Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2024
In 2024, Frandsen Bank & Trust of Lonsdale, MN reported 1,414 mortgage applications totaling $327.3 million, down 4% from 2023. The average application was for $231,499, and applicants reported an average income of $155,031. 75% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (339), Duluth, MN-WI (285) and Grand Forks, ND-MN (98) (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 | 1,414 |
| Total Mortgage Loan Application Amount | $327,340,000 |
| Average Mortgage Loan Application Amount | $231,499 |
| Highest Mortgage Loan Application Amount | $14,055,000 |
| Average Applicant Income | $155,031 |
| Highest Applicant Income | $1,900,000 |
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(HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 207 | $ 41,535,000 | $ 200,652 | $ 143,000 |
| Hennepin, Minnesota | 74 | $ 39,370,000 | $ 532,027 | $ 280,000 |
| Carlton, Minnesota | 63 | $ 10,465,000 | $ 166,111 | $ 87,000 |
| Grand Forks, North Dakota | 55 | $ 8,975,000 | $ 163,181 | $ 113,000 |
| Brown, Minnesota | 51 | $ 6,705,000 | $ 131,470 | $ 103,000 |
| Goodhue, Minnesota | 51 | $ 9,425,000 | $ 184,803 | $ 132,000 |
| Rice, Minnesota | 50 | $ 9,080,000 | $ 181,600 | $ 147,000 |
| Crow Wing, Minnesota | 45 | $ 12,235,000 | $ 271,888 | $ 244,000 |
| Le Sueur, Minnesota | 44 | $ 7,100,000 | $ 161,363 | $ 100,000 |
| Olmsted, Minnesota | 43 | $ 8,775,000 | $ 204,069 | $ 130,000 |
| Polk, Minnesota | 43 | $ 5,805,000 | $ 135,000 | $ 95,000 |
| Pine, Minnesota | 40 | $ 8,030,000 | $ 200,750 | $ 143,000 |
| Dakota, Minnesota | 35 | $ 8,295,000 | $ 237,000 | $ 174,000 |
| Scott, Minnesota | 35 | $ 8,005,000 | $ 228,714 | $ 160,000 |
| Sawyer, Wisconsin | 32 | $ 6,110,000 | $ 190,937 | $ 161,000 |
| Isanti, Minnesota | 31 | $ 6,765,000 | $ 218,225 | $ 141,000 |
| Polk, Wisconsin | 30 | $ 4,030,000 | $ 134,333 | $ 108,000 |
| Ramsey, Minnesota | 29 | $ 13,245,000 | $ 456,724 | $ 212,000 |
| Chisago, Minnesota | 24 | $ 4,750,000 | $ 197,916 | $ 186,000 |
| Nicollet, Minnesota | 23 | $ 3,595,000 | $ 156,304 | $ 148,000 |
| Blue Earth, Minnesota | 22 | $ 5,770,000 | $ 262,272 | $ 158,000 |
| Renville, Minnesota | 21 | $ 2,375,000 | $ 113,095 | $ 106,000 |
| Washington, Minnesota | 20 | $ 6,230,000 | $ 311,500 | $ 242,000 |
| Anoka, Minnesota | 19 | $ 5,255,000 | $ 276,578 | $ 212,000 |
| Kanabec, Minnesota | 19 | $ 2,505,000 | $ 131,842 | $ 79,000 |
| Big Stone, Minnesota | 16 | $ 1,930,000 | $ 120,625 | $ 87,000 |
| Douglas, Wisconsin | 15 | $ 2,585,000 | $ 172,333 | $ 120,000 |
| Eau Claire, Wisconsin | 15 | $ 18,615,000 | $ 1,241,000 | $ 205,000 |
| Burnett, Wisconsin | 13 | $ 2,515,000 | $ 193,461 | $ 124,000 |
