Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2021
In 2021, Frandsen Bank & Trust of Lonsdale, MN reported 2,492 mortgage applications totaling $544.0 million, down 8% from 2020. The average application was for $218,314, and applicants reported an average income of $121,872. 83% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (686), Duluth, MN-WI (502) and Grand Forks, ND-MN (182) (applications in parentheses).
| Mortgage Company & Address | Frandsen Bank & Trust 116 Central Street West Lonsdale, MN 55046 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 |
| Total Number of Mortgage Applications | 2,492 |
| Total Mortgage Loan Application Amount | $544,040,000 |
| Average Mortgage Loan Application Amount | $218,314 |
| Highest Mortgage Loan Application Amount | $2,745,000 |
| Average Applicant Income | $121,872 |
| Highest Applicant Income | $2,196,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| St. Louis, Minnesota | 353 | $ 72,865,000 | $ 206,416 | $ 115,000 |
| Rice, Minnesota | 115 | $ 25,635,000 | $ 222,913 | $ 103,000 |
| Crow Wing, Minnesota | 114 | $ 26,650,000 | $ 233,771 | $ 115,000 |
| Scott, Minnesota | 104 | $ 29,110,000 | $ 279,903 | $ 132,000 |
| Dakota, Minnesota | 101 | $ 27,315,000 | $ 270,445 | $ 140,000 |
| Brown, Minnesota | 100 | $ 14,950,000 | $ 149,500 | $ 92,000 |
| Le Sueur, Minnesota | 95 | $ 19,875,000 | $ 209,210 | $ 130,000 |
| Grand Forks, North Dakota | 95 | $ 18,055,000 | $ 190,052 | $ 84,000 |
| Carlton, Minnesota | 88 | $ 19,100,000 | $ 217,045 | $ 118,000 |
| Polk, Minnesota | 87 | $ 15,855,000 | $ 182,241 | $ 108,000 |
| Hennepin, Minnesota | 79 | $ 24,935,000 | $ 315,632 | $ 181,000 |
| Blue Earth, Minnesota | 67 | $ 13,845,000 | $ 206,641 | $ 102,000 |
| Pine, Minnesota | 60 | $ 8,830,000 | $ 147,166 | $ 72,000 |
| Ramsey, Minnesota | 56 | $ 18,350,000 | $ 327,678 | $ 179,000 |
| Sawyer, Wisconsin | 55 | $ 10,245,000 | $ 186,272 | $ 94,000 |
| Polk, Wisconsin | 50 | $ 8,220,000 | $ 164,400 | $ 86,000 |
| Anoka, Minnesota | 49 | $ 14,425,000 | $ 294,387 | $ 171,000 |
| Isanti, Minnesota | 48 | $ 8,810,000 | $ 183,541 | $ 90,000 |
| Chisago, Minnesota | 46 | $ 9,040,000 | $ 196,521 | $ 96,000 |
| Eau Claire, Wisconsin | 46 | $ 12,200,000 | $ 265,217 | $ 224,000 |
| Nicollet, Minnesota | 44 | $ 8,380,000 | $ 190,454 | $ 93,000 |
| Benton, Minnesota | 39 | $ 6,035,000 | $ 154,743 | $ 75,000 |
| Washington, Minnesota | 37 | $ 12,805,000 | $ 346,081 | $ 186,000 |
| Douglas, Wisconsin | 37 | $ 6,785,000 | $ 183,378 | $ 114,000 |
| Cass, Minnesota | 29 | $ 5,975,000 | $ 206,034 | $ 100,000 |
| Kanabec, Minnesota | 27 | $ 3,835,000 | $ 142,037 | $ 99,000 |
| Marshall, Minnesota | 27 | $ 3,245,000 | $ 120,185 | $ 77,000 |
| Renville, Minnesota | 25 | $ 2,755,000 | $ 110,200 | $ 74,000 |
| Lake, Minnesota | 24 | $ 4,780,000 | $ 199,166 | $ 123,000 |
| Norman, Minnesota | 19 | $ 1,985,000 | $ 104,473 | $ 86,000 |
| Carver, Minnesota | 18 | $ 4,410,000 | $ 245,000 | $ 119,000 |
