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 | Farmers & Merchants | GREENSTATE CREDIT UNION |
|---|---|---|
| Total Applications | 114 | 18,672 ▲ |
| Loans Originated | 101 | 12,784 |
| Approval Rate (higher is better) | 88.6% ✓ | 68.5% |
| Denial Rate (lower is better) | 2.6% ✓ | 11.1% |
| Avg Loan Amount | $247,982 | $166,822 |
| Avg Interest Rate (lower is better) | N/A | 7.131% |
| Avg Applicant Income | N/A | $36,000 |
| Applications Denied | 3 | 2,078 |
| Applications Withdrawn | 8 | 2,644 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | Farmers & Merchants | GREENSTATE CREDIT UNION |
|---|---|---|
| Conventional | 113 (99.1%) | 17,780 (95.2%) |
| FHA | — | 586 (3.1%) |
| VA | 1 (0.9%) | 283 (1.5%) |
| USDA | — | 23 (0.1%) |
Loan Purpose Breakdown
| Purpose | Farmers & Merchants | GREENSTATE CREDIT UNION |
|---|---|---|
| Home Purchase | 66 | 11,286 |
| Cash-out Refinancing | 23 | 1,844 |
| Refinancing | 18 | 2,300 |
| Home Improvement | 5 | 2,041 |
| Other | 2 | 1,201 |
Top States by Loan Volume
Summary
- 114 total applications · 101 originated
- Approval rate: 88.6%
- Denial rate: 2.6%
- Avg loan: $247,982
- HQ: Manchester, IA
- 18,672 total applications · 12,784 originated
- Approval rate: 68.5%
- Denial rate: 11.1%
- Avg loan: $166,822
- Avg rate: 7.131%
- HQ: NORTH LIBERTY, IA
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 Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes.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.