PlainLender

DFCU FINANCIAL

DEARBORN, MI

DFCU FINANCIAL processed 5,063 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 2,764 loans with a 14.2% denial rate. Home Purchase was the primary loan purpose. Based in DEARBORN, MI. The approval rate of 54.6% reflects originated loans as a share of all applications. Below you will find a breakdown by loan type, loan purpose, denial reasons, and demographic lending patterns as required by the Home Mortgage Disclosure Act.

Portfolio scale. DFCU FINANCIAL processed 5,063 HMDA-reported mortgage applications in 2024, originating 2,764 loans and denying 720 for a denial rate of 14.2% (applicants themselves withdrew 377 files before a decision). The average loan amount was $177,252 at a 7.210% average note rate, and applicants self-reported an average income of $36,000. The lender reports under LEI 549300W6K140RN8NQB93 from DEARBORN, MI.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% — HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. DFCU FINANCIAL's 54.6% origination rate tells you how often an application turned into funded money; the 14.2% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit history, Other, which together explain the majority of rejections. Most activity concentrated in Conventional loans (5,063 applications).

How to read this page. These figures are aggregate HMDA disclosures — they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting — it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

5,063
Applications
2,764
Originated
14.2%
Denial Rate
$177,252
Avg Loan Amount
Avg Interest Rate: 7.210% Avg Applicant Income: $36,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 5,063 2,764 720 $177,252

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for DFCU FINANCIAL (LEI: 549300W6K140RN8NQB93) · 2023 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
348
Credit history
237
Other
205
Collateral
126
Unverifiable information
52
Employment history
14
Credit application incomplete
3
Insufficient cash
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 1,552 640 $332,448
Home Improvement 1,545 971 $105,770
Other 1,282 694 $95,320
Refinancing 526 363 $126,502
Cash-out Refinancing 158 96 $185,506

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 3,640 58.8% 12.6%
Black or African American 529 42.3% 26.8%
Asian 204 42.6% 19.1%
Joint 76 57.9% 11.8%
American Indian or Alaska Native 26 50.0% 19.2%
Native Hawaiian or Other Pacific Islander 9 55.6% 22.2%
2 or more minority races 6 33.3% 33.3%

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 4,146 56.7% 14.4%
Hispanic or Latino 228 47.4% 18.4%
Joint 98 61.2% 9.2%

Nearby Lenders in MI

Other HMDA-reporting lenders in MI with similar activity. Compare any two side-by-side.

ROCKET MORTGAGE

DETROIT, MI

553,854 apps 361,071 originated 14.9% denied

United Wholesale Mortgage

Pontiac, MI

493,978 apps 366,078 originated 11.7% denied

Flagstar Bank NA

Troy, MI

67,778 apps 29,443 originated 18.5% denied

Lake Michigan Credit Union

Grand Rapids, MI

16,222 apps 12,245 originated 8.3% denied

Northpointe Bank

Grand Rapids, MI

9,882 apps 5,580 originated 5.5% denied
Compare DFCU FINANCIAL vs ROCKET MORTGAGE →

Mortgage Lending Guides

Why Mortgages Get Denied
Common denial reasons and how to improve your chances
Comparing Mortgage Lenders
What to look for when choosing a mortgage lender
Getting the Best Mortgage Rate
Strategies for securing the lowest interest rate
Understanding HMDA Data
How to read and interpret mortgage disclosure data
Denial Rates by Demographics
Demographic patterns in mortgage approval and denial

Explore More Data

Bank Financial Data → Credit Union Data → Financial Advisor Lookup → Home Insurance Costs → Property Tax Data → Rent Price Data →

Frequently Asked Questions

How many mortgage applications did DFCU FINANCIAL process?
DFCU FINANCIAL processed 5,063 mortgage applications in the 2023 HMDA reporting year. Of these, 2,764 were originated (approved and funded), 377 were withdrawn by the applicant, and 720 were denied.
What is DFCU FINANCIAL's mortgage approval rate?
DFCU FINANCIAL has an approval (origination) rate of 54.6%, meaning 54.6% of all applications resulted in a funded mortgage. The denial rate is 14.2%.
What is the average loan amount at DFCU FINANCIAL?
The average mortgage loan amount at DFCU FINANCIAL is $177,252. The average interest rate is 7.210%. The average applicant income is $36,000.
What are the most common reasons for mortgage denial at DFCU FINANCIAL?
The most common reasons for mortgage denial at DFCU FINANCIAL are: Debt-to-income ratio, Credit history, Other. In total, 720 applications were denied out of 5,063 total applications.
What types of mortgage loans does DFCU FINANCIAL offer?
DFCU FINANCIAL processes Conventional loans. The most common type is Conventional with 5,063 applications and an average loan amount of $177,252.
What loan purposes does DFCU FINANCIAL serve?
DFCU FINANCIAL serves the following loan purposes: Home Purchase (1,552 applications), Home Improvement (1,545 applications), Other (1,282 applications), Refinancing (526 applications), Cash-out Refinancing (158 applications). Home Purchase is the most common purpose.
Where is DFCU FINANCIAL located?
DFCU FINANCIAL is headquartered in DEARBORN, MI. The lender is identified by LEI 549300W6K140RN8NQB93 in HMDA data.
How does DFCU FINANCIAL compare in lending across racial demographics?
DFCU FINANCIAL reports demographic lending data under HMDA requirements. White applicants have an approval rate of 58.8% and denial rate of 12.6%; Black or African American applicants have an approval rate of 42.3% and denial rate of 26.8%; Asian applicants have an approval rate of 42.6% and denial rate of 19.1%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology — how this data is sourced, computed, and verified.