| Benton, Minnesota | 12 | $ 2,550,000 | $ 212,500 | $ 147,000 |
| Washburn, Wisconsin | 12 | $ 2,710,000 | $ 225,833 | $ 145,000 |
| Lake, Minnesota | 11 | $ 2,535,000 | $ 230,454 | $ 184,000 |
| Marshall, Minnesota | 10 | $ 710,000 | $ 71,000 | $ 124,000 |
| Stearns, Minnesota | 9 | $ 2,075,000 | $ 230,555 | $ 328,000 |
| Carver, Minnesota | 8 | $ 1,370,000 | $ 171,250 | $ 122,000 |
| Cass, Minnesota | 8 | $ 3,060,000 | $ 382,500 | $ 306,000 |
| Itasca, Minnesota | 8 | $ 2,070,000 | $ 258,750 | $ 195,000 |
| Wabasha, Minnesota | 8 | $ 1,470,000 | $ 183,750 | $ 141,000 |
| Chippewa, Wisconsin | 8 | $ 1,700,000 | $ 212,500 | $ 238,000 |
| Mille Lacs, Minnesota | 7 | $ 1,415,000 | $ 202,142 | $ 66,000 |
| Aitkin, Minnesota | 6 | $ 1,270,000 | $ 211,666 | $ 292,000 |
| Barron, Wisconsin | 6 | $ 1,880,000 | $ 313,333 | $ 201,000 |
| Becker, Minnesota | 5 | $ 1,445,000 | $ 289,000 | $ 307,000 |
| Dodge, Minnesota | 5 | $ 1,065,000 | $ 213,000 | $ 110,000 |
| Norman, Minnesota | 5 | $ 595,000 | $ 119,000 | $ 113,000 |
| Sherburne, Minnesota | 5 | $ 905,000 | $ 181,000 | $ 145,000 |
| Morrison, Minnesota | 4 | $ 600,000 | $ 150,000 | $ 222,000 |
| Sibley, Minnesota | 4 | $ 480,000 | $ 120,000 | $ 107,000 |
| Steele, Minnesota | 4 | $ 690,000 | $ 172,500 | $ 0 |
| Wright, Minnesota | 4 | $ 290,000 | $ 72,500 | $ 88,000 |
| Dane, Wisconsin | 4 | $ 2,220,000 | $ 555,000 | $ 275,000 |
| Pinal, Arizona | 3 | $ 535,000 | $ 178,333 | $ 167,000 |
| Lee, Florida | 3 | $ 1,995,000 | $ 665,000 | $ 217,000 |
| Hubbard, Minnesota | 3 | $ 835,000 | $ 278,333 | $ 279,000 |
| Wadena, Minnesota | 3 | $ 455,000 | $ 151,666 | $ 81,000 |
| Waseca, Minnesota | 3 | $ 305,000 | $ 101,666 | $ 98,000 |
| Walsh, North Dakota | 3 | $ 405,000 | $ 135,000 | $ 98,000 |
| Bayfield, Wisconsin | 3 | $ 185,000 | $ 61,666 | $ 57,000 |
| Maricopa, Arizona | 2 | $ 680,000 | $ 340,000 | $ 399,000 |
| Dickinson, Iowa | 2 | $ 850,000 | $ 425,000 | $ 93,000 |
| Clay, Minnesota | 2 | $ 520,000 | $ 260,000 | $ 162,000 |
| Cook, Minnesota | 2 | $ 540,000 | $ 270,000 | $ 115,000 |
| Douglas, Minnesota | 2 | $ 620,000 | $ 310,000 | $ 45,000 |
| Kandiyohi, Minnesota | 2 | $ 620,000 | $ 310,000 | $ 142,000 |
| Mahnomen, Minnesota | 2 | $ 230,000 | $ 115,000 | $ 66,000 |
| McLeod, Minnesota | 2 | $ 260,000 | $ 130,000 | $ 100,000 |
| Mower, Minnesota | 2 | $ 490,000 | $ 245,000 | $ 93,000 |
| Murray, Minnesota | 2 | $ 30,000 | $ 15,000 | $ 46,000 |
| Redwood, Minnesota | 2 | $ 100,000 | $ 50,000 | $ 191,000 |
| Stevens, Minnesota | 2 | $ 420,000 | $ 210,000 | $ 398,000 |
| Winona, Minnesota | 2 | $ 480,000 | $ 240,000 | $ 120,000 |
| Traill, North Dakota | 2 | $ 330,000 | $ 165,000 | $ 95,000 |
