Traverse County, MN Mortgage Lenders & HMDA Data, 2023
In 2023, lenders reported 57 mortgage applications in Traverse County, MN totaling $5.8 million, down 23% from 2022. The average application was for $102,000, and applicants reported an average income of $94,000. 56% of applications resulted in an originated loan and 23% were denied. The most active lender was Star Bank, with 8 applications, followed by First Western Bank & Trust and Merchants Bank, National Association.
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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 | 57 |
| Total Mortgage Loan Application Amount | $5,825,000 |
| Average Mortgage Loan Application Amount | $102,000 |
| Highest Mortgage Loan Application Amount | $355,000 |
| Average Applicant Income | $94,000 |
| Highest Applicant Income | $751,000 |
| Mortgage Lender | Phone Number | Mortgage Lender Assets | Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications |
|---|---|---|---|---|
| Star Bank 100 STATE HWY 55 EAST MAPLE LAKE, MN 55358 |
* | $ 380,971,000 | 8 | $ 780,000 |
| First Western Bank & Trust 900 SOUTH BROADWAY MINOT, ND 58701 |
* | $ 2,022,880,000 | 3 | $ 465,000 |
| Merchants Bank, National Association 102 EAST THIRD STREET WINONA, MN 55987 |
* | $ 2,576,574,000 | 2 | $ 260,000 |
| Gate City Bank 500 2ND AVE N FARGO, ND 58102 |
* | $ 3,392,287,000 | 2 | $ 60,000 |
| Affinity Plus Federal Credit Union 175 WEST LAFAYETTE FRONTAGE ROAD SAINT PAUL, MN 55107 |
* | $ 4,078,225,000 | 2 | $ 70,000 |
| US Bank, N.A. 425 WALNUT STREET CINCINNATI, OH 45202 |
* | $ 585,135,605,000 | 2 | $ 190,000 |
| Riverwood Bank 14540 DELLWOOD DR PO BOX 2947 BAXTER, MN 56425 |
* | $ 587,264,000 | 2 | $ 320,000 |
| Bell Bank 3100 13TH AVE S FARGO, ND 58103 |
* | $ 12,493,973,000 | 2 | $ 230,000 |
| Bank of the West 180 MONTGOMERY STREET SAN FRANCISCO, CA 94104 |
* | $ 91,580,361,000 | 2 | $ 50,000 |
| United Wholesale Mortgage 40600 ANN ARBOR RD E STE 201 PLYMOUTH, MI 48170 |
* | $ -1,000 | 2 | $ 170,000 |
| Bremer Bank NA 372 SAINT PETER STREET SAINT PAUL, MN 55102 |
* | $ 15,939,263,000 | 2 | $ 120,000 |
| Agcountry Farm Credit Services, Flca 1900 44TH ST S - PO BOX 6020 FARGO, ND 58108 |
* | $ -1,000 | 2 | $ 250,000 |
| loanDepot.com LLC 6561 IRVINE CENTER DRIVE IRVINE, CA 92618 |
* | $ -1,000 | 1 | $ 105,000 |
| Coastal Community Bank PO BOX 12220 EVERETT, WA 98203 |
* | $ 3,141,703,000 | 1 | $ 15,000 |
| First Savings Bank 201 N 3RD ST BERESFORD, SD 57004 |
* | $ 1,371,445,000 | 1 | $ 45,000 |
| Hiway Credit Union 111 EMPIRE DRIVE SAINT PAUL, MN 55103 |
* | $ 1,740,477,000 | 1 | $ 35,000 |
| New American Funding, Llc. 14511 MYFORD ROAD, SUITE 100 TUSTIN, CA 92780 |
* | $ -1,000 | 1 | $ 55,000 |
| First Bank & Trust 520 6TH STREET BROOKINGS, SD 57006 |
* | $ 4,377,534,000 | 1 | $ 345,000 |
| M&T Bank 701 SENECA STREET - SUITE 330N BUFFALO, NY 14203 |
* | $ 200,262,969,000 | 1 | $ 145,000 |
| Crescent Mortgage Company MORGANTOWN, WV 26505 |
* | $ -1,000 | 1 | $ 355,000 |
| Cardinal Financial Company, Li 3530 TORINGDON WAY STE 200 CHARLOTTE, NC 28277 |
* | $ -1,000 | 1 | $ 175,000 |
| Ally Bank CHARLOTTE, NC 28202 |
* | $ 181,890,000,000 | 1 | $ 125,000 |
| Navy Federal Credit Union 820 FOLLIN LANE VIENNA, VA 22180 |
* | $ 156,645,099,000 | 1 | $ 205,000 |
| Bay Equity LLC DETROIT, MI 48226 |
* | $ -1,000 | 1 | $ 145,000 |
| Kensington Bank 11 CENTRAL AVE N KENSINGTON, MN 56343 |
* | $ 359,764,000 | 1 | $ 65,000 |
| Magnifi Financial Credit Union 20 4TH AVE SE MELROSE, MN 56352 |
* | $ 2,123,114,000 | 1 | $ 95,000 |
| BMO Harris Bank NA 111 W. MONROE CHICAGO, IL 60606 |
* | $ 176,980,258,000 | 1 | $ 25,000 |
| Town and Country Credit Union 615 S BROADWAY ST MINOT, ND 58701 |
* | $ 635,992,000 | 1 | $ 95,000 |
