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 | Centricity Credit Union | Luminate Home Loans, |
|---|---|---|
| Total Applications | 302 | 12,756 ▲ |
| Loans Originated | 196 | 8,817 |
| Approval Rate (higher is better) | 64.9% | 69.1% ✓ |
| Denial Rate (lower is better) | 22.2% | 2.6% ✓ |
| Avg Loan Amount | $90,033 | $349,690 |
| Avg Interest Rate (lower is better) | 7.579% | 6.528% ✓ |
| Avg Applicant Income | $31,000 | $39,000 |
| Applications Denied | 67 | 337 |
| Applications Withdrawn | 22 | 3,513 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | Centricity Credit Union | Luminate Home Loans, |
|---|---|---|
| Conventional | 298 (98.7%) | 9,019 (70.7%) |
| FHA | 4 (1.3%) | 2,818 (22.1%) |
| VA | — | 839 (6.6%) |
| USDA | — | 80 (0.6%) |
Loan Purpose Breakdown
| Purpose | Centricity Credit Union | Luminate Home Loans, |
|---|---|---|
| Other | 131 | 1 |
| Home Improvement | 90 | 2 |
| Home Purchase | 52 | 10,291 |
| Refinancing | 20 | 820 |
| Cash-out Refinancing | 9 | 1,642 |
Top States by Loan Volume
Summary
- 302 total applications · 196 originated
- Approval rate: 64.9%
- Denial rate: 22.2%
- Avg loan: $90,033
- Avg rate: 7.579%
- HQ: Duluth, MN
- 12,756 total applications · 8,817 originated
- Approval rate: 69.1%
- Denial rate: 2.6%
- Avg loan: $349,690
- Avg rate: 6.528%
- HQ: Minneapolis, MN
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 Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes.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.