Luminate Bank mortgage approval rate & lending review
Luminate Bank decided 7,204 mortgage applications and funded 6,828 loans across the 616 counties Fat Boy Data covers, 2023–2025.
These are the decisions Luminate Bank reported under the Home Mortgage Disclosure Act, not its advertised interest rates.
Luminate Bank at a glance
Approval is 10.8 points above the 84.8% national rate for the same mix of loan types.
Approval rates by loan type
| Loan type | Approval | Approved | Taken up | Typical loan | Loans made |
|---|---|---|---|---|---|
| Mortgage lenders | 96% | 5,123 / 5,315 | 99% | $325K | 5,085 |
| Cash-out refinance | 91% | 399 / 439 | 97% | $305K | 388 |
| Refinance | 95% | 681 / 715 | 99% | $385K | 676 |
| Investment property purchase | 96% | 461 / 481 | 99% | $295K | 457 |
| Investment cash-out refinance | 88% | 151 / 171 | 98% | $215K | 148 |
| Investment refinance | 90% | 64 / 71 | 98% | $405K | 63 |
Luminate Bank lending by state
| State | Approval | Typical loan | Decided | Loans made |
|---|---|---|---|---|
| New Jersey | 95% | $485K | 1,117 | 1,056 |
| Minnesota | 97% | $315K | 1,096 | 1,056 |
| Florida | 93% | $295K | 721 | 657 |
| Colorado | 97% | $465K | 500 | 483 |
| Indiana | 98% | $255K | 313 | 303 |
| Delaware | 94% | $325K | 299 | 277 |
| Washington | 96% | $505K | 254 | 242 |
| South Carolina | 96% | $325K | 226 | 218 |
| Kentucky | 98% | $285K | 208 | 201 |
| New York | 94% | $605K | 198 | 187 |
| Texas | 93% | $275K | 191 | 176 |
| Maryland | 94% | $345K | 188 | 176 |
| Wisconsin | 95% | $265K | 185 | 176 |
| Arizona | 99% | $425K | 139 | 136 |
| New Hampshire | 98% | $395K | 137 | 134 |
Fat Boy Data covers 616 counties, 79.6% of the US population, not every county in every state. States with fewer than 20 decisions are not listed.Methodology.
Where Luminate Bank lends most
| County | Loan type | Approval | Decided | Loans made |
|---|---|---|---|---|
| Hennepin County, MN | Mortgage lenders | 97% | 387 | 373 |
| Bergen County, NJ | Mortgage lenders | 95% | 160 | 151 |
| Morris County, NJ | Mortgage lenders | 97% | 126 | 121 |
| Dakota County, MN | Mortgage lenders | 99% | 119 | 116 |
| Essex County, NJ | Mortgage lenders | 97% | 115 | 112 |
| Ramsey County, MN | Mortgage lenders | 99% | 112 | 111 |
| Marion County, FL | Mortgage lenders | 92% | 114 | 105 |
| Fayette County, KY | Mortgage lenders | 99% | 106 | 104 |
| Passaic County, NJ | Mortgage lenders | 96% | 101 | 96 |
| Anoka County, MN | Mortgage lenders | 97% | 95 | 90 |
| Sussex County, DE | Mortgage lenders | 96% | 89 | 84 |
| Vanderburgh County, IN | Mortgage lenders | 98% | 83 | 81 |
The county markets where Luminate Bank made the most loans. Each link opens that market with every lender ranked.
Questions about Luminate Bank
What is Luminate Bank's mortgage approval rate?
Luminate Bank approved 95.6% of the 7,204 mortgage applications it decided across the 616 counties Fat Boy Data covers, 2023–2025, 10.8 points above the 84.8% national rate for the same mix of loan types.
How often do borrowers take the loan Luminate Bank offers?
Borrowers accepted 99% of the loans Luminate Bank approved, against 96% for all home purchase mortgage lenders nationally. A low take-up usually means the approved terms were not competitive.
What size loans does Luminate Bank make?
The typical home purchase mortgage loan Luminate Bank made was $325K; across all loan types its typical loan ran from $215K to $405K. HMDA reports amounts in $10,000 brackets, so these are midpoints.
Where does Luminate Bank lend?
Luminate Bank decided applications in 51 of the states Fat Boy Data covers, most of them in New Jersey, Minnesota and Florida.
Can I apply to Luminate Bank directly?
Yes. Luminate Bank is a bank or credit union with 2 branches in the FDIC and NCUA registries, and it takes mortgage applications directly.
Does this page show Luminate Bank's interest rates?
No. HMDA filings record who applied, who was approved and how much was borrowed, not the rate offered. Use the approval rate and take-up here to judge how Luminate Bank treats applications, then get a rate quote from the lender.