Top Prior Lake, MN Mortgage Lenders

RankPrior Lake Mortgage LenderPrior Lake Home Loans ProcessedPrior Lake Home Loans ApprovedPrior Lake Home Loans DeniedPrior Lake Mortgage Median Loan to Income Ratio (LTR) for Approved LoansPrior Lake Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 3,795 72%11%
  • 217%
  • (146,000 Loan / $67,000 Income)
  • 226%
  • (242,000 Loan / $107,000 Income)
2Jpmorgan Chase Bank 959 88%9%
  • 238%
  • (169,000 / $71,000)
  • 205%
  • (228,000 / $111,000)
3Us Bank 746 78%10%
  • 235%
  • (235,000 / $100,000)
  • 241%
  • (256,000 / $106,000)
4Citimortgage 590 84%3%
  • 239%
  • (287,000 / $120,000)
  • 268%
  • (239,000 / $89,000)
5Bank Of America 497 68%19%
  • 248%
  • (124,000 / $50,000)
  • 227%
  • (300,000 / $132,000)
6Wells Fargo Funding 418 99%0%
  • 235%
  • (304,000 / $129,000)
  • 333%
  • (400,000 / $120,000)
7Countrywide Bank Fsb 394 73%10%
  • 223%
  • (346,000 / $155,000)
  • 338%
  • (372,000 / $110,000)
8Citibank 354 74%9%
  • 143%
  • (132,000 / $92,000)
  • 200%
  • (320,000 / $160,000)
9Summit Mortgage Corporation 287 90%1%
  • 243%
  • (399,000 / $164,000)
  • 271%
  • (356,000 / $131,000)
10Us Bk Na Nd 255 52%30%
  • 137%
  • (110,000 / $80,000)
  • 200%
  • (150,000 / $75,000)
11Provident Funding Associates 221 71%15%
  • 243%
  • (234,000 / $96,000)
  • 292%
  • (240,000 / $82,000)
12Countrywide Home Loans 221 86%9%
  • 271%
  • (318,000 / $117,000)
  • 361%
  • (412,000 / $114,000)
13United Guaranty Corporation 208 78%5%
  • 250%
  • (306,000 / $122,000)
  • 204%
  • (329,000 / $161,000)
14Mortgage Guaranty Insurance Co 207 69%10%
  • 286%
  • (195,000 / $68,000)
  • 260%
  • (819,000 / $315,000)
15Bell America Mortgage Llc Dba 205 74%0%
  • 260%
  • (608,000 / $233,000)
  • 308%
  • (244,000 / $79,000)
16Prior Lake State Bank 204 75%14%
  • 170%
  • (150,000 / $88,000)
  • 381%
  • (500,000 / $131,000)
17The Business Bank 201 95%1%
  • 233%
  • (357,000 / $153,000)
  • 468%
  • (136,000 / $29,000)
18Us Bank North Dakota 181 33%40%
  • 176%
  • (30,000 / $17,000)
  • 272%
  • (425,000 / $156,000)
19State Bank & Trust 177 83%1%
  • 245%
  • (285,000 / $116,000)
  • 455%
  • (328,000 / $72,000)
20Phh Home Loans 173 90%1%
  • 291%
  • (210,000 / $72,000)
  • 254%
  • (280,000 / $110,000)

Prior Lake, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 17,077
  2. Loan Applications Denied: 2,313
  3. % of Loan Applications Denied: 13
  4. # of Loan Originations: 12,046
  5. % of Loan Applications Originated 70

Prior Lake, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral13
Debt-to-income ratio10
Credit history6
Credit application incomplete4
Unverifiable information2

Prior Lake, 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 - $100,0001,929 6416
$100,000 - $300,00010,125 7112
$300,000 - $500,0004,345 7212
$500,000 - $1,000,000597 4927
$1,000,000 - $1,500,00073 4435
$1,500,000 - $2,000,0006 5033
> $2,000,0002 5050

Prior Lake, 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 - $100,0008,577 6814
$100,000 - $300,0007,772 7211
$300,000 - $500,000505 6518
$500,000 - $1,000,000161 6021
$1,000,000 - $1,500,00039 6420
$1,500,000 - $2,000,00010 8010
> $2,000,00013 837

Loan to Income Ratios Research for Mortgage in Prior Lake, 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%44558 21
30 - 60%72063 16
60 - 100%1,11466 16
100 - 200%4,29672 11
200 - 300%5,27173 10
300 - 400%3,11671 12
> 400%2,11558 23

Prior Lake, 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 Dwelling16,221 7112
Not Owner-Occupied As A Principal Dwelling794 5924
Not Applicable6 1666

Home Owner Property Type Statistics in Prior Lake, 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)16,179 7013
One To Four-Family895 745
Manufactured Housing3 0100
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