Minnesota
Mortgage Loan Application
Totals and Details
in 2014

Find mortgage statistics for Minnesota.
Our lists allow you to explore the total number of mortgage applications and mortgage application details for 2003-2016 in all of Minnesota.
You can organize this information by metropolitan area and by county.

Years 2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 216,509
Total Mortgage Loan Application Amount $40,785,054,000
Average Mortgage Loan Application Amount $188,000
Highest Mortgage Loan Application Amount $60,000,000
Average Applicant Income $83,000
Highest Applicant Income $9,999,000

We provide overall totals and averages for each year, as well as highest application amount and the income of the highest applicant.
If you are looking for a mortgage or lending statistics in Minnesota, these numbers will give you an idea of what to expect as you begin to look for a lender.

These lists are also able to be organized by various details about Mortgage Loan Applications for each year, with categories such as loan purpose, race of mortgage applicant, loan type, the outcome of the application, and reason for denial.

Each category breaks down the total number of mortgage applications, the total dollar amount for those applications, the average mortgage amount, and the highest mortgage within that category. You can also look at information regarding the average income of the mortgage applicants and the highest income of the mortgage applicants. If you're looking for a certain type of mortgage, these numbers will give you a better gauge of what to expect in various situations.

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Mortgage Loan Application Detail Totals for Minnesota in 2014

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 116,866 $23,405,899,000 $200,000 $60,000,000 $78,000 $7,010,000
Refinancing 85,752 $16,268,691,000 $189,000 $32,638,000 $89,000 $9,118,000
Home Improvement 13,891 $1,110,464,000 $79,000 $16,500,000 $89,000 $9,999,000

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 154,342 $27,767,558,000 $179,000 $5,626,000 $94,000 $9,999,000
Not applicable 28,455 $7,183,349,000 $252,000 $60,000,000 $12,000 $2,836,000
Not Provided 17,603 $3,067,343,000 $174,000 $4,880,000 $101,000 $6,339,000
Asian 6,999 $1,344,512,000 $192,000 $28,500,000 $90,000 $1,959,000
Hispanic 4,103 $608,010,000 $148,000 $2,000,000 $70,000 $1,740,000
Black or African American 3,822 $631,221,000 $165,000 $1,680,000 $75,000 $5,372,000
American Indian or Alaskan Native 897 $135,584,000 $151,000 $880,000 $94,000 $1,344,000
Native Hawaiin or Other Pacific Islander 288 $47,477,000 $164,000 $728,000 $78,000 $549,000

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) 164,054 $31,788,720,000 $193,000 $60,000,000 $95,000 $9,999,000
FHA-insured (Federal Housing Administration) 32,000 $5,389,443,000 $168,000 $24,000,000 $47,000 $1,874,000
VA-guaranteed (Veterans Administration) 12,457 $2,564,405,000 $205,000 $1,095,000 $60,000 $2,912,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 7,998 $1,042,486,000 $130,000 $1,120,000 $33,000 $385,000

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 122,436 $23,908,426,000 $195,000 $60,000,000 $96,000 $8,187,000
Loan Purchased By The Institution 37,713 $7,045,431,000 $186,000 $15,742,000 $37,000 $2,836,000
Application Denied By Financial Institution 27,679 $4,449,785,000 $160,000 $28,500,000 $78,000 $9,999,000
Application Withdrawn By Applicant 17,852 $3,523,936,000 $197,000 $24,300,000 $96,000 $9,118,000
Application Approved But Not Accepted 5,990 $978,828,000 $163,000 $2,800,000 $96,000 $3,227,000
File Closed For Incompleteness 4,834 $877,289,000 $181,000 $5,000,000 $96,000 $4,273,000
Preapproval Approved but not Accepted 3 $1,037,000 $345,000 $416,000 $103,000 $152,000
Preapproval Denied by Financial Institution 2 $322,000 $161,000 $224,000 $42,000 $54,000

