Bay Equity in North Carolina vs the state
3.4%Denial rate-14.64 pts vs state
5.1%Decision denial rate-17.69 pts vs state
62.8%Origination rate+5.01 pts vs state
6.62%Median rate+0.12 pts vs state
0.08Rate spread (pts)0.00 pts vs state
$126kMedian applicant income
147Loans originated
8Denied
Trend in North Carolina
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 302 | 195 | 5.3% | 6.50% | #155 |
| 2024 | 480 | 318 | 2.7% | 6.63% | #131 |
| 2025 | 234 | 147 | 3.4% | 6.62% | #218 |
What Bay Equity lends in North Carolina
By loan purpose
By loan type
Why it denied North Carolina applicants
Where in North Carolina
Counties with the most Bay Equity applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Mecklenburg County | 39 | 20 | 1 | 2.6% |
| Buncombe County | 38 | 29 | 0 | 0.0% |
| Wake County | 37 | 26 | 1 | 2.7% |
| Guilford County | 17 | 13 | 0 | 0.0% |
| Forsyth County | 15 | 9 | 0 | 0.0% |
| Durham County | 9 | 7 | 0 | 0.0% |
| Cabarrus County | 8 | 4 | 0 | 0.0% |
| Gaston County | 6 | 5 | 0 | 0.0% |
| Johnston County | 5 | 2 | 0 | 0.0% |
| Union County | 5 | 3 | 0 | 0.0% |
Other large lenders in North Carolina
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| State Employees' | C | 47,893 | 25.2% | 6.25% |
| Rocket Mortgage | C | 25,109 | 16.0% | 6.63% |
| United Shore Financial Services | B | 18,884 | 11.4% | 6.13% |
| Vanderbilt Mortgage and Finance | F | 15,008 | 38.0% | 7.75% |
| Truist Bank | C | 14,364 | 30.3% | 6.50% |
| Movement Mortgage | A | 11,091 | 2.6% | 6.63% |
| Navy Federal Credit Union | D | 10,565 | 19.4% | 7.13% |
| First-Citizens Bank & Trust | B | 10,319 | 19.6% | 6.38% |
| Bank of America | F | 10,276 | 28.2% | 6.24% |
| Mortgage Research Center | C | 10,029 | 17.7% | 6.25% |
Frequently asked questions
North Carolina: 234 applications in 2025, of which 147 were originated and 8 denied.
3.4% of all applications, or 5.1% of the applications it actually decided on. The North Carolina statewide average across all lenders was 18.1%.
The median rate on loans Bay Equity originated in North Carolina in 2025 was 6.62%, against a statewide median of 6.50%.
About this data. Figures are Bay Equity's own HMDA filing for properties located in North Carolina, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology