Credence Funding 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%
93rd1.1% deniedPricingmedian rate spread over APOR, weight 30%
99th-0.88 ptsProcesswithdrawn + incomplete share, weight 15%
8th27.2%Closing coststotal loan costs ÷ loan amount, weight 10%
50th1.91% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 98 | 73 | 2.0% | 2.7% | 6.00% | $23M |
| 2024 | 621 | 379 | 0.0% | 0.0% | 5.75% | $132M |
| 2025 | 379 | 273 | 0.8% | 1.1% | 5.75% | $100M |
What Credence Funding 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, 9 manufactured homes, 0 investment properties.
Why Credence Funding denies applications
Primary reason reported for each of the 3 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Credence Funding
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 76 | 58 | 0.0% |
| 35–44 | 46 | 33 | 2.9% |
| 45–54 | 50 | 34 | 2.9% |
| 55–64 | 69 | 54 | 0.0% |
| 65–74 | 72 | 50 | 2.0% |
| Over 74 | 59 | 39 | 0.0% |
Where Credence Funding lends
23 states and 230 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Maryland | 40 | 33 | 5.0% | 6.38% | #342 |
| Georgia | 36 | 24 | 2.8% | 5.75% | #490 |
| Texas | 34 | 26 | 0.0% | 5.56% | #771 |
| Florida | 33 | 23 | 0.0% | 5.63% | #669 |
| North Carolina | 33 | 20 | 0.0% | 5.75% | #457 |
| Illinois | 22 | 16 | 0.0% | 5.63% | #579 |
| Alabama | 21 | 17 | 0.0% | 5.63% | #393 |
| Oklahoma | 18 | 15 | 0.0% | 5.63% | #342 |
| Indiana | 17 | 15 | 0.0% | 5.50% | #482 |
| Tennessee | 17 | 13 | 0.0% | 5.75% | #565 |
| Virginia | 17 | 11 | 0.0% | 5.50% | #508 |
| Washington | 15 | 11 | 0.0% | 5.50% | #418 |
| Pennsylvania | 14 | 9 | 0.0% | 5.75% | #640 |
| California | 12 | 8 | 0.0% | 5.75% | #711 |
| Michigan | 11 | 9 | 0.0% | 5.75% | #505 |
| Ohio | 10 | 5 | 0.0% | 5.75% | #617 |
| New Jersey | 7 | 6 | 0.0% | 5.63% | #565 |
| Arizona | 6 | 3 | 0.0% | 5.99% | #575 |
| Colorado | 5 | 2 | 0.0% | 5.75% | #609 |
| Delaware | 5 | 3 | 0.0% | 5.75% | #315 |
Frequently asked questions
Credence Funding denied 1.1% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 93rd percentile of small mortgage lenders.
The most common reason Credence Funding gave in 2025 was "credit history", cited on 33.3% 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 Credence Funding originated in 2025 was 5.75%, and its median rate spread over the average prime offer rate was -0.88 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 8% of its applications were for home purchases, 92% for refinancing (including cash-out), and 0% for home improvement or other purposes. By loan type: 5% conventional, 4% FHA, 91% 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.