Top Red Lake Falls, MN Mortgage Lenders

RankRed Lake Falls Mortgage LenderRed Lake Falls Home Loans ProcessedRed Lake Falls Home Loans ApprovedRed Lake Falls Home Loans DeniedRed Lake Falls Mortgage Median Loan to Income Ratio (LTR) for Approved LoansRed Lake Falls Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 487 70%12%
  • 190%
  • (145,000 Loan / $76,000 Income)
  • 200%
  • (6,000 Loan / $3,000 Income)
2Liberty Savings Bank Fsb 263 93%4%
  • 224%
  • (146,000 / $65,000)
  • 335%
  • (352,000 / $105,000)
3Unity Bank North 152 96%1%
  • 78%
  • (15,000 / $19,000)
  • 75%
  • (12,000 / $16,000)
4Bremer Bank Na (St Cloud) 142 85%2%
  • 209%
  • (300,000 / $143,000)
  • 154%
  • (105,000 / $68,000)
5Jpmorgan Chase Bank 135 90%7%
  • 244%
  • (193,000 / $79,000)
  • 288%
  • (176,000 / $61,000)
6Us Bank 121 79%9%
  • 207%
  • (265,000 / $128,000)
  • 303%
  • (97,000 / $32,000)
7Citimortgage 97 85%5%
  • 178%
  • (116,000 / $65,000)
  • 268%
  • (169,000 / $63,000)
8Affinity Plus Federal Credit U 74 68%1%
  • 131%
  • (138,000 / $105,000)
  • 6%
  • (9,000 / $134,000)
9Phh Mortgage Corporation 72 91%0%
  • 187%
  • (139,000 / $74,000)
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10Bank Of America 67 88%5%
  • 226%
  • (152,000 / $67,000)
  • 354%
  • (39,000 / $11,000)
11Mortgage Guaranty Insurance Co 51 70%7%
  • 285%
  • (140,000 / $49,000)
  • 253%
  • (264,000 / $104,000)
12North Shore Bank Of Commerce 49 77%18%
  • 236%
  • (116,000 / $49,000)
  • 270%
  • (168,000 / $62,000)
13Countrywide Bank Fsb 49 79%6%
  • 152%
  • (139,000 / $91,000)
  • 392%
  • (161,000 / $41,000)
14Bankvista 48 91%8%
  • 240%
  • (200,000 / $83,000)
  • 353%
  • (226,000 / $64,000)
15Avon State Bank 48 89%10%
  • 110%
  • (76,000 / $69,000)
  • 301%
  • (208,000 / $69,000)
16Suntrust Mortgage 47 93%6%
  • 242%
  • (396,000 / $163,000)
  • 324%
  • (240,000 / $74,000)
17Citibank 47 57%19%
  • 170%
  • (213,000 / $125,000)
  • 48%
  • (52,000 / $107,000)
18Embrace Home Loans, 45 2%46%
  • 253%
  • (162,000 / $64,000)
  • 286%
  • (209,000 / $73,000)
19Central Minnesota Cu 36 69%13%
  • 176%
  • (157,000 / $89,000)
  • 131%
  • (79,000 / $60,000)
20Wells Fargo Funding 33 100%0%
  • 283%
  • (153,000 / $54,000)
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Red Lake Falls, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 3,203
  2. Loan Applications Denied: 373
  3. % of Loan Applications Denied: 11
  4. # of Loan Originations: 2,403
  5. % of Loan Applications Originated 75

Red Lake Falls, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral11
Debt-to-income ratio8
Credit history8
Credit application incomplete3
Unverifiable information2

Red Lake Falls, 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 - $100,000970 7312
$100,000 - $300,0002,044 7411
$300,000 - $500,000172 7315
$500,000 - $1,000,00017 755

Red Lake Falls, 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 - $100,0002,510 7312
$100,000 - $300,000642 788
$300,000 - $500,00029 883
$500,000 - $1,000,00016 8118
$1,000,000 - $1,500,0003 6633
$1,500,000 - $2,000,0001 1000
> $2,000,0002 500

Loan to Income Ratios Research for Mortgage in Red Lake Falls, 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%13175 9
30 - 60%19080 8
60 - 100%28773 13
100 - 200%91677 8
200 - 300%91975 10
300 - 400%49971 13
> 400%26162 22

Red Lake Falls, 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 Dwelling3,110 7511
Not Owner-Occupied As A Principal Dwelling82 7612
Not Applicable6 6633

Home Owner Property Type Statistics in Red Lake Falls, 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)2,972 7411
One To Four-Family163 764
Manufactured Housing68 7514
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