Compare Mortgage Lenders
Select two lenders to compare side by side using 2023 HMDA federal data: approval rates, denial rates, loan sizes, loan types, and geographic reach.
Key Metrics
| Metric | BMO Harris Bank | AMERICAN BANK & |
|---|---|---|
| Total Applications | 42,165 ▲ | 624 |
| Loans Originated | 18,166 | 395 |
| Approval Rate (higher is better) | 43.1% | 63.3% ✓ |
| Denial Rate (lower is better) | 29.4% | 14.6% ✓ |
| Avg Loan Amount | $446,361 | $253,670 |
| Avg Interest Rate (lower is better) | 8.317% | 6.898% ✓ |
| Avg Applicant Income | $38,000 | $36,000 |
| Applications Denied | 12,419 | 91 |
| Applications Withdrawn | 5,494 | 135 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | BMO Harris Bank | AMERICAN BANK & |
|---|---|---|
| Conventional | 41,394 (98.2%) | 496 (79.5%) |
| FHA | 709 (1.7%) | 90 (14.4%) |
| VA | 62 (0.1%) | 15 (2.4%) |
| USDA | — | 23 (3.7%) |
Loan Purpose Breakdown
| Purpose | BMO Harris Bank | AMERICAN BANK & |
|---|---|---|
| Home Purchase | 12,408 | 445 |
| Home Improvement | 11,040 | 21 |
| Other | 10,017 | 24 |
| Cash-out Refinancing | 7,675 | 41 |
| Refinancing | 1,025 | 93 |
Top States by Loan Volume
| State | Originated | Rank |
|---|---|---|
| California | 4,641 | #20 |
| Illinois | 3,721 | #9 |
| Wisconsin | 3,095 | #7 |
| State | Originated | Rank |
|---|---|---|
| South Dakota | 357 | #12 |
Summary
- 42,165 total applications · 18,166 originated
- Approval rate: 43.1%
- Denial rate: 29.4%
- Avg loan: $446,361
- Avg rate: 8.317%
- HQ: Chicago, IL
- 624 total applications · 395 originated
- Approval rate: 63.3%
- Denial rate: 14.6%
- Avg loan: $253,670
- Avg rate: 6.898%
- HQ: Sioux Falls, SD
Methodology
Comparisons are drawn from the CFPB 2024 HMDA Snapshot National Loan-Level Dataset, published by the Consumer Financial Protection Bureau and distributed via the FFIEC. Every figure on this page comes from lenders' mandatory HMDA filings — not voluntary marketing claims.
Approval (origination) rate = originated ÷ total applications. Denial rate = denied ÷ total applications. Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes. Denial rates reflect a lender's applicant mix as much as its underwriting stance; compare alongside loan-type mix and geography before drawing conclusions.
Side-by-side comparisons are informational only and do not constitute financial, legal, or mortgage advice. Always obtain and compare written Loan Estimates before applying.