Minnesota
HMDA Loan Application Totals
and Mortgage Lending Details
for 2023

Discover comprehensive Minnesota mortgage statistics and HMDA loan application data from 2003 to 2023.
Explore detailed insights into the total number of mortgage applications, loan amounts, and lending trends across the state.
Our interactive lists allow you to analyze mortgage data by county and metropolitan area, helping you track regional lending patterns.

Need in-depth lender data?
Easily download a formatted spreadsheet containing aggregated HMDA statistics for all Minnesota based lenders.
Whether you're an industry analyst, homebuyer, or researcher, this data provides valuable insights into Minnesota's mortgage market trends.

Years 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 173,466
Total Mortgage Loan Application Amount $42,455,775,000
Average Mortgage Loan Application Amount $244,000
Highest Mortgage Loan Application Amount $57,005,000
Average Applicant Income $130,000
Highest Applicant Income $9,366,000

Explore comprehensive HMDA mortgage statistics and application trends for 2023 in Minnesota. Below, you'll find key insights, including total mortgage applications, average loan amounts, highest application amounts, and the income levels of top applicants. If you're researching mortgage and loan application data in Minnesota, these statistics will help you understand market trends and lending patterns as you navigate the mortgage process.

Our HMDA dataset allows you to analyze mortgage loan applications for 2023 across various categories, including loan purpose, applicant race, loan type, application outcomes, and reasons for denial. These detailed breakdowns provide valuable insights into borrower demographics and lender activity, making them an essential resource for homebuyers, real estate professionals, and industry analysts.

Each category highlights the total number of mortgage applications, total loan amounts, average mortgage sizes, and the highest loan amounts within each segment. You can also explore borrower income data, including average applicant income and the highest reported incomes for mortgage applicants. Whether you're evaluating lender performance, researching loan approval trends, or comparing mortgage options, this HMDA-backed data offers a valuable snapshot of the mortgage landscape in Minnesota.

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Mortgage Loan Application Detail Totals for Minnesota 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 100,279 $31,230,895,000 $311,000 $57,005,000 $129,000 $7,780,000
Other Purpose 21,775 $2,021,625,000 $92,000 $24,405,000 $134,000 $9,366,000
Home Improvement 20,688 $1,760,590,000 $85,000 $39,005,000 $139,000 $4,492,000
Cash-out Refinancing 17,771 $4,025,860,000 $226,000 $49,025,000 $108,000 $4,560,000
Refinancing 12,487 $3,322,005,000 $266,000 $51,805,000 $147,000 $9,122,000
Not Applicable 466 $94,800,000 $203,000 $6,755,000 $63,000 $129,000

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 113,488 $24,542,780,000 $216,000 $13,005,000 $132,000 $9,366,000
Not Provided 18,190 $4,108,670,000 $225,000 $14,255,000 $138,000 $6,792,000
Not applicable 15,011 $7,487,890,000 $498,000 $57,005,000 $174,000 $1,663,000
Black or African American 8,064 $1,929,930,000 $239,000 $2,365,000 $110,000 $2,975,000
Hispanic 8,028 $1,671,190,000 $208,000 $1,905,000 $100,000 $3,217,000
Asian 7,814 $2,110,470,000 $270,000 $4,205,000 $126,000 $3,948,000
American Indian or Alaskan Native 1,472 $258,890,000 $175,000 $1,255,000 $108,000 $1,050,000
Native Hawaiian or Other Pacific Islander 187 $32,085,000 $171,000 $1,705,000 $114,000 $866,000

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) 145,276 $34,774,225,000 $239,000 $57,005,000 $137,000 $9,366,000
FHA-insured (Federal Housing Administration) 19,392 $5,004,790,000 $258,000 $20,995,000 $87,000 $7,780,000
VA-guaranteed (Veterans Administration) 7,762 $2,495,460,000 $321,000 $2,605,000 $104,000 $3,137,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 1,036 $181,300,000 $175,000 $755,000 $75,000 $197,000

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 105,029 $26,920,925,000 $256,000 $57,005,000 $137,000 $8,900,000
Application Denied By Financial Institution 21,906 $3,322,450,000 $151,000 $19,105,000 $102,000 $9,366,000
Application Withdrawn By Applicant 18,732 $5,158,470,000 $275,000 $43,165,000 $133,000 $6,671,000
Loan Purchased By The Institution 17,524 $5,120,765,000 $292,000 $2,025,000 $98,000 $3,088,000
File Closed For Incompleteness 5,480 $1,011,420,000 $184,000 $2,835,000 $123,000 $5,328,000
Application Approved But Not Accepted 4,550 $853,500,000 $187,000 $12,005,000 $138,000 $9,122,000
Preapproval Approved but not Accepted 165 $50,485,000 $305,000 $735,000 $139,000 $779,000
Preapproval Denied by Financial Institution 80 $17,760,000 $222,000 $805,000 $68,000 $287,000

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 145,522 $37,305,345,000 $256,000 $57,005,000 $134,000 $9,122,000
Debt-To-Income Ratio 13,534 $3,058,400,000 $225,000 $45,355,000 $106,000 $7,088,000
Credit History 5,825 $645,095,000 $110,000 $14,255,000 $102,000 $5,160,000
Collateral 3,738 $552,880,000 $147,000 $3,805,000 $131,000 $3,590,000
Credit Application Incomplete 1,876 $332,570,000 $177,000 $4,255,000 $126,000 $3,137,000
Other 1,489 $245,785,000 $165,000 $6,755,000 $125,000 $9,366,000
Unverifiable Information 826 $167,460,000 $202,000 $5,075,000 $132,000 $1,710,000
Insufficient Cash (Downpayment, Closing Cost) 368 $92,390,000 $251,000 $4,505,000 $110,000 $3,600,000
Employment History 285 $55,225,000 $193,000 $1,385,000 $89,000 $2,640,000
Mortgage Insurance Denied 3 $625,000 $208,000 $225,000 $44,000 $44,000
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Mortgage Loan Application Totals in 2023 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 7,183 $ 1,439,095,000 $ 200,000 $ 113,000
MANKATO-NORTH MANKATO, MN 2,265 $ 529,865,000 $ 233,000 $ 111,000
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 116,638 $ 31,399,475,000 $ 269,000 $ 139,000
ROCHESTER, MN 7,019 $ 1,631,755,000 $ 232,000 $ 127,000
ST. CLOUD, MN 5,372 $ 1,052,110,000 $ 195,000 $ 108,000
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Mortgage Loan Application Totals in 2023 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 632 $ 135,940,000 $ 215,000 $ 132,000
Anoka 13,096 $ 2,984,090,000 $ 227,000 $ 115,000
Becker 993 $ 217,045,000 $ 218,000 $ 140,000
Beltrami 800 $ 143,770,000 $ 179,000 $ 109,000
Benton 1,209 $ 224,625,000 $ 185,000 $ 99,000
Big Stone 118 $ 18,300,000 $ 155,000 $ 104,000
Blue Earth 1,472 $ 351,230,000 $ 238,000 $ 108,000
Brown 532 $ 74,380,000 $ 139,000 $ 88,000
Carlton 1,086 $ 192,910,000 $ 177,000 $ 102,000
Carver 4,227 $ 1,303,085,000 $ 308,000 $ 164,000
Cass 1,060 $ 264,510,000 $ 249,000 $ 163,000
Chippewa 205 $ 25,215,000 $ 123,000 $ 79,000
Chisago 2,393 $ 522,695,000 $ 218,000 $ 118,000
Clay 1,923 $ 374,525,000 $ 194,000 $ 106,000
Clearwater 183 $ 25,965,000 $ 141,000 $ 83,000
Cook 197 $ 58,905,000 $ 299,000 $ 218,000
Cottonwood 200 $ 30,870,000 $ 154,000 $ 98,000
Crow Wing 2,173 $ 517,505,000 $ 238,000 $ 159,000
Dakota 15,169 $ 3,861,295,000 $ 254,000 $ 130,000
Dodge 806 $ 144,360,000 $ 179,000 $ 103,000
Douglas 957 $ 214,755,000 $ 224,000 $ 129,000
Faribault 304 $ 36,060,000 $ 118,000 $ 70,000
Fillmore 583 $ 88,495,000 $ 151,000 $ 100,000
Freeborn 780 $ 98,780,000 $ 126,000 $ 81,000
Goodhue 1,230 $ 237,530,000 $ 193,000 $ 107,000
Grant 191 $ 26,895,000 $ 140,000 $ 92,000
Hennepin 37,955 $ 11,608,460,000 $ 305,000 $ 160,000
Houston 511 $ 83,945,000 $ 164,000 $ 103,000
Hubbard 517 $ 108,035,000 $ 208,000 $ 130,000
Isanti 1,842 $ 396,200,000 $ 215,000 $ 107,000
Itasca 1,363 $ 216,265,000 $ 158,000 $ 103,000
Jackson 185 $ 25,345,000 $ 137,000 $ 87,000
Kanabec 645 $ 109,515,000 $ 169,000 $ 96,000
Kandiyohi 911 $ 185,115,000 $ 203,000 $ 110,000
Kittson 68 $ 8,810,000 $ 129,000 $ 91,000
Koochiching 213 $ 31,425,000 $ 147,000 $ 93,000
