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 | Minnwest Bank | First Bank & |
|---|---|---|
| Total Applications | 681 | 1,951 ▲ |
| Loans Originated | 502 | 1,358 |
| Approval Rate (higher is better) | 73.7% ✓ | 69.6% |
| Denial Rate (lower is better) | 11.9% ✓ | 12.6% |
| Avg Loan Amount | $264,119 | $219,941 |
| Avg Interest Rate (lower is better) | 7.132% | 7.050% ✓ |
| Avg Applicant Income | $33,000 | $35,000 |
| Applications Denied | 81 | 245 |
| Applications Withdrawn | 89 | 322 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | Minnwest Bank | First Bank & |
|---|---|---|
| Conventional | 680 (99.9%) | 1,666 (85.4%) |
| FHA | — | 193 (9.9%) |
| VA | — | 59 (3.0%) |
| USDA | 1 (0.1%) | 33 (1.7%) |
Loan Purpose Breakdown
| Purpose | Minnwest Bank | First Bank & |
|---|---|---|
| Home Purchase | 285 | 1,231 |
| Home Improvement | 199 | 274 |
| Other | 107 | 146 |
| Refinancing | 79 | 253 |
| Cash-out Refinancing | 11 | 47 |
Top States by Loan Volume
No state data available.
| State | Originated | Rank |
|---|---|---|
| South Dakota | 980 | #2 |
Summary
- 681 total applications · 502 originated
- Approval rate: 73.7%
- Denial rate: 11.9%
- Avg loan: $264,119
- Avg rate: 7.132%
- HQ: Redwood Falls, MN
- 1,951 total applications · 1,358 originated
- Approval rate: 69.6%
- Denial rate: 12.6%
- Avg loan: $219,941
- Avg rate: 7.050%
- HQ: Sioux Falls, SD
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 Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes.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.