Loan Simple at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the D grade breaks down
Each component is a percentile rank among 581 mid-size mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
55th8.7% deniedPricingmedian rate spread over APOR, weight 30%
7th0.82 ptsProcesswithdrawn + incomplete share, weight 15%
11th29.3%Closing coststotal loan costs ÷ loan amount, weight 10%
9th3.92% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 2,039 | 1,165 | 6.8% | 10.7% | 6.88% | $358M |
| 2024 | 1,940 | 1,158 | 3.3% | 5.2% | 6.88% | $381M |
| 2025 | 2,907 | 1,876 | 6.2% | 8.7% | 6.63% | $559M |
What Loan Simple 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: 3 home-equity lines, 0 reverse mortgages, 153 manufactured homes, 5 investment properties.
Why Loan Simple denies applications
Primary reason reported for each of the 179 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Loan Simple
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 91 | 46 | 27.0% |
| $50k – $100k | 1,404 | 866 | 9.8% |
| $100k – $150k | 966 | 677 | 6.0% |
| $150k – $250k | 219 | 140 | 7.9% |
| Over $250k | 28 | 11 | 26.7% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 336 | 235 | 6.8% |
| 25–34 | 1,050 | 710 | 6.8% |
| 35–44 | 734 | 454 | 11.3% |
| 45–54 | 494 | 298 | 10.0% |
| 55–64 | 217 | 131 | 10.3% |
| 65–74 | 62 | 40 | 4.8% |
Where Loan Simple lends
22 states and 602 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Colorado | 1,371 | 911 | 4.7% | 6.63% | #46 |
| Texas | 257 | 159 | 6.2% | 6.75% | #369 |
| North Carolina | 209 | 128 | 9.1% | 6.88% | #229 |
| Florida | 171 | 100 | 10.5% | 6.99% | #398 |
| Georgia | 146 | 77 | 8.9% | 6.99% | #289 |
| Virginia | 106 | 69 | 11.3% | 6.99% | #286 |
| South Carolina | 86 | 52 | 7.0% | 6.88% | #272 |
| Oregon | 74 | 52 | 2.7% | 6.63% | #188 |
| Alabama | 70 | 45 | 5.7% | 6.93% | #266 |
| Arizona | 57 | 41 | 5.3% | 6.75% | #297 |
| New Mexico | 54 | 36 | 3.7% | 7.13% | #145 |
| Minnesota | 51 | 33 | 13.7% | 6.81% | #288 |
| Indiana | 50 | 38 | 4.0% | 6.75% | #351 |
| Tennessee | 47 | 29 | 4.3% | 6.75% | #418 |
| Wisconsin | 37 | 23 | 8.1% | 7.13% | #368 |
| California | 31 | 19 | 3.2% | 6.63% | #582 |
| Washington | 31 | 25 | 6.5% | 6.63% | #342 |
| Pennsylvania | 29 | 19 | 10.3% | 6.63% | #558 |
| Idaho | 15 | 9 | 0.0% | 6.63% | #243 |
| Kansas | 7 | 5 | 0.0% | 7.00% | #384 |
| Iowa | 6 | 4 | 0.0% | 6.93% | #404 |
Frequently asked questions
Loan Simple denied 8.7% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 55th percentile of mid-size mortgage lenders.
The most common reason Loan Simple gave in 2025 was "debt-to-income ratio", cited on 30.7% 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 Loan Simple originated in 2025 was 6.63%, and its median rate spread over the average prime offer rate was 0.82 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 88% of its applications were for home purchases, 11% for refinancing (including cash-out), and 0% for home improvement or other purposes. By loan type: 27% conventional, 68% 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.