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First South Financial Federally Insured State-Chartered Credit Union · Tennessee · 2025

First South Financial Federally Insured State-Chartered Credit Union in Tennessee: approval rate, denial rate and rates (2025)

First South Financial Federally Insured State-Chartered Credit Union took 579 mortgage applications in Tennessee in 2025, ranking #99 of 1,274 lenders active in the state. It originated 52.7% of them and denied 23.8% (31.1% of the applications it decided), against a statewide denial rate of 17.1%.

579Applicationsin TN
31.1%Decision denial ratestate 21.7%
1.99%Median ratestate 6.62%
$105,000Median loanstate $225,000
$55MVolume41 counties
Full First South Financial Federally Insured State-Chartered Credit Union review All lenders in Tennessee

First South Financial Federally Insured State-Chartered Credit Union in Tennessee vs the state

23.8%Denial rate+6.69 pts vs state
31.1%Decision denial rate+9.40 pts vs state
52.7%Origination rate-5.40 pts vs state
1.99%Median rate-4.63 pts vs state
-5.20Rate spread (pts)-5.43 pts vs state
$112kMedian applicant income
305Loans originated
138Denied

Trend in Tennessee

YearApplicationsOriginatedDenial rateMedian rateRank in state
20231578722.9%—#226
2024117846.8%—#274
202557930523.8%1.99%#99

What First South Financial Federally Insured State-Chartered Credit Union lends in Tennessee

By loan purpose

Home purchase 83 14% · 4.8% denied
Refinance 39 7% · 15.4% denied
Cash-out refinance 10 2% · 0.0% denied
Home improvement 242 42% · 27.3% denied
Other / HELOC 205 35% · 30.2% denied

By loan type

Conventional 561 97% · 24.4% denied
FHA 15 3% · 6.7% denied
VA 1 0% · 0.0% denied
USDA / RHS 2 0% · 0.0% denied

Why it denied Tennessee applicants

Credit history 61 44%
Debt-to-income ratio 52 38%
Collateral 10 7%
Other 8 6%
Incomplete application 5 4%
Unverifiable information 2 1%

Where in Tennessee

Counties with the most First South Financial Federally Insured State-Chartered Credit Union applications in 2025.

CountyApplicationsOriginatedDeniedDenial rate
Shelby County 31317176 24.3%
Tipton County 532715 28.3%
Davidson County 29174 13.8%
Madison County 29183 10.3%
Williamson County 26107 26.9%
Dyer County 22136 27.3%
Fayette County 1774 23.5%
Gibson County 952 22.2%
Wilson County 833 37.5%
Knox County 851 12.5%

Other large lenders in Tennessee

LenderGradeApplicationsDenial rateMedian rate
Rocket MortgageC 16,50317.3%6.50%
United Shore Financial ServicesB 12,45810.9%6.12%
Regions BankC 11,24736.5%4.99%
Vanderbilt Mortgage and FinanceF 9,64935.8%8.75%
Mortgage Research CenterC 6,56817.3%6.25%
FirstBankC 5,67714.5%6.88%
CMG MortgageA 5,6432.9%6.50%
Freedom MortgageB 5,4938.0%6.25%
Pennymac Loan ServicesC 5,33111.2%6.00%
Mortgage Investors GroupB 4,4543.5%6.50%

Frequently asked questions

Tennessee: 579 applications in 2025, of which 305 were originated and 138 denied.

23.8% of all applications, or 31.1% of the applications it actually decided on. The Tennessee statewide average across all lenders was 17.1%.

The median rate on loans First South Financial Federally Insured State-Chartered Credit Union originated in Tennessee in 2025 was 1.99%, against a statewide median of 6.62%.

About this data. Figures are First South Financial Federally Insured State-Chartered Credit Union's own HMDA filing for properties located in Tennessee, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology