Top Spencer, MN Mortgage Lenders

RankSpencer Mortgage LenderSpencer Home Loans ProcessedSpencer Home Loans ApprovedSpencer Home Loans DeniedSpencer Mortgage Median Loan to Income Ratio (LTR) for Approved LoansSpencer Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 412 68%14%
  • 173%
  • (125,000 Loan / $72,000 Income)
  • 259%
  • (213,000 Loan / $82,000 Income)
2Us Bank 169 81%10%
  • 212%
  • (115,000 / $54,000)
  • 217%
  • (122,000 / $56,000)
3Jpmorgan Chase Bank 144 88%9%
  • 259%
  • (109,000 / $42,000)
  • 140%
  • (328,000 / $234,000)
4Citimortgage 110 77%10%
  • 189%
  • (112,000 / $59,000)
  • 297%
  • (250,000 / $84,000)
5Members Cooperative Credit Uni 91 65%19%
  • 153%
  • (66,000 / $43,000)
  • 301%
  • (199,000 / $66,000)
6Countrywide Bank Fsb 85 60%21%
  • 250%
  • (160,000 / $64,000)
  • 304%
  • (192,000 / $63,000)
7Beneficial Company Llc 70 4%75%
  • 150%
  • (101,000 / $67,000)
  • 227%
  • (139,000 / $61,000)
8Phh Mortgage Corporation 59 79%5%
  • 291%
  • (245,000 / $84,000)
  • 245%
  • (216,000 / $88,000)
9Citibank 55 80%9%
  • 147%
  • (121,000 / $82,000)
  • 45%
  • (25,000 / $55,000)
10Bank Of America 49 83%10%
  • 226%
  • (407,000 / $180,000)
  • 162%
  • (159,000 / $98,000)
11Affinity Plus Federal Credit U 49 59%8%
  • 148%
  • (73,000 / $49,000)
  • 262%
  • (126,000 / $48,000)
12Mortgage Guaranty Insurance Co 46 56%8%
  • 221%
  • (261,000 / $118,000)
  • 252%
  • (86,000 / $34,000)
13Countrywide Home Loans 46 73%10%
  • 290%
  • (116,000 / $40,000)
  • 112%
  • (188,000 / $167,000)
14C.U. Mortgage Services, 34 70%2%
  • 233%
  • (131,000 / $56,000)
  • 470%
  • (113,000 / $24,000)
15Wells Federal Bank 28 67%3%
  • 240%
  • (108,000 / $45,000)
  • 348%
  • (150,000 / $43,000)
16Northview Bank 27 62%22%
  • 163%
  • (351,000 / $215,000)
  • 122%
  • (148,000 / $121,000)
17Us Bk Na Nd 25 40%44%
  • 191%
  • (119,000 / $62,000)
  • 195%
  • (190,000 / $97,000)
18Provident Funding Associates 23 65%30%
  • 264%
  • (151,000 / $57,000)
  • 177%
  • (195,000 / $110,000)
19First National Bank Of Milaca 23 86%8%
  • 113%
  • (34,000 / $30,000)
  • 155%
  • (45,000 / $29,000)
20Agstar Financial Services 23 47%26%
  • 166%
  • (170,000 / $102,000)
  • 312%
  • (125,000 / $40,000)

Spencer, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 2,693
  2. Loan Applications Denied: 500
  3. % of Loan Applications Denied: 18
  4. # of Loan Originations: 1,734
  5. % of Loan Applications Originated 64

Spencer, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral15
Debt-to-income ratio12
Credit history11
Unverifiable information2
Credit application incomplete2

Spencer, 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 - $100,000714 5921
$100,000 - $300,0001,750 6417
$300,000 - $500,000222 6816
$500,000 - $1,000,0005 800
$1,000,000 - $1,500,0002 5050

Spencer, 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 - $100,0001,822 5921
$100,000 - $300,000771 7112
$300,000 - $500,00070 7610
$500,000 - $1,000,00026 723
$1,000,000 - $1,500,0001 0100
$1,500,000 - $2,000,0003 990

Loan to Income Ratios Research for Mortgage in Spencer, 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%7860 26
30 - 60%17062 19
60 - 100%30867 16
100 - 200%80469 14
200 - 300%60364 15
300 - 400%36460 20
> 400%36652 30

Spencer, 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 Dwelling1,744 6020
Not Owner-Occupied As A Principal Dwelling895 7115
Not Applicable3 660

Home Owner Property Type Statistics in Spencer, 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)2,406 6418
Manufactured Housing156 5230
One To Four-Family131 705
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