| Plaza Home Mortgage, Inc 4820 EASTGATE MALL, STE 100 SAN DIEGO, CA 92121 |
* | $ -1,000 | 1 | $ 185,000 |
| Newrez LLC FORT WASHINGTON, PA 19034 |
* | $ -1,000 | 1 | $ 145,000 |
| Royal Credit Union 200 RIVERFRONT TERRACE EAU CLAIRE, WI 54702 |
* | $ 4,552,579,000 | 1 | $ 35,000 |
| Frandsen Bank & Trust 116 CENTRAL STREET WEST LONSDALE, MN 55046 |
* | $ 3,163,444,000 | 1 | $ 15,000 |
| Consumer Real Estate Finance Co dba Society Mortgage 330 SW 2ND ST #111 FORT LAUDERDALE, FL 33312 |
* | $ -1,000 | 1 | $ 135,000 |
| First Interstate Bank PO BOX 30918 BILLINGS, MT 59101 |
* | $ 32,216,733,000 | 1 | $ 25,000 |
| Wells Fargo Bank NA MINNEAPOLIS, MN 55415 |
* | $ 1,717,531,000,000 | 1 | $ 45,000 |
| Black Hills Federal Credit Union PO BOX 1420-225 MAIN ST RAPID CITY, SD 57702 |
* | $ 2,170,479,000 | 1 | $ 45,000 |
The tables below break down 2023 mortgage applications in Traverse 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 Traverse 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 | 29 | $3,675,000 | $126,000 | $345,000 | $93,000 | $300,000 |
| Other Purpose | 8 | $710,000 | $88,000 | $355,000 | $92,000 | $266,000 |
| Cash-out Refinancing | 7 | $725,000 | $103,000 | $185,000 | $154,000 | $751,000 |
| Home Improvement | 7 | $185,000 | $26,000 | $35,000 | $59,000 | $114,000 |
| Refinancing | 6 | $530,000 | $88,000 | $175,000 | $70,000 | $131,000 |
| 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 | 45 | $4,625,000 | $102,000 | $355,000 | $84,000 | $266,000 |
| Not Provided | 5 | $295,000 | $59,000 | $105,000 | $39,000 | $60,000 |
| Hispanic | 4 | $440,000 | $110,000 | $175,000 | $118,000 | $300,000 |
| American Indian or Alaskan Native | 1 | $185,000 | $185,000 | $185,000 | $751,000 | $751,000 |
| Black or African American | 1 | $135,000 | $135,000 | $135,000 | $47,000 | $47,000 |
| Not applicable | 1 | $145,000 | $145,000 | $145,000 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 45 | $4,405,000 | $97,000 | $355,000 | $105,000 | $751,000 |
| FHA-insured (Federal Housing Administration) | 7 | $665,000 | $95,000 | $135,000 | $41,000 | $54,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 3 | $375,000 | $125,000 | $145,000 | $53,000 | $64,000 |
| VA-guaranteed (Veterans Administration) | 2 | $380,000 | $190,000 | $205,000 | $61,000 | $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 | 32 | $3,680,000 | $115,000 | $355,000 | $119,000 | $751,000 |
| Application Denied By Financial Institution | 13 | $645,000 | $49,000 | $155,000 | $57,000 | $114,000 |
| Application Withdrawn By Applicant | 5 | $895,000 | $179,000 | $345,000 | $78,000 | $128,000 |
| Application Approved But Not Accepted | 3 | $135,000 | $45,000 | $95,000 | $69,000 | $110,000 |
| Loan Purchased By The Institution | 2 | $240,000 | $120,000 | $145,000 | $43,000 | $43,000 |
| File Closed For Incompleteness | 1 | $55,000 | $55,000 | $55,000 | $17,000 | $17,000 |
| Preapproval Denied by Financial Institution | 1 | $175,000 | $175,000 | $175,000 | $44,000 | $44,000 |
| Preapproval Approved but not Accepted | 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 | 34 | $4,160,000 | $122,000 | $355,000 | $113,000 | $751,000 |
| Debt-To-Income Ratio | 14 | $1,270,000 | $90,000 | $195,000 | $72,000 | $131,000 |
| Collateral | 4 | $190,000 | $47,000 | $95,000 | $56,000 | $92,000 |
| Credit History | 2 | $70,000 | $35,000 | $45,000 | $19,000 | $23,000 |
| Credit Application Incomplete | 1 | $25,000 | $25,000 | $25,000 | $89,000 | $89,000 |
| Other | 1 | $25,000 | $25,000 | $25,000 | $114,000 | $114,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $85,000 | $85,000 | $85,000 | $42,000 | $42,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 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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