
  • 118%
  • (104,000 / $88,000)
  • 264%
  • (466,000 / $176,000)
3Jpmorgan Chase Bank 1,124 79%16%
  • 249%
  • (127,000 / $51,000)
  • 226%
  • (145,000 / $64,000)
4Countrywide Bank Fsb 1,099 71%17%
  • 235%
  • (106,000 / $45,000)
  • 260%
  • (117,000 / $45,000)
5Citimortgage 938 78%10%
  • 233%
  • (138,000 / $59,000)
  • 273%
  • (123,000 / $45,000)
6Us Bank North Dakota 691 38%41%
  • 104%
  • (91,000 / $87,000)
  • 144%
  • (52,000 / $36,000)
7Beneficial Company Llc 690 6%78%
  • 184%
  • (299,000 / $162,000)
  • 226%
  • (170,000 / $75,000)
8Us Bank 668 74%15%
  • 226%
  • (145,000 / $64,000)
  • 282%
  • (280,000 / $99,000)
9Countrywide Home Loans 642 76%16%
  • 215%
  • (172,000 / $80,000)
  • 242%
  • (410,000 / $169,000)
10Mortgage Guaranty Insurance Co 617 72%6%
  • 237%
  • (183,000 / $77,000)
  • 239%
  • (338,000 / $141,000)
11Bank Of America 588 73%17%
  • 234%
  • (164,000 / $70,000)
  • 265%
  • (178,000 / $67,000)
12Genworth Mortgage Insurance Co 563 61%3%
  • 247%
  • (114,000 / $46,000)
  • 268%
  • (78,000 / $29,000)
13American Bank Of The North 469 76%13%
  • 137%
  • (106,000 / $77,000)
  • 200%
  • (52,000 / $26,000)
14Citifinancial Services Inc 451 31%46%
  • 184%
  • (24,000 / $13,000)
  • 141%
  • (34,000 / $24,000)
15Wells Fargo Fin'l Minnesota 426 15%52%
  • 242%
  • (109,000 / $45,000)
  • 218%
  • (175,000 / $80,000)
16Phh Mortgage Corporation 402 83%2%
  • 217%
  • (126,000 / $58,000)
  • 309%
  • (68,000 / $22,000)
17Embrace Home Loans, 377 6%45%
  • 194%
  • (37,000 / $19,000)
  • 268%
  • (94,000 / $35,000)
18Wells Federal Bank 376 67%15%
  • 175%
  • (167,000 / $95,000)
  • 233%
  • (70,000 / $30,000)
19Citibank 363 79%13%
  • 60%
  • (45,000 / $74,000)
  • 75%
  • (120,000 / $160,000)
20Wells Fargo Funding 341 99%0%
  • 222%
  • (234,000 / $105,000)
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Albert Lea, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 30,863
  2. Loan Applications Denied: 6,067
  3. % of Loan Applications Denied: 19
  4. # of Loan Originations: 19,048
  5. % of Loan Applications Originated 61

Albert Lea, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Credit history12
Collateral10
Debt-to-income ratio7
Credit application incomplete2
Unverifiable information1

Albert Lea, 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 - $100,00012,470 6121
$100,000 - $300,00017,044 6218
$300,000 - $500,0001,257 5521
$500,000 - $1,000,00087 4737
$1,000,000 - $1,500,0004 7525
> $2,000,0001 1000

Albert Lea, 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 - $100,00026,071 6020
$100,000 - $300,0004,486 6714
$300,000 - $500,000198 6216
$500,000 - $1,000,00075 5824
$1,000,000 - $1,500,00023 6921
$1,500,000 - $2,000,0003 330
> $2,000,0007 1000

Loan to Income Ratios Research for Mortgage in Albert Lea, 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%1,43160 24
30 - 60%2,02459 22
60 - 100%2,60763 19
100 - 200%8,41865 16
200 - 300%8,56663 17
300 - 400%4,83959 19
> 400%2,97846 31

Albert Lea, 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 Dwelling28,698 6119
Not Owner-Occupied As A Principal Dwelling1,974 7015
Not Applicable68 5226

Home Owner Property Type Statistics in Albert Lea, 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)27,648 6020
One To Four-Family2,368 743
Manufactured Housing847 5129
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