Thrivent Federal Credit Union Mortgage Lending & HMDA Data, 2023
In 2023, Thrivent Federal Credit Union of Shakopee, MN reported 550 mortgage applications totaling $87.1 million, down 48% from 2022. The average application was for $158,418, and applicants reported an average income of $138,632. 63% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (79), Appleton, WI (13) and Cleveland-Elyria, OH (12) (applications in parentheses).
| Mortgage Company & Address | Thrivent Federal Credit Union Shakopee, MN 55379 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 |
| Total Number of Mortgage Applications | 550 |
| Total Mortgage Loan Application Amount | $87,130,000 |
| Average Mortgage Loan Application Amount | $158,418 |
| Highest Mortgage Loan Application Amount | $1,405,000 |
| Average Applicant Income | $138,632 |
| Highest Applicant Income | $2,246,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Thrivent Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Thrivent Federal 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 | 210 | $56,680,000 | $269,000 | $1,405,000 | $152,000 | $1,399,000 |
| Other Purpose | 146 | $13,530,000 | $92,000 | $1,285,000 | $139,000 | $2,246,000 |
| Home Improvement | 130 | $8,000,000 | $61,000 | $345,000 | $129,000 | $1,920,000 |
| Cash-out Refinancing | 40 | $6,360,000 | $159,000 | $455,000 | $109,000 | $412,000 |
| Refinancing | 24 | $2,560,000 | $106,000 | $525,000 | $121,000 | $480,000 |
| 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 | 451 | $70,125,000 | $155,000 | $1,405,000 | $140,000 | $2,246,000 |
| Not Provided | 53 | $8,135,000 | $153,000 | $455,000 | $119,000 | $279,000 |
| Hispanic | 14 | $3,190,000 | $227,000 | $615,000 | $150,000 | $399,000 |
| Asian | 13 | $2,265,000 | $174,000 | $555,000 | $132,000 | $307,000 |
| Black or African American | 11 | $1,815,000 | $165,000 | $785,000 | $154,000 | $449,000 |
| Not applicable | 6 | $1,470,000 | $245,000 | $405,000 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 1 | $75,000 | $75,000 | $75,000 | $186,000 | $186,000 |
| American Indian or Alaskan Native | 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) | 548 | $86,660,000 | $158,000 | $1,405,000 | $139,000 | $2,246,000 |
| VA-guaranteed (Veterans Administration) | 2 | $470,000 | $235,000 | $285,000 | $109,000 | $121,000 |
| 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 |
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 | 344 | $55,030,000 | $159,000 | $1,405,000 | $144,000 | $2,246,000 |
| Application Approved But Not Accepted | 111 | $16,825,000 | $151,000 | $555,000 | $161,000 | $1,920,000 |
| Application Denied By Financial Institution | 73 | $9,405,000 | $128,000 | $555,000 | $90,000 | $399,000 |
| Preapproval Approved but not Accepted | 22 | $5,870,000 | $266,000 | $535,000 | $109,000 | $220,000 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 | 477 | $77,725,000 | $162,000 | $1,405,000 | $146,000 | $2,246,000 |
| Debt-To-Income Ratio | 51 | $6,265,000 | $122,000 | $495,000 | $74,000 | $211,000 |
| Credit History | 13 | $925,000 | $71,000 | $235,000 | $114,000 | $197,000 |
| Other | 3 | $735,000 | $245,000 | $525,000 | $218,000 | $399,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $480,000 | $240,000 | $275,000 | $52,000 | $52,000 |
| Collateral | 2 | $300,000 | $150,000 | $205,000 | $87,000 | $147,000 |
| Employment History | 1 | $555,000 | $555,000 | $555,000 | $307,000 | $307,000 |
| Unverifiable Information | 1 | $145,000 | $145,000 | $145,000 | $75,000 | $75,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Thrivent Federal 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 Thrivent Federal 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.
For a list of all lenders in Minnesota, download the full spreadsheet
with aggregated HMDA statistics today.
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