Top Otter Tail, MN Mortgage Lenders

RankOtter Tail Mortgage LenderOtter Tail Home Loans ProcessedOtter Tail Home Loans ApprovedOtter Tail Home Loans DeniedOtter Tail Mortgage Median Loan to Income Ratio (LTR) for Approved LoansOtter Tail Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 332 66%16%
  • 158%
  • (176,000 Loan / $111,000 Income)
  • 171%
  • (108,000 Loan / $63,000 Income)
2Jpmorgan Chase Bank 118 77%19%
  • 244%
  • (61,000 / $25,000)
  • 248%
  • (112,000 / $45,000)
3Merchants Bank 90 90%8%
  • 202%
  • (211,000 / $104,000)
  • 222%
  • (160,000 / $72,000)
4Us Bank 68 77%11%
  • 232%
  • (58,000 / $25,000)
  • 212%
  • (134,000 / $63,000)
5Bremer Bank Na (Fargo) 67 74%5%
  • 168%
  • (256,000 / $152,000)
  • 381%
  • (233,000 / $61,000)
6Citimortgage 57 80%8%
  • 230%
  • (184,000 / $80,000)
  • 291%
  • (105,000 / $36,000)
7State Bank & Trust 54 88%7%
  • 138%
  • (177,000 / $128,000)
  • 315%
  • (341,000 / $108,000)
8Countrywide Bank Fsb 50 78%14%
  • 203%
  • (157,000 / $77,000)
  • 213%
  • (417,000 / $195,000)
9Genworth Mortgage Insurance Co 37 40%5%
  • 238%
  • (193,000 / $81,000)
  • 274%
  • (140,000 / $51,000)
10Gate City Bank 37 83%5%
  • 116%
  • (190,000 / $163,000)
  • 121%
  • (40,000 / $33,000)
11Affinity Plus Federal Credit U 35 80%0%
  • 173%
  • (52,000 / $30,000)
0
12Mortgage Guaranty Insurance Co 32 78%6%
  • 247%
  • (119,000 / $48,000)
  • 223%
  • (141,000 / $63,000)
13American Federal Bank 32 75%15%
  • 152%
  • (108,000 / $71,000)
  • 310%
  • (152,000 / $49,000)
14Embrace Home Loans, 30 20%43%
  • 320%
  • (96,000 / $30,000)
  • 322%
  • (58,000 / $18,000)
15Bank Of America 29 68%24%
  • 228%
  • (158,000 / $69,000)
  • 203%
  • (130,000 / $64,000)
16Phh Mortgage Corporation 28 89%7%
  • 290%
  • (151,000 / $52,000)
  • 145%
  • (45,000 / $31,000)
17Countrywide Home Loans 27 85%11%
  • 307%
  • (129,000 / $42,000)
  • 520%
  • (125,000 / $24,000)
18Citibank 25 60%24%
  • 99%
  • (100,000 / $101,000)
  • 238%
  • (105,000 / $44,000)
19Us Bank North Dakota 23 17%39%
  • 129%
  • (109,000 / $84,000)
  • 233%
  • (168,000 / $72,000)
20Citifinancial Services Inc 23 30%39%
  • 188%
  • (79,000 / $42,000)
  • 164%
  • (28,000 / $17,000)

Otter Tail, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 1,885
  2. Loan Applications Denied: 327
  3. % of Loan Applications Denied: 17
  4. # of Loan Originations: 1,264
  5. % of Loan Applications Originated 67

Otter Tail, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral14
Debt-to-income ratio10
Credit history6
Credit application incomplete4
Unverifiable information2

Otter Tail, 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 - $100,000600 6319
$100,000 - $300,0001,084 6616
$300,000 - $500,000194 6917
$500,000 - $1,000,0007 850

Otter Tail, 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 - $100,0001,286 6420
$100,000 - $300,000524 7112
$300,000 - $500,00049 858
$500,000 - $1,000,00024 784
$1,000,000 - $1,500,0002 500

Loan to Income Ratios Research for Mortgage in Otter Tail, 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%5472 11
30 - 60%13865 10
60 - 100%18970 15
100 - 200%57371 14
200 - 300%46865 17
300 - 400%25866 17
> 400%20551 30

Otter Tail, 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 Dwelling1,296 6220
Not Owner-Occupied As A Principal Dwelling567 7710
Not Applicable2 050

Home Owner Property Type Statistics in Otter Tail, 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)1,725 6717
One To Four-Family106 663
Manufactured Housing54 5327
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