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Heartland Credit Union

Madison, WI

Heartland Credit Union processed 530 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 410 loans with a 7.2% denial rate. Home Purchase was the primary loan purpose. Based in Madison, WI. The approval rate of 77.4% 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. Heartland Credit Union processed 530 HMDA-reported mortgage applications in 2024, originating 410 loans and denying 38 for a denial rate of 7.2% (applicants themselves withdrew 58 files before a decision). The average loan amount was $153,736 at a 7.478% average note rate, and applicants self-reported an average income of $33,000. The lender reports under LEI 549300LENIDYCDF93Y54 from Madison, WI.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Heartland Credit Union's 77.4% origination rate tells you how often an application turned into funded money; the 7.2% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Credit history, Debt-to-income ratio, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (530 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.

530
Applications
410
Originated
7.2%
Denial Rate
$153,736
Avg Loan Amount
Avg Interest Rate: 7.478% Avg Applicant Income: $33,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 530 410 38 $153,736

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for Heartland Credit Union (LEI: 549300LENIDYCDF93Y54) · 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
17
Debt-to-income ratio
15
Collateral
10
Other
6
Employment history
3
Insufficient cash
2
Unverifiable information
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 154 123 $279,286
Home Improvement 144 117 $70,000
Other 110 69 $125,727
Refinancing 68 57 $101,912
Cash-out Refinancing 54 44 $141,296

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 449 79.7% 6.9%
Joint 8 87.5% 12.5%
Black or African American 5 60.0% 20.0%
Asian 3 100.0% 0.0%
American Indian or Alaska Native 2 50.0% 50.0%

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 437 80.1% 7.3%
Joint 9 88.9% 11.1%
Hispanic or Latino 5 100.0% 0.0%

Nearby Lenders in WI

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

FAIRWAY INDEPENDENT MORT CORP

MADISON, WI

102,501 apps 74,401 originated 4.7% denied

Summit Credit Union

Cottage Grove, WI

15,990 apps 9,929 originated 10.9% denied

UW CREDIT UNION

MADISON, WI

11,177 apps 8,477 originated 12.3% denied

Associated Bank NA

Green Bay, WI

10,999 apps 6,532 originated 24.4% denied

WATERSTONE MORTGAGE CORPORATION

BROOKFIELD, WI

10,792 apps 7,819 originated 4.5% denied
Compare Heartland Credit Union vs FAIRWAY INDEPENDENT MORT CORP →

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 Heartland Credit Union process?
Heartland Credit Union processed 530 mortgage applications in the 2023 HMDA reporting year. Of these, 410 were originated (approved and funded), 58 were withdrawn by the applicant, and 38 were denied.
What is Heartland Credit Union's mortgage approval rate?
Heartland Credit Union has an approval (origination) rate of 77.4%, meaning 77.4% of all applications resulted in a funded mortgage. The denial rate is 7.2%.
What is the average loan amount at Heartland Credit Union?
The average mortgage loan amount at Heartland Credit Union is $153,736. The average interest rate is 7.478%. The average applicant income is $33,000.
What are the most common reasons for mortgage denial at Heartland Credit Union?
The most common reasons for mortgage denial at Heartland Credit Union are: Credit history, Debt-to-income ratio, Collateral. In total, 38 applications were denied out of 530 total applications.
What types of mortgage loans does Heartland Credit Union offer?
Heartland Credit Union processes Conventional loans. The most common type is Conventional with 530 applications and an average loan amount of $153,736.
What loan purposes does Heartland Credit Union serve?
Heartland Credit Union serves the following loan purposes: Home Purchase (154 applications), Home Improvement (144 applications), Other (110 applications), Refinancing (68 applications), Cash-out Refinancing (54 applications). Home Purchase is the most common purpose.
Where is Heartland Credit Union located?
Heartland Credit Union is headquartered in Madison, WI. The lender is identified by LEI 549300LENIDYCDF93Y54 in HMDA data.
How does Heartland Credit Union compare in lending across racial demographics?
Heartland Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 79.7% and denial rate of 6.9%; Joint applicants have an approval rate of 87.5% and denial rate of 12.5%; Black or African American applicants have an approval rate of 60.0% and denial rate of 20.0%. 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.