Top Watertown, MN Mortgage Lenders

RankWatertown Mortgage LenderWatertown Home Loans ProcessedWatertown Home Loans ApprovedWatertown Home Loans DeniedWatertown Mortgage Median Loan to Income Ratio (LTR) for Approved LoansWatertown Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 401 65%16%
  • 223%
  • (87,000 Loan / $39,000 Income)
  • 185%
  • (208,000 Loan / $112,000 Income)
2Jpmorgan Chase Bank 147 92%4%
  • 248%
  • (72,000 / $29,000)
  • 155%
  • (352,000 / $226,000)
3Bremer Bank Na (Twin Cities) 91 76%6%
  • 146%
  • (44,000 / $30,000)
  • 225%
  • (45,000 / $20,000)
4Kleinbank 81 66%16%
  • 286%
  • (198,000 / $69,000)
  • 181%
  • (78,000 / $43,000)
5Citimortgage 76 85%3%
  • 249%
  • (162,000 / $65,000)
  • 339%
  • (214,000 / $63,000)
6The Business Bank 74 89%9%
  • 270%
  • (168,000 / $62,000)
  • 270%
  • (111,000 / $41,000)
7Us Bank 70 64%28%
  • 242%
  • (172,000 / $71,000)
  • 213%
  • (184,000 / $86,000)
8Citibank 69 72%13%
  • 147%
  • (124,000 / $84,000)
  • 111%
  • (60,000 / $54,000)
9Bank Of America 62 74%20%
  • 231%
  • (299,000 / $129,000)
  • 252%
  • (182,000 / $72,000)
10Wells Fargo Funding 51 98%1%
  • 290%
  • (125,000 / $43,000)
  • 128%
  • (268,000 / $209,000)
11Countrywide Bank Fsb 36 77%13%
  • 232%
  • (202,000 / $87,000)
  • 430%
  • (396,000 / $92,000)
12Mortgage Guaranty Insurance Co 32 71%6%
  • 266%
  • (216,000 / $81,000)
  • 229%
  • (108,000 / $47,000)
13Phh Home Loans 30 80%6%
  • 242%
  • (417,000 / $172,000)
  • 312%
  • (181,000 / $58,000)
14Bell America Mortgage Llc Dba 29 62%0%
  • 323%
  • (217,000 / $67,000)
0
15Quicken Loans 27 70%25%
  • 319%
  • (217,000 / $68,000)
  • 282%
  • (215,000 / $76,000)
16Hfc Company Llc 27 7%85%
  • 222%
  • (191,000 / $86,000)
  • 260%
  • (412,000 / $158,000)
17Tcf National Bank 25 36%44%
  • 252%
  • (187,000 / $74,000)
  • 289%
  • (200,000 / $69,000)
18Beneficial Company Llc 25 4%76%
  • 12%
  • (8,000 / $64,000)
  • 226%
  • (211,000 / $93,000)
19United Guaranty Corporation 24 66%12%
  • 235%
  • (212,000 / $90,000)
  • 311%
  • (109,000 / $35,000)
20Countrywide Home Loans 22 86%4%
  • 221%
  • (252,000 / $114,000)
  • 227%
  • (180,000 / $79,000)

Watertown, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 2,275
  2. Loan Applications Denied: 378
  3. % of Loan Applications Denied: 16
  4. # of Loan Originations: 1,512
  5. % of Loan Applications Originated 66

Watertown, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral16
Debt-to-income ratio8
Credit history8
Credit application incomplete2
Unverifiable information1

Watertown, 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 - $100,000484 6220
$100,000 - $300,0001,621 6714
$300,000 - $500,000148 6019
$500,000 - $1,000,00015 4046
$1,000,000 - $1,500,0001 1000
$1,500,000 - $2,000,0004 2550
> $2,000,0002 5050

Watertown, 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 - $100,0001,718 6715
$100,000 - $300,000524 6318
$300,000 - $500,00019 6331
$500,000 - $1,000,00011 270
$1,000,000 - $1,500,0001 00
> $2,000,0002 5050

Loan to Income Ratios Research for Mortgage in Watertown, 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%7454 22
30 - 60%11265 14
60 - 100%16462 21
100 - 200%57067 17
200 - 300%65366 15
300 - 400%44067 15
> 400%26261 15

Watertown, 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 Dwelling2,192 6616
Not Owner-Occupied As A Principal Dwelling78 7414

Home Owner Property Type Statistics in Watertown, 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)2,103 6616
One To Four-Family118 756
Manufactured Housing54 3550
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