Top Faribault, MN Mortgage Lenders

RankFaribault Mortgage LenderFaribault Home Loans ProcessedFaribault Home Loans ApprovedFaribault Home Loans DeniedFaribault Mortgage Median Loan to Income Ratio (LTR) for Approved LoansFaribault Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 4,949 60%16%
  • 205%
  • (144,000 Loan / $70,000 Income)
  • 194%
  • (105,000 Loan / $54,000 Income)
2Affinity Plus Federal Credit U 1,223 67%5%
  • 109%
  • (90,000 / $82,000)
  • 253%
  • (198,000 / $78,000)
3Jpmorgan Chase Bank 941 81%16%
  • 266%
  • (120,000 / $45,000)
  • 230%
  • (203,000 / $88,000)
4Countrywide Bank Fsb 852 69%17%
  • 232%
  • (221,000 / $95,000)
  • 267%
  • (75,000 / $28,000)
5Citimortgage 775 77%7%
  • 236%
  • (170,000 / $72,000)
  • 243%
  • (124,000 / $51,000)
6Us Bank 672 75%13%
  • 237%
  • (88,000 / $37,000)
  • 250%
  • (80,000 / $32,000)
7Genworth Mortgage Insurance Co 617 62%3%
  • 267%
  • (147,000 / $55,000)
  • 247%
  • (166,000 / $67,000)
8Mortgage Guaranty Insurance Co 546 72%8%
  • 265%
  • (125,000 / $47,000)
  • 242%
  • (170,000 / $70,000)
9Beneficial Company Llc 511 5%79%
  • 157%
  • (129,000 / $82,000)
  • 241%
  • (210,000 / $87,000)
10Countrywide Home Loans 508 76%16%
  • 247%
  • (119,000 / $48,000)
  • 250%
  • (140,000 / $56,000)
11United Guaranty Corporation 452 78%3%
  • 259%
  • (114,000 / $44,000)
  • 276%
  • (268,000 / $97,000)
12Wells Fargo Fin'l Minnesota 373 18%50%
  • 238%
  • (112,000 / $47,000)
  • 224%
  • (121,000 / $54,000)
13Bank Of America 360 69%16%
  • 218%
  • (142,000 / $65,000)
  • 263%
  • (87,000 / $33,000)
14Us Bank North Dakota 332 36%41%
  • 111%
  • (117,000 / $105,000)
  • 200%
  • (90,000 / $45,000)
15Citibank 297 77%16%
  • 63%
  • (82,000 / $129,000)
  • 80%
  • (65,000 / $81,000)
16Agstar Financial Services 285 59%10%
  • 240%
  • (183,000 / $76,000)
  • 284%
  • (165,000 / $58,000)
17Members Cooperative Credit Uni 268 82%8%
  • 93%
  • (27,000 / $29,000)
  • 260%
  • (112,000 / $43,000)
18Wells Fargo Funding 267 98%0%
  • 212%
  • (132,000 / $62,000)
  • 97%
  • (288,000 / $296,000)
19Phh Mortgage Corporation 263 84%4%
  • 226%
  • (190,000 / $84,000)
  • 220%
  • (108,000 / $49,000)
20Embrace Home Loans, 252 11%43%
  • 240%
  • (77,000 / $32,000)
  • 257%
  • (178,000 / $69,000)

Faribault, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 26,082
  2. Loan Applications Denied: 4,963
  3. % of Loan Applications Denied: 19
  4. # of Loan Originations: 16,046
  5. % of Loan Applications Originated 61

Faribault, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral10
Credit history8
Debt-to-income ratio6
Credit application incomplete2
Unverifiable information1

Faribault, 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 - $100,0009,065 6020
$100,000 - $300,00015,972 6217
$300,000 - $500,000987 5520
$500,000 - $1,000,00054 5131
$1,000,000 - $1,500,0002 1000
> $2,000,0002 0100

Faribault, 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 - $100,00022,077 6019
$100,000 - $300,0003,726 6813
$300,000 - $500,000178 6613
$500,000 - $1,000,00073 6417
$1,000,000 - $1,500,00018 710
$1,500,000 - $2,000,0005 800
> $2,000,0005 4060

Loan to Income Ratios Research for Mortgage in Faribault, 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%1,15158 25
30 - 60%1,64262 19
60 - 100%2,01660 19
100 - 200%6,52764 15
200 - 300%7,55261 17
300 - 400%4,46661 18
> 400%2,72849 27

Faribault, 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 Dwelling23,942 6019
Not Owner-Occupied As A Principal Dwelling1,925 7013
Not Applicable48 6018

Home Owner Property Type Statistics in Faribault, 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)22,895 6020
One To Four-Family2,488 734
Manufactured Housing699 5230
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