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| $6,295,214,383,000 in Mortgage Loans Applied for in 2006 from 34,105,441 Applications |
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MINNCO CREDIT UNION
Mortgage Loans and Application Details
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| Mortgage Company Name |
MINNCO CREDIT UNION |
| Address | 235 WEST 1ST AVENUE
CAMBRIDGE, MN 55008 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 125 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $19,418,000 |
| Average Mortgage Loan Amount Applied For | $152,714 |
| Highest Mortgage Loan Amount Applied For | $460,000 |
| Average Applicant Income | $47,428 |
| Highest Applicant Income | $292,000 |
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| Home Improvement |
5 | $407,000 |
$81,000 | $300,000 |
$43,000 | $90,000 |
| Home Purchase |
60 | $8,887,000 |
$148,000 | $250,000 |
$50,000 | $160,000 |
| Refinancing |
66 | $10,752,000 |
$162,000 | $460,000 |
$65,000 | $292,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
1 | $150,000 |
$150,000 | $150,000 |
$27,000 | $27,000 |
| Black or African American |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Hispanic |
3 | $449,000 |
$149,000 | $220,000 |
$67,000 | $103,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
4 | $833,000 |
$208,000 | $300,000 |
$63,000 | $90,000 |
| White |
123 | $18,614,000 |
$151,000 | $460,000 |
$57,000 | $292,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
131 | $20,046,000 |
$153,000 | $460,000 |
$57,000 | $292,000 |
| FHA-insured (Federal Housing Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Application Approved But Not Accepted |
12 | $1,728,000 |
$144,000 | $228,000 |
$70,000 | $146,000 |
| Application Denied By Financial Institution |
17 | $2,233,000 |
$131,000 | $235,000 |
$37,000 | $80,000 |
| Application Withdrawn By Applicant |
37 | $5,913,000 |
$159,000 | $300,000 |
$60,000 | $159,000 |
| File Closed For Incompleteness |
6 | $1,015,000 |
$169,000 | $200,000 |
$37,000 | $54,000 |
| Loan Originated |
59 | $9,157,000 |
$155,000 | $460,000 |
$60,000 | $292,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Denied by Financial Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Collateral |
2 | $210,000 |
$105,000 | $180,000 |
$53,000 | $80,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
2 | $162,000 |
$81,000 | $150,000 |
$37,000 | $45,000 |
| Debt-To-Income Ratio |
1 | $174,000 |
$174,000 | $174,000 |
$10,000 | $10,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $15,000 |
$15,000 | $15,000 |
$30,000 | $30,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for MINNCO CREDIT UNION by:
Metropolitan Area And
County
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