Lender profile · HMDA 2023–2025
Alerus Financial, National Association mortgage approval rates & lending data
Alerus Financial, National Association decided 4,199 mortgage applications and funded 3,900 loans across the 616 counties Fat Boy Data covers, 2023–2025.
Approval by loan type
| Loan type | Approval | Approved | Taken up | Typical loan | Loans made |
|---|---|---|---|---|---|
| Mortgage lenders | 99% | 2,573 / 2,612 | 98% | $325K | 2,515 |
| Home improvement loans | 91% | 433 / 474 | 96% | $115K | 416 |
| Cash-out refinance | 90% | 74 / 82 | 99% | $245K | 73 |
| Refinance | 90% | 618 / 688 | 97% | $245K | 598 |
| Investment property purchase | 97% | 168 / 173 | 96% | $245K | 162 |
| Investment refinance | 88% | 99 / 112 | 88% | $135K | 87 |
| Investment home improvement | 83% | 39 / 47 | 97% | $165K | 38 |
Alerus Financial, National Association lending by state
| State | Approval | Typical loan | Decided | Loans made |
|---|---|---|---|---|
| Minnesota | 96% | $325K | 3,328 | 3,104 |
| Arizona | 93% | $465K | 292 | 266 |
| North Dakota | 91% | $105K | 288 | 253 |
| Wisconsin | 96% | $235K | 112 | 105 |
| Florida | 95% | $405K | 42 | 40 |
| Colorado | 100% | $425K | 19 | 18 |
| California | 94% | $765K | 18 | 17 |
| Texas | 100% | $345K | 11 | 11 |
| North Carolina | 100% | $585K | 8 | 8 |
| Pennsylvania | 86% | $165K | 7 | 6 |
| Georgia | 100% | $355K | 6 | 6 |
| Ohio | 100% | $415K | 6 | 6 |
| Indiana | 100% | $55K | 5 | 5 |
| South Carolina | 100% | $285K | 5 | 5 |
| Arkansas | 100% | $265K | 4 | 4 |
Covers the 616 counties in the Fat Boy Data footprint, which is 79.6% of the US population — not every county in each state. Methodology.