First Choice 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 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%
0th60.6% deniedPricingmedian rate spread over APOR, weight 30%
75th0.07 ptsProcesswithdrawn + incomplete share, weight 15%
95th0.0%Closing coststotal loan costs ÷ loan amount, weight 10%
99th0.23% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 108 | 51 | 52.8% | 52.8% | 6.38% | $4.6M |
| 2024 | 102 | 58 | 43.1% | 43.1% | 6.75% | $5.5M |
| 2025 | 104 | 41 | 60.6% | 60.6% | 6.38% | $3.7M |
What First Choice 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: 37 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 8 investment properties.
Why First Choice denies applications
Primary reason reported for each of the 63 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at First Choice
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| $50k – $100k | 36 | 15 | 58.3% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 35–44 | 23 | 3 | 87.0% |
| 45–54 | 24 | 9 | 62.5% |
| 55–64 | 28 | 16 | 42.9% |
Where First Choice lends
2 states and 2 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Florida | 103 | 41 | 60.2% | 6.38% | #480 |
Frequently asked questions
First Choice denied 60.6% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 0th percentile of small mortgage lenders.
The most common reason First Choice gave in 2025 was "debt-to-income ratio", cited on 34.9% 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 First Choice originated in 2025 was 6.38%, and its median rate spread over the average prime offer rate was 0.07 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 1% of its applications were for home purchases, 13% for refinancing (including cash-out), and 86% 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.