| Sherburne, Minnesota | 17 | $ 3,955,000 | $ 232,647 | $ 107,000 |
| Burnett, Wisconsin | 16 | $ 2,650,000 | $ 165,625 | $ 125,000 |
| Big Stone, Minnesota | 14 | $ 2,120,000 | $ 151,428 | $ 109,000 |
| Stearns, Minnesota | 13 | $ 2,535,000 | $ 195,000 | $ 163,000 |
| Bayfield, Wisconsin | 13 | $ 1,835,000 | $ 141,153 | $ 170,000 |
| Mille Lacs, Minnesota | 12 | $ 3,120,000 | $ 260,000 | $ 170,000 |
| Barron, Wisconsin | 12 | $ 2,390,000 | $ 199,166 | $ 83,000 |
| Aitkin, Minnesota | 11 | $ 2,275,000 | $ 206,818 | $ 153,000 |
| Itasca, Minnesota | 11 | $ 2,245,000 | $ 204,090 | $ 124,000 |
| McLeod, Minnesota | 11 | $ 2,185,000 | $ 198,636 | $ 142,000 |
| Wright, Minnesota | 11 | $ 2,475,000 | $ 225,000 | $ 146,000 |
| Chippewa, Wisconsin | 11 | $ 3,155,000 | $ 286,818 | $ 246,000 |
| Washburn, Wisconsin | 10 | $ 1,900,000 | $ 190,000 | $ 123,000 |
| Waseca, Minnesota | 9 | $ 1,445,000 | $ 160,555 | $ 81,000 |
| Hubbard, Minnesota | 8 | $ 1,750,000 | $ 218,750 | $ 149,000 |
| Sibley, Minnesota | 8 | $ 1,440,000 | $ 180,000 | $ 65,000 |
| Maricopa, Arizona | 7 | $ 1,775,000 | $ 253,571 | $ 166,000 |
| Becker, Minnesota | 7 | $ 2,515,000 | $ 359,285 | $ 171,000 |
| Morrison, Minnesota | 7 | $ 875,000 | $ 125,000 | $ 155,000 |
| Olmsted, Minnesota | 7 | $ 1,525,000 | $ 217,857 | $ 174,000 |
| St. Croix, Wisconsin | 7 | $ 1,515,000 | $ 216,428 | $ 126,000 |
| Lee, Florida | 6 | $ 1,670,000 | $ 278,333 | $ 153,000 |
| Ashland, Wisconsin | 6 | $ 1,370,000 | $ 228,333 | $ 146,000 |
| Pierce, Wisconsin | 6 | $ 1,860,000 | $ 310,000 | $ 172,000 |
| Beltrami, Minnesota | 5 | $ 1,435,000 | $ 287,000 | $ 110,000 |
| Faribault, Minnesota | 5 | $ 565,000 | $ 113,000 | $ 55,000 |
| Pennington, Minnesota | 5 | $ 985,000 | $ 197,000 | $ 85,000 |
| Steele, Minnesota | 5 | $ 845,000 | $ 169,000 | $ 191,000 |
| Waukesha, Wisconsin | 5 | $ 2,995,000 | $ 599,000 | $ 568,000 |
| Cook, Minnesota | 4 | $ 1,020,000 | $ 255,000 | $ 138,000 |
| Douglas, Minnesota | 4 | $ 1,210,000 | $ 302,500 | $ 218,000 |
| Cass, North Dakota | 4 | $ 1,270,000 | $ 317,500 | $ 286,000 |
| Indian River, Florida | 3 | $ 605,000 | $ 201,666 | $ 160,000 |
| Otter Tail, Minnesota | 3 | $ 1,255,000 | $ 418,333 | $ 278,000 |
| Redwood, Minnesota | 3 | $ 655,000 | $ 218,333 | $ 118,000 |
| Wadena, Minnesota | 3 | $ 305,000 | $ 101,666 | $ 66,000 |
| Traill, North Dakota | 3 | $ 375,000 | $ 125,000 | $ 59,000 |
| Milwaukee, Wisconsin | 3 | $ 1,085,000 | $ 361,666 | $ 261,000 |
| Mohave, Arizona | 2 | $ 470,000 | $ 235,000 | $ 132,000 |
| Pima, Arizona | 2 | $ 470,000 | $ 235,000 | $ 234,000 |
| Collier, Florida | 2 | $ 620,000 | $ 310,000 | $ 375,000 |
| Okaloosa, Florida | 2 | $ 1,430,000 | $ 715,000 | $ 216,000 |
| Polk, Iowa | 2 | $ 650,000 | $ 325,000 | $ 141,000 |
| Dodge, Minnesota | 2 | $ 500,000 | $ 250,000 | $ 137,000 |
| Kandiyohi, Minnesota | 2 | $ 600,000 | $ 300,000 | $ 182,000 |
| Mahnomen, Minnesota | 2 | $ 250,000 | $ 125,000 | $ 197,000 |
| Richland, North Dakota | 2 | $ 340,000 | $ 170,000 | $ 51,000 |
| Dane, Wisconsin | 2 | $ 910,000 | $ 455,000 | $ 225,000 |
| Yavapai, Arizona | 1 | $ 355,000 | $ 355,000 | $ 61,000 |
| Orange, California | 1 | $ 545,000 | $ 545,000 | $ 179,000 |
| Arapahoe, Colorado | 1 | $ 325,000 | $ 325,000 | $ 79,000 |
| Escambia, Florida | 1 | $ 185,000 | $ 185,000 | $ 133,000 |
| Palm Beach, Florida | 1 | $ 735,000 | $ 735,000 | $ 0 |
| Pasco, Florida | 1 | $ 205,000 | $ 205,000 | $ 112,000 |
| Pinellas, Florida | 1 | $ 45,000 | $ 45,000 | $ 130,000 |
| St. Johns, Florida | 1 | $ 685,000 | $ 685,000 | $ 291,000 |
| Cerro Gordo, Iowa | 1 | $ 115,000 | $ 115,000 | $ 36,000 |
| Franklin, Iowa | 1 | $ 195,000 | $ 195,000 | $ 0 |
| Cumberland, Maine | 1 | $ 545,000 | $ 545,000 | $ 319,000 |
| Gogebic, Michigan | 1 | $ 155,000 | $ 155,000 | $ 93,000 |
| Chippewa, Minnesota | 1 | $ 605,000 | $ 605,000 | $ 0 |
| Clay, Minnesota | 1 | $ 335,000 | $ 335,000 | $ 419,000 |
| Cottonwood, Minnesota | 1 | $ 305,000 | $ 305,000 | $ 121,000 |
| Freeborn, Minnesota | 1 | $ 235,000 | $ 235,000 | $ 168,000 |
| Goodhue, Minnesota | 1 | $ 305,000 | $ 305,000 | $ 78,000 |
| Lac qui Parle, Minnesota | 1 | $ 115,000 | $ 115,000 | $ 122,000 |
| Lincoln, Minnesota | 1 | $ 45,000 | $ 45,000 | $ 116,000 |
| Martin, Minnesota | 1 | $ 195,000 | $ 195,000 | $ 124,000 |
| Meeker, Minnesota | 1 | $ 125,000 | $ 125,000 | $ 43,000 |
| Pope, Minnesota | 1 | $ 175,000 | $ 175,000 | $ 170,000 |
| Roseau, Minnesota | 1 | $ 45,000 | $ 45,000 | $ 70,000 |
| Stevens, Minnesota | 1 | $ 105,000 | $ 105,000 | $ 49,000 |
| Traverse, Minnesota | 1 | $ 105,000 | $ 105,000 | $ 121,000 |
| Winona, Minnesota | 1 | $ 315,000 | $ 315,000 | $ 138,000 |
| Cabarrus, North Carolina | 1 | $ 1,085,000 | $ 1,085,000 | $ 0 |
| Burleigh, North Dakota | 1 | $ 305,000 | $ 305,000 | $ 87,000 |
| Dickey, North Dakota | 1 | $ 135,000 | $ 135,000 | $ 76,000 |
| Walsh, North Dakota | 1 | $ 85,000 | $ 85,000 | $ 36,000 |
| Codington, South Dakota | 1 | $ 375,000 | $ 375,000 | $ 118,000 |
| Grant, South Dakota | 1 | $ 165,000 | $ 165,000 | $ 34,000 |
| Door, Wisconsin | 1 | $ 425,000 | $ 425,000 | $ 768,000 |
| Dunn, Wisconsin | 1 | $ 55,000 | $ 55,000 | $ 41,000 |
| Iron, Wisconsin | 1 | $ 205,000 | $ 205,000 | $ 159,000 |
| La Crosse, Wisconsin | 1 | $ 745,000 | $ 745,000 | $ 315,000 |
| Marathon, Wisconsin | 1 | $ 595,000 | $ 595,000 | $ 384,000 |
| Oneida, Wisconsin | 1 | $ 295,000 | $ 295,000 | $ 108,000 |
| Rock, Wisconsin | 1 | $ 155,000 | $ 155,000 | $ 116,000 |
| Trempealeau, Wisconsin | 1 | $ 885,000 | $ 885,000 | $ 407,000 |
| Walworth, Wisconsin | 1 | $ 455,000 | $ 455,000 | $ 279,000 |
| Waushara, Wisconsin | 1 | $ 115,000 | $ 115,000 | $ 56,000 |
| Wood, Wisconsin | 1 | $ 135,000 | $ 135,000 | $ 64,000 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2021
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Refinancing | 1,017 | $228,655,000 | $224,000 | $2,745,000 | $130,000 | $2,196,000 |