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
Credit History 5,231 $647,132,000 $123,000 $28,500,000 $75,000 $9,999,000
Debt-To-Income Ratio 4,438 $716,116,000 $161,000 $3,657,000 $59,000 $954,000
Collateral 4,420 $821,751,000 $185,000 $5,350,000 $103,000 $2,071,000
Credit Application Incomplete 1,911 $371,252,000 $194,000 $8,900,000 $92,000 $1,684,000
Other 1,797 $328,265,000 $182,000 $22,500,000 $90,000 $2,740,000
Unverifiable Information 646 $118,254,000 $183,000 $1,500,000 $93,000 $2,231,000
Insufficient Cash (Downpayment, Closing Cost) 416 $76,825,000 $184,000 $1,874,000 $83,000 $643,000
Employment History 301 $45,463,000 $151,000 $953,000 $64,000 $648,000
Mortgage Insurance Denied 20 $3,514,000 $175,000 $553,000 $77,000 $269,000
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Mortgage Loan Application Totals in 2014 by Minnesota Metropolitan Area

Metro Area Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
DULUTH, MN-WI 8,771 $ 1,212,373,000 $ 138,000 $ 71,000
MANKATO-NORTH MANKATO, MN 3,166 $ 484,718,000 $ 153,000 $ 74,000
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 147,054 $ 30,801,974,000 $ 209,000 $ 88,000
ROCHESTER, MN 8,742 $ 1,354,452,000 $ 154,000 $ 83,000
ST. CLOUD, MN 6,463 $ 963,738,000 $ 149,000 $ 67,000
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Mortgage Loan Application Totals in 2014 by Minnesota County

