Top Melrose, MN Mortgage Lenders

RankMelrose Mortgage LenderMelrose Home Loans ProcessedMelrose Home Loans ApprovedMelrose Home Loans DeniedMelrose Mortgage Median Loan to Income Ratio (LTR) for Approved LoansMelrose Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 1,478 68%13%
  • 195%
  • (417,000 Loan / $213,000 Income)
  • 224%
  • (148,000 Loan / $66,000 Income)
2North Shore Bank Of Commerce 465 81%9%
  • 209%
  • (255,000 / $122,000)
  • 284%
  • (108,000 / $38,000)
3Us Bank 402 83%8%
  • 234%
  • (384,000 / $164,000)
  • 332%
  • (166,000 / $50,000)
4Central Minnesota Cu 362 80%7%
  • 165%
  • (104,000 / $63,000)
  • 180%
  • (36,000 / $20,000)
5Jpmorgan Chase Bank 340 85%11%
  • 256%
  • (113,000 / $44,000)
  • 225%
  • (54,000 / $24,000)
6Central Mn Cu 221 75%9%
  • 175%
  • (126,000 / $72,000)
  • 272%
  • (150,000 / $55,000)
7Bank Of America 208 75%12%
  • 210%
  • (78,000 / $37,000)
  • 280%
  • (840,000 / $300,000)
8Citimortgage 170 75%9%
  • 259%
  • (350,000 / $135,000)
  • 282%
  • (82,000 / $29,000)
9Countrywide Bank Fsb 144 81%7%
  • 241%
  • (150,000 / $62,000)
  • 297%
  • (104,000 / $35,000)
10Affinity Plus Federal Credit U 140 69%2%
  • 162%
  • (135,000 / $83,000)
  • 197%
  • (69,000 / $35,000)
11Phh Mortgage Corporation 134 82%4%
  • 243%
  • (461,000 / $189,000)
  • 292%
  • (345,000 / $118,000)
12National Bank Of Commerce 126 76%15%
  • 188%
  • (100,000 / $53,000)
  • 336%
  • (400,000 / $119,000)
13Us Bank North Dakota 124 39%46%
  • 116%
  • (125,000 / $107,000)
  • 150%
  • (450,000 / $300,000)
14Us Bk Na Nd 117 44%42%
  • 116%
  • (76,000 / $65,000)
  • 229%
  • (55,000 / $24,000)
15Wells Fargo Funding 98 98%1%
  • 241%
  • (348,000 / $144,000)
  • 504%
  • (232,000 / $46,000)
16Freeport State Bank 86 67%22%
  • 168%
  • (140,000 / $83,000)
  • 158%
  • (65,000 / $41,000)
17Countrywide Home Loans 83 84%4%
  • 178%
  • (82,000 / $46,000)
  • 216%
  • (130,000 / $60,000)
18Citibank 82 63%17%
  • 111%
  • (147,000 / $132,000)
  • 85%
  • (55,000 / $64,000)
19Radian Guaranty 81 90%1%
  • 270%
  • (405,000 / $150,000)
  • 597%
  • (209,000 / $35,000)
20Mortgage Guaranty Insurance Co 76 73%3%
  • 276%
  • (94,000 / $34,000)
  • 283%
  • (289,000 / $102,000)

Melrose, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 7,998
  2. Loan Applications Denied: 1,146
  3. % of Loan Applications Denied: 14
  4. # of Loan Originations: 5,619
  5. % of Loan Applications Originated 70

Melrose, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral13
Debt-to-income ratio10
Credit history9
Credit application incomplete3
Unverifiable information2

Melrose, 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 - $100,0001,885 6717
$100,000 - $300,0004,781 7013
$300,000 - $500,0001,155 7212
$500,000 - $1,000,000170 5717
$1,000,000 - $1,500,0007 5714

Melrose, 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 - $100,0005,255 6715
$100,000 - $300,0002,456 7311
$300,000 - $500,000185 748
$500,000 - $1,000,00091 6310
$1,000,000 - $1,500,0007 5714
$1,500,000 - $2,000,0002 1000
> $2,000,0002 5050

Loan to Income Ratios Research for Mortgage in Melrose, 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%29771 18
30 - 60%41970 15
60 - 100%63272 11
100 - 200%2,22472 12
200 - 300%2,30571 13
300 - 400%1,29268 14
> 400%82958 24

Melrose, 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 Dwelling7,480 7014
Not Owner-Occupied As A Principal Dwelling497 7112
Not Applicable12 7525

Home Owner Property Type Statistics in Melrose, 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)7,449 6914
One To Four-Family372 793
Manufactured Housing177 6221
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