Lake of the Woods County, MN Mortgage Lenders & HMDA Data, 2023
In 2023, lenders reported 103 mortgage applications in Lake of the Woods County, MN totaling $16.5 million, down 34% from 2022. The average application was for $160,000, and applicants reported an average income of $117,000. 68% of applications resulted in an originated loan and 13% were denied. The most active lender was Border Bank, with 30 applications, followed by New American Funding, Llc. and Riverwood 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 | 103 |
| Total Mortgage Loan Application Amount | $16,545,000 |
| Average Mortgage Loan Application Amount | $160,000 |
| Highest Mortgage Loan Application Amount | $575,000 |
| Average Applicant Income | $117,000 |
| Highest Applicant Income | $1,008,000 |
| Mortgage Lender | Phone Number | Mortgage Lender Assets | Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications |
|---|---|---|---|---|
| Border Bank 4530 17TH AVENUE SOUTH FARGO, ND 58103 |
* | $ 885,269,000 | 30 | $ 3,600,000 |
| New American Funding, Llc. 14511 MYFORD ROAD, SUITE 100 TUSTIN, CA 92780 |
* | $ -1,000 | 9 | $ 1,935,000 |
| Riverwood Bank 14540 DELLWOOD DR PO BOX 2947 BAXTER, MN 56425 |
* | $ 587,264,000 | 5 | $ 1,225,000 |
| Guaranteed Rate, Inc. 3940 NORTH RAVENSWOOD AVE CHICAGO, IL 60613 |
* | $ -1,000 | 3 | $ 455,000 |
| Gate City Bank 500 2ND AVE N FARGO, ND 58102 |
* | $ 3,392,287,000 | 3 | $ 405,000 |
| US Bank, N.A. 425 WALNUT STREET CINCINNATI, OH 45202 |
* | $ 585,135,605,000 | 3 | $ 495,000 |
| Frandsen Bank & Trust 116 CENTRAL STREET WEST LONSDALE, MN 55046 |
* | $ 3,163,444,000 | 2 | $ 70,000 |
| Wells Fargo Bank NA MINNEAPOLIS, MN 55415 |
* | $ 1,717,531,000,000 | 2 | $ 710,000 |
| PennyMac Loan Services LLC 3043 TOWNSGATE ROAD WESTLAKE VILLAGE, CA 91361 |
* | $ -1,000 | 2 | $ 340,000 |
| Wings Financial Credit Union 14985 GLAZIER AVENUE APPLE VALLEY, MN 55124 |
* | $ 8,422,113,000 | 2 | $ 250,000 |
| Cardinal Financial Company, Li 3530 TORINGDON WAY STE 200 CHARLOTTE, NC 28277 |
* | $ -1,000 | 2 | $ 170,000 |
| Trustone Financial Credit Union 14601 27TH AVENUE NORTH PLYMOUTH, MN 55447 |
* | $ 4,614,668,000 | 2 | $ 580,000 |
| 21st Mortgage 620 MARKET ST SUITE 100 KNOXVILLE, TN 37902 |
* | $ -1,000 | 2 | $ 140,000 |
| Amerisave Mortgage Company 1200 ALTMORE AVENUE BUILDING 2 SUITE 300 SANDY SPRINGS, GA 30342 |
* | $ -1,000 | 2 | $ 210,000 |
| Newrez LLC FORT WASHINGTON, PA 19034 |
* | $ -1,000 | 2 | $ 130,000 |
| St. Cloud Financial Credit Union 3030 1ST ST S SAINT CLOUD, MN 56301 |
* | $ 326,767,000 | 1 | $ 165,000 |
| Ark-La-Tex Financial Services LLC 5160 TENNYSON PKWY STE 1000 PLANO, TX 75024 |
* | $ -1,000 | 1 | $ 85,000 |
| Farmers Bank & Trust 1017 HARRISON GREAT BEND, KS 67530 |
* | $ 977,048,000 | 1 | $ 345,000 |
| Discover Bank 12 READS WAY GREENWOOD, DE 19950 |
* | $ 129,461,046,000 | 1 | $ 35,000 |
| Barrington Bank & Trust Company, N.A. 201 SOUTH HOUGH STREET BARRINGTON, IL 60010 |
* | $ 3,765,608,000 | 1 | $ 175,000 |
| Minnco Credit Union 235 WEST 1ST AVENUE CAMBRIDGE, MN 55008 |
* | $ 505,737,000 | 1 | $ 25,000 |
| Everett Financial, Inc. 14801 QUORUM DRIVE, SUITE 300 DALLAS, TX 75254 |
* | $ -1,000 | 1 | $ 135,000 |
| Highland Bank 2100 FORD PKWY SAINT PAUL, MN 55116 |
* | $ 663,555,000 | 1 | $ 165,000 |
| First Western Bank & Trust 900 SOUTH BROADWAY MINOT, ND 58701 |
* | $ 2,022,880,000 | 1 | $ 45,000 |
| Dakota Heritage Bank RED LAKE FALLS, MN 56750 |
* | $ 324,294,000 | 1 | $ 145,000 |
| V.I.P. Mortgage, Inc. 9221 E VIA DE VENTURA SCOTTSDALE, AZ 85258 |
* | $ -1,000 | 1 | $ 305,000 |
| American National Bank of Minnesota 1920 SOUTH SIXTH STREET BRAINERD, MN 56401 |
* | $ 451,321,000 | 1 | $ 385,000 |
| Nationstar Mortgage 8950 CYPRESS WATERS BLVD. COPPELL, TX 75019 |
* | $ -1,000 | 1 | $ 305,000 |
| Mortgage Research Center 1400 VETERANS UNITED DR. COLUMBIA, MO 65203 |
* | $ -1,000 | 1 | $ 255,000 |
| Magnifi Financial Credit Union 20 4TH AVE SE MELROSE, MN 56352 |
* | $ 2,123,114,000 | 1 | $ 55,000 |
