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 | NEW AMERICAN FUNDING, | Merchants Bank, National |
|---|---|---|
| Total Applications | 118,479 ▲ | 1,743 |
| Loans Originated | 48,639 | 1,480 |
| Approval Rate (higher is better) | 41.1% | 84.9% ✓ |
| Denial Rate (lower is better) | 11.1% | 4.8% ✓ |
| Avg Loan Amount | $272,211 | $194,495 |
| Avg Interest Rate (lower is better) | 6.811% | 6.388% ✓ |
| Avg Applicant Income | $40,000 | $34,000 |
| Applications Denied | 13,112 | 84 |
| Applications Withdrawn | 29,434 | 140 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | NEW AMERICAN FUNDING, | Merchants Bank, National |
|---|---|---|
| Conventional | 62,687 (52.9%) | 1,704 (97.8%) |
| FHA | 46,322 (39.1%) | 25 (1.4%) |
| VA | 9,006 (7.6%) | 8 (0.5%) |
| USDA | 464 (0.4%) | 6 (0.3%) |
Loan Purpose Breakdown
| Purpose | NEW AMERICAN FUNDING, | Merchants Bank, National |
|---|---|---|
| Home Purchase | 48,417 | 900 |
| Cash-out Refinancing | 45,998 | 95 |
| Refinancing | 11,039 | 331 |
| Home Improvement | 6,828 | 185 |
| Other | 6,197 | 232 |
Top States by Loan Volume
Summary
- 118,479 total applications · 48,639 originated
- Approval rate: 41.1%
- Denial rate: 11.1%
- Avg loan: $272,211
- Avg rate: 6.811%
- HQ: TUSTIN, CA
- 1,743 total applications · 1,480 originated
- Approval rate: 84.9%
- Denial rate: 4.8%
- Avg loan: $194,495
- Avg rate: 6.388%
- HQ: Winona, 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 Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes.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.