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 | Florence Bank | UMassFive College Federal |
|---|---|---|
| Total Applications | 768 ▲ | 595 |
| Loans Originated | 475 | 365 |
| Approval Rate (higher is better) | 61.8% ✓ | 61.3% |
| Denial Rate (lower is better) | 13.2% | 13.1% ✓ |
| Avg Loan Amount | $239,219 | $175,840 |
| Avg Interest Rate (lower is better) | 5.950% ✓ | 7.658% |
| Avg Applicant Income | $34,000 | $37,000 |
| Applications Denied | 101 | 78 |
| Applications Withdrawn | 107 | 7 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | Florence Bank | UMassFive College Federal |
|---|---|---|
| Conventional | 768 (100.0%) | 595 (100.0%) |
| FHA | — | — |
| VA | — | — |
| USDA | — | — |
Loan Purpose Breakdown
| Purpose | Florence Bank | UMassFive College Federal |
|---|---|---|
| Home Purchase | 317 | 63 |
| Other | 172 | 268 |
| Refinancing | 159 | 32 |
| Home Improvement | 115 | 225 |
| Cash-out Refinancing | 5 | 7 |
Summary
- 768 total applications · 475 originated
- Approval rate: 61.8%
- Denial rate: 13.2%
- Avg loan: $239,219
- Avg rate: 5.950%
- HQ: Florence, MA
- 595 total applications · 365 originated
- Approval rate: 61.3%
- Denial rate: 13.1%
- Avg loan: $175,840
- Avg rate: 7.658%
- HQ: Hadley, MA
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 Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes.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.