Mortgage lender · Elko New Market, MN · LEI 2549002N9QET42VCAS33

New Market Bank review: approval odds, rates and grade (2025)

New Market Bank earns an A, placing it in the top fifth of small mortgage lenders. It turned down 2.1% of the applications it decided on in 2025, which ranks in the 88th percentile for approval odds. Compared against 1,883 small mortgage lenders using 2025 HMDA filings.

158Applications2025
87.3%Originatedof applications
2.1%Decision denial ratenational 22.6%
Median ratenational 6.63%
$47MLoan volume7 states

New Market Bank at a glance, 2025

Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.

1.9%Denial rate (all applications)-16.08 pts vs national
2.1%Denial rate (decided applications)-20.46 pts vs national
87.3%Origination rate+29.31 pts vs national
10.8%Withdrawn by applicant
0.0%Closed for incompleteness
Median interest rate
Median rate spread (pts over APOR)
$285,000Median loan amount
Median total loan costs
$112kMedian applicant income
Median loan-to-value
0High-cost (HOEPA) loans

How the A grade breaks down

Each component is a percentile rank among 1,883 small mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.

Approval oddsdecision denial rate, weight 45%

88th2.1% denied

Processwithdrawn + incomplete share, weight 15%

54th10.8%

Trend, 2023–2025

YearApplicationsOriginatedDenial rateDecision denialMedian rateVolume
2023105840.0%0.0%6.69%$29M
20241571355.1%5.5%$45M
20251581381.9%2.1%$47M

What New Market Bank 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

Home purchase 131 83% · 2.3% denied
Refinance 14 9% · 0.0% denied
Cash-out refinance 8 5% · 0.0% denied
Other / HELOC 5 3% · 0.0% denied

By loan type

Conventional 157 99% · 1.9% denied
FHA 1 1% · 0.0% denied

Also: 0 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 14 investment properties.

Who gets approved at New Market Bank

Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.

Applicant incomeApplicationsOriginatedDecision denial rate
$50k – $100k55484.0%
$100k – $150k52440.0%
$150k – $250k24210.0%
Applicant ageApplicationsOriginatedDecision denial rate
25–3450434.4%
35–4441352.8%

Where New Market Bank lends

7 states and 34 counties in 2025. Click a state for the lender's full record there.

StateApplicationsOriginatedDenial rateMedian rateRank in state
Minnesota1451252.1%#164
Wisconsin660.0%#559

Frequently asked questions

New Market Bank denied 2.1% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 88th percentile of small mortgage lenders.

In 2025, 83% of its applications were for home purchases, 14% for refinancing (including cash-out), and 3% for home improvement or other purposes. By loan type: 99% conventional, 1% 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.

About this data. HMDA data is published once a year by the CFPB. The current release covers applications acted on in calendar year 2025. Figures describe applications the lender acted on, including loans it later sold. Interest rates and costs are medians on originated loans only; some depository institutions are exempt from reporting pricing fields, which is why a few cells read "—". MortgageGrades is not affiliated with New Market Bank. Data sources · Methodology