Heritage 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 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%
41st11.9% deniedProcesswithdrawn + incomplete share, weight 15%
7th28.2%Trend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 538 | 410 | 6.5% | 7.8% | 6.25% | $165M |
| 2024 | 320 | 241 | 8.1% | 9.7% | — | $71M |
| 2025 | 376 | 232 | 8.5% | 11.9% | — | $91M |
What Heritage 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, 2 manufactured homes, 9 investment properties.
Why Heritage Bank denies applications
Primary reason reported for each of the 32 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Heritage Bank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| $50k – $100k | 97 | 60 | 11.4% |
| $100k – $150k | 64 | 42 | 14.3% |
| $150k – $250k | 82 | 53 | 5.3% |
| Over $250k | 114 | 64 | 11.8% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 23 | 15 | 6.3% |
| 25–34 | 136 | 84 | 13.1% |
| 35–44 | 92 | 57 | 3.3% |
| 45–54 | 80 | 48 | 16.7% |
| 55–64 | 31 | 19 | 17.4% |
Where Heritage Bank lends
46 states and 181 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Minnesota | 128 | 97 | 7.8% | — | #178 |
| Iowa | 39 | 27 | 5.1% | — | #245 |
| Texas | 25 | 12 | 12.0% | — | #826 |
| Florida | 16 | 9 | 0.0% | — | #807 |
| South Dakota | 16 | 10 | 6.3% | — | #114 |
| Arizona | 12 | 6 | 16.7% | — | #484 |
| New York | 11 | 6 | 9.1% | — | #459 |
| Georgia | 10 | 5 | 0.0% | — | #675 |
| Pennsylvania | 8 | 4 | 0.0% | — | #729 |
| California | 7 | 3 | 14.3% | — | #772 |
| Colorado | 7 | 1 | 0.0% | — | #570 |
| Nevada | 7 | 3 | 28.6% | — | #337 |
| Indiana | 5 | 2 | 0.0% | — | #646 |
| North Carolina | 5 | 3 | 20.0% | — | #740 |
| New Jersey | 5 | 3 | 0.0% | — | #611 |
| Ohio | 5 | 1 | 20.0% | — | #699 |
| Oklahoma | 5 | 3 | 0.0% | — | #494 |
| Washington | 5 | 4 | 20.0% | — | #527 |
Frequently asked questions
Heritage Bank denied 11.9% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 41st percentile of small mortgage lenders.
The most common reason Heritage Bank gave in 2025 was "debt-to-income ratio", cited on 40.6% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
In 2025, 78% of its applications were for home purchases, 17% for refinancing (including cash-out), and 5% for home improvement or other purposes. By loan type: 82% conventional, 15% FHA, 2% 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.