Hanover Community Bank 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 220 investment-property lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
18th13.0% deniedPricingmedian rate spread over APOR, weight 30%
38th1.25 ptsProcesswithdrawn + incomplete share, weight 15%
21st13.9%Closing coststotal loan costs ÷ loan amount, weight 10%
76th1.91% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 530 | 355 | 13.6% | 16.5% | 7.00% | $202M |
| 2024 | 371 | 229 | 14.6% | 18.5% | 7.25% | $128M |
| 2025 | 510 | 374 | 11.2% | 13.0% | 6.38% | $259M |
What Hanover Community 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: 0 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 334 investment properties.
Why Hanover Community Bank denies applications
Primary reason reported for each of the 57 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Hanover Community Bank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| $50k – $100k | 116 | 96 | 11.6% |
| $100k – $150k | 95 | 75 | 8.2% |
| $150k – $250k | 77 | 59 | 10.6% |
| Over $250k | 21 | 10 | 47.4% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 65 | 50 | 8.8% |
| 35–44 | 117 | 91 | 9.7% |
| 45–54 | 96 | 71 | 13.3% |
| 55–64 | 43 | 27 | 17.7% |
Where Hanover Community Bank lends
2 states and 19 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 | 487 | 358 | 11.3% | 6.38% | #136 |
| New Jersey | 23 | 16 | 8.7% | 6.50% | #432 |
Frequently asked questions
Hanover Community Bank denied 13.0% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 18th percentile of investment-property lenders.
The most common reason Hanover Community Bank gave in 2025 was "other", cited on 36.8% 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 Hanover Community Bank originated in 2025 was 6.38%, and its median rate spread over the average prime offer rate was 1.25 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 80% of its applications were for home purchases, 18% for refinancing (including cash-out), and 2% 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.