Houston County, MN Mortgage Lenders & HMDA Data, 2023
In 2023, lenders reported 511 mortgage applications in Houston County, MN totaling $83.9 million, down 19% from 2022. The average application was for $164,000, and applicants reported an average income of $103,000. 73% of applications resulted in an originated loan and 10% were denied. The most active lender was Altra Federal Credit Union, with 178 applications, followed by Merchants Bank, National Association and Esb Bank.
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| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 511 |
| Total Mortgage Loan Application Amount | $83,945,000 |
| Average Mortgage Loan Application Amount | $164,000 |
| Highest Mortgage Loan Application Amount | $855,000 |
| Average Applicant Income | $103,000 |
| Highest Applicant Income | $770,000 |
Top Mortgage Lenders in Houston County, MN (2023)
Ranked by the number of mortgage applications each lender reported in Houston County, MN in 2023.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Altra Federal Credit Union Onalaska, WI |
178 | $25,060,000 | $140,000 | $102,000 |
| 2 | Merchants Bank, National Association Winona, MN |
64 | $9,790,000 | $152,000 | $111,000 |
| 3 | Esb Bank Caledonia, MN |
29 | $4,295,000 | $148,000 | $91,000 |
| 4 | Marine Credit Union La Crosse, WI |
20 | $2,000,000 | $100,000 | $82,000 |
| 5 | Home Federal Savings Bank Rochester, MN |
16 | $1,780,000 | $111,000 | $82,000 |
| 6 | US Bank, N.A. Cincinnati, OH |
10 | $2,230,000 | $223,000 | $158,000 |
| 7 | BMO Harris Bank NA Chicago, IL |
10 | $1,530,000 | $153,000 | $92,000 |
| 8 | Wells Fargo Bank NA Minneapolis, MN |
9 | $1,925,000 | $213,000 | $160,000 |
| 9 | Associated Bank NA Green Bay, WI |
8 | $1,200,000 | $150,000 | $75,000 |
| 10 | Mortgage Research Center Columbia, MO |
8 | $2,180,000 | $272,000 | $98,000 |
The tables below break down 2023 mortgage applications in Houston County, MN by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.
Mortgage Loan Application Detail Totals for Houston County, MN in 2023
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase | 262 | $60,290,000 | $230,000 | $855,000 | $104,000 | $770,000 |
| Home Improvement | 77 | $3,295,000 | $42,000 | $155,000 | $95,000 | $254,000 |
| Refinancing | 72 | $7,450,000 | $103,000 | $495,000 | $99,000 | $370,000 |
| Other Purpose | 52 | $4,170,000 | $80,000 | $345,000 | $116,000 | $429,000 |
| Cash-out Refinancing | 48 | $8,740,000 | $182,000 | $405,000 | $99,000 | $503,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 442 | $69,930,000 | $158,000 | $855,000 | $103,000 | $770,000 |
| Not Provided | 41 | $9,225,000 | $225,000 | $535,000 | $97,000 | $250,000 |
| Not applicable | 14 | $2,030,000 | $145,000 | $395,000 | $0 | $0 |
| Asian | 4 | $1,050,000 | $262,000 | $375,000 | $107,000 | $135,000 |
| Hispanic | 4 | $940,000 | $235,000 | $545,000 | $111,000 | $264,000 |
| American Indian or Alaskan Native | 3 | $515,000 | $171,000 | $295,000 | $115,000 | $158,000 |
| Black or African American | 1 | $35,000 | $35,000 | $35,000 | $70,000 | $70,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 464 | $70,940,000 | $152,000 | $695,000 | $104,000 | $770,000 |
| VA-guaranteed (Veterans Administration) | 26 | $8,700,000 | $334,000 | $855,000 | $98,000 | $235,000 |
| FHA-insured (Federal Housing Administration) | 21 | $4,305,000 | $205,000 | $375,000 | $75,000 | $125,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 373 | $58,105,000 | $155,000 | $855,000 | $106,000 | $770,000 |
| Application Withdrawn By Applicant | 62 | $14,890,000 | $240,000 | $855,000 | $114,000 | $503,000 |
| Application Denied By Financial Institution | 50 | $5,990,000 | $119,000 | $395,000 | $69,000 | $280,000 |
| Loan Purchased By The Institution | 13 | $2,805,000 | $215,000 | $465,000 | $87,000 | $164,000 |
| Application Approved But Not Accepted | 8 | $1,260,000 | $157,000 | $375,000 | $95,000 | $193,000 |
| File Closed For Incompleteness | 5 | $895,000 | $179,000 | $365,000 | $88,000 | $163,000 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 418 | $71,190,000 | $170,000 | $855,000 | $107,000 | $770,000 |
| Debt-To-Income Ratio | 61 | $9,195,000 | $150,000 | $495,000 | $87,000 | $323,000 |
| Credit History | 11 | $1,195,000 | $108,000 | $245,000 | $87,000 | $158,000 |
| Other | 9 | $895,000 | $99,000 | $255,000 | $70,000 | $173,000 |
| Collateral | 4 | $370,000 | $92,000 | $175,000 | $120,000 | $280,000 |
| Unverifiable Information | 3 | $425,000 | $141,000 | $375,000 | $64,000 | $87,000 |
| Employment History | 2 | $120,000 | $60,000 | $105,000 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $160,000 | $80,000 | $155,000 | $44,000 | $47,000 |
| Credit Application Incomplete | 1 | $395,000 | $395,000 | $395,000 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) loan application records that lenders file with the FFIEC each year, and count every application (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
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