Top Wellington, MN Mortgage Lenders

RankWellington Mortgage LenderWellington Home Loans ProcessedWellington Home Loans ApprovedWellington Home Loans DeniedWellington Mortgage Median Loan to Income Ratio (LTR) for Approved LoansWellington Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 46 56%21%
  • 161%
  • (89,000 Loan / $55,000 Income)
  • 217%
  • (87,000 Loan / $40,000 Income)
2Citimortgage 17 76%0%
  • 297%
  • (104,000 / $35,000)
0
3Hometown Bank 16 50%37%
  • 176%
  • (145,000 / $82,000)
  • 205%
  • (82,000 / $40,000)
4Valley Bank 13 100%0%
  • 80%
  • (75,000 / $93,000)
0
5Minnwest Bank Mv 11 72%9%
  • 66%
  • (28,000 / $42,000)
  • 22%
  • (8,000 / $36,000)
6Jpmorgan Chase Bank 11 72%27%
  • 600%
  • (48,000 / $8,000)
  • 137%
  • (80,000 / $58,000)
7Frandsen Bank & Trust 9 77%22%
  • 100%
  • (150,000 / $149,000)
  • 105%
  • (77,000 / $73,000)
8Embrace Home Loans, 9 11%44%
  • 162%
  • (70,000 / $43,000)
  • 216%
  • (182,000 / $84,000)
9Cornerstone Mortgage Company 9 77%0%
  • 277%
  • (50,000 / $18,000)
0
10Wells Federal Bank 8 37%25%
  • 110%
  • (84,000 / $76,000)
  • 390%
  • (39,000 / $10,000)
11Nationstar Mortgage Llc 8 0%12% 0
  • 381%
  • (103,000 / $27,000)
12Hfc Company Llc 8 0%75% 0
  • 170%
  • (68,000 / $40,000)
13First Suburban National Bank 8 12%50%
  • 188%
  • (143,000 / $76,000)
  • 185%
  • (52,000 / $28,000)
14Countrywide Bank Fsb 8 50%25%
  • 254%
  • (145,000 / $57,000)
  • 290%
  • (128,000 / $44,000)
15Beneficial Company Llc 8 25%62%
  • 235%
  • (66,000 / $28,000)
  • 150%
  • (86,000 / $57,000)
16Countrywide Home Loans 7 71%28%
  • 481%
  • (130,000 / $27,000)
  • 271%
  • (76,000 / $28,000)
17Bank Of America 7 71%0%
  • 429%
  • (249,000 / $58,000)
0
18Republic Mortgage Insurance Co 6 83%0%
  • 253%
  • (76,000 / $30,000)
0
19National City Bank 6 83%16%
  • 140%
  • (86,000 / $61,000)
  • 435%
  • (74,000 / $17,000)
20Minnwest Mortgage Corporation 6 66%0%
  • 243%
  • (73,000 / $30,000)
0

Wellington, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 396
  2. Loan Applications Denied: 87
  3. % of Loan Applications Denied: 21
  4. # of Loan Originations: 226
  5. % of Loan Applications Originated 57

Wellington, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral17
Credit history12
Credit application incomplete5
Debt-to-income ratio2
Insufficient cash (downpayment, closing costs)1

Wellington, 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 - $100,000245 5625
$100,000 - $300,000150 5816
$500,000 - $1,000,0001 1000

Wellington, 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 - $100,000373 5522
$100,000 - $300,00021 709
$300,000 - $500,0001 1000
$500,000 - $1,000,0001 1000

Loan to Income Ratios Research for Mortgage in Wellington, 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%1225 66
30 - 60%3472 17
60 - 100%6063 16
100 - 200%11954 20
200 - 300%11253 23
300 - 400%3357 21
> 400%2660 23

Wellington, 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 Dwelling377 5522
Not Owner-Occupied As A Principal Dwelling15 8613
Not Applicable1 1000

Home Owner Property Type Statistics in Wellington, 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)368 5523
One To Four-Family26 760
Manufactured Housing2 5050
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