Top Elgin, MN Mortgage Lenders

RankElgin Mortgage LenderElgin Home Loans ProcessedElgin Home Loans ApprovedElgin Home Loans DeniedElgin Mortgage Median Loan to Income Ratio (LTR) for Approved LoansElgin Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 743 58%21%
  • 183%
  • (55,000 Loan / $30,000 Income)
  • 163%
  • (150,000 Loan / $92,000 Income)
2Jpmorgan Chase Bank 194 89%10%
  • 238%
  • (81,000 / $34,000)
  • 250%
  • (60,000 / $24,000)
3Peoples State Bank Of Plainvie 192 94%5%
  • 143%
  • (96,000 / $67,000)
  • 257%
  • (144,000 / $56,000)
4Mortgage Guaranty Insurance Co 158 60%9%
  • 228%
  • (158,000 / $69,000)
  • 204%
  • (135,000 / $66,000)
5Citimortgage 157 75%7%
  • 190%
  • (95,000 / $50,000)
  • 222%
  • (320,000 / $144,000)
6Countrywide Bank Fsb 156 64%16%
  • 214%
  • (193,000 / $90,000)
  • 216%
  • (80,000 / $37,000)
7Us Bank 142 80%11%
  • 195%
  • (164,000 / $84,000)
  • 217%
  • (122,000 / $56,000)
8Beneficial Company Llc 120 7%76%
  • 209%
  • (92,000 / $44,000)
  • 222%
  • (158,000 / $71,000)
9Wells Federal Bank 116 65%11%
  • 181%
  • (67,000 / $37,000)
  • 311%
  • (53,000 / $17,000)
10First Farmers & Merchants Natl 101 83%7%
  • 148%
  • (125,000 / $84,000)
  • 209%
  • (65,000 / $31,000)
11Genworth Mortgage Insurance Co 97 60%2%
  • 253%
  • (71,000 / $28,000)
  • 181%
  • (107,000 / $59,000)
12Hometown Bank 92 90%9%
  • 134%
  • (82,000 / $61,000)
  • 294%
  • (50,000 / $17,000)
13Countrywide Home Loans 86 79%11%
  • 209%
  • (134,000 / $64,000)
  • 173%
  • (146,000 / $84,000)
14Affinity Plus Federal Credit U 81 64%6%
  • 88%
  • (70,000 / $79,000)
  • 211%
  • (275,000 / $130,000)
15Wells Fargo Fin'l Minnesota 77 20%54%
  • 207%
  • (110,000 / $53,000)
  • 214%
  • (88,000 / $41,000)
16Embrace Home Loans, 76 15%43%
  • 330%
  • (109,000 / $33,000)
  • 263%
  • (100,000 / $38,000)
17Bank Of America 72 80%15%
  • 188%
  • (68,000 / $36,000)
  • 235%
  • (73,000 / $31,000)
18Citifinancial Services Inc 71 32%36%
  • 223%
  • (58,000 / $26,000)
  • 112%
  • (27,000 / $24,000)
19Us Bank North Dakota 66 45%36%
  • 108%
  • (38,000 / $35,000)
  • 96%
  • (50,000 / $52,000)
20Roundbank 63 63%28%
  • 137%
  • (92,000 / $67,000)
  • 191%
  • (88,000 / $46,000)

Elgin, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 5,086
  2. Loan Applications Denied: 993
  3. % of Loan Applications Denied: 19
  4. # of Loan Originations: 3,155
  5. % of Loan Applications Originated 62

Elgin, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Credit history9
Collateral8
Debt-to-income ratio7
Credit application incomplete2
Unverifiable information1

Elgin, 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 - $100,0002,295 5822
$100,000 - $300,0002,614 6316
$300,000 - $500,000164 6123
$500,000 - $1,000,00013 3830

Elgin, 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 - $100,0004,224 6020
$100,000 - $300,000796 6914
$300,000 - $500,00038 6815
$500,000 - $1,000,00024 824
$1,000,000 - $1,500,0002 050
$1,500,000 - $2,000,0002 1000

Loan to Income Ratios Research for Mortgage in Elgin, 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%29563 21
30 - 60%33060 20
60 - 100%46460 23
100 - 200%1,60265 16
200 - 300%1,35761 17
300 - 400%64958 19
> 400%38951 32

Elgin, 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 Dwelling4,538 6019
Not Owner-Occupied As A Principal Dwelling502 7215
Not Applicable6 3350

Home Owner Property Type Statistics in Elgin, 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)4,439 6120
One To Four-Family467 684
Manufactured Housing180 4932
More Elgin, MN Mortgage Research: