PlainLender

Gate City Bank

Fargo, ND

Gate City Bank processed 4,682 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 3,056 loans with a 10.3% denial rate. Home Purchase was the primary loan purpose. Based in Fargo, ND. The approval rate of 65.3% 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. Gate City Bank processed 4,682 HMDA-reported mortgage applications in 2024, originating 3,056 loans and denying 480 for a denial rate of 10.3% (applicants themselves withdrew 366 files before a decision). The average loan amount was $184,925 at a 6.923% average note rate, and applicants self-reported an average income of $35,000. The lender reports under LEI 549300TQVOMKNKFOH392 from Fargo, ND.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Gate City Bank's 65.3% origination rate tells you how often an application turned into funded money; the 10.3% 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, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (4,050 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.

4,682
Applications
3,056
Originated
10.3%
Denial Rate
$184,925
Avg Loan Amount
Avg Interest Rate: 6.923% Avg Applicant Income: $35,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 4,050 2,806 466 $175,385
FHA 487 174 11 $233,070
VA 119 69 3 $309,538
USDA 26 7 0 $198,846

Top loan types — Gate City Bank

Top loan types — Gate City Bank Horizontal bar chart of the top 4 items by value (applications). Top loan types — Gate City Bank Top 4 1. Conventional 4,050 2. FHA 487 3. VA 119 4. USDA 26 Top 5 loan types by application volume at Gate City Bank (HMDA 2023). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for Gate City Bank (LEI: 549300TQVOMKNKFOH392) · 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
254
Credit history
161
Collateral
100
Other
32
Credit application incomplete
12
Employment history
3
Unverifiable information
2

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 2,363 1,411 $270,281
Home Improvement 1,029 724 $64,708
Other 686 477 $74,155
Refinancing 520 398 $165,096
Cash-out Refinancing 84 46 $283,810

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 3,949 66.8% 9.8%
Joint 85 56.5% 7.1%
American Indian or Alaska Native 63 38.1% 11.1%
Black or African American 60 23.3% 15.0%
Asian 50 42.0% 14.0%
Native Hawaiian or Other Pacific Islander 3 33.3% 0.0%
2 or more minority races 1 0.0% 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 3,956 66.3% 9.5%
Hispanic or Latino 92 40.2% 12.0%
Joint 89 64.0% 12.4%

Nearby Lenders in ND

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

Bell Bank

Fargo, ND

13,496 apps 10,872 originated 5.8% denied

ALERUS FINANCIAL NA

GRAND FORKS, ND

2,632 apps 2,038 originated 6.6% denied

First International Bank & Trust

Minot, ND

1,791 apps 1,437 originated 6.6% denied

FIRST COMMUNITY CREDIT UNION

JAMESTOWN, ND

1,333 apps 512 originated 18.4% denied

Town and Country Credit Union

MINOT, ND

770 apps 609 originated 3.0% denied
Compare Gate City Bank vs Bell Bank →

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 Gate City Bank process?
Gate City Bank processed 4,682 mortgage applications in the 2023 HMDA reporting year. Of these, 3,056 were originated (approved and funded), 366 were withdrawn by the applicant, and 480 were denied.
What is Gate City Bank's mortgage approval rate?
Gate City Bank has an approval (origination) rate of 65.3%, meaning 65.3% of all applications resulted in a funded mortgage. The denial rate is 10.3%.
What is the average loan amount at Gate City Bank?
The average mortgage loan amount at Gate City Bank is $184,925. The average interest rate is 6.923%. The average applicant income is $35,000.
What are the most common reasons for mortgage denial at Gate City Bank?
The most common reasons for mortgage denial at Gate City Bank are: Debt-to-income ratio, Credit history, Collateral. In total, 480 applications were denied out of 4,682 total applications.
What types of mortgage loans does Gate City Bank offer?
Gate City Bank processes Conventional, FHA, VA, USDA loans. The most common type is Conventional with 4,050 applications and an average loan amount of $175,385.
What loan purposes does Gate City Bank serve?
Gate City Bank serves the following loan purposes: Home Purchase (2,363 applications), Home Improvement (1,029 applications), Other (686 applications), Refinancing (520 applications), Cash-out Refinancing (84 applications). Home Purchase is the most common purpose.
Where is Gate City Bank located?
Gate City Bank is headquartered in Fargo, ND. The lender is identified by LEI 549300TQVOMKNKFOH392 in HMDA data.
How does Gate City Bank compare in lending across racial demographics?
Gate City Bank reports demographic lending data under HMDA requirements. White applicants have an approval rate of 66.8% and denial rate of 9.8%; Joint applicants have an approval rate of 56.5% and denial rate of 7.1%; American Indian or Alaska Native applicants have an approval rate of 38.1% and denial rate of 11.1%. 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.