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 | MSU FEDERAL CREDIT | DART BANK |
|---|---|---|
| Total Applications | 5,712 ▲ | 3,017 |
| Loans Originated | 2,472 | 2,254 |
| Approval Rate (higher is better) | 43.3% | 74.7% ✓ |
| Denial Rate (lower is better) | 12.1% | 5.2% ✓ |
| Avg Loan Amount | $2,200,483 | $315,577 |
| Avg Interest Rate (lower is better) | 7.965% | 6.833% ✓ |
| Avg Applicant Income | $35,000 | $37,000 |
| Applications Denied | 690 | 157 |
| Applications Withdrawn | 125 | 570 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | MSU FEDERAL CREDIT | DART BANK |
|---|---|---|
| Conventional | 5,712 (100.0%) | 2,769 (91.8%) |
| FHA | — | 189 (6.3%) |
| VA | — | 48 (1.6%) |
| USDA | — | 11 (0.4%) |
Loan Purpose Breakdown
| Purpose | MSU FEDERAL CREDIT | DART BANK |
|---|---|---|
| Home Purchase | 3,030 | 2,517 |
| Other | 1,553 | 78 |
| Home Improvement | 652 | 93 |
| Cash-out Refinancing | 339 | 101 |
| Refinancing | 138 | 228 |
Top States by Loan Volume
| State | Originated | Rank |
|---|---|---|
| Michigan | 2,363 | #16 |
No state data available.
Summary
- 5,712 total applications · 2,472 originated
- Approval rate: 43.3%
- Denial rate: 12.1%
- Avg loan: $2,200,483
- Avg rate: 7.965%
- HQ: EAST LANSING, MI
- 3,017 total applications · 2,254 originated
- Approval rate: 74.7%
- Denial rate: 5.2%
- Avg loan: $315,577
- Avg rate: 6.833%
- HQ: MASON, 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 Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes.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.