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 | Luminate Home Loans, | TRUSTONE FINANCIAL CREDIT |
|---|---|---|
| Total Applications | 12,756 ▲ | 7,967 |
| Loans Originated | 8,817 | 4,994 |
| Approval Rate (higher is better) | 69.1% ✓ | 62.7% |
| Denial Rate (lower is better) | 2.6% ✓ | 19.9% |
| Avg Loan Amount | $349,690 | $154,718 |
| Avg Interest Rate (lower is better) | 6.528% ✓ | 7.651% |
| Avg Applicant Income | $39,000 | $35,000 |
| Applications Denied | 337 | 1,586 |
| Applications Withdrawn | 3,513 | 1,219 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | Luminate Home Loans, | TRUSTONE FINANCIAL CREDIT |
|---|---|---|
| Conventional | 9,019 (70.7%) | 7,826 (98.2%) |
| FHA | 2,818 (22.1%) | 114 (1.4%) |
| VA | 839 (6.6%) | 25 (0.3%) |
| USDA | 80 (0.6%) | 2 (0.0%) |
Loan Purpose Breakdown
| Purpose | Luminate Home Loans, | TRUSTONE FINANCIAL CREDIT |
|---|---|---|
| Home Purchase | 10,291 | 1,928 |
| Cash-out Refinancing | 1,642 | 96 |
| Refinancing | 820 | 1,440 |
| Home Improvement | 2 | 2,428 |
| Other | 1 | 2,075 |
Top States by Loan Volume
Summary
- 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
- 7,967 total applications · 4,994 originated
- Approval rate: 62.7%
- Denial rate: 19.9%
- Avg loan: $154,718
- Avg rate: 7.651%
- HQ: PLYMOUTH, 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 Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes.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.