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 | SouthPoint Financial Credit | FRANDSEN BANK & |
|---|---|---|
| Total Applications | 330 | 1,414 ▲ |
| Loans Originated | 275 | 1,065 |
| Approval Rate (higher is better) | 83.3% ✓ | 75.3% |
| Denial Rate (lower is better) | 6.1% ✓ | 7.9% |
| Avg Loan Amount | $150,758 | $231,499 |
| Avg Interest Rate (lower is better) | N/A | 7.227% |
| Avg Applicant Income | N/A | $33,000 |
| Applications Denied | 20 | 112 |
| Applications Withdrawn | 29 | 225 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | SouthPoint Financial Credit | FRANDSEN BANK & |
|---|---|---|
| Conventional | 330 (100.0%) | 1,403 (99.2%) |
| FHA | — | 2 (0.1%) |
| VA | — | 2 (0.1%) |
| USDA | — | 7 (0.5%) |
Loan Purpose Breakdown
| Purpose | SouthPoint Financial Credit | FRANDSEN BANK & |
|---|---|---|
| Home Purchase | 181 | 743 |
| Refinancing | 70 | 127 |
| Home Improvement | 41 | 305 |
| Cash-out Refinancing | 22 | 55 |
| Other | 16 | 184 |
Summary
- 330 total applications · 275 originated
- Approval rate: 83.3%
- Denial rate: 6.1%
- Avg loan: $150,758
- HQ: Sleepy Eye, MN
- 1,414 total applications · 1,065 originated
- Approval rate: 75.3%
- Denial rate: 7.9%
- Avg loan: $231,499
- Avg rate: 7.227%
- HQ: LONSDALE, 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 Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes.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.