PlainLender

LOC CREDIT UNION

FARMINGTON, MI

LOC CREDIT UNION processed 805 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 510 loans with a 13.0% denial rate. Other was the primary loan purpose. Based in FARMINGTON, MI. The approval rate of 63.4% 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. LOC CREDIT UNION processed 805 HMDA-reported mortgage applications in 2024, originating 510 loans and denying 105 for a denial rate of 13.0% (applicants themselves withdrew 114 files before a decision). The average loan amount was $87,571 at a 6.628% average note rate, and applicants self-reported an average income of $35,000. The lender reports under LEI 549300ZX2TCCVHMJN581 from FARMINGTON, 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. LOC CREDIT UNION's 63.4% origination rate tells you how often an application turned into funded money; the 13.0% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Credit history, Other, Debt-to-income ratio, which together explain the majority of rejections. Most activity concentrated in Conventional loans (805 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.

805
Applications
510
Originated
13.0%
Denial Rate
$87,571
Avg Loan Amount
Avg Interest Rate: 6.628% Avg Applicant Income: $35,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 805 510 105 $87,571

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for LOC CREDIT UNION (LEI: 549300ZX2TCCVHMJN581) · 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
57
Other
55
Debt-to-income ratio
37
Collateral
26
Unverifiable information
5
Insufficient cash
5
Employment history
2

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Other 341 224 $64,765
Home Improvement 290 183 $74,172
Refinancing 88 50 $102,841
Home Purchase 71 44 $202,042
Cash-out Refinancing 15 9 $233,667

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 535 68.8% 10.3%
Black or African American 42 19.1% 42.9%
Asian 16 50.0% 12.5%
American Indian or Alaska Native 5 80.0% 0.0%
Joint 4 75.0% 25.0%
Native Hawaiian or Other Pacific Islander 1 100.0% 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 584 65.2% 12.5%
Hispanic or Latino 13 61.5% 15.4%
Joint 5 60.0% 20.0%

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 LOC 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 LOC CREDIT UNION process?
LOC CREDIT UNION processed 805 mortgage applications in the 2023 HMDA reporting year. Of these, 510 were originated (approved and funded), 114 were withdrawn by the applicant, and 105 were denied.
What is LOC CREDIT UNION's mortgage approval rate?
LOC CREDIT UNION has an approval (origination) rate of 63.4%, meaning 63.4% of all applications resulted in a funded mortgage. The denial rate is 13.0%.
What is the average loan amount at LOC CREDIT UNION?
The average mortgage loan amount at LOC CREDIT UNION is $87,571. The average interest rate is 6.628%. The average applicant income is $35,000.
What are the most common reasons for mortgage denial at LOC CREDIT UNION?
The most common reasons for mortgage denial at LOC CREDIT UNION are: Credit history, Other, Debt-to-income ratio. In total, 105 applications were denied out of 805 total applications.
What types of mortgage loans does LOC CREDIT UNION offer?
LOC CREDIT UNION processes Conventional loans. The most common type is Conventional with 805 applications and an average loan amount of $87,571.
What loan purposes does LOC CREDIT UNION serve?
LOC CREDIT UNION serves the following loan purposes: Other (341 applications), Home Improvement (290 applications), Refinancing (88 applications), Home Purchase (71 applications), Cash-out Refinancing (15 applications). Other is the most common purpose.
Where is LOC CREDIT UNION located?
LOC CREDIT UNION is headquartered in FARMINGTON, MI. The lender is identified by LEI 549300ZX2TCCVHMJN581 in HMDA data.
How does LOC CREDIT UNION compare in lending across racial demographics?
LOC CREDIT UNION reports demographic lending data under HMDA requirements. White applicants have an approval rate of 68.8% and denial rate of 10.3%; Black or African American applicants have an approval rate of 19.1% and denial rate of 42.9%; Asian applicants have an approval rate of 50.0% and denial rate of 12.5%. 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.