Bank of Springfield 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%
58th7.7% deniedPricingmedian rate spread over APOR, weight 30%
55th0.23 ptsProcesswithdrawn + incomplete share, weight 15%
67th13.4%Closing coststotal loan costs ÷ loan amount, weight 10%
88th1.14% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 1,025 | 837 | 6.6% | 7.5% | 7.13% | $194M |
| 2024 | 1,064 | 852 | 7.3% | 8.3% | 7.00% | $227M |
| 2025 | 1,201 | 957 | 6.7% | 7.7% | 6.75% | $249M |
What Bank of Springfield 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, 5 manufactured homes, 335 investment properties.
Why Bank of Springfield denies applications
Primary reason reported for each of the 80 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Bank of Springfield
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 84 | 53 | 25.4% |
| $50k – $100k | 273 | 210 | 8.3% |
| $100k – $150k | 239 | 188 | 8.3% |
| $150k – $250k | 209 | 163 | 7.4% |
| Over $250k | 164 | 140 | 2.8% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 56 | 46 | 8.0% |
| 25–34 | 270 | 210 | 8.3% |
| 35–44 | 246 | 189 | 7.8% |
| 45–54 | 141 | 112 | 10.4% |
| 55–64 | 163 | 132 | 7.7% |
| 65–74 | 90 | 72 | 8.9% |
| Over 74 | 37 | 23 | 11.5% |
Where Bank of Springfield lends
31 states and 135 counties in 2025. Click a state for the lender's full record there.
Frequently asked questions
Bank of Springfield denied 7.7% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 58th percentile of mid-size mortgage lenders.
The most common reason Bank of Springfield gave in 2025 was "debt-to-income ratio", cited on 43.8% 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 Bank of Springfield originated in 2025 was 6.75%, and its median rate spread over the average prime offer rate was 0.23 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 72% of its applications were for home purchases, 23% for refinancing (including cash-out), and 5% for home improvement or other purposes. By loan type: 96% conventional, 2% FHA, 2% 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.