Magnifi Financial Credit Union at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the B 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%
42nd12.6% deniedPricingmedian rate spread over APOR, weight 30%
91st-0.16 ptsProcesswithdrawn + incomplete share, weight 15%
49th17.2%Closing coststotal loan costs ÷ loan amount, weight 10%
26th2.94% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 908 | 651 | 6.4% | 7.2% | 6.75% | $114M |
| 2024 | 1,287 | 867 | 9.9% | 11.9% | 7.00% | $167M |
| 2025 | 1,411 | 947 | 10.4% | 12.6% | 6.25% | $408M |
What Magnifi Financial Credit Union 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: 470 home-equity lines, 0 reverse mortgages, 9 manufactured homes, 115 investment properties.
Why Magnifi Financial Credit Union denies applications
Primary reason reported for each of the 147 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Magnifi Financial Credit Union
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 140 | 75 | 30.5% |
| $50k – $100k | 524 | 339 | 14.1% |
| $100k – $150k | 338 | 239 | 9.8% |
| $150k – $250k | 200 | 146 | 6.4% |
| Over $250k | 63 | 40 | 4.6% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 96 | 71 | 6.2% |
| 25–34 | 282 | 203 | 10.2% |
| 35–44 | 351 | 224 | 15.0% |
| 45–54 | 269 | 178 | 13.1% |
| 55–64 | 198 | 126 | 15.3% |
| 65–74 | 103 | 65 | 15.5% |
| Over 74 | 24 | 10 | 15.4% |
Where Magnifi Financial Credit Union lends
10 states and 67 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Minnesota | 1,377 | 926 | 10.4% | 6.25% | #30 |
| North Dakota | 20 | 15 | 5.0% | 6.25% | #110 |
| Wisconsin | 6 | 5 | 0.0% | 6.63% | #565 |
Frequently asked questions
Magnifi Financial Credit Union denied 12.6% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 42nd percentile of mid-size mortgage lenders.
The most common reason Magnifi Financial Credit Union gave in 2025 was "credit history", cited on 44.9% 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 Magnifi Financial Credit Union originated in 2025 was 6.25%, and its median rate spread over the average prime offer rate was -0.16 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 35% of its applications were for home purchases, 31% for refinancing (including cash-out), and 34% for home improvement or other purposes. By loan type: 100% conventional, 0% FHA, 0% 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.