Lac qui Parle 117 $ 14,545,000 $ 124,000 $ 84,000
Lake 470 $ 91,950,000 $ 195,000 $ 125,000
Lake of the Woods 103 $ 16,545,000 $ 160,000 $ 117,000
Le Sueur 888 $ 193,520,000 $ 217,000 $ 120,000
Lincoln 149 $ 22,825,000 $ 153,000 $ 90,000
Lyon 478 $ 86,850,000 $ 181,000 $ 87,000
Mahnomen 101 $ 14,275,000 $ 141,000 $ 98,000
Marshall 165 $ 23,825,000 $ 144,000 $ 87,000
Martin 381 $ 55,705,000 $ 146,000 $ 99,000
McLeod 1,050 $ 219,500,000 $ 209,000 $ 100,000
Meeker 556 $ 101,360,000 $ 182,000 $ 105,000
Mille Lacs 1,088 $ 191,960,000 $ 176,000 $ 100,000
Morrison 838 $ 166,650,000 $ 198,000 $ 103,000
Mower 1,156 $ 168,030,000 $ 145,000 $ 79,000
Murray 145 $ 23,425,000 $ 161,000 $ 113,000
Nicollet 793 $ 178,635,000 $ 225,000 $ 118,000
Nobles 322 $ 51,720,000 $ 160,000 $ 100,000
Norman 190 $ 24,030,000 $ 126,000 $ 83,000
Olmsted 4,984 $ 1,285,930,000 $ 258,000 $ 137,000
Otter Tail 1,645 $ 328,135,000 $ 199,000 $ 134,000
Pennington 270 $ 43,060,000 $ 159,000 $ 88,000
Pine 1,158 $ 202,280,000 $ 174,000 $ 100,000
Pipestone 264 $ 34,430,000 $ 130,000 $ 101,000
Polk 773 $ 120,955,000 $ 156,000 $ 106,000
Pope 223 $ 40,455,000 $ 181,000 $ 108,000
Ramsey 14,459 $ 3,479,535,000 $ 240,000 $ 117,000
Red Lake 61 $ 7,435,000 $ 121,000 $ 92,000
Redwood 337 $ 41,675,000 $ 123,000 $ 80,000
Renville 387 $ 47,755,000 $ 123,000 $ 79,000
Rice 1,651 $ 354,865,000 $ 214,000 $ 115,000
Rock 234 $ 40,620,000 $ 173,000 $ 95,000
Roseau 287 $ 50,085,000 $ 174,000 $ 94,000
Scott 5,376 $ 1,542,560,000 $ 286,000 $ 154,000
Sherburne 3,924 $ 861,880,000 $ 219,000 $ 119,000
Sibley 467 $ 78,765,000 $ 168,000 $ 93,000
St. Louis 5,627 $ 1,154,235,000 $ 205,000 $ 114,000
Stearns 4,163 $ 827,485,000 $ 198,000 $ 111,000
Steele 986 $ 195,260,000 $ 198,000 $ 97,000
Stevens 189 $ 29,225,000 $ 154,000 $ 108,000
Swift 176 $ 22,350,000 $ 126,000 $ 75,000
Todd 545 $ 96,735,000 $ 177,000 $ 85,000
Traverse 57 $ 5,825,000 $ 102,000 $ 94,000
Wabasha 646 $ 112,970,000 $ 174,000 $ 110,000
Wadena 306 $ 48,650,000 $ 158,000 $ 81,000
Waseca 438 $ 71,000,000 $ 162,000 $ 85,000
Washington 10,092 $ 2,895,430,000 $ 286,000 $ 149,000
Watonwan 186 $ 26,370,000 $ 141,000 $ 79,000
Wilkin 208 $ 30,100,000 $ 144,000 $ 83,000
Winona 1,324 $ 204,630,000 $ 154,000 $ 100,000
Wright 6,129 $ 1,558,765,000 $ 254,000 $ 126,000
Yellow Medicine 175 $ 24,125,000 $ 137,000 $ 84,000

Our comprehensive HMDA mortgage statistics offer invaluable insights into Minnesota's 2023 lending landscape. By analyzing detailed data on mortgage applications, loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can identify key trends shaping the state's housing market.

This in-depth information enables real estate experts, financial analysts, and policymakers to monitor market shifts, assess borrower demographics, and evaluate lender performance effectively. Leverage this powerful data to make informed decisions, conduct thorough market research, and stay ahead in the evolving mortgage industry.
To gain a deeper understanding of Minnesota's mortgage lending environment, download the comprehensive list of lenders and their aggregated HMDA statistics today.

Download the Minnesota Lender List