Lower in Virginia vs the state
10.4%Denial rate-5.55 pts vs state
14.3%Decision denial rate-5.93 pts vs state
61.1%Origination rate+1.60 pts vs state
6.62%Median rate0.00 pts vs state
0.31Rate spread (pts)+0.09 pts vs state
$112kMedian applicant income
635Loans originated
108Denied
Trend in Virginia
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 604 | 420 | 12.9% | 6.69% | #88 |
| 2024 | 1,097 | 731 | 8.3% | 6.63% | #67 |
| 2025 | 1,039 | 635 | 10.4% | 6.62% | #71 |
What Lower lends in Virginia
By loan purpose
By loan type
Why it denied Virginia applicants
Where in Virginia
Counties with the most Lower applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Prince William County | 109 | 69 | 11 | 10.1% |
| Fairfax County | 99 | 61 | 4 | 4.0% |
| Loudoun County | 64 | 35 | 7 | 10.9% |
| Henrico County | 41 | 19 | 3 | 7.3% |
| Spotsylvania County | 38 | 23 | 5 | 13.2% |
| Chesterfield County | 35 | 16 | 6 | 17.1% |
| Virginia Beach city | 32 | 21 | 5 | 15.6% |
| Augusta County | 32 | 29 | 2 | 6.3% |
| Campbell County | 30 | 25 | 0 | 0.0% |
| Bedford County | 30 | 25 | 1 | 3.3% |
Other large lenders in Virginia
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Navy Federal Credit Union | D | 19,395 | 19.3% | 7.75% |
| Rocket Mortgage | C | 19,274 | 14.8% | 6.63% |
| United Shore Financial Services | B | 13,994 | 10.4% | 6.12% |
| Truist Bank | C | 11,838 | 31.6% | 6.49% |
| Mortgage Research Center | C | 9,000 | 16.7% | 6.25% |
| Pennymac Loan Services | C | 8,334 | 10.7% | 6.38% |
| Freedom Mortgage | B | 8,029 | 6.5% | 6.25% |
| Bank of America | F | 6,584 | 31.9% | 6.24% |
| Newrez | D | 6,390 | 16.4% | 6.38% |
| Movement Mortgage | A | 6,126 | 4.3% | 6.56% |
Frequently asked questions
Virginia: 1,039 applications in 2025, of which 635 were originated and 108 denied.
10.4% of all applications, or 14.3% of the applications it actually decided on. The Virginia statewide average across all lenders was 15.9%.
The median rate on loans Lower originated in Virginia in 2025 was 6.62%, against a statewide median of 6.63%.
About this data. Figures are Lower's own HMDA filing for properties located in Virginia, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology