PlainLender

Dow Credit Union

Midland, MI

Dow Credit Union processed 627 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 418 loans with a 1.6% denial rate. Home Purchase was the primary loan purpose. Based in Midland, MI. The approval rate of 66.7% 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. Dow Credit Union processed 627 HMDA-reported mortgage applications in 2024, originating 418 loans and denying 10 for a denial rate of 1.6% (applicants themselves withdrew 162 files before a decision). The average loan amount was $162,767 at a 7.877% average note rate, and applicants self-reported an average income of $34,000. The lender reports under LEI 549300EWYXV06QXJH078 from Midland, 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Dow Credit Union's 66.7% origination rate tells you how often an application turned into funded money; the 1.6% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Credit history, Collateral, Debt-to-income ratio, which together explain the majority of rejections. Most activity concentrated in Conventional loans (627 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.

627
Applications
418
Originated
1.6%
Denial Rate
$162,767
Avg Loan Amount
Avg Interest Rate: 7.877% Avg Applicant Income: $34,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 627 418 10 $162,767

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for Dow Credit Union (LEI: 549300EWYXV06QXJH078) · 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

Credit history
6
Collateral
4
Debt-to-income ratio
2

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 287 198 $233,815
Other 123 85 $93,699
Home Improvement 109 75 $70,321
Cash-out Refinancing 76 45 $131,316
Refinancing 32 15 $180,625

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 436 67.0% 1.4%
Joint 11 54.5% 9.1%
Asian 9 22.2% 0.0%
Black or African American 9 55.6% 0.0%
American Indian or Alaska Native 5 40.0% 0.0%

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 442 66.1% 1.4%
Hispanic or Latino 14 42.9% 0.0%
Joint 8 50.0% 0.0%

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 Dow Credit Union 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 Dow Credit Union process?
Dow Credit Union processed 627 mortgage applications in the 2023 HMDA reporting year. Of these, 418 were originated (approved and funded), 162 were withdrawn by the applicant, and 10 were denied.
What is Dow Credit Union's mortgage approval rate?
Dow Credit Union has an approval (origination) rate of 66.7%, meaning 66.7% of all applications resulted in a funded mortgage. The denial rate is 1.6%.
What is the average loan amount at Dow Credit Union?
The average mortgage loan amount at Dow Credit Union is $162,767. The average interest rate is 7.877%. The average applicant income is $34,000.
What are the most common reasons for mortgage denial at Dow Credit Union?
The most common reasons for mortgage denial at Dow Credit Union are: Credit history, Collateral, Debt-to-income ratio. In total, 10 applications were denied out of 627 total applications.
What types of mortgage loans does Dow Credit Union offer?
Dow Credit Union processes Conventional loans. The most common type is Conventional with 627 applications and an average loan amount of $162,767.
What loan purposes does Dow Credit Union serve?
Dow Credit Union serves the following loan purposes: Home Purchase (287 applications), Other (123 applications), Home Improvement (109 applications), Cash-out Refinancing (76 applications), Refinancing (32 applications). Home Purchase is the most common purpose.
Where is Dow Credit Union located?
Dow Credit Union is headquartered in Midland, MI. The lender is identified by LEI 549300EWYXV06QXJH078 in HMDA data.
How does Dow Credit Union compare in lending across racial demographics?
Dow Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 67.0% and denial rate of 1.4%; Joint applicants have an approval rate of 54.5% and denial rate of 9.1%; Asian applicants have an approval rate of 22.2% and denial rate of 0.0%. 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.