Carter Bank & Trust at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the C 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%
41st28.0% deniedPricingmedian rate spread over APOR, weight 30%
12th0.83 ptsProcesswithdrawn + incomplete share, weight 15%
85th5.7%Closing coststotal loan costs ÷ loan amount, weight 10%
15th5.02% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 510 | 304 | 29.8% | 32.2% | 8.00% | $234M |
| 2024 | 490 | 304 | 28.2% | 30.5% | 8.38% | $277M |
| 2025 | 523 | 345 | 26.4% | 28.0% | 7.25% | $296M |
What Carter Bank & Trust 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: 369 home-equity lines, 0 reverse mortgages, 13 manufactured homes, 80 investment properties.
Why Carter Bank & Trust denies applications
Primary reason reported for each of the 138 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Carter Bank & Trust
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 99 | 40 | 55.1% |
| $50k – $100k | 116 | 63 | 41.1% |
| $100k – $150k | 84 | 63 | 20.0% |
| $150k – $250k | 81 | 65 | 17.7% |
| Over $250k | 60 | 45 | 10.9% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 43 | 29 | 27.5% |
| 35–44 | 73 | 51 | 28.8% |
| 45–54 | 90 | 60 | 26.2% |
| 55–64 | 97 | 53 | 41.3% |
| 65–74 | 85 | 56 | 26.9% |
| Over 74 | 65 | 36 | 35.7% |
Where Carter Bank & Trust lends
7 states and 102 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Virginia | 325 | 205 | 28.3% | 7.63% | #151 |
| North Carolina | 181 | 123 | 25.4% | 7.25% | #240 |
| South Carolina | 5 | 5 | 0.0% | 6.50% | #653 |
Frequently asked questions
Carter Bank & Trust denied 28.0% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 41st percentile of home-equity (HELOC) lenders.
The most common reason Carter Bank & Trust gave in 2025 was "debt-to-income ratio", cited on 60.9% 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 Carter Bank & Trust originated in 2025 was 7.25%, and its median rate spread over the average prime offer rate was 0.83 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 25% of its applications were for home purchases, 18% for refinancing (including cash-out), and 57% 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.