Direct Rate Home Loans 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%
55th8.7% deniedPricingmedian rate spread over APOR, weight 30%
68th0.13 ptsProcesswithdrawn + incomplete share, weight 15%
7th28.3%Closing coststotal loan costs ÷ loan amount, weight 10%
60th1.66% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 5 | 0 | 0.0% | — | — | $0 |
| 2024 | 27 | 14 | 0.0% | 0.0% | 6.63% | $5.9M |
| 2025 | 579 | 366 | 6.2% | 8.7% | 6.38% | $187M |
What Direct Rate Home Loans 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, 1 manufactured homes, 33 investment properties.
Why Direct Rate Home Loans denies applications
Primary reason reported for each of the 36 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Direct Rate Home Loans
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| $50k – $100k | 164 | 101 | 8.0% |
| $100k – $150k | 155 | 100 | 9.7% |
| $150k – $250k | 124 | 85 | 4.4% |
| Over $250k | 95 | 56 | 14.1% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 29 | 18 | 5.3% |
| 25–34 | 202 | 131 | 5.6% |
| 35–44 | 180 | 110 | 7.9% |
| 45–54 | 95 | 62 | 7.3% |
| 55–64 | 38 | 23 | 28.1% |
| 65–74 | 29 | 19 | 5.0% |
Where Direct Rate Home Loans lends
14 states and 51 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Utah | 524 | 334 | 5.9% | 6.38% | #57 |
| Washington | 18 | 10 | 11.1% | 6.63% | #398 |
| Idaho | 8 | 5 | 12.5% | 6.25% | #282 |
| Oregon | 7 | 4 | 0.0% | 5.81% | #407 |
| Arizona | 5 | 4 | 0.0% | 6.81% | #610 |
Frequently asked questions
Direct Rate Home Loans denied 8.7% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 55th percentile of small mortgage lenders.
The most common reason Direct Rate Home Loans gave in 2025 was "debt-to-income ratio", cited on 41.7% 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 Direct Rate Home Loans originated in 2025 was 6.38%, and its median rate spread over the average prime offer rate was 0.13 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 73% of its applications were for home purchases, 27% for refinancing (including cash-out), and 0% for home improvement or other purposes. By loan type: 70% conventional, 13% FHA, 16% 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.