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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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STATE BANK OF TOWER
Mortgage Loans and Application Details
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| Mortgage Company Name |
STATE BANK OF TOWER |
| Address | 415 MAIN ST
TOWER, MN 55790 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 85 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $6,215,000 |
| Average Mortgage Loan Amount Applied For | $76,000 |
| Highest Mortgage Loan Amount Applied For | $416,000 |
| Average Applicant Income | $48,500 |
| Highest Applicant Income | $133,000 |
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| Home Improvement |
13 | $655,000 |
$50,000 | $170,000 |
$70,000 | $133,000 |
| Home Purchase |
30 | $3,062,000 |
$102,000 | $330,000 |
$49,000 | $120,000 |
| Refinancing |
52 | $3,526,000 |
$67,000 | $416,000 |
$47,000 | $107,000 |
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| American Indian or Alaskan Native |
7 | $426,000 |
$60,000 | $235,000 |
$57,000 | $107,000 |
| Asian |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Black or African American |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Hispanic |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
2 | $541,000 |
$270,000 | $416,000 |
$0 | $0 |
| Not Provided |
0 | $0 |
$0 | $0 |
$0 | $0 |
| White |
86 | $6,276,000 |
$72,000 | $330,000 |
$51,000 | $133,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
95 | $7,243,000 |
$76,000 | $416,000 |
$51,000 | $133,000 |
| 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 |
10 | $824,000 |
$82,000 | $154,000 |
$36,000 | $70,000 |
| Application Denied By Financial Institution |
4 | $471,000 |
$117,000 | $239,000 |
$78,000 | $120,000 |
| Application Withdrawn By Applicant |
1 | $60,000 |
$60,000 | $60,000 |
$32,000 | $32,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
78 | $5,626,000 |
$72,000 | $416,000 |
$52,000 | $133,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
1 | $100,000 |
$100,000 | $100,000 |
$37,000 | $37,000 |
| Preapproval Denied by Financial Institution |
1 | $162,000 |
$162,000 | $162,000 |
$43,000 | $43,000 |
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| Collateral |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Debt-To-Income Ratio |
1 | $152,000 |
$152,000 | $152,000 |
$52,000 | $52,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| 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 STATE BANK OF TOWER by:
Metropolitan Area And
County
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