| Home Purchase | 826 | $191,360,000 | $231,000 | $1,835,000 | $127,000 | $1,798,000 |
| Cash-out Refinancing | 554 | $111,810,000 | $201,000 | $765,000 | $101,000 | $1,065,000 |
| Other Purpose | 57 | $9,075,000 | $159,000 | $1,005,000 | $124,000 | $700,000 |
| Home Improvement | 38 | $3,140,000 | $82,000 | $405,000 | $94,000 | $365,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 2,170 | $461,540,000 | $212,000 | $1,385,000 | $119,000 | $2,196,000 |
| Not Provided | 143 | $33,345,000 | $233,000 | $1,575,000 | $140,000 | $1,798,000 |
| Not applicable | 122 | $36,080,000 | $295,000 | $2,745,000 | $0 | $0 |
| Hispanic | 23 | $3,905,000 | $169,000 | $425,000 | $126,000 | $581,000 |
| Asian | 19 | $6,505,000 | $342,000 | $1,085,000 | $203,000 | $638,000 |
| American Indian or Alaskan Native | 8 | $1,250,000 | $156,000 | $235,000 | $147,000 | $638,000 |
| Black or African American | 6 | $810,000 | $135,000 | $265,000 | $81,000 | $196,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $605,000 | $605,000 | $605,000 | $157,000 | $157,000 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 2,466 | $539,610,000 | $218,000 | $2,745,000 | $122,000 | $2,196,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 21 | $3,165,000 | $150,000 | $305,000 | $56,000 | $86,000 |
| VA-guaranteed (Veterans Administration) | 4 | $1,070,000 | $267,000 | $375,000 | $80,000 | $197,000 |
| FHA-insured (Federal Housing Administration) | 1 | $195,000 | $195,000 | $195,000 | $75,000 | $75,000 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 2,057 | $446,705,000 | $217,000 | $2,745,000 | $122,000 | $2,196,000 |
| Application Withdrawn By Applicant | 331 | $76,265,000 | $230,000 | $1,205,000 | $129,000 | $823,000 |
| Application Denied By Financial Institution | 86 | $17,810,000 | $207,000 | $1,085,000 | $76,000 | $943,000 |
| File Closed For Incompleteness | 9 | $1,975,000 | $219,000 | $505,000 | $130,000 | $360,000 |
| Application Approved But Not Accepted | 8 | $980,000 | $122,000 | $195,000 | $117,000 | $275,000 |
| Loan Purchased By The Institution | 1 | $305,000 | $305,000 | $305,000 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 2,406 | $526,230,000 | $218,000 | $2,745,000 | $123,000 | $2,196,000 |
| Debt-To-Income Ratio | 48 | $10,680,000 | $222,000 | $915,000 | $50,000 | $199,000 |
| Credit History | 16 | $2,370,000 | $148,000 | $385,000 | $74,000 | $240,000 |
| Collateral | 11 | $2,645,000 | $240,000 | $1,085,000 | $190,000 | $943,000 |
| Other | 6 | $1,200,000 | $200,000 | $345,000 | $89,000 | $225,000 |
| Employment History | 5 | $915,000 | $183,000 | $325,000 | $83,000 | $270,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Frandsen Bank & Trust's 2021 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Frandsen Bank & Trust's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Minnesota, download the full spreadsheet
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