Top Elk River, MN Mortgage Lenders

RankElk River Mortgage LenderElk River Home Loans ProcessedElk River Home Loans ApprovedElk River Home Loans DeniedElk River Mortgage Median Loan to Income Ratio (LTR) for Approved LoansElk River Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 2,696 69%13%
  • 211%
  • (211,000 Loan / $100,000 Income)
  • 200%
  • (292,000 Loan / $146,000 Income)
2Jpmorgan Chase Bank 833 86%12%
  • 219%
  • (114,000 / $52,000)
  • 230%
  • (194,000 / $84,000)
3Us Bank 625 82%10%
  • 228%
  • (89,000 / $39,000)
  • 274%
  • (118,000 / $43,000)
4Citimortgage 543 85%6%
  • 274%
  • (294,000 / $107,000)
  • 288%
  • (216,000 / $75,000)
5Bank Of America 432 77%12%
  • 241%
  • (111,000 / $46,000)
  • 293%
  • (132,000 / $45,000)
6Countrywide Bank Fsb 414 71%16%
  • 238%
  • (286,000 / $120,000)
  • 294%
  • (383,000 / $130,000)
7Citibank 380 68%15%
  • 166%
  • (105,000 / $63,000)
  • 138%
  • (61,000 / $44,000)
8Wells Fargo Funding 327 99%0%
  • 250%
  • (128,000 / $51,000)
  • 239%
  • (91,000 / $38,000)
9Tcf National Bank 281 29%46%
  • 244%
  • (93,000 / $38,000)
  • 292%
  • (205,000 / $70,000)
10Countrywide Home Loans 256 73%16%
  • 269%
  • (210,000 / $78,000)
  • 289%
  • (246,000 / $85,000)
11Mortgage Guaranty Insurance Co 240 69%6%
  • 300%
  • (153,000 / $51,000)
  • 324%
  • (383,000 / $118,000)
12The Business Bank 225 90%6%
  • 243%
  • (185,000 / $76,000)
  • 300%
  • (210,000 / $70,000)
13The Bank Of Elk River 224 88%10%
  • 43%
  • (25,000 / $57,000)
  • 71%
  • (25,000 / $35,000)
14Bell America Mortgage Llc Dba 187 75%2%
  • 293%
  • (144,000 / $49,000)
  • 426%
  • (260,000 / $61,000)
15Us Bk Na Nd 178 55%38%
  • 116%
  • (132,000 / $113,000)
  • 211%
  • (233,000 / $110,000)
16Quicken Loans 172 72%21%
  • 255%
  • (133,000 / $52,000)
  • 305%
  • (214,000 / $70,000)
17Liberty Savings Bank Fsb 164 92%2%
  • 224%
  • (139,000 / $62,000)
  • 273%
  • (200,000 / $73,000)
18United Guaranty Corporation 163 74%6%
  • 276%
  • (180,000 / $65,000)
  • 397%
  • (286,000 / $72,000)
19Radian Guaranty 159 81%1%
  • 261%
  • (204,000 / $78,000)
  • 468%
  • (89,000 / $19,000)
20Waterstone Mortgage Corp 158 74%9%
  • 258%
  • (189,000 / $73,000)
  • 240%
  • (180,000 / $75,000)

Elk River, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 15,383
  2. Loan Applications Denied: 2,452
  3. % of Loan Applications Denied: 15
  4. # of Loan Originations: 10,456
  5. % of Loan Applications Originated 67

Elk River, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral13
Debt-to-income ratio8
Credit history7
Credit application incomplete4
Unverifiable information2

Elk River, 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 - $100,0003,208 6518
$100,000 - $300,00011,133 6814
$300,000 - $500,000971 5523
$500,000 - $1,000,00065 2740
$1,000,000 - $1,500,0005 2040
$1,500,000 - $2,000,0001 0100

Elk River, 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 - $100,00011,483 6716
$100,000 - $300,0003,764 6814
$300,000 - $500,00093 5424
$500,000 - $1,000,00031 4525
$1,000,000 - $1,500,0006 5033
$1,500,000 - $2,000,0002 00
> $2,000,0004 5050

Loan to Income Ratios Research for Mortgage in Elk River, 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%57162 23
30 - 60%75564 18
60 - 100%1,02266 15
100 - 200%3,69872 13
200 - 300%4,62669 13
300 - 400%3,07165 16
> 400%1,64056 23

Elk River, 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 Dwelling14,570 6815
Not Owner-Occupied As A Principal Dwelling746 6617
Not Applicable7 4214

Home Owner Property Type Statistics in Elk River, 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)14,387 6716
One To Four-Family932 744
Manufactured Housing64 1278
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