Lake County, MN Mortgage Lenders & HMDA Data, 2017
In 2017, lenders reported 349 mortgage applications in Lake County, MN totaling $58.1 million, down 21% from 2016. The average application was for $166,000, and applicants reported an average income of $80,000. 59% of applications resulted in an originated loan and 11% were denied. The most active lender was Guild Mortgage Company, with 49 applications, followed by Wells Fargo Bank NA and US Bank, N.A..
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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 | 349 |
| Total Mortgage Loan Application Amount | $58,071,000 |
| Average Mortgage Loan Application Amount | $166,000 |
| Highest Mortgage Loan Application Amount | $780,000 |
| Average Applicant Income | $80,000 |
| Highest Applicant Income | $1,489,000 |
Top Mortgage Lenders in Lake County, MN (2017)
Ranked by the number of mortgage applications each lender reported in Lake County, MN in 2017.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Guild Mortgage Company San Diego, CA |
49 | $9,053,000 | $184,000 | $70,000 |
| 2 | Wells Fargo Bank NA Minneapolis, MN |
30 | $5,213,000 | $173,000 | $77,000 |
| 3 | US Bank, N.A. Cincinnati, OH |
28 | $4,694,000 | $167,000 | $84,000 |
| 4 | Servion New Brighton, MN |
18 | $2,515,000 | $139,000 | $44,000 |
| 5 | Marketplace Home Mortgage, LLC Edina, MN |
14 | $2,999,000 | $214,000 | $96,000 |
| 6 | Frandsen Bank & Trust Lonsdale, MN |
10 | $2,167,000 | $216,000 | $129,000 |
| 7 | National Bank of Commerce Superior, WI |
10 | $1,715,000 | $171,000 | $70,000 |
| 8 | Affinity Plus Federal Credit Union Saint Paul, MN |
9 | $704,000 | $78,000 | $72,000 |
| 9 | Freedom Mortgage Corporation Boca Raton, FL |
9 | $1,208,000 | $134,000 | $9,000 |
| 10 | North Shore Bank of Commerce Duluth, MN |
8 | $1,219,000 | $152,000 | $97,000 |
The tables below break down 2017 mortgage applications in Lake 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 Lake County, MN in 2017
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 | 180 | $30,800,000 | $171,000 | $720,000 | $83,000 | $464,000 |
| Refinancing | 148 | $25,809,000 | $174,000 | $780,000 | $79,000 | $1,489,000 |
| Home Improvement | 21 | $1,462,000 | $69,000 | $220,000 | $71,000 | $122,000 |
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 | 277 | $46,402,000 | $167,000 | $705,000 | $88,000 | $1,489,000 |
| Not applicable | 35 | $6,732,000 | $192,000 | $780,000 | $18,000 | $464,000 |
| Not Provided | 31 | $4,213,000 | $135,000 | $365,000 | $83,000 | $357,000 |
| American Indian or Alaskan Native | 3 | $320,000 | $106,000 | $183,000 | $76,000 | $153,000 |
| Hispanic | 3 | $404,000 | $134,000 | $185,000 | $59,000 | $85,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 259 | $44,869,000 | $173,000 | $780,000 | $95,000 | $1,489,000 |
| VA-guaranteed (Veterans Administration) | 33 | $6,222,000 | $188,000 | $400,000 | $54,000 | $193,000 |
| FHA-insured (Federal Housing Administration) | 32 | $4,120,000 | $128,000 | $371,000 | $34,000 | $153,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 25 | $2,860,000 | $114,000 | $182,000 | $29,000 | $75,000 |
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 | 205 | $36,088,000 | $176,000 | $780,000 | $90,000 | $1,489,000 |
| Application Withdrawn By Applicant | 39 | $6,589,000 | $168,000 | $705,000 | $68,000 | $357,000 |
| Application Denied By Financial Institution | 38 | $4,901,000 | $128,000 | $415,000 | $72,000 | $378,000 |
| Loan Purchased By The Institution | 38 | $6,027,000 | $158,000 | $399,000 | $38,000 | $464,000 |
| Application Approved But Not Accepted | 16 | $2,218,000 | $138,000 | $221,000 | $100,000 | $350,000 |
| File Closed For Incompleteness | 13 | $2,248,000 | $172,000 | $417,000 | $89,000 | $520,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 11 | $1,644,000 | $149,000 | $273,000 | $67,000 | $120,000 |
| Credit History | 7 | $354,000 | $50,000 | $72,000 | $57,000 | $119,000 |
| Credit Application Incomplete | 6 | $736,000 | $122,000 | $197,000 | $47,000 | $77,000 |
| Debt-To-Income Ratio | 5 | $543,000 | $108,000 | $195,000 | $49,000 | $140,000 |
| Employment History | 2 | $350,000 | $175,000 | $220,000 | $92,000 | $147,000 |
| Other | 1 | $180,000 | $180,000 | $180,000 | $124,000 | $124,000 |
| Unverifiable Information | 1 | $415,000 | $415,000 | $415,000 | $378,000 | $378,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $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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