| Roberts, South Dakota | 2 | $ 320,000 | $ 160,000 | $ 143,000 |
| Marathon, Wisconsin | 2 | $ 400,000 | $ 200,000 | $ 277,000 |
| Milwaukee, Wisconsin | 2 | $ 580,000 | $ 290,000 | $ 778,000 |
| Outagamie, Wisconsin | 2 | $ 1,040,000 | $ 520,000 | $ 171,000 |
| Pierce, Wisconsin | 2 | $ 620,000 | $ 310,000 | $ 118,000 |
| St. Croix, Wisconsin | 2 | $ 930,000 | $ 465,000 | $ 286,000 |
| Garfield, Colorado | 1 | $ 505,000 | $ 505,000 | $ 223,000 |
| Lake, Florida | 1 | $ 255,000 | $ 255,000 | $ 108,000 |
| Pinellas, Florida | 1 | $ 765,000 | $ 765,000 | $ 204,000 |
| Polk, Florida | 1 | $ 425,000 | $ 425,000 | $ 172,000 |
| Polk, Iowa | 1 | $ 155,000 | $ 155,000 | $ 72,000 |
| Beltrami, Minnesota | 1 | $ 205,000 | $ 205,000 | $ 263,000 |
| Faribault, Minnesota | 1 | $ 405,000 | $ 405,000 | $ 102,000 |
| Lyon, Minnesota | 1 | $ 75,000 | $ 75,000 | $ 20,000 |
| Martin, Minnesota | 1 | $ 125,000 | $ 125,000 | $ 79,000 |
| Otter Tail, Minnesota | 1 | $ 965,000 | $ 965,000 | $ 320,000 |
| Pipestone, Minnesota | 1 | $ 55,000 | $ 55,000 | $ 77,000 |
| Pope, Minnesota | 1 | $ 175,000 | $ 175,000 | $ 116,000 |
| Roseau, Minnesota | 1 | $ 45,000 | $ 45,000 | $ 119,000 |
| Todd, Minnesota | 1 | $ 95,000 | $ 95,000 | $ 43,000 |
| Cass, North Dakota | 1 | $ 75,000 | $ 75,000 | $ 192,000 |
| Griggs, North Dakota | 1 | $ 225,000 | $ 225,000 | $ 113,000 |
| McLean, North Dakota | 1 | $ 95,000 | $ 95,000 | $ 106,000 |
| Nelson, North Dakota | 1 | $ 305,000 | $ 305,000 | $ 325,000 |
| Richland, North Dakota | 1 | $ 325,000 | $ 325,000 | $ 110,000 |
| Brookings, South Dakota | 1 | $ 55,000 | $ 55,000 | $ 49,000 |
| Grant, South Dakota | 1 | $ 495,000 | $ 495,000 | $ 0 |
| Marshall, South Dakota | 1 | $ 125,000 | $ 125,000 | $ 67,000 |
| Minnehaha, South Dakota | 1 | $ 265,000 | $ 265,000 | $ 106,000 |
| Adams, Wisconsin | 1 | $ 55,000 | $ 55,000 | $ 110,000 |
| Ashland, Wisconsin | 1 | $ 35,000 | $ 35,000 | $ 97,000 |
| Brown, Wisconsin | 1 | $ 205,000 | $ 205,000 | $ 700,000 |
| Dunn, Wisconsin | 1 | $ 245,000 | $ 245,000 | $ 106,000 |
| La Crosse, Wisconsin | 1 | $ 175,000 | $ 175,000 | $ 0 |
| Oconto, Wisconsin | 1 | $ 255,000 | $ 255,000 | $ 107,000 |
| Racine, Wisconsin | 1 | $ 25,000 | $ 25,000 | $ 154,000 |
| Rock, Wisconsin | 1 | $ 725,000 | $ 725,000 | $ 229,000 |
| Waukesha, Wisconsin | 1 | $ 535,000 | $ 535,000 | $ 304,000 |
| Winnebago, Wisconsin | 1 | $ 375,000 | $ 375,000 | $ 192,000 |
| Wood, Wisconsin | 1 | $ 75,000 | $ 75,000 | $ 98,000 |
| Albany, Wyoming | 1 | $ 465,000 | $ 465,000 | $ 109,000 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2024
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 |
|---|---|---|---|---|---|---|
| Home Purchase | 743 | $241,715,000 | $325,000 | $14,055,000 | $169,000 | $1,640,000 |
