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 | Southern Michigan Bank | Union Home Mortgage |
|---|---|---|
| Total Applications | 348 | 36,843 ▲ |
| Loans Originated | 249 | 27,440 |
| Approval Rate (higher is better) | 71.6% | 74.5% ✓ |
| Denial Rate (lower is better) | 10.6% | 5.3% ✓ |
| Avg Loan Amount | $214,569 | $278,227 |
| Avg Interest Rate (lower is better) | N/A | 6.909% |
| Avg Applicant Income | N/A | $38,000 |
| Applications Denied | 37 | 1,963 |
| Applications Withdrawn | 9 | 3,704 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | Southern Michigan Bank | Union Home Mortgage |
|---|---|---|
| Conventional | 348 (100.0%) | 25,551 (69.4%) |
| FHA | — | 7,312 (19.8%) |
| VA | — | 2,967 (8.1%) |
| USDA | — | 1,013 (2.7%) |
Loan Purpose Breakdown
| Purpose | Southern Michigan Bank | Union Home Mortgage |
|---|---|---|
| Home Purchase | 196 | 29,892 |
| Home Improvement | 46 | 766 |
| Cash-out Refinancing | 41 | 2,035 |
| Refinancing | 38 | 3,085 |
| Other | 27 | 1,065 |
Top States by Loan Volume
Summary
- 348 total applications · 249 originated
- Approval rate: 71.6%
- Denial rate: 10.6%
- Avg loan: $214,569
- HQ: Coldwater, MI
- 36,843 total applications · 27,440 originated
- Approval rate: 74.5%
- Denial rate: 5.3%
- Avg loan: $278,227
- Avg rate: 6.909%
- HQ: Strongsville, 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 Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes.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.