Minnesota
Mortgage Loan Application
Totals and Details
in 2018

Find mortgage statistics and mortgage data for Minnesota.
Our lists allow you to explore the total number of mortgage applications and mortgage application details for 2003-2018 in all of Minnesota.
You can organize this information by metropolitan area and by county.

Years 2018  2017  2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 267,913
Total Mortgage Loan Application Amount $54,946,475,000
Average Mortgage Loan Application Amount $205,000
Highest Mortgage Loan Application Amount $77,645,000
Average Applicant Income $105,000
Highest Applicant Income $9,830,000

Mortgage stats and application averages for each year are shown below, as well as highest application amount and the income of the highest applicant.
If you are looking for a mortgage or loan application data statistics in Minnesota, these numbers will give you an idea of what to expect as you begin to look for a lender.

These lists can also 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 2018

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 145,960 $34,446,280,000 $236,000 $77,645,000 $102,000 $8,891,000
Cash-out Refinancing 41,339 $8,427,795,000 $203,000 $39,415,000 $93,000 $8,400,000
Refinancing 40,487 $8,645,565,000 $213,000 $75,405,000 $113,000 $9,015,000
Other Purpose 18,247 $1,569,785,000 $86,000 $4,795,000 $119,000 $9,830,000
Home Improvement 18,216 $1,352,180,000 $74,000 $15,915,000 $118,000 $3,411,000
Not Applicable 3,664 $504,870,000 $137,000 $5,905,000 $87,000 $525,000

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 186,014 $35,290,535,000 $189,000 $6,505,000 $105,000 $9,830,000
Not applicable 32,156 $10,117,360,000 $314,000 $77,645,000 $89,000 $596,000
Not Provided 22,892 $4,439,660,000 $193,000 $4,115,000 $119,000 $8,400,000
Asian 9,584 $2,027,335,000 $211,000 $3,105,000 $99,000 $1,908,000
Black or African American 7,735 $1,444,635,000 $186,000 $2,675,000 $82,000 $7,185,000
Hispanic 7,032 $1,164,410,000 $165,000 $1,855,000 $78,000 $3,432,000
American Indian or Alaskan Native 1,232 $204,070,000 $165,000 $1,505,000 $99,000 $1,537,000
Native Hawaiian or Other Pacific Islander 282 $46,770,000 $165,000 $1,195,000 $104,000 $1,202,000

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) 214,308 $44,096,580,000 $205,000 $77,645,000 $112,000 $9,830,000
FHA-insured (Federal Housing Administration) 33,426 $6,462,120,000 $193,000 $34,965,000 $67,000 $1,356,000
VA-guaranteed (Veterans Administration) 15,134 $3,639,410,000 $240,000 $2,045,000 $80,000 $1,488,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 5,045 $748,365,000 $148,000 $2,675,000 $54,000 $276,000

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 153,457 $32,272,540,000 $210,000 $77,645,000 $109,000 $9,015,000
Loan Purchased By The Institution 44,024 $9,808,810,000 $222,000 $75,405,000 $104,000 $3,708,000
Application Denied By Financial Institution 32,085 $4,985,505,000 $155,000 $56,715,000 $86,000 $5,982,000
Application Withdrawn By Applicant 27,708 $5,857,825,000 $211,000 $58,105,000 $103,000 $8,400,000
File Closed For Incompleteness 6,322 $1,117,010,000 $176,000 $2,765,000 $104,000 $9,830,000
Application Approved But Not Accepted 4,179 $876,515,000 $209,000 $32,505,000 $116,000 $5,726,000
Preapproval Approved but not Accepted 85 $20,825,000 $245,000 $1,645,000 $115,000 $944,000
Preapproval Denied by Financial Institution 53 $7,445,000 $140,000 $335,000 $61,000 $450,000

