PlainLender

MIDWESTONE BANK

GOLDEN VALLEY, MN

MIDWESTONE BANK processed 1,796 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 1,277 loans with a 18.3% denial rate. Home Purchase was the primary loan purpose. Based in GOLDEN VALLEY, MN. The approval rate of 71.1% 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. MIDWESTONE BANK processed 1,796 HMDA-reported mortgage applications in 2024, originating 1,277 loans and denying 328 for a denial rate of 18.3% (applicants themselves withdrew 137 files before a decision). The average loan amount was $169,972 at a 7.083% average note rate, and applicants self-reported an average income of $33,000. The lender reports under LEI 549300LZLYU85WF65870 from GOLDEN VALLEY, MN.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. MIDWESTONE BANK's 71.1% origination rate tells you how often an application turned into funded money; the 18.3% 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 (1,791 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.

1,796
Applications
1,277
Originated
18.3%
Denial Rate
$169,972
Avg Loan Amount
Avg Interest Rate: 7.083% Avg Applicant Income: $33,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,791 1,274 326 $170,131
USDA 3 3 0 $151,667
FHA 2 0 2 $55,000

Top loan types — MIDWESTONE BANK

Top loan types — MIDWESTONE BANK Horizontal bar chart of the top 3 items by value (applications). Top loan types — MIDWESTONE BANK Top 3 1. Conventional 1,791 2. USDA 3 3. FHA 2 Top 5 loan types by application volume at MIDWESTONE 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 MIDWESTONE BANK (LEI: 549300LZLYU85WF65870) · 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
186
Credit history
131
Collateral
88
Other
31
Credit application incomplete
6
Employment history
6
Unverifiable information
4
Insufficient cash
3

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 570 461 $255,211
Other 493 312 $93,682
Refinancing 417 306 $185,432
Home Improvement 272 170 $96,765
Cash-out Refinancing 44 28 $226,591

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 1,382 72.1% 17.8%
Asian 26 57.7% 30.8%
Black or African American 25 40.0% 24.0%
Joint 24 66.7% 20.8%
2 or more minority races 4 75.0% 0.0%
American Indian or Alaska Native 3 66.7% 33.3%
Native Hawaiian or Other Pacific Islander 3 66.7% 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 1,345 72.9% 16.8%
Hispanic or Latino 54 51.9% 35.2%
Joint 30 70.0% 26.7%

Nearby Lenders in MN

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

Luminate Home Loans, Inc.

Minneapolis, MN

12,756 apps 8,817 originated 2.6% denied

TRUSTONE FINANCIAL CREDIT UNION

PLYMOUTH, MN

7,967 apps 4,994 originated 19.9% denied

WINGS FINANCIAL CREDIT UNION

APPLE VALLEY, MN

5,854 apps 2,938 originated 17.2% denied

Affinity Plus Federal Credit Union

Saint Paul, MN

5,230 apps 3,603 originated 14.8% denied

BLAZE CREDIT UNION

FALCON HEIGHTS, MN

4,177 apps 2,311 originated 11.6% denied
Compare MIDWESTONE BANK vs Luminate Home Loans, Inc. →

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 MIDWESTONE BANK process?
MIDWESTONE BANK processed 1,796 mortgage applications in the 2023 HMDA reporting year. Of these, 1,277 were originated (approved and funded), 137 were withdrawn by the applicant, and 328 were denied.
What is MIDWESTONE BANK's mortgage approval rate?
MIDWESTONE BANK has an approval (origination) rate of 71.1%, meaning 71.1% of all applications resulted in a funded mortgage. The denial rate is 18.3%.
What is the average loan amount at MIDWESTONE BANK?
The average mortgage loan amount at MIDWESTONE BANK is $169,972. The average interest rate is 7.083%. The average applicant income is $33,000.
What are the most common reasons for mortgage denial at MIDWESTONE BANK?
The most common reasons for mortgage denial at MIDWESTONE BANK are: Debt-to-income ratio, Credit history, Collateral. In total, 328 applications were denied out of 1,796 total applications.
What types of mortgage loans does MIDWESTONE BANK offer?
MIDWESTONE BANK processes Conventional, USDA, FHA loans. The most common type is Conventional with 1,791 applications and an average loan amount of $170,131.
What loan purposes does MIDWESTONE BANK serve?
MIDWESTONE BANK serves the following loan purposes: Home Purchase (570 applications), Other (493 applications), Refinancing (417 applications), Home Improvement (272 applications), Cash-out Refinancing (44 applications). Home Purchase is the most common purpose.
Where is MIDWESTONE BANK located?
MIDWESTONE BANK is headquartered in GOLDEN VALLEY, MN. The lender is identified by LEI 549300LZLYU85WF65870 in HMDA data.
How does MIDWESTONE BANK compare in lending across racial demographics?
MIDWESTONE BANK reports demographic lending data under HMDA requirements. White applicants have an approval rate of 72.1% and denial rate of 17.8%; Asian applicants have an approval rate of 57.7% and denial rate of 30.8%; Black or African American applicants have an approval rate of 40.0% and denial rate of 24.0%. 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.