Minnesota
Mortgage Loan Application
Totals and Details
in 2017

Find mortgage statistics for Minnesota.
Our lists allow you to explore the total number of mortgage applications and mortgage application details for 2003-2017 in all of Minnesota.
You can organize this information by metropolitan area and by county.

Years 2017  2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 269,551
Total Mortgage Loan Application Amount $56,998,593,000
Average Mortgage Loan Application Amount $211,000
Highest Mortgage Loan Application Amount $82,000,000
Average Applicant Income $87,000
Highest Applicant Income $7,533,000

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 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 151,061 $34,796,299,000 $230,000 $82,000,000 $83,000 $7,182,000
Refinancing 96,693 $19,908,679,000 $205,000 $46,000,000 $91,000 $7,533,000
Home Improvement 21,797 $2,293,615,000 $105,000 $26,619,000 $98,000 $4,940,000

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 189,121 $37,849,323,000 $200,000 $11,000,000 $100,000 $7,328,000
Not applicable 33,235 $10,000,703,000 $300,000 $82,000,000 $9,000 $7,182,000
Not Provided 20,968 $4,208,884,000 $200,000 $5,800,000 $104,000 $5,940,000
Asian 10,088 $2,132,062,000 $211,000 $1,800,000 $94,000 $1,608,000
Hispanic 7,307 $1,199,134,000 $164,000 $1,650,000 $73,000 $1,800,000
Black or African American 7,170 $1,320,304,000 $184,000 $4,530,000 $77,000 $7,533,000
American Indian or Alaskan Native 1,244 $209,041,000 $168,000 $1,146,000 $96,000 $788,000
Native Hawaiin or Other Pacific Islander 418 $79,142,000 $189,000 $1,090,000 $84,000 $800,000

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) 202,864 $43,834,907,000 $216,000 $82,000,000 $100,000 $7,533,000
FHA-insured (Federal Housing Administration) 42,353 $8,171,006,000 $192,000 $35,534,000 $47,000 $1,003,000
VA-guaranteed (Veterans Administration) 17,718 $4,036,967,000 $227,000 $2,066,000 $61,000 $924,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 6,616 $955,713,000 $144,000 $1,399,000 $36,000 $2,683,000

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 154,164 $33,540,683,000 $217,000 $65,000,000 $99,000 $7,328,000
Loan Purchased By The Institution 47,493 $10,166,078,000 $214,000 $3,060,000 $47,000 $1,855,000
Application Denied By Financial Institution 27,981 $4,795,168,000 $171,000 $37,000,000 $79,000 $7,533,000
Application Withdrawn By Applicant 26,261 $5,755,300,000 $219,000 $82,000,000 $98,000 $5,523,000
File Closed For Incompleteness 7,235 $1,467,894,000 $202,000 $44,000,000 $83,000 $2,040,000
Application Approved But Not Accepted 6,405 $1,271,233,000 $198,000 $47,000,000 $103,000 $2,786,000
Preapproval Denied by Financial Institution 11 $2,090,000 $190,000 $332,000 $63,000 $117,000
Preapproval Approved but not Accepted 1 $147,000 $147,000 $147,000 $29,000 $29,000

