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Tradition Mortgage, LLC

LAKEVILLE, MN

Tradition Mortgage, LLC processed 1,159 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 1,055 loans with a 0.8% denial rate. Home Purchase was the primary loan purpose. Based in LAKEVILLE, MN. The approval rate of 91.0% reflects originated loans as a share of all applications.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Tradition Mortgage, LLC's 91.0% origination rate tells you how often an application turned into funded money; the 0.8% 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 (1,070 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.

1,159
Applications
1,055
Originated
0.8%
Denial Rate
$388,158
Avg Loan Amount
Avg Interest Rate: 6.686% Avg Applicant Income: $35,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,070 976 8 $389,841
VA 47 44 0 $406,064
FHA 41 35 1 $329,634
USDA 1 0 0 $145,000

Top loan types - Tradition Mortgage, LLC

Top loan types - Tradition Mortgage, LLC Horizontal bar chart of the top 4 items by value (applications). Top loan types - Tradition Mortgage, LLC Top 4 1. Conventional 1,070 2. VA 47 3. FHA 41 4. USDA 1 Top 5 loan types by application volume at Tradition Mortgage, LLC (HMDA 2024). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Tradition Mortgage, LLC (LEI: 5493007VDBJSG0E0S678) · 2024 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
3
Debt-to-income ratio
3
Collateral
2
Employment history
1
Insufficient cash
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 942 870 $380,180
Refinancing 143 129 $457,028
Cash-out Refinancing 74 56 $356,622

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 898 91.2% 0.7%
Asian * 35 100.0% 0.0%
Joint * 32 96.9% 0.0%
Black or African American * 20 85.0% 0.0%
American Indian or Alaska Native * 2 100.0% 0.0%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

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 876 91.4% 0.7%
Hispanic or Latino * 16 93.8% 0.0%
Joint * 9 88.9% 0.0%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

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 Tradition Mortgage, LLC vs Luminate Home Loans, Inc. →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Tradition Mortgage, LLC process?
Tradition Mortgage, LLC processed 1,159 mortgage applications in the 2024 HMDA reporting year. Of these, 1,055 were originated (approved and funded), 95 were withdrawn by the applicant, and 9 were denied.
What is Tradition Mortgage, LLC's mortgage approval rate?
Tradition Mortgage, LLC has an approval (origination) rate of 91.0%, meaning 91.0% of all applications resulted in a funded mortgage. The denial rate is 0.8%.
What is the average loan amount at Tradition Mortgage, LLC?
The average mortgage loan amount at Tradition Mortgage, LLC is $388,158. The average interest rate is 6.686%. The average applicant income is $35,000.
What are the most common reasons for mortgage denial at Tradition Mortgage, LLC?
The most common reasons for mortgage denial at Tradition Mortgage, LLC are: Credit history, Debt-to-income ratio, Collateral. In total, 9 applications were denied out of 1,159 total applications.
What types of mortgage loans does Tradition Mortgage, LLC offer?
Tradition Mortgage, LLC processes Conventional, VA, FHA, USDA loans. The most common type is Conventional with 1,070 applications and an average loan amount of $389,841.
What loan purposes does Tradition Mortgage, LLC serve?
Tradition Mortgage, LLC serves the following loan purposes: Home Purchase (942 applications), Refinancing (143 applications), Cash-out Refinancing (74 applications). Home Purchase is the most common purpose.
Where is Tradition Mortgage, LLC located?
Tradition Mortgage, LLC is headquartered in LAKEVILLE, MN. The lender is identified by LEI 5493007VDBJSG0E0S678 in HMDA data.
How does Tradition Mortgage, LLC compare in lending across racial demographics?
Tradition Mortgage, LLC reports demographic lending data under HMDA requirements. White applicants have an approval rate of 91.2% and denial rate of 0.7%; Asian applicants have an approval rate of 100.0% and denial rate of 0.0%; Joint applicants have an approval rate of 96.9% and denial rate of 0.0%. 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.

Every figure on PlainLender is rendered directly from CFPB HMDA federal source data, no number is typed in by an editor. This page draws directly on CFPB HMDA federal source data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.