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
Not applicable 226,507 $47,934,665,000 $211,000 $77,645,000 $107,000 $9,830,000
Debt-To-Income Ratio 18,313 $3,443,545,000 $188,000 $75,405,000 $85,000 $3,664,000
Credit History 8,891 $970,725,000 $109,000 $2,045,000 $90,000 $3,080,000
Collateral 5,601 $864,965,000 $154,000 $3,215,000 $113,000 $5,982,000
Credit Application Incomplete 3,215 $604,105,000 $187,000 $6,505,000 $92,000 $3,667,000
Other 3,107 $705,585,000 $227,000 $56,715,000 $92,000 $4,274,000
Unverifiable Information 1,300 $234,570,000 $180,000 $36,435,000 $111,000 $4,266,000
Insufficient Cash (Downpayment, Closing Cost) 572 $116,710,000 $204,000 $2,175,000 $92,000 $1,148,000
Employment History 387 $67,435,000 $174,000 $1,205,000 $63,000 $680,000
Mortgage Insurance Denied 20 $4,170,000 $208,000 $605,000 $94,000 $432,000
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Mortgage Loan Application Totals in 2018 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 9,247 $ 1,454,735,000 $ 157,000 $ 90,000
MANKATO-NORTH MANKATO, MN 3,478 $ 622,480,000 $ 178,000 $ 94,000
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 187,067 $ 41,987,655,000 $ 224,000 $ 111,000
ROCHESTER, MN 10,237 $ 1,810,400,000 $ 176,000 $ 100,000
ST. CLOUD, MN 7,793 $ 1,292,405,000 $ 165,000 $ 85,000
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Mortgage Loan Application Totals in 2018 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 889 $ 138,715,000 $ 156,000 $ 104,000
Anoka 21,057 $ 4,094,485,000 $ 194,000 $ 90,000
Becker 1,576 $ 301,730,000 $ 191,000 $ 118,000
Beltrami 1,188 $ 180,350,000 $ 151,000 $ 86,000
Benton 1,740 $ 268,900,000 $ 154,000 $ 81,000
Big Stone 139 $ 15,355,000 $ 110,000 $ 78,000
Blue Earth 2,396 $ 432,170,000 $ 180,000 $ 89,000
Brown 870 $ 100,040,000 $ 114,000 $ 67,000
Carlton 1,561 $ 218,295,000 $ 139,000 $ 79,000
Carver 6,259 $ 1,585,885,000 $ 253,000 $ 131,000
Cass 1,551 $ 289,975,000 $ 186,000 $ 121,000
Chippewa 343 $ 35,565,000 $ 103,000 $ 70,000
Chisago 3,545 $ 660,165,000 $ 186,000 $ 92,000
Clay 3,022 $ 516,290,000 $ 170,000 $ 85,000
Clearwater 206 $ 24,400,000 $ 118,000 $ 70,000
Cook 158 $ 39,510,000 $ 250,000 $ 201,000
Cottonwood 325 $ 32,265,000 $ 99,000 $ 70,000
Crow Wing 3,405 $ 680,315,000 $ 199,000 $ 117,000
Dakota 24,764 $ 5,266,090,000 $ 212,000 $ 105,000
Dodge 989 $ 149,815,000 $ 151,000 $ 83,000
Douglas 1,609 $ 272,525,000 $ 169,000 $ 99,000
Faribault 370 $ 33,850,000 $ 91,000 $ 58,000
Fillmore 788 $ 95,260,000 $ 120,000 $ 76,000
Freeborn 922 $ 103,140,000 $ 111,000 $ 80,000
Goodhue 2,071 $ 349,875,000 $ 168,000 $ 89,000
Grant 212 $ 23,610,000 $ 111,000 $ 72,000
Hennepin 63,370 $ 16,453,960,000 $ 259,000 $ 127,000
Houston 674 $ 89,910,000 $ 133,000 $ 82,000
Hubbard 773 $ 130,455,000 $ 168,000 $ 97,000
