Mechanics 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%
79th3.7% deniedPricingmedian rate spread over APOR, weight 30%
36th0.40 ptsProcesswithdrawn + incomplete share, weight 15%
76th5.9%Closing coststotal loan costs ÷ loan amount, weight 10%
63rd1.58% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 593 | 494 | 5.4% | 5.7% | 6.24% | $85M |
| 2024 | 608 | 499 | 3.0% | 3.2% | 6.99% | $90M |
| 2025 | 630 | 517 | 3.5% | 3.7% | 6.19% | $104M |
What Mechanics 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, 9 manufactured homes, 81 investment properties.
Why Mechanics Bank denies applications
Primary reason reported for each of the 22 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Mechanics Bank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 91 | 66 | 7.4% |
| $50k – $100k | 256 | 214 | 2.5% |
| $100k – $150k | 117 | 103 | 0.9% |
| $150k – $250k | 79 | 71 | 0.0% |
| Over $250k | 25 | 19 | 4.6% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 56 | 48 | 1.9% |
| 25–34 | 140 | 118 | 1.5% |
| 35–44 | 119 | 96 | 1.8% |
| 45–54 | 101 | 82 | 5.1% |
| 55–64 | 84 | 69 | 5.0% |
| 65–74 | 59 | 47 | 7.4% |
| Over 74 | 26 | 18 | 9.1% |
Where Mechanics Bank lends
2 states and 13 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Ohio | 628 | 517 | 3.5% | 6.19% | #118 |
Frequently asked questions
Mechanics Bank denied 3.7% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 79th percentile of small mortgage lenders.
The most common reason Mechanics Bank gave in 2025 was "credit history", cited on 36.4% 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 Mechanics Bank originated in 2025 was 6.19%, and its median rate spread over the average prime offer rate was 0.40 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 72% of its applications were for home purchases, 13% for refinancing (including cash-out), and 16% 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.