Top Ely, MN Mortgage Lenders

RankEly Mortgage LenderEly Home Loans ProcessedEly Home Loans ApprovedEly Home Loans DeniedEly Mortgage Median Loan to Income Ratio (LTR) for Approved LoansEly Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 450 58%18%
  • 161%
  • (181,000 Loan / $112,000 Income)
  • 129%
  • (258,000 Loan / $200,000 Income)
2Us Bank 102 66%22%
  • 233%
  • (133,000 / $57,000)
  • 280%
  • (115,000 / $41,000)
3Frandsen Bank & Trust 96 82%11%
  • 161%
  • (89,000 / $55,000)
  • 176%
  • (138,000 / $78,000)
4Queen City Federal Savings Ban 91 86%8%
  • 183%
  • (108,000 / $59,000)
  • 411%
  • (74,000 / $18,000)
5Jpmorgan Chase Bank 91 80%13%
  • 234%
  • (202,000 / $86,000)
  • 195%
  • (417,000 / $213,000)
6Bell America Mortgage Llc Dba 78 55%6%
  • 221%
  • (84,000 / $38,000)
  • 384%
  • (50,000 / $13,000)
7American Bank Of The North 76 67%21%
  • 136%
  • (109,000 / $80,000)
  • 268%
  • (67,000 / $25,000)
8Affinity Plus Federal Credit U 73 65%1%
  • 105%
  • (110,000 / $104,000)
  • 278%
  • (198,000 / $71,000)
9Northview Bank 69 65%17%
  • 187%
  • (275,000 / $147,000)
  • 235%
  • (125,000 / $53,000)
10Bank Of America 68 58%22%
  • 159%
  • (241,000 / $151,000)
  • 257%
  • (263,000 / $102,000)
11Boundary Waters Bank 56 44%41%
  • 69%
  • (63,000 / $91,000)
  • 105%
  • (150,000 / $142,000)
12Countrywide Bank Fsb 48 77%14%
  • 160%
  • (216,000 / $135,000)
  • 296%
  • (95,000 / $32,000)
13Us Bank North Dakota 47 29%44%
  • 206%
  • (60,000 / $29,000)
  • 300%
  • (150,000 / $50,000)
14Us Bk Na Nd 39 33%48%
  • 211%
  • (150,000 / $71,000)
  • 147%
  • (62,000 / $42,000)
15Citimortgage 38 76%13%
  • 95%
  • (93,000 / $97,000)
  • 333%
  • (120,000 / $36,000)
16State Bank Of Tower 33 63%9%
  • 141%
  • (34,000 / $24,000)
  • 66%
  • (26,000 / $39,000)
17Countrywide Home Loans 32 81%18%
  • 233%
  • (70,000 / $30,000)
  • 306%
  • (368,000 / $120,000)
18Mortgage Guaranty Insurance Co 30 73%13%
  • 190%
  • (95,000 / $50,000)
  • 155%
  • (124,000 / $80,000)
19Freedom Mortgage Corp. 29 72%6%
  • 231%
  • (81,000 / $35,000)
  • 570%
  • (137,000 / $24,000)
20Phh Mortgage Corporation 28 67%21%
  • 144%
  • (75,000 / $52,000)
  • 192%
  • (77,000 / $40,000)

Ely, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 2,388
  2. Loan Applications Denied: 477
  3. % of Loan Applications Denied: 19
  4. # of Loan Originations: 1,465
  5. % of Loan Applications Originated 61

Ely, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral15
Debt-to-income ratio14
Credit history10
Unverifiable information4
Credit application incomplete3

Ely, 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 - $100,0001,076 6120
$100,000 - $300,0001,067 6118
$300,000 - $500,000205 5920
$500,000 - $1,000,00034 3832
$1,000,000 - $1,500,0003 3366
> $2,000,0003 033

Ely, 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 - $100,0001,723 6020
$100,000 - $300,000564 6318
$300,000 - $500,00046 5430
$500,000 - $1,000,00045 6315
$1,000,000 - $1,500,0003 3333
$1,500,000 - $2,000,0003 660
> $2,000,0004 5025

Loan to Income Ratios Research for Mortgage in Ely, 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%10059 28
30 - 60%16365 19
60 - 100%32559 18
100 - 200%74265 17
200 - 300%51263 18
300 - 400%28057 19
> 400%26645 30

Ely, 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 Dwelling1,730 6020
Not Owner-Occupied As A Principal Dwelling637 6319

Home Owner Property Type Statistics in Ely, 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)2,247 6020
One To Four-Family105 805
Manufactured Housing36 4441
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