Equity Wave Lending at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the D grade breaks down
Each component is a percentile rank among 220 investment-property lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
11th19.9% deniedProcesswithdrawn + incomplete share, weight 15%
17th16.8%Trend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 556 | 278 | 21.8% | 28.4% | 12.25% | $79M |
| 2024 | 546 | 282 | 22.5% | 28.9% | 12.37% | $88M |
| 2025 | 375 | 234 | 16.5% | 19.9% | 11.99% | $82M |
What Equity Wave Lending 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: 2 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 201 investment properties.
Why Equity Wave Lending denies applications
Primary reason reported for each of the 62 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Equity Wave Lending
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 218 | 134 | 24.2% |
| $50k – $100k | 33 | 18 | 20.8% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 21 | 11 | 25.0% |
| 35–44 | 60 | 42 | 17.0% |
| 45–54 | 84 | 62 | 13.2% |
| 55–64 | 102 | 61 | 18.8% |
| 65–74 | 66 | 34 | 29.6% |
| Over 74 | 39 | 23 | 25.0% |
Where Equity Wave Lending lends
10 states and 59 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| California | 331 | 214 | 16.6% | 11.99% | #305 |
| Florida | 24 | 10 | 25.0% | 12.25% | #736 |
| Texas | 5 | 2 | 0.0% | 11.49% | #1,067 |
Frequently asked questions
Equity Wave Lending denied 19.9% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 11th percentile of investment-property lenders.
The most common reason Equity Wave Lending gave in 2025 was "collateral", cited on 41.9% 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 Equity Wave Lending originated in 2025 was 11.99%, and its median rate spread over the average prime offer rate was 0.00 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: 100% 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.