North Star Credit Union Mortgage Lending & HMDA Data, 2023
In 2023, North Star Credit Union of Cook, MN reported 45 mortgage applications totaling $5.1 million, down 50% from 2022. The average application was for $113,222, and applicants reported an average income of $171,688. 89% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Duluth, MN-WI (35), Grand Forks, ND-MN (2) and Rochester, MN (1) (applications in parentheses).
| Mortgage Company & Address | North Star Credit Union 24 S River St Cook, MN 55723 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 |
| Total Number of Mortgage Applications | 45 |
| Total Mortgage Loan Application Amount | $5,095,000 |
| Average Mortgage Loan Application Amount | $113,222 |
| Highest Mortgage Loan Application Amount | $615,000 |
| Average Applicant Income | $171,688 |
| Highest Applicant Income | $1,135,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records North Star Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for North Star Credit Union in 2023
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 | 17 | $3,025,000 | $177,000 | $615,000 | $296,000 | $1,135,000 |
| Cash-out Refinancing | 16 | $1,120,000 | $70,000 | $245,000 | $111,000 | $232,000 |
| Home Improvement | 9 | $435,000 | $48,000 | $75,000 | $75,000 | $108,000 |
| Refinancing | 3 | $515,000 | $171,000 | $375,000 | $81,000 | $109,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 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 | 38 | $3,560,000 | $93,000 | $375,000 | $157,000 | $1,135,000 |
| Not Provided | 5 | $1,415,000 | $283,000 | $615,000 | $263,000 | $370,000 |
| Not applicable | 2 | $120,000 | $60,000 | $95,000 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 45 | $5,095,000 | $113,000 | $615,000 | $167,000 | $1,135,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 40 | $3,760,000 | $94,000 | $375,000 | $160,000 | $1,135,000 |
| Preapproval Approved but not Accepted | 2 | $980,000 | $490,000 | $615,000 | $330,000 | $370,000 |
| Application Approved But Not Accepted | 1 | $195,000 | $195,000 | $195,000 | $150,000 | $150,000 |
| Application Denied By Financial Institution | 1 | $55,000 | $55,000 | $55,000 | $0 | $0 |
| Application Withdrawn By Applicant | 1 | $105,000 | $105,000 | $105,000 | $138,000 | $138,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 45 | $5,095,000 | $113,000 | $615,000 | $167,000 | $1,135,000 |
| Employment History | 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 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into North Star Credit Union's 2023 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 North Star Credit Union'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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