First Equity Mortgage 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%
33rd15.6% deniedPricingmedian rate spread over APOR, weight 30%
78th0.04 ptsProcesswithdrawn + incomplete share, weight 15%
5th34.7%Closing coststotal loan costs ÷ loan amount, weight 10%
90th1.08% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 2,286 | 1,170 | 11.8% | 18.8% | 6.13% | $573M |
| 2024 | 2,398 | 1,357 | 9.4% | 14.2% | 6.49% | $660M |
| 2025 | 2,320 | 1,278 | 10.2% | 15.6% | 6.38% | $640M |
What First Equity Mortgage 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, 0 manufactured homes, 45 investment properties.
Why First Equity Mortgage denies applications
Primary reason reported for each of the 237 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at First Equity Mortgage
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 36 | 7 | 69.6% |
| $50k – $100k | 256 | 111 | 38.7% |
| $100k – $150k | 519 | 282 | 16.6% |
| $150k – $250k | 831 | 494 | 9.9% |
| Over $250k | 672 | 384 | 9.2% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 32 | 15 | 25.0% |
| 25–34 | 472 | 264 | 15.9% |
| 35–44 | 702 | 358 | 17.5% |
| 45–54 | 486 | 270 | 15.1% |
| 55–64 | 387 | 237 | 13.5% |
| 65–74 | 185 | 110 | 12.7% |
| Over 74 | 56 | 24 | 17.2% |
Where First Equity Mortgage lends
9 states and 74 counties in 2025. Click a state for the lender's full record there.
Frequently asked questions
First Equity Mortgage denied 15.6% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 33rd percentile of mid-size mortgage lenders.
The most common reason First Equity Mortgage gave in 2025 was "debt-to-income ratio", cited on 57.0% 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 Equity Mortgage originated in 2025 was 6.38%, and its median rate spread over the average prime offer rate was 0.04 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 99% of its applications were for home purchases, 1% for refinancing (including cash-out), and 0% for home improvement or other purposes. By loan type: 85% conventional, 6% FHA, 9% 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.