PlainLender

THINK MUTUAL BANK

ROCHESTER, MN

THINK MUTUAL BANK processed 1,078 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 787 loans with a 12.1% denial rate. Home Purchase was the primary loan purpose. Based in ROCHESTER, MN. The approval rate of 73.0% 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. THINK MUTUAL BANK processed 1,078 HMDA-reported mortgage applications in 2024, originating 787 loans and denying 130 for a denial rate of 12.1% (applicants themselves withdrew 149 files before a decision). The average loan amount was $222,495 at a 7.015% average note rate, and applicants self-reported an average income of $32,000. The lender reports under LEI 254900B9B6TYYGLOXT47 from ROCHESTER, 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. THINK MUTUAL BANK's 73.0% origination rate tells you how often an application turned into funded money; the 12.1% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Other, Credit history, which together explain the majority of rejections. Most activity concentrated in Conventional loans (1,078 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.

1,078
Applications
787
Originated
12.1%
Denial Rate
$222,495
Avg Loan Amount
Avg Interest Rate: 7.015% Avg Applicant Income: $32,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,078 787 130 $222,495

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for THINK MUTUAL BANK (LEI: 254900B9B6TYYGLOXT47) · 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
79
Other
51
Credit history
35
Collateral
28
Insufficient cash
6
Unverifiable information
4
Employment history
3
Credit application incomplete
2

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 413 344 $415,266
Home Improvement 280 199 $75,750
Other 191 127 $82,225
Cash-out Refinancing 137 83 $150,474
Refinancing 57 34 $189,737

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 871 75.4% 10.4%
Asian 43 65.1% 16.3%
Black or African American 21 38.1% 33.3%
Joint 19 84.2% 5.3%
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 917 74.4% 11.7%
Hispanic or Latino 16 75.0% 0.0%
Joint 13 76.9% 7.7%

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 THINK MUTUAL 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 THINK MUTUAL BANK process?
THINK MUTUAL BANK processed 1,078 mortgage applications in the 2023 HMDA reporting year. Of these, 787 were originated (approved and funded), 149 were withdrawn by the applicant, and 130 were denied.
What is THINK MUTUAL BANK's mortgage approval rate?
THINK MUTUAL BANK has an approval (origination) rate of 73.0%, meaning 73.0% of all applications resulted in a funded mortgage. The denial rate is 12.1%.
What is the average loan amount at THINK MUTUAL BANK?
The average mortgage loan amount at THINK MUTUAL BANK is $222,495. The average interest rate is 7.015%. The average applicant income is $32,000.
What are the most common reasons for mortgage denial at THINK MUTUAL BANK?
The most common reasons for mortgage denial at THINK MUTUAL BANK are: Debt-to-income ratio, Other, Credit history. In total, 130 applications were denied out of 1,078 total applications.
What types of mortgage loans does THINK MUTUAL BANK offer?
THINK MUTUAL BANK processes Conventional loans. The most common type is Conventional with 1,078 applications and an average loan amount of $222,495.
What loan purposes does THINK MUTUAL BANK serve?
THINK MUTUAL BANK serves the following loan purposes: Home Purchase (413 applications), Home Improvement (280 applications), Other (191 applications), Cash-out Refinancing (137 applications), Refinancing (57 applications). Home Purchase is the most common purpose.
Where is THINK MUTUAL BANK located?
THINK MUTUAL BANK is headquartered in ROCHESTER, MN. The lender is identified by LEI 254900B9B6TYYGLOXT47 in HMDA data.
How does THINK MUTUAL BANK compare in lending across racial demographics?
THINK MUTUAL BANK reports demographic lending data under HMDA requirements. White applicants have an approval rate of 75.4% and denial rate of 10.4%; Asian applicants have an approval rate of 65.1% and denial rate of 16.3%; Black or African American applicants have an approval rate of 38.1% and denial rate of 33.3%. 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.