Merchants Bank, National Association mortgage approval rate & lending review
Merchants Bank, National Association decided 1,332 mortgage applications and funded 1,264 loans across the 616 counties Fat Boy Data covers, 2023–2025.
These are the decisions Merchants Bank, National Association reported under the Home Mortgage Disclosure Act, not its advertised interest rates.
Merchants Bank, National Association at a glance
Approval is 15.2 points above the 80.5% 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 | 97% | 611 / 630 | 100% | $275K | 609 |
| Home improvement loans | 93% | 182 / 195 | 98% | $55K | 178 |
| Cash-out refinance | 92% | 46 / 50 | 96% | $195K | 44 |
| Refinance | 94% | 227 / 241 | 100% | $105K | 227 |
| Investment property purchase | 97% | 143 / 148 | 99% | $205K | 141 |
| Investment refinance | 98% | 51 / 52 | 98% | $205K | 50 |
Merchants Bank, National Association lending by state
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 Merchants Bank, National Association lends most
| County | Loan type | Approval | Decided | Loans made |
|---|---|---|---|---|
| Olmsted County, MN | Mortgage lenders | 98% | 164 | 159 |
| Dakota County, MN | Mortgage lenders | 99% | 123 | 122 |
| La Crosse County, WI | Mortgage lenders | 95% | 110 | 105 |
| Dakota County, MN | Refinance | 92% | 71 | 65 |
| Dakota County, MN | Home improvement loans | 100% | 53 | 53 |
| Olmsted County, MN | Refinance | 98% | 49 | 48 |
| Olmsted County, MN | Home improvement loans | 85% | 46 | 35 |
| La Crosse County, WI | Refinance | 90% | 39 | 35 |
| La Crosse County, WI | Investment property purchase | 100% | 36 | 35 |
| La Crosse County, WI | Home improvement loans | 94% | 36 | 34 |
| Scott County, MN | Mortgage lenders | 100% | 32 | 32 |
| Hennepin County, MN | Investment property purchase | 100% | 25 | 25 |
The county markets where Merchants Bank, National Association made the most loans. Each link opens that market with every lender ranked.
Questions about Merchants Bank, National Association
What is Merchants Bank, National Association's mortgage approval rate?
Merchants Bank, National Association approved 95.7% of the 1,332 mortgage applications it decided across the 616 counties Fat Boy Data covers, 2023–2025, 15.2 points above the 80.5% national rate for the same mix of loan types.
How often do borrowers take the loan Merchants Bank, National Association offers?
Borrowers accepted 99% of the loans Merchants Bank, National Association 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 Merchants Bank, National Association make?
The typical home purchase mortgage loan Merchants Bank, National Association made was $275K; across all loan types its typical loan ran from $55K to $275K. HMDA reports amounts in $10,000 brackets, so these are midpoints.
Where does Merchants Bank, National Association lend?
Merchants Bank, National Association decided applications in 17 of the states Fat Boy Data covers, most of them in Minnesota, Wisconsin and Florida.
Can I apply to Merchants Bank, National Association directly?
Yes. Merchants Bank, National Association is a bank or credit union with 28 branches in the FDIC and NCUA registries, and it takes mortgage applications directly.
Does this page show Merchants Bank, National Association'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 Merchants Bank, National Association treats applications, then get a rate quote from the lender.