Mankato Mortgage Lending in 2025

Explore mortgage lending activity in Mankato (MSA/MD Code 31860) using official HMDA public records. Review underwriting outcomes, borrower characteristics, and regional lending benchmarks.

Source: Federal Financial Institutions Examination Council (FFIEC) / Consumer Financial Protection Bureau (CFPB) • Dataset: 2025 Snapshot National Loan-Level Dataset • Updated: June 2, 2026 • Methodology →
Metropolitan Area 31860
995 Loans Originated
• Primary State: Minnesota (MN)
• $267.75 Million Originated Volume
• $245,000 Median Loan
Actionable Applications 1,217 +15.90% vs 2024
Approval Rate 85.70% +0.27 pp vs 2024
Denial Rate 14.30% -0.27 pp vs 2024
Loan Originations 995 +14.90% vs 2024
Originated Volume $267.75 Million +14.96% vs 2024

Credit Decision Outcomes (2025)

Outcomes for 1,217 actionable applications (Actions 1, 2, and 3).

85.70%
14.30%
1,043 approved 174 denied
Action 1: Originated
995 (81.76%)
Action 2: Approved not accepted
48 (3.94%)
Action 3: Denied
174 (14.30%)
Action 4: Withdrawn (not in denominator)
201 —
Action 5: Incomplete (not in denominator)
82 —
How to read this: Approval rate uses Actions 1, 2, and 3. Actions 4 and 5 are excluded from the credit decision denominator. Read the full methodology →

How Mankato Compares

Metro vs. State Baseline (2025)

Metric Mankato Minnesota
Actionable Apps 1,217 86,487
Approval Rate 85.70% 87.78%
Denial Rate 14.30% 12.22%
Originations 995 73,371
Originated Volume $267.75 Million $24.55 Billion
Median Loan $245,000 $305,000
Compared against Minnesota statewide baseline in 2025.

Lending Trends in Mankato

Year-over-year shifts: 2025 vs. 2024

Metric 2024 2025 Change
Consumer Universe 1,271 1,500 +18.02%
Actionable Apps 1,050 1,217 +15.90%
Originations 866 995 +14.90%
Approval Rate 85.43% 85.70% +0.27 pp
Denial Rate 14.57% 14.30% -0.27 pp
Median Loan $245,000 $245,000 0.00%
Dollar Volume $232.91 Million $267.75 Million +14.96%

Applications by Borrower Income (Mankato)

Approval and denial rates across gross annual income tiers (2025)

Income Bracket Apps Approval % Denial %
$100k–$149,999 289 93.08% 6.92%
$150k+ 194 92.78% 7.22%
$50k–$99,999 531 85.31% 14.69%
<$50k 130 58.46% 41.54%
Income unavailable/entity 73 89.04% 10.96%
Gross annual borrower income relied upon during credit underwriting. Descriptive figures only; does not establish causation.

Geographic Market Context

Regional integration within Minnesota (2025)

Official Geographic Designation: Metropolitan Statistical Area / Division 31860, anchored in Minnesota (MN).
Metro Share of State Apps 1.41%
Metro Share of State Volume 1.09%
Geographic Notice: OpenFileData reports verified OMB-designated metropolitan boundaries. Detailed county-level vector choropleths are omitted unless authoritative polygon geometries and county-level consumer records are officially available, preventing data fabrication.

Parent State Association

Explore Minnesota statewide mortgage activity

Mankato is part of OpenFileData’s statewide coverage of Minnesota. View statewide approval benchmarks, metropolitan rankings, and institution profiles across all reporting jurisdictions.

Minnesota Statewide Overview Active Profile
Statewide Actionable Applications: 86,487
Explore Minnesota State Profile →

Methodology

Learn how HMDA credit outcomes, action codes, and consumer filters are computed.

Read Methodology →

Minnesota Profile

Compare all metropolitan areas located in Minnesota.

View State Page →

Download Data

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Methodology & Disclosures

Credit Decision Denominator Rule: Approval and denial rates are calculated strictly among actionable applications reaching a formal credit underwriting decision (Actions 1, 2, and 3: loan originated, approved but not accepted, denied). Applications withdrawn by borrower (Action 4) and closed for incompleteness (Action 5) are tracked in the broader Consumer Mortgage Universe for market completeness but excluded from credit decision rates as no underwriting decision occurred.

Official Data Source & Freeze Date: Official Home Mortgage Disclosure Act (HMDA) records published by the Federal Financial Institutions Examination Council (FFIEC) and Consumer Financial Protection Bureau (CFPB). Primary analysis uses the 2025 Snapshot National Loan-Level Dataset (frozen June 2, 2026); historical baseline uses the 2024 One-Year National Loan-Level Dataset (frozen June 2, 2026).

Public Interest Commitment: OpenFileData does not sell mortgage leads, lender placements, paid rankings, or individualized mortgage recommendations.

For complete technical formulas, SQL implementations, and data definitions, read the full Mortgage Lending Methodology Specification.