|
| Location |
Wadena County MN
• Apply Here |
| Year | 2008 |
| Data Years (click a year for detail) | 2003 2004 2005 2006 2007 2008 |
| Total Number of Mortgage Applications | 444 |
| Total Amount of All Mortgage Loans Applied For | $49,041,000 |
| Average Mortgage Loan Amount Applied For | $110,000 |
| Highest Mortgage Loan Amount Applied For | $1,300,000 |
| Average Applicant Income | $57,000 |
| Highest Applicant Income | $904,000 |
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| Home Improvement |
44 | $3,966,000 |
$90,000 | $1,300,000 |
$51,000 | $157,000 |
| Home Purchase |
114 | $10,955,000 |
$96,000 | $330,000 |
$50,000 | $182,000 |
| Refinancing |
286 | $34,120,000 |
$119,000 | $353,000 |
$61,000 | $904,000 |
|
| American Indian or Alaskan Native |
1 | $70,000 |
$70,000 | $70,000 |
$27,000 | $27,000 |
| Asian |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Black or African American |
1 | $91,000 |
$91,000 | $91,000 |
$28,000 | $28,000 |
| Hispanic |
1 | $59,000 |
$59,000 | $59,000 |
$182,000 | $182,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
18 | $2,446,000 |
$135,000 | $353,000 |
$36,000 | $102,000 |
| Not Provided |
35 | $4,904,000 |
$140,000 | $1,300,000 |
$42,000 | $92,000 |
| White |
388 | $41,471,000 |
$106,000 | $330,000 |
$59,000 | $904,000 |
|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
336 | $37,564,000 |
$111,000 | $1,300,000 |
$62,000 | $904,000 |
| FHA-insured (Federal Housing Administration) |
78 | $8,977,000 |
$115,000 | $245,000 |
$48,000 | $106,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
26 | $1,963,000 |
$75,000 | $132,000 |
$30,000 | $52,000 |
| VA-guaranteed (Veterans Administration) |
4 | $537,000 |
$134,000 | $179,000 |
$52,000 | $89,000 |
|
| Application Approved But Not Accepted |
20 | $2,299,000 |
$114,000 | $240,000 |
$62,000 | $230,000 |
| Application Denied By Financial Institution |
128 | $14,767,000 |
$115,000 | $1,300,000 |
$59,000 | $744,000 |
| Application Withdrawn By Applicant |
50 | $5,802,000 |
$116,000 | $330,000 |
$66,000 | $904,000 |
| File Closed For Incompleteness |
9 | $687,000 |
$76,000 | $146,000 |
$42,000 | $67,000 |
| Loan Originated |
191 | $19,480,000 |
$101,000 | $328,000 |
$58,000 | $353,000 |
| Loan Purchased By The Institution |
46 | $6,006,000 |
$130,000 | $353,000 |
$41,000 | $107,000 |
| Preapproval Approved but not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Denied by Financial Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
|
| Collateral |
22 | $2,582,000 |
$117,000 | $198,000 |
$60,000 | $142,000 |
| Credit Application Incomplete |
8 | $778,000 |
$97,000 | $232,000 |
$58,000 | $90,000 |
| Credit History |
19 | $1,783,000 |
$93,000 | $240,000 |
$86,000 | $360,000 |
| Debt-To-Income Ratio |
15 | $1,483,000 |
$98,000 | $233,000 |
$37,000 | $78,000 |
| Employment History |
3 | $256,000 |
$85,000 | $211,000 |
$39,000 | $51,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $178,000 |
$178,000 | $178,000 |
$76,000 | $76,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
5 | $525,000 |
$105,000 | $123,000 |
$71,000 | $189,000 |
| Unverifiable Information |
3 | $1,527,000 |
$509,000 | $1,300,000 |
$33,000 | $57,000 |
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