Isanti 2,764 $ 480,460,000 $ 173,000 $ 80,000
Itasca 1,886 $ 292,050,000 $ 154,000 $ 85,000
Jackson 235 $ 25,575,000 $ 108,000 $ 71,000
Kanabec 790 $ 107,250,000 $ 135,000 $ 71,000
Kandiyohi 1,474 $ 237,220,000 $ 160,000 $ 90,000
Kittson 71 $ 6,855,000 $ 96,000 $ 79,000
Koochiching 317 $ 35,055,000 $ 110,000 $ 78,000
Lac qui Parle 148 $ 16,500,000 $ 111,000 $ 72,000
Lake 366 $ 61,150,000 $ 167,000 $ 108,000
Lake of the Woods 155 $ 20,585,000 $ 132,000 $ 74,000
Le Sueur 1,390 $ 240,300,000 $ 172,000 $ 92,000
Lincoln 156 $ 16,090,000 $ 103,000 $ 66,000
Lyon 689 $ 99,315,000 $ 144,000 $ 88,000
Mahnomen 93 $ 10,925,000 $ 117,000 $ 70,000
Marshall 259 $ 28,375,000 $ 109,000 $ 68,000
Martin 544 $ 64,840,000 $ 119,000 $ 81,000
McLeod 1,512 $ 231,630,000 $ 153,000 $ 72,000
Meeker 887 $ 137,685,000 $ 155,000 $ 83,000
Mille Lacs 1,469 $ 223,605,000 $ 152,000 $ 79,000
Morrison 1,230 $ 181,570,000 $ 147,000 $ 81,000
Mower 1,379 $ 148,255,000 $ 107,000 $ 69,000
Murray 208 $ 26,960,000 $ 129,000 $ 91,000
Nicollet 1,087 $ 190,875,000 $ 175,000 $ 104,000
Nobles 296 $ 36,640,000 $ 123,000 $ 68,000
Norman 171 $ 14,775,000 $ 86,000 $ 68,000
Olmsted 7,579 $ 1,432,650,000 $ 189,000 $ 107,000
Otter Tail 2,527 $ 412,850,000 $ 163,000 $ 104,000
Pennington 437 $ 63,545,000 $ 145,000 $ 71,000
Pine 1,634 $ 224,940,000 $ 137,000 $ 77,000
Pipestone 176 $ 17,210,000 $ 97,000 $ 68,000
Polk 1,096 $ 163,440,000 $ 149,000 $ 87,000
Pope 409 $ 64,985,000 $ 158,000 $ 98,000
Ramsey 23,405 $ 4,651,625,000 $ 198,000 $ 99,000
Red Lake 102 $ 13,040,000 $ 127,000 $ 68,000
Redwood 474 $ 48,910,000 $ 103,000 $ 70,000
Renville 392 $ 40,330,000 $ 102,000 $ 70,000
Rice 2,476 $ 444,340,000 $ 179,000 $ 89,000
Rock 302 $ 41,220,000 $ 136,000 $ 75,000
Roseau 374 $ 44,660,000 $ 119,000 $ 73,000
Scott 8,793 $ 2,055,745,000 $ 233,000 $ 118,000
Sherburne 6,044 $ 1,188,720,000 $ 196,000 $ 92,000
Sibley 553 $ 78,745,000 $ 142,000 $ 75,000
St. Louis 7,691 $ 1,236,695,000 $ 160,000 $ 92,000
Stearns 6,061 $ 1,024,065,000 $ 168,000 $ 87,000
Steele 1,541 $ 244,635,000 $ 158,000 $ 79,000
Stevens 243 $ 28,615,000 $ 117,000 $ 73,000
Swift 198 $ 20,210,000 $ 102,000 $ 73,000
Todd 796 $ 105,510,000 $ 132,000 $ 79,000
Traverse 57 $ 4,735,000 $ 83,000 $ 67,000
Wabasha 895 $ 136,475,000 $ 152,000 $ 88,000
Wadena 350 $ 45,850,000 $ 131,000 $ 70,000
Waseca 589 $ 79,195,000 $ 134,000 $ 66,000
Washington 15,656 $ 3,565,060,000 $ 227,000 $ 120,000
Watonwan 294 $ 30,150,000 $ 102,000 $ 72,000
Wilkin 256 $ 26,380,000 $ 103,000 $ 66,000
Winona 1,751 $ 218,955,000 $ 125,000 $ 83,000
Wright 8,206 $ 1,655,950,000 $ 201,000 $ 100,000
Yellow Medicine 208 $ 19,600,000 $ 94,000 $ 65,000

We hope these mortgage application details and statistics 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 Minnesota.

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