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 | M&T BANK | Citibank, NA |
|---|---|---|
| Total Applications | 36,377 ▲ | 54,575 |
| Loans Originated | 20,743 | 14,104 |
| Approval Rate (higher is better) | 57.0% ✓ | 25.8% |
| Denial Rate (lower is better) | 30.9% | 8.6% ✓ |
| Avg Loan Amount | $230,395 | $689,013 |
| Avg Interest Rate (lower is better) | 7.904% | 6.656% ✓ |
| Avg Applicant Income | $38,000 | $35,000 |
| Applications Denied | 11,248 | 4,681 |
| Applications Withdrawn | 2,329 | 8,179 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | M&T BANK | Citibank, NA |
|---|---|---|
| Conventional | 32,433 (89.2%) | 54,220 (99.3%) |
| FHA | 3,020 (8.3%) | 268 (0.5%) |
| VA | 894 (2.5%) | 87 (0.2%) |
| USDA | 30 (0.1%) | — |
Loan Purpose Breakdown
| Purpose | M&T BANK | Citibank, NA |
|---|---|---|
| Home Improvement | 12,073 | 4,104 |
| Home Purchase | 9,753 | 36,705 |
| Refinancing | 6,152 | 3,618 |
| Other | 5,508 | 6,475 |
| Cash-out Refinancing | 2,637 | 3,673 |
Top States by Loan Volume
| State | Originated | Rank |
|---|---|---|
| New York | 6,725 | #5 |
| Pennsylvania | 2,822 | #13 |
| Maryland | 2,700 | #6 |
| Connecticut | 2,127 | #6 |
| Massachusetts | 1,241 | #19 |
| Delaware | 707 | #7 |
| Vermont | 342 | #11 |
| District of Columbia | 121 | #19 |
| State | Originated | Rank |
|---|---|---|
| California | 4,689 | #19 |
| New York | 3,468 | #15 |
| District of Columbia | 213 | #7 |
Summary
- 36,377 total applications · 20,743 originated
- Approval rate: 57.0%
- Denial rate: 30.9%
- Avg loan: $230,395
- Avg rate: 7.904%
- HQ: BUFFALO, NY
- 54,575 total applications · 14,104 originated
- Approval rate: 25.8%
- Denial rate: 8.6%
- Avg loan: $689,013
- Avg rate: 6.656%
- HQ: New York, NY
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 Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes.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.