Top Summit, MN Mortgage Lenders

RankSummit Mortgage LenderSummit Home Loans ProcessedSummit Home Loans ApprovedSummit Home Loans DeniedSummit Mortgage Median Loan to Income Ratio (LTR) for Approved LoansSummit Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 188 62%20%
  • 181%
  • (87,000 Loan / $48,000 Income)
  • 188%
  • (100,000 Loan / $53,000 Income)
2Jpmorgan Chase Bank 67 86%13%
  • 213%
  • (92,000 / $43,000)
  • 230%
  • (210,000 / $91,000)
3Agstar Financial Services 42 54%2%
  • 118%
  • (160,000 / $135,000)
  • 451%
  • (384,000 / $85,000)
4Us Bank 36 61%22%
  • 227%
  • (109,000 / $48,000)
  • 239%
  • (182,000 / $76,000)
5Us Bank North Dakota 34 20%61%
  • 142%
  • (110,000 / $77,000)
  • 88%
  • (54,000 / $61,000)
6Bank Of America 31 74%16%
  • 248%
  • (72,000 / $29,000)
  • 220%
  • (141,000 / $64,000)
7Countrywide Bank Fsb 30 76%16%
  • 209%
  • (136,000 / $65,000)
  • 290%
  • (64,000 / $22,000)
8Beneficial Company Llc 27 3%96%
  • 63%
  • (36,000 / $57,000)
  • 314%
  • (170,000 / $54,000)
9Countrywide Home Loans 22 68%18%
  • 202%
  • (87,000 / $43,000)
  • 239%
  • (98,000 / $41,000)
10Embrace Home Loans, 21 4%61%
  • 203%
  • (124,000 / $61,000)
  • 311%
  • (112,000 / $36,000)
11United Prairie Bank 20 50%20%
  • 277%
  • (50,000 / $18,000)
  • 165%
  • (231,000 / $140,000)
12Genworth Mortgage Insurance Co 20 45%0%
  • 181%
  • (87,000 / $48,000)
0
13Citifinancial Services Inc 18 22%50%
  • 219%
  • (68,000 / $31,000)
  • 283%
  • (88,000 / $31,000)
14Us Bk Na Nd 17 41%47%
  • 65%
  • (52,000 / $79,000)
  • 89%
  • (25,000 / $28,000)
15Mortgage Guaranty Insurance Co 17 94%0%
  • 271%
  • (198,000 / $73,000)
0
16Quicken Loans 12 66%33%
  • 166%
  • (120,000 / $72,000)
  • 272%
  • (204,000 / $75,000)
17Envoy Mortgage, Ltd. 11 72%0%
  • 253%
  • (231,000 / $91,000)
0
18Affinity Plus Federal Credit U 11 72%0%
  • 84%
  • (76,000 / $90,000)
0
19Wells Federal Bank 10 60%30%
  • 167%
  • (57,000 / $34,000)
  • 247%
  • (220,000 / $89,000)
20Wells Fargo Funding 10 100%0% 0 0

Summit, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 986
  2. Loan Applications Denied: 246
  3. % of Loan Applications Denied: 24
  4. # of Loan Originations: 558
  5. % of Loan Applications Originated 56

Summit, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral13
Credit history13
Debt-to-income ratio7
Credit application incomplete3
Unverifiable information1

Summit, 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 - $100,000451 5526
$100,000 - $300,000513 5723
$300,000 - $500,00020 4020
$500,000 - $1,000,0002 00

Summit, 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 - $100,000864 5526
$100,000 - $300,000110 6015
$300,000 - $500,0004 2525
$500,000 - $1,000,0005 600
$1,000,000 - $1,500,0002 500
$1,500,000 - $2,000,0001 1000

Loan to Income Ratios Research for Mortgage in Summit, 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%4544 28
30 - 60%5353 30
60 - 100%8153 25
100 - 200%28361 17
200 - 300%29760 22
300 - 400%15051 34
> 400%7743 33

Summit, 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 Dwelling949 5625
Not Owner-Occupied As A Principal Dwelling35 6514
Not Applicable2 1000

Home Owner Property Type Statistics in Summit, 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)911 5526
One To Four-Family70 740
Manufactured Housing5 6020
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