M/i Financial at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the A grade breaks down
Each component is a percentile rank among 581 mid-size mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
89th2.8% deniedPricingmedian rate spread over APOR, weight 30%
98th-0.74 ptsProcesswithdrawn + incomplete share, weight 15%
95th4.2%Closing coststotal loan costs ÷ loan amount, weight 10%
16th3.37% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 7,319 | 5,287 | 2.3% | 2.4% | 6.13% | $2.1B |
| 2024 | 8,423 | 6,557 | 2.8% | 2.9% | 6.13% | $2.6B |
| 2025 | 8,501 | 7,003 | 2.7% | 2.8% | 5.88% | $2.9B |
What M/i Financial lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 0 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 249 investment properties.
Why M/i Financial denies applications
Primary reason reported for each of the 231 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at M/i Financial
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 96 | 55 | 25.3% |
| $50k – $100k | 1,876 | 1,505 | 5.9% |
| $100k – $150k | 2,757 | 2,321 | 2.4% |
| $150k – $250k | 2,789 | 2,348 | 1.1% |
| Over $250k | 979 | 774 | 0.8% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 272 | 234 | 2.3% |
| 25–34 | 2,549 | 2,189 | 2.9% |
| 35–44 | 2,664 | 2,178 | 3.3% |
| 45–54 | 1,574 | 1,301 | 2.7% |
| 55–64 | 896 | 700 | 2.6% |
| 65–74 | 430 | 322 | 1.2% |
| Over 74 | 116 | 79 | 1.9% |
Where M/i Financial lends
10 states and 79 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Texas | 2,534 | 2,129 | 3.4% | 4.88% | #78 |
| Florida | 1,518 | 1,223 | 3.2% | 5.50% | #111 |
| Ohio | 1,365 | 1,088 | 1.2% | 5.88% | #68 |
| North Carolina | 814 | 723 | 0.4% | 5.88% | #96 |
| Illinois | 726 | 566 | 3.7% | 5.88% | #101 |
| Minnesota | 661 | 571 | 0.9% | 5.88% | #66 |
| Indiana | 535 | 437 | 7.1% | 5.38% | #112 |
| Michigan | 243 | 185 | 2.1% | 5.88% | #191 |
| Tennessee | 98 | 74 | 3.1% | 5.19% | #327 |
| South Carolina | 7 | 7 | 0.0% | 4.88% | #596 |
Frequently asked questions
M/i Financial denied 2.8% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 89th percentile of mid-size mortgage lenders.
The most common reason M/i Financial gave in 2025 was "debt-to-income ratio", cited on 61.9% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans M/i Financial originated in 2025 was 5.88%, and its median rate spread over the average prime offer rate was -0.74 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 100% of its applications were for home purchases, 0% for refinancing (including cash-out), and 0% for home improvement or other purposes. By loan type: 57% conventional, 32% FHA, 10% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.