Needham 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 412 home-equity (HELOC) lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
64th19.8% deniedPricingmedian rate spread over APOR, weight 30%
71st-0.24 ptsProcesswithdrawn + incomplete share, weight 15%
25th17.3%Closing coststotal loan costs ÷ loan amount, weight 10%
89th1.06% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 665 | 439 | 13.8% | 16.9% | 7.13% | $516M |
| 2024 | 727 | 468 | 14.2% | 17.7% | 7.50% | $319M |
| 2025 | 860 | 562 | 16.4% | 19.8% | 7.00% | $465M |
What Needham 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: 519 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 92 investment properties.
Why Needham Bank denies applications
Primary reason reported for each of the 141 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Needham Bank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| $50k – $100k | 83 | 30 | 52.3% |
| $100k – $150k | 128 | 67 | 36.8% |
| $150k – $250k | 192 | 138 | 15.3% |
| Over $250k | 363 | 257 | 10.9% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 88 | 51 | 17.5% |
| 35–44 | 206 | 126 | 22.9% |
| 45–54 | 208 | 139 | 19.7% |
| 55–64 | 162 | 111 | 21.1% |
| 65–74 | 83 | 51 | 20.3% |
| Over 74 | 40 | 18 | 41.9% |
Where Needham Bank lends
9 states and 31 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Massachusetts | 837 | 552 | 16.0% | 7.00% | #57 |
| New Hampshire | 8 | 3 | 37.5% | 7.00% | #285 |
| Florida | 5 | 1 | 40.0% | 7.50% | #1,101 |
Frequently asked questions
Needham Bank denied 19.8% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 64th percentile of home-equity (HELOC) lenders.
The most common reason Needham Bank gave in 2025 was "debt-to-income ratio", cited on 68.8% 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 Needham Bank originated in 2025 was 7.00%, and its median rate spread over the average prime offer rate was -0.24 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 28% of its applications were for home purchases, 28% for refinancing (including cash-out), and 44% 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.