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 | HomeTown Bank | FRANDSEN BANK & |
|---|---|---|
| Total Applications | 337 | 1,414 ▲ |
| Loans Originated | 283 | 1,065 |
| Approval Rate (higher is better) | 84.0% ✓ | 75.3% |
| Denial Rate (lower is better) | 6.5% ✓ | 7.9% |
| Avg Loan Amount | $243,872 | $231,499 |
| Avg Interest Rate (lower is better) | 7.050% ✓ | 7.227% |
| Avg Applicant Income | $32,000 | $33,000 |
| Applications Denied | 22 | 112 |
| Applications Withdrawn | 22 | 225 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | HomeTown Bank | FRANDSEN BANK & |
|---|---|---|
| Conventional | 336 (99.7%) | 1,403 (99.2%) |
| FHA | — | 2 (0.1%) |
| VA | — | 2 (0.1%) |
| USDA | 1 (0.3%) | 7 (0.5%) |
Loan Purpose Breakdown
| Purpose | HomeTown Bank | FRANDSEN BANK & |
|---|---|---|
| Home Purchase | 158 | 743 |
| Other | 56 | 184 |
| Cash-out Refinancing | 53 | 55 |
| Refinancing | 52 | 127 |
| Home Improvement | 18 | 305 |
Summary
- 337 total applications · 283 originated
- Approval rate: 84.0%
- Denial rate: 6.5%
- Avg loan: $243,872
- Avg rate: 7.050%
- HQ: Carver, MN
- 1,414 total applications · 1,065 originated
- Approval rate: 75.3%
- Denial rate: 7.9%
- Avg loan: $231,499
- Avg rate: 7.227%
- HQ: LONSDALE, 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 Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes.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.