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 | Mercantile Bank | Huntington National Bank |
|---|---|---|
| Total Applications | 3,081 | 99,675 ▲ |
| Loans Originated | 2,135 | 52,025 |
| Approval Rate (higher is better) | 69.3% ✓ | 52.2% |
| Denial Rate (lower is better) | 12.5% ✓ | 28.8% |
| Avg Loan Amount | $241,394 | $179,684 |
| Avg Interest Rate (lower is better) | 7.149% ✓ | 8.214% |
| Avg Applicant Income | $35,000 | $37,000 |
| Applications Denied | 386 | 28,712 |
| Applications Withdrawn | 522 | 12,820 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | Mercantile Bank | Huntington National Bank |
|---|---|---|
| Conventional | 2,909 (94.4%) | 95,173 (95.5%) |
| FHA | 167 (5.4%) | 3,507 (3.5%) |
| VA | 1 (0.0%) | 900 (0.9%) |
| USDA | 4 (0.1%) | 95 (0.1%) |
Loan Purpose Breakdown
| Purpose | Mercantile Bank | Huntington National Bank |
|---|---|---|
| Home Purchase | 1,799 | 24,827 |
| Home Improvement | 436 | 29,270 |
| Refinancing | 359 | 12,927 |
| Other | 286 | 19,824 |
| Cash-out Refinancing | 201 | 12,809 |
Top States by Loan Volume
Summary
- 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
- 99,675 total applications · 52,025 originated
- Approval rate: 52.2%
- Denial rate: 28.8%
- Avg loan: $179,684
- Avg rate: 8.214%
- HQ: Columbus, OH
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 Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes.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.