Florence Bank at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the B 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%
35th13.2% deniedPricingmedian rate spread over APOR, weight 30%
98th-0.71 ptsProcesswithdrawn + incomplete share, weight 15%
31st15.9%Closing coststotal loan costs ÷ loan amount, weight 10%
52nd1.86% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 858 | 588 | 12.7% | 15.1% | 3.99% | $115M |
| 2024 | 710 | 475 | 14.2% | 17.1% | 5.99% | $110M |
| 2025 | 710 | 502 | 11.1% | 13.2% | 5.99% | $129M |
What Florence Bank 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: 280 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 37 investment properties.
Why Florence Bank denies applications
Primary reason reported for each of the 79 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Florence Bank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 49 | 20 | 51.2% |
| $50k – $100k | 231 | 162 | 12.0% |
| $100k – $150k | 161 | 115 | 12.8% |
| $150k – $250k | 162 | 131 | 6.2% |
| Over $250k | 71 | 50 | 3.8% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 90 | 67 | 9.5% |
| 35–44 | 138 | 96 | 7.6% |
| 45–54 | 155 | 111 | 13.1% |
| 55–64 | 133 | 92 | 18.3% |
| 65–74 | 107 | 78 | 13.0% |
| Over 74 | 50 | 33 | 14.0% |
Where Florence Bank lends
2 states and 11 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Massachusetts | 709 | 502 | 11.0% | 5.99% | #67 |
Frequently asked questions
Florence Bank denied 13.2% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 35th percentile of small mortgage lenders.
The most common reason Florence Bank gave in 2025 was "other", cited on 45.6% 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 Florence Bank originated in 2025 was 5.99%, and its median rate spread over the average prime offer rate was -0.71 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 37% of its applications were for home purchases, 26% for refinancing (including cash-out), and 37% 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.