Top Salo, MN Mortgage Lenders

RankSalo Mortgage LenderSalo Home Loans ProcessedSalo Home Loans ApprovedSalo Home Loans DeniedSalo Mortgage Median Loan to Income Ratio (LTR) for Approved LoansSalo Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 102 58%20%
  • 171%
  • (332,000 Loan / $194,000 Income)
  • 174%
  • (87,000 Loan / $50,000 Income)
2Northview Bank 48 58%27%
  • 179%
  • (52,000 / $29,000)
  • 223%
  • (58,000 / $26,000)
3Us Bank 46 80%10%
  • 147%
  • (81,000 / $55,000)
  • 296%
  • (273,000 / $92,000)
4Countrywide Bank Fsb 42 80%14%
  • 228%
  • (240,000 / $105,000)
  • 244%
  • (132,000 / $54,000)
5Citimortgage 26 61%7%
  • 295%
  • (71,000 / $24,000)
  • 212%
  • (210,000 / $99,000)
6Members Cooperative Credit Uni 25 76%8%
  • 172%
  • (150,000 / $87,000)
  • 414%
  • (195,000 / $47,000)
7Jpmorgan Chase Bank 20 80%20%
  • 272%
  • (210,000 / $77,000)
  • 312%
  • (156,000 / $50,000)
8Phh Mortgage Corporation 19 73%5%
  • 248%
  • (87,000 / $35,000)
  • 411%
  • (144,000 / $35,000)
9Mortgage Guaranty Insurance Co 18 44%11%
  • 212%
  • (119,000 / $56,000)
  • 220%
  • (218,000 / $99,000)
10Bank Of America 18 61%33%
  • 281%
  • (180,000 / $64,000)
  • 258%
  • (240,000 / $93,000)
11Countrywide Home Loans 16 93%0%
  • 478%
  • (153,000 / $32,000)
0
12Affinity Plus Federal Credit U 14 64%14%
  • 75%
  • (40,000 / $53,000)
  • 139%
  • (57,000 / $41,000)
13Beneficial Company Llc 13 0%61% 0
  • 207%
  • (189,000 / $91,000)
14Us Bank North Dakota 12 16%50%
  • 128%
  • (100,000 / $78,000)
  • 225%
  • (463,000 / $205,000)
15Citibank 10 70%10%
  • 218%
  • (131,000 / $60,000)
  • 115%
  • (60,000 / $52,000)
16Ally Bank F/K/A/ Gmac Bank 10 50%50%
  • 268%
  • (405,000 / $151,000)
  • 118%
  • (150,000 / $127,000)
17Genworth Mortgage Insurance Co 8 62%0%
  • 220%
  • (218,000 / $99,000)
0
18Embrace Home Loans, 8 25%37%
  • 326%
  • (297,000 / $91,000)
  • 533%
  • (128,000 / $24,000)
19C.U. Mortgage Services, 8 62%12%
  • 133%
  • (210,000 / $157,000)
  • 210%
  • (40,000 / $19,000)
20Wells Fargo Fin'l Minnesota 7 14%42%
  • 158%
  • (89,000 / $56,000)
  • 520%
  • (125,000 / $24,000)

Salo, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 812
  2. Loan Applications Denied: 172
  3. % of Loan Applications Denied: 21
  4. # of Loan Originations: 490
  5. % of Loan Applications Originated 60

Salo, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral15
Debt-to-income ratio10
Credit history10
Unverifiable information3
Credit application incomplete2

Salo, 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 - $100,000235 6025
$100,000 - $300,000494 6019
$300,000 - $500,00078 5220
$500,000 - $1,000,0005 800

Salo, 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 - $100,000524 5426
$100,000 - $300,000262 6910
$300,000 - $500,00014 5042
$500,000 - $1,000,00010 8010
$1,000,000 - $1,500,0001 1000
$1,500,000 - $2,000,0001 1000

Loan to Income Ratios Research for Mortgage in Salo, 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%2070 30
30 - 60%4664 19
60 - 100%11258 20
100 - 200%26668 13
200 - 300%15861 20
300 - 400%8755 21
> 400%12340 36

Salo, 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 Dwelling463 5426
Not Owner-Occupied As A Principal Dwelling327 6814
Not Applicable2 500

Home Owner Property Type Statistics in Salo, 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)731 6022
One To Four-Family47 636
Manufactured Housing34 5023
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