Elevations at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the C 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%
39th13.6% deniedPricingmedian rate spread over APOR, weight 30%
30th0.37 ptsProcesswithdrawn + incomplete share, weight 15%
37th19.5%Closing coststotal loan costs ÷ loan amount, weight 10%
87th1.21% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 4,447 | 2,966 | 19.8% | 22.8% | 7.99% | $985M |
| 2024 | 4,495 | 2,938 | 15.1% | 18.4% | 7.13% | $1.1B |
| 2025 | 4,432 | 2,961 | 10.9% | 13.6% | 6.88% | $1.1B |
What Elevations 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: 1,705 home-equity lines, 0 reverse mortgages, 28 manufactured homes, 305 investment properties.
Why Elevations denies applications
Primary reason reported for each of the 485 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Elevations
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 144 | 40 | 62.6% |
| $50k – $100k | 806 | 497 | 22.1% |
| $100k – $150k | 1,031 | 704 | 12.9% |
| $150k – $250k | 1,341 | 936 | 8.6% |
| Over $250k | 1,009 | 713 | 5.5% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 62 | 38 | 22.5% |
| 25–34 | 838 | 593 | 8.7% |
| 35–44 | 1,267 | 865 | 12.4% |
| 45–54 | 939 | 607 | 15.1% |
| 55–64 | 662 | 427 | 17.3% |
| 65–74 | 426 | 277 | 14.8% |
| Over 74 | 182 | 113 | 14.7% |
Where Elevations lends
2 states and 42 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Colorado | 4,426 | 2,961 | 10.8% | 6.88% | #10 |
Frequently asked questions
Elevations denied 13.6% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 39th percentile of mid-size mortgage lenders.
The most common reason Elevations gave in 2025 was "debt-to-income ratio", cited on 56.9% 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 Elevations originated in 2025 was 6.88%, and its median rate spread over the average prime offer rate was 0.37 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 45% of its applications were for home purchases, 52% for refinancing (including cash-out), and 2% for home improvement or other purposes. By loan type: 97% conventional, 2% FHA, 1% 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.