Top Somerset, MN Mortgage Lenders

RankSomerset Mortgage LenderSomerset Home Loans ProcessedSomerset Home Loans ApprovedSomerset Home Loans DeniedSomerset Mortgage Median Loan to Income Ratio (LTR) for Approved LoansSomerset Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 614 65%15%
  • 188%
  • (119,000 Loan / $63,000 Income)
  • 232%
  • (100,000 Loan / $43,000 Income)
2Jpmorgan Chase Bank 131 88%9%
  • 304%
  • (280,000 / $92,000)
  • 277%
  • (100,000 / $36,000)
3Agstar Financial Services 106 56%12%
  • 253%
  • (307,000 / $121,000)
  • 357%
  • (125,000 / $35,000)
4United Prairie Bank 93 39%34%
  • 102%
  • (40,000 / $39,000)
  • 300%
  • (90,000 / $30,000)
5Countrywide Bank Fsb 85 76%17%
  • 232%
  • (228,000 / $98,000)
  • 285%
  • (220,000 / $77,000)
6Bank Of America 77 64%24%
  • 242%
  • (213,000 / $88,000)
  • 217%
  • (198,000 / $91,000)
7Citimortgage 73 68%10%
  • 236%
  • (199,000 / $84,000)
  • 356%
  • (264,000 / $74,000)
8Us Bank 72 59%23%
  • 255%
  • (222,000 / $87,000)
  • 195%
  • (160,000 / $82,000)
9Wells Federal Bank 59 77%8%
  • 200%
  • (82,000 / $41,000)
  • 263%
  • (87,000 / $33,000)
10First National Bank 46 60%36%
  • 70%
  • (26,000 / $37,000)
  • 73%
  • (14,000 / $19,000)
11Affinity Plus Federal Credit U 45 71%2%
  • 120%
  • (52,000 / $43,000)
  • 155%
  • (112,000 / $72,000)
12Beneficial Company Llc 38 21%78%
  • 214%
  • (161,000 / $75,000)
  • 236%
  • (182,000 / $77,000)
13Wells Fargo Funding 29 96%3%
  • 223%
  • (239,000 / $107,000)
  • 215%
  • (140,000 / $65,000)
14Countrywide Home Loans 29 89%6%
  • 293%
  • (91,000 / $31,000)
  • 520%
  • (250,000 / $48,000)
15Quicken Loans 28 71%25%
  • 315%
  • (249,000 / $79,000)
  • 228%
  • (245,000 / $107,000)
16Citibank 28 50%42%
  • 98%
  • (58,000 / $59,000)
  • 89%
  • (66,000 / $74,000)
17Us Bk Na Nd 26 61%26%
  • 107%
  • (69,000 / $64,000)
  • 243%
  • (129,000 / $53,000)
18Colonial Savings, F. A. 26 34%65%
  • 287%
  • (158,000 / $55,000)
  • 210%
  • (175,000 / $83,000)
19Roundbank 25 88%12%
  • 143%
  • (109,000 / $76,000)
  • 120%
  • (24,000 / $20,000)
20Mortgage Guaranty Insurance Co 25 84%4%
  • 244%
  • (137,000 / $56,000)
  • 351%
  • (151,000 / $43,000)

Somerset, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 2,369
  2. Loan Applications Denied: 454
  3. % of Loan Applications Denied: 19
  4. # of Loan Originations: 1,488
  5. % of Loan Applications Originated 62

Somerset, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral16
Credit history12
Debt-to-income ratio9
Unverifiable information2
Credit application incomplete2

Somerset, 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 - $100,000638 6023
$100,000 - $300,0001,577 6317
$300,000 - $500,000147 5521
$500,000 - $1,000,0007 5742

Somerset, 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 - $100,0001,831 6120
$100,000 - $300,000505 6513
$300,000 - $500,00021 7519
$500,000 - $1,000,0009 3322
$1,000,000 - $1,500,0001 00
> $2,000,0002 500

Loan to Income Ratios Research for Mortgage in Somerset, 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%8158 20
30 - 60%14558 22
60 - 100%16760 22
100 - 200%64668 14
200 - 300%69862 18
300 - 400%35659 20
> 400%27653 27

Somerset, 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 Dwelling2,292 6219
Not Owner-Occupied As A Principal Dwelling75 7016

Home Owner Property Type Statistics in Somerset, 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)2,174 6219
One To Four-Family122 772
Manufactured Housing73 3649
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