Direct Lenders 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 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%
75th4.6% deniedPricingmedian rate spread over APOR, weight 30%
59th0.20 ptsProcesswithdrawn + incomplete share, weight 15%
8th27.1%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 | 290 | 182 | 5.2% | 7.6% | 6.75% | $55M |
| 2024 | 284 | 211 | 2.1% | 2.8% | 6.50% | $72M |
| 2025 | 332 | 231 | 3.3% | 4.6% | 6.50% | $79M |
What Direct Lenders 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: 11 home-equity lines, 0 reverse mortgages, 6 manufactured homes, 19 investment properties.
Why Direct Lenders denies applications
Primary reason reported for each of the 11 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Direct Lenders
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| $50k – $100k | 121 | 82 | 4.7% |
| $100k – $150k | 81 | 59 | 4.8% |
| $150k – $250k | 64 | 46 | 2.1% |
| Over $250k | 44 | 33 | 0.0% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 91 | 64 | 4.5% |
| 35–44 | 77 | 51 | 3.8% |
| 45–54 | 63 | 40 | 7.0% |
| 55–64 | 52 | 36 | 2.7% |
| 65–74 | 24 | 19 | 5.0% |
Where Direct Lenders lends
3 states and 40 counties in 2025. Click a state for the lender's full record there.
Frequently asked questions
Direct Lenders denied 4.6% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 75th percentile of small mortgage lenders.
The most common reason Direct Lenders gave in 2025 was "debt-to-income ratio", cited on 45.5% 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 Direct Lenders originated in 2025 was 6.50%, and its median rate spread over the average prime offer rate was 0.20 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 83% of its applications were for home purchases, 12% for refinancing (including cash-out), and 5% for home improvement or other purposes. By loan type: 66% conventional, 25% FHA, 8% 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.