Top Norfolk, MN Mortgage Lenders

RankNorfolk Mortgage LenderNorfolk Home Loans ProcessedNorfolk Home Loans ApprovedNorfolk Home Loans DeniedNorfolk Mortgage Median Loan to Income Ratio (LTR) for Approved LoansNorfolk Mortgage Median LTR for Denied Loans
1Hometown Bank 103 90%8%
  • 132%
  • (122,000 Loan / $92,000 Income)
  • 181%
  • (40,000 Loan / $22,000 Income)
2Wells Fargo Bank 30 56%20%
  • 159%
  • (140,000 / $88,000)
  • 218%
  • (116,000 / $53,000)
3Mortgage Guaranty Insurance Co 27 48%14%
  • 176%
  • (76,000 / $43,000)
  • 181%
  • (60,000 / $33,000)
4Countrywide Bank Fsb 11 100%0%
  • 274%
  • (96,000 / $35,000)
0
5Trustone Financial Fcu 10 50%20%
  • 126%
  • (24,000 / $19,000)
  • 159%
  • (140,000 / $88,000)
6Countrywide Home Loans 8 100%0% 0 0
7Citifinancial Services Inc 8 50%0%
  • 176%
  • (60,000 / $34,000)
0
8Beneficial Company Llc 8 0%62% 0
  • 125%
  • (60,000 / $48,000)
9Bank Of America 6 50%33%
  • 347%
  • (80,000 / $23,000)
  • 550%
  • (220,000 / $40,000)
10Jpmorgan Chase Bank 5 80%20% 0
  • 203%
  • (175,000 / $86,000)
11Gmac Mortgage Llc 5 0%60% 0
  • 357%
  • (50,000 / $14,000)
12Wells Fargo Fin'l Minnesota 4 50%50%
  • 313%
  • (72,000 / $23,000)
  • 439%
  • (180,000 / $41,000)
13New Day Financial, Llc 4 25%50%
  • 408%
  • (184,000 / $45,000)
  • 788%
  • (213,000 / $27,000)
14M&I Marshall & Ilsley Bank 4 25%75%
  • 379%
  • (110,000 / $29,000)
  • 285%
  • (97,000 / $34,000)
15Home Loan Investment Bank 4 0%0% 0 0
16Genworth Mortgage Insurance Co 4 100%0%
  • 274%
  • (96,000 / $35,000)
0
17Frandsen Bank & Trust 4 0%25% 0
  • 92%
  • (35,000 / $38,000)
18Phh Mortgage Corporation 3 66%33%
  • 164%
  • (130,000 / $79,000)
  • 203%
  • (114,000 / $56,000)
19Capital One Home Loans, Llc 3 33%33%
  • 200%
  • (82,000 / $41,000)
  • 270%
  • (127,000 / $47,000)
20Us Bank North Dakota 2 0%100% 0
  • 203%
  • (59,000 / $29,000)

Norfolk, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 315
  2. Loan Applications Denied: 61
  3. % of Loan Applications Denied: 19
  4. # of Loan Originations: 207
  5. % of Loan Applications Originated 65

Norfolk, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Credit history9
Collateral7
Debt-to-income ratio6
Credit application incomplete5
Insufficient cash (downpayment, closing costs)1

Norfolk, 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 - $100,000161 6619
$100,000 - $300,000148 6418
$300,000 - $500,0005 6020
$500,000 - $1,000,0001 1000

Norfolk, 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 - $100,000273 6121
$100,000 - $300,00039 877
$300,000 - $500,0001 1000
$500,000 - $1,000,0001 1000
$1,000,000 - $1,500,0001 1000

Loan to Income Ratios Research for Mortgage in Norfolk, 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%2176 4
30 - 60%1675 18
60 - 100%3571 8
100 - 200%13367 16
200 - 300%7263 23
300 - 400%2351 34
> 400%1533 46

Norfolk, 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 Dwelling307 6519
Not Owner-Occupied As A Principal Dwelling5 6020
Not Applicable3 1000

Home Owner Property Type Statistics in Norfolk, 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)276 6720
One To Four-Family36 6111
Manufactured Housing3 033
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