Berkshire Bank 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 412 home-equity (HELOC) lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
50th24.2% deniedPricingmedian rate spread over APOR, weight 30%
91st-1.63 ptsProcesswithdrawn + incomplete share, weight 15%
43rd13.9%Closing coststotal loan costs ÷ loan amount, weight 10%
80th2.01% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 2,374 | 1,558 | 18.6% | 21.6% | 5.88% | $819M |
| 2024 | 2,382 | 1,497 | 20.2% | 23.6% | 6.13% | $834M |
| 2025 | 1,307 | 829 | 20.8% | 24.2% | 5.50% | $663M |
What Berkshire 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
By loan type
Also: 778 home-equity lines, 0 reverse mortgages, 4 manufactured homes, 78 investment properties.
Why Berkshire Bank denies applications
Primary reason reported for each of the 272 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Berkshire Bank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 106 | 32 | 63.3% |
| $50k – $100k | 311 | 168 | 33.6% |
| $100k – $150k | 221 | 136 | 26.2% |
| $150k – $250k | 227 | 156 | 17.4% |
| Over $250k | 396 | 304 | 10.1% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 200 | 133 | 17.8% |
| 35–44 | 333 | 243 | 16.7% |
| 45–54 | 258 | 160 | 27.4% |
| 55–64 | 224 | 123 | 35.4% |
| 65–74 | 188 | 106 | 26.6% |
| Over 74 | 66 | 37 | 32.7% |
Where Berkshire Bank lends
10 states and 88 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Massachusetts | 801 | 530 | 18.4% | 5.50% | #61 |
| Connecticut | 187 | 109 | 24.6% | 5.00% | #108 |
| New York | 153 | 84 | 29.4% | 6.13% | #232 |
| Rhode Island | 74 | 49 | 17.6% | 5.88% | #78 |
| Vermont | 40 | 24 | 32.5% | 5.00% | #61 |
| New Hampshire | 20 | 14 | 25.0% | 6.38% | #190 |
| Florida | 16 | 9 | 12.5% | 6.50% | #805 |
| Maine | 9 | 5 | 11.1% | 6.88% | #226 |
| New Jersey | 6 | 4 | 0.0% | 7.33% | #584 |
Frequently asked questions
Berkshire Bank denied 24.2% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 50th percentile of home-equity (HELOC) lenders.
The most common reason Berkshire Bank gave in 2025 was "debt-to-income ratio", cited on 44.5% 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 Berkshire Bank originated in 2025 was 5.50%, and its median rate spread over the average prime offer rate was -1.63 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 37% of its applications were for home purchases, 25% for refinancing (including cash-out), and 38% for home improvement or other purposes. By loan type: 97% conventional, 2% FHA, 1% 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.