BMI Federal Credit Union 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%
88th12.3% deniedPricingmedian rate spread over APOR, weight 30%
43rd0.24 ptsProcesswithdrawn + incomplete share, weight 15%
54th11.8%Closing coststotal loan costs ÷ loan amount, weight 10%
46th3.27% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 521 | 413 | 6.0% | 7.0% | 8.25% | $61M |
| 2024 | 470 | 349 | 11.5% | 13.4% | 8.50% | $44M |
| 2025 | 543 | 420 | 10.9% | 12.3% | 7.50% | $74M |
What BMI Federal Credit Union 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: 381 home-equity lines, 0 reverse mortgages, 1 manufactured homes, 1 investment properties.
Why BMI Federal Credit Union denies applications
Primary reason reported for each of the 59 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at BMI Federal Credit Union
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 25 | 10 | 52.4% |
| $50k – $100k | 163 | 121 | 14.2% |
| $100k – $150k | 149 | 117 | 10.7% |
| $150k – $250k | 148 | 124 | 6.8% |
| Over $250k | 57 | 48 | 7.7% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 66 | 49 | 19.7% |
| 35–44 | 126 | 92 | 14.0% |
| 45–54 | 131 | 105 | 10.3% |
| 55–64 | 131 | 104 | 11.1% |
| 65–74 | 59 | 43 | 12.2% |
| Over 74 | 28 | 25 | 3.9% |
Where BMI Federal Credit Union lends
6 states and 41 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Ohio | 535 | 412 | 11.0% | 7.50% | #128 |
Frequently asked questions
BMI Federal Credit Union denied 12.3% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 88th percentile of home-equity (HELOC) lenders.
The most common reason BMI Federal Credit Union gave in 2025 was "debt-to-income ratio", cited on 54.2% 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 BMI Federal Credit Union originated in 2025 was 7.50%, and its median rate spread over the average prime offer rate was 0.24 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 18% of its applications were for home purchases, 12% for refinancing (including cash-out), and 69% 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.