Top Tower, MN Mortgage Lenders

RankTower Mortgage LenderTower Home Loans ProcessedTower Home Loans ApprovedTower Home Loans DeniedTower Mortgage Median Loan to Income Ratio (LTR) for Approved LoansTower Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 239 61%18%
  • 160%
  • (90,000 Loan / $56,000 Income)
  • 129%
  • (258,000 Loan / $200,000 Income)
2Us Bank 66 68%21%
  • 233%
  • (133,000 / $57,000)
  • 239%
  • (170,000 / $71,000)
3Frandsen Bank & Trust 64 82%7%
  • 161%
  • (89,000 / $55,000)
  • 158%
  • (65,000 / $41,000)
4Queen City Federal Savings Ban 59 88%6%
  • 194%
  • (76,000 / $39,000)
  • 227%
  • (100,000 / $44,000)
5American Bank Of The North 59 64%23%
  • 126%
  • (232,000 / $183,000)
  • 289%
  • (188,000 / $65,000)
6Northview Bank 55 67%20%
  • 186%
  • (274,000 / $147,000)
  • 235%
  • (125,000 / $53,000)
7Jpmorgan Chase Bank 54 81%12%
  • 233%
  • (124,000 / $53,000)
  • 123%
  • (80,000 / $65,000)
8Bank Of America 46 54%17%
  • 201%
  • (189,000 / $94,000)
  • 262%
  • (160,000 / $61,000)
9Bell America Mortgage Llc Dba 41 60%0%
  • 250%
  • (80,000 / $32,000)
0
10Affinity Plus Federal Credit U 38 63%2%
  • 120%
  • (82,000 / $68,000)
  • 278%
  • (198,000 / $71,000)
11Us Bank North Dakota 32 31%46%
  • 206%
  • (60,000 / $29,000)
  • 250%
  • (125,000 / $50,000)
12Us Bk Na Nd 31 38%45%
  • 211%
  • (150,000 / $71,000)
  • 148%
  • (113,000 / $76,000)
13State Bank Of Tower 29 62%10%
  • 141%
  • (34,000 / $24,000)
  • 66%
  • (26,000 / $39,000)
14Boundary Waters Bank 29 41%41%
  • 82%
  • (220,000 / $267,000)
  • 294%
  • (165,000 / $56,000)
15Countrywide Bank Fsb 26 73%15%
  • 195%
  • (234,000 / $120,000)
  • 393%
  • (417,000 / $106,000)
16Citimortgage 26 73%19%
  • 69%
  • (187,000 / $268,000)
  • 333%
  • (120,000 / $36,000)
17Freedom Mortgage Corp. 22 72%9%
  • 278%
  • (114,000 / $41,000)
  • 570%
  • (137,000 / $24,000)
18National City Bank 18 72%11%
  • 253%
  • (165,000 / $65,000)
  • 620%
  • (155,000 / $25,000)
19Flagstar Bank 18 66%11%
  • 283%
  • (349,000 / $123,000)
  • 924%
  • (490,000 / $53,000)
20Countrywide Home Loans 18 77%22%
  • 256%
  • (118,000 / $46,000)
  • 306%
  • (368,000 / $120,000)

Tower, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 1,464
  2. Loan Applications Denied: 298
  3. % of Loan Applications Denied: 20
  4. # of Loan Originations: 903
  5. % of Loan Applications Originated 61

Tower, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral20
Debt-to-income ratio19
Credit history11
Credit application incomplete5
Unverifiable information4

Tower, 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 - $100,000445 6024
$100,000 - $300,000798 6317
$300,000 - $500,000182 5921
$500,000 - $1,000,00033 3633
$1,000,000 - $1,500,0003 3366
> $2,000,0003 033

Tower, 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 - $100,000915 5921
$100,000 - $300,000453 6417
$300,000 - $500,00043 5530
$500,000 - $1,000,00043 6216
$1,000,000 - $1,500,0003 3333
$1,500,000 - $2,000,0003 660
> $2,000,0004 5025

Loan to Income Ratios Research for Mortgage in Tower, 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%5262 25
30 - 60%8867 20
60 - 100%20458 20
100 - 200%43565 18
200 - 300%32364 18
300 - 400%18154 20
> 400%18148 27

Tower, 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 Dwelling952 6020
Not Owner-Occupied As A Principal Dwelling501 6319

Home Owner Property Type Statistics in Tower, 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)1,405 6120
One To Four-Family36 758
Manufactured Housing23 5234
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