Charles Schwab Bank 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 581 mid-size mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
71st5.2% deniedPricingmedian rate spread over APOR, weight 30%
93rd-0.19 ptsProcesswithdrawn + incomplete share, weight 15%
99th0.1%Closing coststotal loan costs ÷ loan amount, weight 10%
96th0.62% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 2,997 | 2,727 | 7.2% | 7.2% | 5.98% | $2.6B |
| 2024 | 4,496 | 4,142 | 6.3% | 6.3% | 6.05% | $3.8B |
| 2025 | 6,522 | 6,065 | 5.2% | 5.2% | 5.58% | $6.2B |
What Charles Schwab 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: 443 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 579 investment properties.
Why Charles Schwab Bank denies applications
Primary reason reported for each of the 340 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Charles Schwab Bank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 30 | 22 | 23.3% |
| $50k – $100k | 232 | 197 | 12.1% |
| $100k – $150k | 407 | 376 | 6.9% |
| $150k – $250k | 1,053 | 971 | 6.2% |
| Over $250k | 4,667 | 4,380 | 4.3% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 53 | 48 | 5.7% |
| 25–34 | 634 | 600 | 3.8% |
| 35–44 | 1,317 | 1,223 | 5.7% |
| 45–54 | 1,163 | 1,073 | 5.9% |
| 55–64 | 1,653 | 1,531 | 5.6% |
| 65–74 | 1,248 | 1,182 | 3.6% |
| Over 74 | 454 | 408 | 7.1% |
Where Charles Schwab Bank lends
51 states and 696 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| California | 1,880 | 1,748 | 5.3% | 5.50% | #110 |
| Florida | 545 | 485 | 9.5% | 5.55% | #232 |
| Texas | 379 | 359 | 4.0% | 5.50% | #306 |
| Colorado | 333 | 314 | 3.6% | 5.60% | #138 |
| Washington | 283 | 265 | 4.6% | 5.50% | #157 |
| Arizona | 245 | 233 | 3.7% | 5.63% | #161 |
| Illinois | 218 | 200 | 6.0% | 5.63% | #237 |
| New York | 211 | 192 | 7.6% | 5.63% | #202 |
| New Jersey | 194 | 178 | 4.6% | 5.78% | #201 |
| North Carolina | 183 | 172 | 4.4% | 5.63% | #239 |
| Massachusetts | 179 | 168 | 4.5% | 5.50% | #174 |
| Georgia | 152 | 146 | 2.6% | 5.75% | #277 |
| Virginia | 139 | 132 | 2.9% | 5.63% | #250 |
| Nevada | 123 | 114 | 4.9% | 5.63% | #132 |
| South Carolina | 114 | 105 | 7.0% | 5.63% | #243 |
| Tennessee | 110 | 101 | 4.6% | 5.50% | #304 |
| Oregon | 105 | 97 | 3.8% | 5.50% | #166 |
| Connecticut | 98 | 92 | 5.1% | 5.59% | #169 |
| Maryland | 98 | 93 | 3.1% | 5.68% | #232 |
| Pennsylvania | 95 | 92 | 2.1% | 5.73% | #381 |
| Utah | 88 | 84 | 2.3% | 5.38% | #138 |
| Michigan | 67 | 61 | 6.0% | 5.75% | #320 |
| Ohio | 63 | 59 | 6.4% | 5.73% | #378 |
| Minnesota | 58 | 57 | 1.7% | 5.80% | #276 |
| Idaho | 50 | 46 | 6.0% | 5.49% | #164 |
| Indiana | 48 | 46 | 4.2% | 5.63% | #354 |
| Wisconsin | 39 | 35 | 5.1% | 5.75% | #363 |
| New Hampshire | 37 | 35 | 5.4% | 5.75% | #148 |
| Missouri | 36 | 36 | 0.0% | 5.63% | #381 |
| District of Columbia | 31 | 29 | 6.5% | 5.55% | #98 |
| Montana | 30 | 27 | 6.7% | 5.63% | #120 |
| Alabama | 28 | 26 | 7.1% | 5.88% | #367 |
| Hawaii | 28 | 24 | 14.3% | 5.49% | #117 |
| Maine | 23 | 20 | 13.0% | 5.38% | #167 |
| New Mexico | 23 | 19 | 4.4% | 5.88% | #192 |
| Rhode Island | 21 | 20 | 4.8% | 5.50% | #142 |
| Delaware | 20 | 20 | 0.0% | 5.44% | #187 |
| Kentucky | 20 | 19 | 0.0% | 5.55% | #350 |
| Arkansas | 19 | 18 | 5.3% | 5.80% | #289 |
| Oklahoma | 15 | 12 | 13.3% | 5.59% | #356 |
| Louisiana | 14 | 13 | 7.1% | 5.58% | #350 |
| Wyoming | 14 | 13 | 7.1% | 5.75% | #123 |
| Kansas | 13 | 11 | 7.7% | 5.68% | #337 |
| Nebraska | 13 | 13 | 0.0% | 5.63% | #230 |
| West Virginia | 9 | 9 | 0.0% | 5.88% | #264 |
| Mississippi | 8 | 7 | 12.5% | 5.75% | #296 |
| Iowa | 7 | 7 | 0.0% | 5.88% | #386 |
| Vermont | 7 | 5 | 28.6% | 5.38% | #132 |
Frequently asked questions
Charles Schwab Bank denied 5.2% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 71st percentile of mid-size mortgage lenders.
The most common reason Charles Schwab Bank gave in 2025 was "collateral", cited on 39.7% 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 Charles Schwab Bank originated in 2025 was 5.58%, and its median rate spread over the average prime offer rate was -0.19 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 65% of its applications were for home purchases, 26% 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.