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
Aitkin 766 $ 112,778,000 $ 147,000 $ 92,000
Anoka 16,073 $ 2,824,870,000 $ 175,000 $ 70,000
Becker 1,337 $ 234,419,000 $ 175,000 $ 95,000
Beltrami 826 $ 110,646,000 $ 133,000 $ 71,000
Benton 1,408 $ 203,605,000 $ 144,000 $ 62,000
Big Stone 115 $ 10,945,000 $ 95,000 $ 71,000
Blue Earth 2,041 $ 315,745,000 $ 154,000 $ 68,000
Brown 560 $ 65,082,000 $ 116,000 $ 66,000
Carlton 1,514 $ 187,784,000 $ 124,000 $ 62,000
Carver 5,182 $ 1,225,791,000 $ 236,000 $ 102,000
Cass 1,215 $ 220,705,000 $ 181,000 $ 115,000
Chippewa 277 $ 27,271,000 $ 98,000 $ 46,000
Chisago 2,763 $ 459,466,000 $ 166,000 $ 71,000
Clay 2,762 $ 419,769,000 $ 151,000 $ 67,000
Clearwater 200 $ 19,212,000 $ 96,000 $ 59,000
Cook 148 $ 32,140,000 $ 217,000 $ 131,000
Cottonwood 252 $ 20,253,000 $ 80,000 $ 49,000
Crow Wing 2,599 $ 470,742,000 $ 181,000 $ 93,000
Dakota 19,063 $ 4,073,213,000 $ 213,000 $ 85,000
Dodge 873 $ 120,483,000 $ 138,000 $ 69,000
Douglas 1,447 $ 251,544,000 $ 173,000 $ 77,000
Faribault 320 $ 31,443,000 $ 98,000 $ 57,000
Fillmore 763 $ 98,004,000 $ 128,000 $ 66,000
Freeborn 765 $ 80,221,000 $ 104,000 $ 63,000
Goodhue 1,793 $ 265,799,000 $ 148,000 $ 72,000
Grant 174 $ 18,065,000 $ 103,000 $ 57,000
Hennepin 50,876 $ 12,038,422,000 $ 236,000 $ 102,000
Houston 574 $ 82,438,000 $ 143,000 $ 86,000
Hubbard 620 $ 91,227,000 $ 147,000 $ 83,000
Isanti 1,872 $ 280,970,000 $ 150,000 $ 63,000
Itasca 1,583 $ 221,093,000 $ 139,000 $ 75,000
Jackson 271 $ 30,802,000 $ 113,000 $ 58,000
Kanabec 586 $ 66,316,000 $ 113,000 $ 58,000
Kandiyohi 1,075 $ 161,167,000 $ 149,000 $ 69,000
Kittson 94 $ 9,380,000 $ 99,000 $ 68,000
Koochiching 240 $ 23,725,000 $ 98,000 $ 59,000
Lac qui Parle 116 $ 11,565,000 $ 99,000 $ 71,000
Lake 345 $ 57,968,000 $ 168,000 $ 87,000
Lake of the Woods 103 $ 12,348,000 $ 119,000 $ 77,000
Le Sueur 1,181 $ 176,209,000 $ 149,000 $ 69,000
Lincoln 82 $ 10,147,000 $ 123,000 $ 84,000
Lyon 585 $ 76,473,000 $ 130,000 $ 69,000
Mahnomen 89 $ 10,060,000 $ 113,000 $ 66,000
Marshall 229 $ 23,630,000 $ 103,000 $ 59,000
Martin 559 $ 62,134,000 $ 111,000 $ 69,000
McLeod 1,276 $ 171,220,000 $ 134,000 $ 62,000
Meeker 722 $ 92,737,000 $ 128,000 $ 70,000
Mille Lacs 1,143 $ 144,837,000 $ 126,000 $ 60,000
Morrison 1,070 $ 152,313,000 $ 142,000 $ 69,000
Mower 1,376 $ 204,354,000 $ 148,000 $ 55,000
Murray 157 $ 16,757,000 $ 106,000 $ 67,000
Nicollet 1,131 $ 169,297,000 $ 149,000 $ 85,000
Nobles 293 $ 32,799,000 $ 111,000 $ 48,000
Norman 180 $ 17,808,000 $ 98,000 $ 57,000
Olmsted 6,370 $ 1,038,478,000 $ 163,000 $ 88,000
Otter Tail 2,033 $ 312,621,000 $ 153,000 $ 90,000
Pennington 363 $ 44,404,000 $ 122,000 $ 54,000
Pine 1,181 $ 131,731,000 $ 111,000 $ 61,000
Pipestone 128 $ 12,132,000 $ 94,000 $ 67,000
Polk 1,084 $ 146,699,000 $ 135,000 $ 69,000
Pope 346 $ 45,846,000 $ 132,000 $ 75,000
Ramsey 17,838 $ 3,292,915,000 $ 184,000 $ 77,000
Red Lake 76 $ 8,171,000 $ 107,000 $ 51,000
Redwood 367 $ 36,480,000 $ 99,000 $ 54,000
Renville 367 $ 35,803,000 $ 97,000 $ 59,000
Rice 2,004 $ 330,965,000 $ 165,000 $ 70,000
Rock 260 $ 34,020,000 $ 130,000 $ 62,000
Roseau 314 $ 35,273,000 $ 112,000 $ 51,000
Scott 7,233 $ 1,606,518,000 $ 222,000 $ 90,000
Sherburne 4,727 $ 784,569,000 $ 165,000 $ 68,000
Sibley 455 $ 53,482,000 $ 117,000 $ 59,000
St. Louis 7,265 $ 1,025,606,000 $ 141,000 $ 72,000
Stearns 5,057 $ 761,533,000 $ 150,000 $ 69,000
Steele 1,323 $ 174,483,000 $ 131,000 $ 68,000
Stevens 244 $ 27,725,000 $ 113,000 $ 70,000
Swift 169 $ 17,155,000 $ 101,000 $ 54,000
Todd 696 $ 82,772,000 $ 118,000 $ 66,000
Traverse 70 $ 7,216,000 $ 103,000 $ 55,000
Wabasha 741 $ 97,921,000 $ 132,000 $ 77,000
Wadena 309 $ 34,600,000 $ 111,000 $ 52,000
Waseca 523 $ 57,633,000 $ 110,000 $ 61,000
Washington 12,035 $ 2,648,187,000 $ 220,000 $ 95,000
Watonwan 253 $ 23,797,000 $ 94,000 $ 69,000
Wilkin 224 $ 22,150,000 $ 98,000 $ 60,000
Winona 1,258 $ 170,412,000 $ 135,000 $ 66,000
Wright 6,711 $ 1,203,723,000 $ 179,000 $ 77,000
Yellow Medicine 172 $ 18,327,000 $ 106,000 $ 65,000

We hope these totals and details for mortgage applications will give you a better idea of what to expect when applying for a mortgage.
Whether you are looking for a home loan, for home financing or refinancing, or for home improvement loan statistics, we have the information you need.
These mortgage application stats give you everything you need to know as you start your search for the best mortgage lender in MN.

If you prefer, you can download a copy of the entire list of mortgage lenders in Minnesota, and search similar information back through 2003.

Download the Minnesota Lender List