Better Banks at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the A 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%
86th2.4% deniedProcesswithdrawn + incomplete share, weight 15%
78th5.2%Trend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 173 | 147 | 4.6% | 4.7% | — | $22M |
| 2024 | 175 | 153 | 4.0% | 4.1% | — | $23M |
| 2025 | 173 | 146 | 2.3% | 2.4% | — | $26M |
What Better Banks 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, 3 manufactured homes, 43 investment properties.
Why Better Banks denies applications
Primary reason reported for each of the 4 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Better Banks
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| $50k – $100k | 54 | 43 | 2.0% |
| $100k – $150k | 34 | 30 | 3.0% |
| $150k – $250k | 22 | 20 | 0.0% |
| Over $250k | 21 | 15 | 4.8% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 32 | 25 | 3.5% |
| 35–44 | 42 | 39 | 2.4% |
| 45–54 | 29 | 23 | 0.0% |
Where Better Banks lends
4 states and 14 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Illinois | 169 | 143 | 1.8% | — | #273 |
Frequently asked questions
Better Banks denied 2.4% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 86th percentile of small mortgage lenders.
The most common reason Better Banks gave in 2025 was "credit history", cited on 50.0% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
In 2025, 57% of its applications were for home purchases, 34% for refinancing (including cash-out), and 9% 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.