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 | Isabella Bank | Mercantile Bank |
|---|---|---|
| Total Applications | 964 | 3,081 ▲ |
| Loans Originated | 662 | 2,135 |
| Approval Rate (higher is better) | 68.7% | 69.3% ✓ |
| Denial Rate (lower is better) | 15.9% | 12.5% ✓ |
| Avg Loan Amount | $195,571 | $241,394 |
| Avg Interest Rate (lower is better) | 6.380% ✓ | 7.149% |
| Avg Applicant Income | $32,000 | $35,000 |
| Applications Denied | 153 | 386 |
| Applications Withdrawn | 131 | 522 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | Isabella Bank | Mercantile Bank |
|---|---|---|
| Conventional | 957 (99.3%) | 2,909 (94.4%) |
| FHA | — | 167 (5.4%) |
| VA | — | 1 (0.0%) |
| USDA | 7 (0.7%) | 4 (0.1%) |
Loan Purpose Breakdown
| Purpose | Isabella Bank | Mercantile Bank |
|---|---|---|
| Home Purchase | 470 | 1,799 |
| Refinancing | 180 | 359 |
| Home Improvement | 174 | 436 |
| Other | 131 | 286 |
| Cash-out Refinancing | 9 | 201 |
Top States by Loan Volume
No state data available.
| State | Originated | Rank |
|---|---|---|
| Michigan | 2,103 | #20 |
Summary
- 964 total applications · 662 originated
- Approval rate: 68.7%
- Denial rate: 15.9%
- Avg loan: $195,571
- Avg rate: 6.380%
- HQ: Mt Pleasant, MI
- 3,081 total applications · 2,135 originated
- Approval rate: 69.3%
- Denial rate: 12.5%
- Avg loan: $241,394
- Avg rate: 7.149%
- HQ: Wyoming, MI
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 Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes.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.