Top Florence, MN Mortgage Lenders

RankFlorence Mortgage LenderFlorence Home Loans ProcessedFlorence Home Loans ApprovedFlorence Home Loans DeniedFlorence Mortgage Median Loan to Income Ratio (LTR) for Approved LoansFlorence Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 143 56%24%
  • 222%
  • (600,000 Loan / $270,000 Income)
  • 113%
  • (50,000 Loan / $44,000 Income)
2Friend Bank 65 83%6%
  • 115%
  • (60,000 / $52,000)
  • 402%
  • (145,000 / $36,000)
3Associated Bank 59 79%10%
  • 151%
  • (85,000 / $56,000)
  • 14%
  • (10,000 / $67,000)
4Alliance Bank 47 59%12%
  • 178%
  • (125,000 / $70,000)
  • 180%
  • (117,000 / $65,000)
5Citimortgage 30 63%16%
  • 289%
  • (165,000 / $57,000)
  • 166%
  • (90,000 / $54,000)
6Affinity Plus Federal Credit U 25 68%4%
  • 108%
  • (94,000 / $87,000)
  • 278%
  • (340,000 / $122,000)
7Us Bank 21 85%14%
  • 222%
  • (220,000 / $99,000)
  • 439%
  • (189,000 / $43,000)
8Merchants Bank 21 90%4%
  • 181%
  • (120,000 / $66,000)
  • 544%
  • (256,000 / $47,000)
9Countrywide Bank Fsb 20 80%15%
  • 261%
  • (186,000 / $71,000)
  • 357%
  • (397,000 / $111,000)
10Wells Federal Bank 19 68%0%
  • 234%
  • (190,000 / $81,000)
0
11Jpmorgan Chase Bank 19 73%21%
  • 348%
  • (164,000 / $47,000)
  • 177%
  • (64,000 / $36,000)
12Associated Bank Na 19 57%36%
  • 240%
  • (120,000 / $50,000)
  • 375%
  • (364,000 / $97,000)
13Genworth Mortgage Insurance Co 16 68%0%
  • 326%
  • (85,000 / $26,000)
0
14Agstar Financial Services 16 62%25%
  • 263%
  • (279,000 / $106,000)
  • 350%
  • (357,000 / $102,000)
15Think Mutual Bank 15 80%6%
  • 98%
  • (75,000 / $76,000)
  • 5%
  • (5,000 / $86,000)
16United Guaranty Corporation 14 85%7%
  • 296%
  • (305,000 / $103,000)
  • 347%
  • (689,000 / $198,000)
17Bank Of America 14 57%35%
  • 205%
  • (105,000 / $51,000)
  • 239%
  • (299,000 / $125,000)
18Quicken Loans 13 92%0%
  • 297%
  • (229,000 / $77,000)
0
19Countrywide Home Loans 13 61%15%
  • 130%
  • (178,000 / $136,000)
  • 220%
  • (75,000 / $34,000)
20Beneficial Company Llc 12 16%58%
  • 355%
  • (121,000 / $34,000)
  • 246%
  • (138,000 / $56,000)

Florence, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 965
  2. Loan Applications Denied: 179
  3. % of Loan Applications Denied: 18
  4. # of Loan Originations: 611
  5. % of Loan Applications Originated 63

Florence, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral15
Debt-to-income ratio13
Credit history7
Credit application incomplete2
Insufficient cash (downpayment, closing costs)1

Florence, 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 - $100,000221 6323
$100,000 - $300,000603 6415
$300,000 - $500,000129 5026
$500,000 - $1,000,00012 6616

Florence, 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 - $100,000662 6119
$100,000 - $300,000267 6516
$300,000 - $500,00025 6016
$500,000 - $1,000,00010 7010
$1,000,000 - $1,500,0001 1000

Loan to Income Ratios Research for Mortgage in Florence, 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%4461 27
30 - 60%6058 23
60 - 100%9369 16
100 - 200%24366 13
200 - 300%24565 16
300 - 400%16867 18
> 400%11239 30

Florence, 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 Dwelling874 6318
Not Owner-Occupied As A Principal Dwelling87 6417
Not Applicable3 3366

Home Owner Property Type Statistics in Florence, 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)900 6219
One To Four-Family53 811
Manufactured Housing12 4150
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