1st State Financial 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 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%
60th7.5% deniedProcesswithdrawn + incomplete share, weight 15%
60th9.5%Trend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 226 | 176 | 8.0% | 9.1% | 6.63% | $31M |
| 2024 | 194 | 142 | 12.9% | 14.9% | — | $25M |
| 2025 | 147 | 123 | 6.8% | 7.5% | — | $51M |
What 1st State 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, 2 manufactured homes, 48 investment properties.
Who gets approved at 1st State Financial
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| $50k – $100k | 45 | 36 | 7.7% |
| $150k – $250k | 20 | 16 | 0.0% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 42 | 34 | 5.6% |
| 35–44 | 22 | 18 | 5.3% |
| 55–64 | 20 | 15 | 11.8% |
Where 1st State Financial lends
3 states and 25 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Michigan | 144 | 121 | 6.9% | — | #240 |
Frequently asked questions
1st State Financial denied 7.5% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 60th percentile of small mortgage lenders.
In 2025, 75% of its applications were for home purchases, 18% for refinancing (including cash-out), and 7% 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.