First New York 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%
28th16.0% deniedPricingmedian rate spread over APOR, weight 30%
94th-0.33 ptsProcesswithdrawn + incomplete share, weight 15%
35th15.0%Closing coststotal loan costs ÷ loan amount, weight 10%
6th4.66% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 573 | 431 | 9.4% | 11.1% | 6.63% | $57M |
| 2024 | 677 | 473 | 11.4% | 14.0% | 5.88% | $75M |
| 2025 | 682 | 486 | 13.6% | 16.0% | 5.49% | $85M |
What First New York 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: 236 home-equity lines, 0 reverse mortgages, 1 manufactured homes, 15 investment properties.
Why First New York denies applications
Primary reason reported for each of the 93 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at First New York
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 66 | 31 | 45.6% |
| $50k – $100k | 224 | 137 | 21.7% |
| $100k – $150k | 174 | 141 | 7.8% |
| $150k – $250k | 164 | 140 | 6.0% |
| Over $250k | 39 | 25 | 21.9% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 85 | 54 | 27.0% |
| 35–44 | 153 | 101 | 22.3% |
| 45–54 | 156 | 118 | 12.6% |
| 55–64 | 157 | 116 | 14.0% |
| 65–74 | 88 | 68 | 5.6% |
| Over 74 | 35 | 22 | 15.4% |
Where First New York lends
1 states and 16 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| New York | 682 | 486 | 13.6% | 5.49% | #113 |
Frequently asked questions
First New York denied 16.0% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 28th percentile of small mortgage lenders.
The most common reason First New York gave in 2025 was "debt-to-income ratio", cited on 35.5% 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 New York originated in 2025 was 5.49%, and its median rate spread over the average prime offer rate was -0.33 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 15% of its applications were for home purchases, 52% for refinancing (including cash-out), and 33% 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.