Top Detroit, MN Mortgage Lenders

RankDetroit Mortgage LenderDetroit Home Loans ProcessedDetroit Home Loans ApprovedDetroit Home Loans DeniedDetroit Mortgage Median Loan to Income Ratio (LTR) for Approved LoansDetroit Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 609 70%11%
  • 197%
  • (71,000 Loan / $36,000 Income)
  • 116%
  • (28,000 Loan / $24,000 Income)
2Bremer Bank Na (Fargo) 598 81%5%
  • 139%
  • (67,000 / $48,000)
  • 137%
  • (92,000 / $67,000)
3State Bank & Trust 499 80%8%
  • 121%
  • (89,000 / $73,000)
  • 247%
  • (119,000 / $48,000)
4Jpmorgan Chase Bank 288 84%12%
  • 277%
  • (61,000 / $22,000)
  • 273%
  • (104,000 / $38,000)
5Citimortgage 208 87%4%
  • 270%
  • (227,000 / $84,000)
  • 204%
  • (98,000 / $48,000)
6Us Bank 176 73%12%
  • 234%
  • (89,000 / $38,000)
  • 297%
  • (280,000 / $94,000)
7Midwest Bank 174 88%9%
  • 168%
  • (96,000 / $57,000)
  • 121%
  • (28,000 / $23,000)
8Mortgage Guaranty Insurance Co 83 78%7%
  • 245%
  • (145,000 / $59,000)
  • 316%
  • (275,000 / $87,000)
9Citibank 65 72%20%
  • 108%
  • (52,000 / $48,000)
  • 99%
  • (114,000 / $115,000)
10Countrywide Bank Fsb 62 80%12%
  • 172%
  • (121,000 / $70,000)
  • 178%
  • (82,000 / $46,000)
11Genworth Mortgage Insurance Co 49 59%8%
  • 278%
  • (198,000 / $71,000)
  • 271%
  • (106,000 / $39,000)
12Washington Mutual Bank 47 53%38%
  • 218%
  • (181,000 / $83,000)
  • 262%
  • (210,000 / $80,000)
13Bank Of America 45 73%13%
  • 163%
  • (67,000 / $41,000)
  • 404%
  • (178,000 / $44,000)
14Beneficial Company Llc 44 9%75%
  • 173%
  • (73,000 / $42,000)
  • 178%
  • (50,000 / $28,000)
15Affinity Plus Federal Credit U 41 70%4%
  • 117%
  • (40,000 / $34,000)
  • 92%
  • (53,000 / $57,000)
16Us Bank North Dakota 40 22%50%
  • 145%
  • (58,000 / $40,000)
  • 100%
  • (30,000 / $30,000)
17Embrace Home Loans, 39 5%61%
  • 259%
  • (57,000 / $22,000)
  • 272%
  • (49,000 / $18,000)
18Primary Residential Mortgage 38 63%21%
  • 287%
  • (158,000 / $55,000)
  • 300%
  • (117,000 / $39,000)
19Wells Fargo Funding 36 100%0%
  • 161%
  • (100,000 / $62,000)
0
20Gate City Bank 35 77%11%
  • 130%
  • (124,000 / $95,000)
  • 266%
  • (365,000 / $137,000)

Detroit, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 4,168
  2. Loan Applications Denied: 575
  3. % of Loan Applications Denied: 13
  4. # of Loan Originations: 2,969
  5. % of Loan Applications Originated 71

Detroit, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Credit history11
Collateral9
Debt-to-income ratio7
Credit application incomplete4
Unverifiable information1

Detroit, 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 - $100,0001,695 7215
$100,000 - $300,0002,283 6912
$300,000 - $500,000179 738
$500,000 - $1,000,00011 639

Detroit, 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 - $100,0003,396 6915
$100,000 - $300,000702 768
$300,000 - $500,00047 804
$500,000 - $1,000,00020 6515
$1,000,000 - $1,500,0003 3333

Loan to Income Ratios Research for Mortgage in Detroit, 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%23977 14
30 - 60%33675 13
60 - 100%35370 15
100 - 200%1,12973 13
200 - 300%1,04571 12
300 - 400%63569 10
> 400%43157 20

Detroit, 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 Dwelling3,707 7014
Not Owner-Occupied As A Principal Dwelling441 798
Not Applicable2 5050

Home Owner Property Type Statistics in Detroit, 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)3,835 7113
One To Four-Family234 755
Manufactured Housing99 4936
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