Top Sparta, MN Mortgage Lenders

RankSparta Mortgage LenderSparta Home Loans ProcessedSparta Home Loans ApprovedSparta Home Loans DeniedSparta Mortgage Median Loan to Income Ratio (LTR) for Approved LoansSparta Mortgage Median LTR for Denied Loans
1Kleinbank 331 73%12%
  • 125%
  • (55,000 Loan / $44,000 Income)
  • 186%
  • (95,000 Loan / $51,000 Income)
2Wells Fargo Bank 208 67%19%
  • 170%
  • (70,000 / $41,000)
  • 163%
  • (150,000 / $92,000)
3C.U. Mortgage Services, 127 71%5%
  • 169%
  • (252,000 / $149,000)
  • 164%
  • (92,000 / $56,000)
4Minnwest Mortgage Corporation 108 82%12%
  • 170%
  • (145,000 / $85,000)
  • 180%
  • (141,000 / $78,000)
5Wells Fargo Funding 72 98%1% 0
  • 289%
  • (162,000 / $56,000)
6Bank Of America 69 84%10%
  • 191%
  • (117,000 / $61,000)
  • 144%
  • (71,000 / $49,000)
7Jpmorgan Chase Bank 55 70%27%
  • 162%
  • (83,000 / $51,000)
  • 121%
  • (63,000 / $52,000)
8Mortgage Guaranty Insurance Co 42 73%7%
  • 171%
  • (77,000 / $45,000)
  • 250%
  • (145,000 / $58,000)
9Countrywide Bank Fsb 41 63%21%
  • 169%
  • (56,000 / $33,000)
  • 168%
  • (69,000 / $41,000)
10Genworth Mortgage Insurance Co 40 92%0%
  • 170%
  • (145,000 / $85,000)
0
11Suntrust Mortgage 38 97%0%
  • 238%
  • (136,000 / $57,000)
0
12Us Bank 32 75%9%
  • 156%
  • (149,000 / $95,000)
  • 186%
  • (181,000 / $97,000)
13Citifinancial Services Inc 32 37%46%
  • 172%
  • (133,000 / $77,000)
  • 58%
  • (24,000 / $41,000)
14Beneficial Company Llc 29 6%79%
  • 93%
  • (113,000 / $121,000)
  • 151%
  • (85,000 / $56,000)
15Embrace Home Loans, 28 10%32%
  • 128%
  • (58,000 / $45,000)
  • 147%
  • (59,000 / $40,000)
16Citimortgage 25 88%4%
  • 252%
  • (86,000 / $34,000)
  • 280%
  • (132,000 / $47,000)
17Citibank 25 76%8%
  • 78%
  • (117,000 / $150,000)
  • 105%
  • (55,000 / $52,000)
18Nationwide Advantage Mortgage 22 90%0%
  • 182%
  • (73,000 / $40,000)
0
19Us Bank North Dakota 21 28%52%
  • 169%
  • (71,000 / $42,000)
  • 190%
  • (40,000 / $21,000)
20Gmac Mortgage Llc 21 4%57%
  • 153%
  • (72,000 / $47,000)
  • 188%
  • (96,000 / $51,000)

Sparta, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 1,886
  2. Loan Applications Denied: 329
  3. % of Loan Applications Denied: 17
  4. # of Loan Originations: 1,260
  5. % of Loan Applications Originated 66

Sparta, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral10
Credit history7
Debt-to-income ratio5
Credit application incomplete2
Unverifiable information1

Sparta, 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 - $100,0001,123 6618
$100,000 - $300,000752 6615
$300,000 - $500,00011 4527

Sparta, 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 - $100,0001,631 6418
$100,000 - $300,000245 7510
$300,000 - $500,0004 750
$500,000 - $1,000,0006 4950

Loan to Income Ratios Research for Mortgage in Sparta, 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%11465 17
30 - 60%14267 19
60 - 100%18972 13
100 - 200%77168 17
200 - 300%47168 13
300 - 400%13649 25
> 400%6340 31

Sparta, 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 Dwelling1,835 6617
Not Owner-Occupied As A Principal Dwelling46 6515

Home Owner Property Type Statistics in Sparta, 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)1,707 6518
One To Four-Family155 834
Manufactured Housing24 3345
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