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 | UNITED FEDERAL CREDIT | Honor Credit Union |
|---|---|---|
| Total Applications | 4,818 ▲ | 2,321 |
| Loans Originated | 2,888 | 1,381 |
| Approval Rate (higher is better) | 59.9% ✓ | 59.5% |
| Denial Rate (lower is better) | 26.2% | 25.2% ✓ |
| Avg Loan Amount | $165,046 | $128,279 |
| Avg Interest Rate (lower is better) | 7.990% ✓ | 8.159% |
| Avg Applicant Income | $37,000 | $35,000 |
| Applications Denied | 1,264 | 585 |
| Applications Withdrawn | 506 | 277 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | UNITED FEDERAL CREDIT | Honor Credit Union |
|---|---|---|
| Conventional | 4,654 (96.6%) | 2,283 (98.4%) |
| FHA | 140 (2.9%) | 32 (1.4%) |
| VA | 11 (0.2%) | — |
| USDA | 13 (0.3%) | 6 (0.3%) |
Loan Purpose Breakdown
| Purpose | UNITED FEDERAL CREDIT | Honor Credit Union |
|---|---|---|
| Home Improvement | 1,495 | 766 |
| Home Purchase | 1,418 | 691 |
| Other | 1,130 | 489 |
| Refinancing | 511 | 69 |
| Cash-out Refinancing | 264 | 306 |
Summary
- 4,818 total applications · 2,888 originated
- Approval rate: 59.9%
- Denial rate: 26.2%
- Avg loan: $165,046
- Avg rate: 7.990%
- HQ: ST. JOSEPH, MI
- 2,321 total applications · 1,381 originated
- Approval rate: 59.5%
- Denial rate: 25.2%
- Avg loan: $128,279
- Avg rate: 8.159%
- HQ: Berrien Springs, 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 Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes.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.