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 5,680 $728,476,000 $128,000 $2,700,000 $81,000 $7,533,000
Debt-To-Income Ratio 5,671 $959,451,000 $169,000 $2,650,000 $60,000 $900,000
Collateral 3,900 $793,535,000 $203,000 $4,125,000 $104,000 $1,755,000
Credit Application Incomplete 2,137 $400,510,000 $187,000 $2,000,000 $89,000 $1,584,000
Other 1,655 $378,037,000 $228,000 $37,000,000 $96,000 $5,217,000
Unverifiable Information 771 $146,613,000 $190,000 $1,300,000 $100,000 $3,849,000
Insufficient Cash (Downpayment, Closing Cost) 561 $121,422,000 $216,000 $1,920,000 $92,000 $1,430,000
Employment History 433 $79,891,000 $184,000 $1,834,000 $76,000 $2,399,000
Mortgage Insurance Denied 11 $1,787,000 $162,000 $265,000 $55,000 $100,000
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Mortgage Loan Application Totals in 2017 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 9,524 $ 1,496,160,000 $ 157,000 $ 75,000
MANKATO-NORTH MANKATO, MN 3,589 $ 653,543,000 $ 182,000 $ 73,000
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 187,042 $ 43,629,266,000 $ 233,000 $ 92,000
ROCHESTER, MN 10,306 $ 1,932,770,000 $ 187,000 $ 91,000
ST. CLOUD, MN 7,852 $ 1,339,710,000 $ 170,000 $ 73,000
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Mortgage Loan Application Totals in 2017 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 962 $ 154,699,000 $ 160,000 $ 101,000
Anoka 21,759 $ 4,268,402,000 $ 196,000 $ 73,000
Becker 1,509 $ 285,214,000 $ 189,000 $ 92,000
Beltrami 1,118 $ 177,318,000 $ 158,000 $ 76,000
Benton 1,708 $ 284,512,000 $ 166,000 $ 69,000
Big Stone 145 $ 16,647,000 $ 114,000 $ 81,000
Blue Earth 2,380 $ 440,719,000 $ 185,000 $ 72,000
Brown 770 $ 101,350,000 $ 131,000 $ 66,000
Carlton 1,720 $ 252,382,000 $ 146,000 $ 66,000
Carver 6,299 $ 1,691,386,000 $ 268,000 $ 111,000
Cass 1,549 $ 306,670,000 $ 197,000 $ 114,000
Chippewa 304 $ 29,402,000 $ 96,000 $ 58,000
Chisago 3,441 $ 650,338,000 $ 188,000 $ 74,000
Clay 3,007 $ 514,584,000 $ 171,000 $ 69,000
Clearwater 216 $ 25,903,000 $ 119,000 $ 74,000
Cook 200 $ 43,975,000 $ 219,000 $ 133,000
Cottonwood 325 $ 40,468,000 $ 124,000 $ 54,000
Crow Wing 3,475 $ 703,257,000 $ 202,000 $ 95,000
Dakota 24,436 $ 5,499,028,000 $ 225,000 $ 88,000
Dodge 1,060 $ 165,432,000 $ 156,000 $ 70,000
Douglas 1,556 $ 309,713,000 $ 199,000 $ 83,000
Faribault 307 $ 30,911,000 $ 100,000 $ 53,000
Fillmore 815 $ 105,374,000 $ 129,000 $ 78,000
Freeborn 911 $ 98,583,000 $ 108,000 $ 56,000
Goodhue 2,009 $ 348,502,000 $ 173,000 $ 77,000
Grant 206 $ 24,456,000 $ 118,000 $ 63,000
Hennepin 62,508 $ 16,726,908,000 $ 267,000 $ 106,000
Houston 602 $ 93,891,000 $ 155,000 $ 78,000
Hubbard 815 $ 141,904,000 $ 174,000 $ 91,000
Isanti 2,706 $ 462,295,000 $ 170,000 $ 62,000
Itasca 1,853 $ 265,418,000 $ 143,000 $ 82,000
Jackson 238 $ 27,609,000 $ 116,000 $ 59,000
Kanabec 775 $ 102,159,000 $ 131,000 $ 65,000
Kandiyohi 1,327 $ 211,448,000 $ 159,000 $ 73,000
Kittson 89 $ 8,526,000 $ 95,000 $ 61,000
Koochiching 329 $ 33,586,000 $ 102,000 $ 63,000
Lac qui Parle 143 $ 14,594,000 $ 102,000 $ 66,000
Lake 349 $ 58,071,000 $ 166,000 $ 80,000
Lake of the Woods 197 $ 25,607,000 $ 129,000 $ 81,000
Le Sueur 1,438 $ 262,702,000 $ 182,000 $ 78,000
Lincoln 161 $ 17,881,000 $ 111,000 $ 61,000
Lyon 669 $ 89,919,000 $ 134,000 $ 70,000
Mahnomen 103 $ 12,148,000 $ 117,000 $ 65,000
Marshall 284 $ 30,087,000 $ 105,000 $ 57,000
Martin 558 $ 64,569,000 $ 115,000 $ 71,000
McLeod 1,569 $ 246,042,000 $ 156,000 $ 70,000
Meeker 922 $ 133,727,000 $ 145,000 $ 69,000
Mille Lacs 1,458 $ 218,790,000 $ 150,000 $ 64,000
Morrison 1,351 $ 212,666,000 $ 157,000 $ 70,000
Mower 1,280 $ 138,428,000 $ 108,000 $ 53,000
Murray 228 $ 31,186,000 $ 136,000 $ 74,000
Nicollet 1,214 $ 213,177,000 $ 175,000 $ 74,000
Nobles 375 $ 49,845,000 $ 132,000 $ 55,000
Norman 204 $ 19,070,000 $ 93,000 $ 65,000
Olmsted 7,487 $ 1,524,155,000 $ 203,000 $ 97,000
Otter Tail 2,460 $ 421,281,000 $ 171,000 $ 87,000
Pennington 429 $ 55,841,000 $ 130,000 $ 56,000
Pine 1,503 $ 200,436,000 $ 133,000 $ 71,000
Pipestone 165 $ 20,758,000 $ 125,000 $ 57,000
Polk 1,124 $ 165,316,000 $ 147,000 $ 74,000
Pope 422 $ 62,169,000 $ 147,000 $ 72,000
Ramsey 23,225 $ 4,816,595,000 $ 207,000 $ 81,000
Red Lake 101 $ 10,923,000 $ 108,000 $ 51,000
Redwood 414 $ 46,226,000 $ 111,000 $ 61,000
Renville 363 $ 37,951,000 $ 104,000 $ 61,000
Rice 2,472 $ 468,253,000 $ 189,000 $ 76,000
Rock 342 $ 46,690,000 $ 136,000 $ 64,000
Roseau 426 $ 49,568,000 $ 116,000 $ 55,000
Scott 8,666 $ 2,123,019,000 $ 244,000 $ 98,000
Sherburne 6,354 $ 1,221,686,000 $ 192,000 $ 72,000
Sibley 612 $ 84,713,000 $ 138,000 $ 68,000
St. Louis 7,816 $ 1,244,683,000 $ 159,000 $ 77,000
Stearns 6,150 $ 1,055,699,000 $ 171,000 $ 74,000
Steele 1,472 $ 229,891,000 $ 156,000 $ 67,000
Stevens 194 $ 22,670,000 $ 116,000 $ 69,000
Swift 200 $ 21,503,000 $ 107,000 $ 60,000
Todd 812 $ 111,847,000 $ 137,000 $ 72,000
Traverse 73 $ 12,322,000 $ 168,000 $ 60,000
Wabasha 951 $ 138,299,000 $ 145,000 $ 77,000
Wadena 348 $ 42,012,000 $ 120,000 $ 52,000
Waseca 635 $ 79,968,000 $ 125,000 $ 54,000
Washington 15,566 $ 3,830,006,000 $ 246,000 $ 100,000
Watonwan 314 $ 37,118,000 $ 118,000 $ 73,000
Wilkin 234 $ 33,160,000 $ 141,000 $ 56,000
Winona 1,430 $ 210,146,000 $ 146,000 $ 77,000
Wright 8,679 $ 1,779,352,000 $ 205,000 $ 81,000
Yellow Medicine 234 $ 24,527,000 $ 104,000 $ 56,000

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