| USAA Federal Savings Bank 10750 MCDERMOTT FREEWAY SAN ANTONIO, TX 78288 |
* | $ 110,900,000,000 | 1 | $ 335,000 |
| Luminate Home Loans, Inc. 2523 WAYZATA BLVD SUITE 200 MINNEAPOLIS, MN 55405 |
* | $ -1,000 | 1 | $ 85,000 |
| JPMorgan Chase Bank, NA 1111 POLARIS PARKWAY COLUMBUS, OH 43240 |
* | $ 3,201,942,000,000 | 1 | $ 295,000 |
| Crosscountry Mortgage, LLC 2160 SUPERIOR AVENUE CLEVELAND, OH 44114 |
* | $ -1,000 | 1 | $ 425,000 |
| Amerihome Mortgage Company, LLC 1 BAXTER WAY SUITE 300 THOUSAND OAKS, CA 91362 |
* | $ -1,000 | 1 | $ 345,000 |
| Carrington Mortgage Services LLC 500 NORTH STATE COLLEGE BOULEVARD SUITES 1030, 1300 AND 1400 ORANGE, CA 92868 |
* | $ -1,000 | 1 | $ 75,000 |
| American Neighborhood Mortgage Acceptance Company 700 EAST GATE DRIVE, SUITE 400 MT. LAUREL, NJ 08054 |
* | $ -1,000 | 1 | $ 125,000 |
| Bremer Bank NA 372 SAINT PETER STREET SAINT PAUL, MN 55102 |
* | $ 15,939,263,000 | 1 | $ 65,000 |
| Falcon National Bank 183 CEDAR DRIVE FOLEY, MN 56329 |
* | $ 868,853,000 | 1 | $ 65,000 |
| First Bank & Trust 520 6TH STREET BROOKINGS, SD 57006 |
* | $ 4,377,534,000 | 1 | $ 125,000 |
The tables below break down 2023 mortgage applications in Lake of the Woods 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 of the Woods 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 | 68 | $12,270,000 | $180,000 | $575,000 | $121,000 | $1,008,000 |
| Cash-out Refinancing | 13 | $2,135,000 | $164,000 | $265,000 | $80,000 | $270,000 |
| Other Purpose | 11 | $925,000 | $84,000 | $165,000 | $142,000 | $630,000 |
| Home Improvement | 6 | $480,000 | $80,000 | $255,000 | $117,000 | $282,000 |
| Refinancing | 5 | $735,000 | $147,000 | $305,000 | $107,000 | $144,000 |
| 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 | 80 | $13,360,000 | $167,000 | $575,000 | $120,000 | $1,008,000 |
| Not applicable | 7 | $1,365,000 | $195,000 | $345,000 | $0 | $0 |
| Not Provided | 6 | $910,000 | $151,000 | $255,000 | $86,000 | $144,000 |
| Black or African American | 5 | $495,000 | $99,000 | $155,000 | $58,000 | $58,000 |
| Hispanic | 2 | $130,000 | $65,000 | $115,000 | $64,000 | $86,000 |
| American Indian or Alaskan Native | 2 | $180,000 | $90,000 | $155,000 | $385,000 | $385,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $105,000 | $105,000 | $105,000 | $188,000 | $188,000 |
| Asian | 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) | 81 | $12,265,000 | $151,000 | $575,000 | $125,000 | $1,008,000 |
| FHA-insured (Federal Housing Administration) | 13 | $2,615,000 | $201,000 | $405,000 | $91,000 | $136,000 |
| VA-guaranteed (Veterans Administration) | 6 | $1,410,000 | $235,000 | $335,000 | $80,000 | $129,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 3 | $255,000 | $85,000 | $85,000 | $64,000 | $79,000 |
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 | 70 | $11,950,000 | $170,000 | $575,000 | $122,000 | $1,008,000 |
| Application Denied By Financial Institution | 13 | $1,395,000 | $107,000 | $255,000 | $71,000 | $270,000 |
| Application Withdrawn By Applicant | 10 | $1,580,000 | $158,000 | $295,000 | $150,000 | $630,000 |
| Loan Purchased By The Institution | 5 | $1,145,000 | $229,000 | $345,000 | $58,000 | $58,000 |
| File Closed For Incompleteness | 4 | $370,000 | $92,000 | $105,000 | $86,000 | $144,000 |
| Application Approved But Not Accepted | 1 | $105,000 | $105,000 | $105,000 | $188,000 | $188,000 |
| 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 | 60 | $11,630,000 | $193,000 | $575,000 | $135,000 | $1,008,000 |
| Debt-To-Income Ratio | 35 | $4,235,000 | $121,000 | $345,000 | $99,000 | $385,000 |
| Collateral | 4 | $420,000 | $105,000 | $165,000 | $67,000 | $92,000 |
| Credit History | 2 | $150,000 | $75,000 | $115,000 | $40,000 | $79,000 |
| Credit Application Incomplete | 1 | $25,000 | $25,000 | $25,000 | $0 | $0 |
| Other | 1 | $85,000 | $85,000 | $85,000 | $69,000 | $69,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
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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