Eastern Bank 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 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%
23rd33.1% deniedPricingmedian rate spread over APOR, weight 30%
66th-0.14 ptsProcesswithdrawn + incomplete share, weight 15%
91st4.3%Closing coststotal loan costs ÷ loan amount, weight 10%
75th2.18% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 4,555 | 2,933 | 27.8% | 28.8% | 7.75% | $1.1B |
| 2024 | 5,146 | 3,130 | 29.4% | 31.0% | 8.25% | $1.2B |
| 2025 | 6,794 | 3,969 | 31.7% | 33.1% | 6.99% | $1.6B |
What Eastern 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: 5,736 home-equity lines, 0 reverse mortgages, 1 manufactured homes, 233 investment properties.
Why Eastern Bank denies applications
Primary reason reported for each of the 2,153 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Eastern Bank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 324 | 84 | 67.3% |
| $50k – $100k | 1,443 | 678 | 47.0% |
| $100k – $150k | 1,507 | 839 | 35.9% |
| $150k – $250k | 1,643 | 1,033 | 26.7% |
| Over $250k | 1,587 | 1,124 | 19.6% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 32 | 21 | 25.0% |
| 25–34 | 522 | 292 | 36.7% |
| 35–44 | 1,328 | 790 | 34.9% |
| 45–54 | 1,610 | 880 | 37.3% |
| 55–64 | 1,627 | 932 | 33.0% |
| 65–74 | 1,089 | 673 | 28.2% |
| Over 74 | 436 | 249 | 31.1% |
Where Eastern Bank lends
5 states and 36 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Massachusetts | 6,216 | 3,620 | 31.8% | 6.99% | #5 |
| New Hampshire | 471 | 294 | 28.7% | 6.99% | #33 |
| Rhode Island | 86 | 47 | 36.1% | 6.64% | #75 |
| Connecticut | 20 | 7 | 40.0% | 6.99% | #300 |
Frequently asked questions
Eastern Bank denied 33.1% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 23rd percentile of home-equity (HELOC) lenders.
The most common reason Eastern Bank gave in 2025 was "debt-to-income ratio", cited on 34.3% 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 Eastern Bank originated in 2025 was 6.99%, and its median rate spread over the average prime offer rate was -0.14 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 16% of its applications were for home purchases, 32% for refinancing (including cash-out), and 52% for home improvement or other purposes. By loan type: 99% 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.