| Home Improvement | 305 | $23,955,000 | $78,000 | $705,000 | $138,000 | $1,900,000 |
| Other Purpose | 184 | $20,350,000 | $110,000 | $975,000 | $156,000 | $1,757,000 |
| Refinancing | 127 | $32,175,000 | $253,000 | $1,305,000 | $144,000 | $835,000 |
| Cash-out Refinancing | 55 | $9,145,000 | $166,000 | $535,000 | $83,000 | $248,000 |
| 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 | 1,189 | $250,295,000 | $210,000 | $3,015,000 | $154,000 | $1,757,000 |
| Not applicable | 108 | $51,260,000 | $474,000 | $14,055,000 | $0 | $0 |
| Not Provided | 64 | $14,570,000 | $227,000 | $1,125,000 | $176,000 | $1,900,000 |
| Asian | 19 | $4,875,000 | $256,000 | $825,000 | $230,000 | $813,000 |
| Hispanic | 15 | $2,265,000 | $151,000 | $295,000 | $79,000 | $226,000 |
| American Indian or Alaskan Native | 10 | $1,040,000 | $104,000 | $275,000 | $98,000 | $217,000 |
| Black or African American | 9 | $3,035,000 | $337,000 | $1,435,000 | $120,000 | $480,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
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) | 1,403 | $325,055,000 | $231,000 | $14,055,000 | $155,000 | $1,900,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 7 | $1,145,000 | $163,000 | $235,000 | $71,000 | $95,000 |
| VA-guaranteed (Veterans Administration) | 2 | $720,000 | $360,000 | $415,000 | $135,000 | $146,000 |
| FHA-insured (Federal Housing Administration) | 2 | $420,000 | $210,000 | $255,000 | $41,000 | $82,000 |
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 | 1,065 | $254,205,000 | $238,000 | $14,055,000 | $162,000 | $1,900,000 |
| Application Withdrawn By Applicant | 225 | $58,885,000 | $261,000 | $7,105,000 | $146,000 | $1,000,000 |
| Application Denied By Financial Institution | 112 | $11,880,000 | $106,000 | $705,000 | $103,000 | $700,000 |
| Application Approved But Not Accepted | 11 | $2,355,000 | $214,000 | $335,000 | $105,000 | $342,000 |
| File Closed For Incompleteness | 1 | $15,000 | $15,000 | $15,000 | $26,000 | $26,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $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 | 937 | $275,245,000 | $293,000 | $14,055,000 | $160,000 | $1,757,000 |
| Debt-To-Income Ratio | 450 | $47,470,000 | $105,000 | $1,105,000 | $146,000 | $1,900,000 |
| Credit History | 22 | $3,870,000 | $175,000 | $365,000 | $99,000 | $489,000 |
| Employment History | 4 | $640,000 | $160,000 | $295,000 | $64,000 | $119,000 |
| Other | 1 | $115,000 | $115,000 | $115,000 | $113,000 | $113,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Frandsen Bank & Trust's 2024 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.
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