Net 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 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%
39th28.4% deniedPricingmedian rate spread over APOR, weight 30%
48th0.19 ptsProcesswithdrawn + incomplete share, weight 15%
9th22.4%Closing coststotal loan costs ÷ loan amount, weight 10%
1st8.81% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 363 | 268 | 20.7% | 21.8% | 7.49% | $24M |
| 2024 | 464 | 300 | 13.8% | 17.5% | 8.29% | $27M |
| 2025 | 450 | 248 | 22.0% | 28.4% | 7.99% | $27M |
What Net 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: 394 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 12 investment properties.
Why Net denies applications
Primary reason reported for each of the 99 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Net
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 100 | 43 | 41.1% |
| $50k – $100k | 191 | 94 | 30.9% |
| $100k – $150k | 98 | 66 | 19.5% |
| $150k – $250k | 43 | 33 | 13.2% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 43 | 25 | 24.2% |
| 35–44 | 102 | 48 | 40.2% |
| 45–54 | 125 | 71 | 28.7% |
| 55–64 | 100 | 58 | 22.7% |
| 65–74 | 56 | 34 | 19.1% |
Where Net lends
6 states and 17 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Pennsylvania | 443 | 246 | 21.9% | 7.99% | #170 |
Frequently asked questions
Net denied 28.4% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 39th percentile of home-equity (HELOC) lenders.
The most common reason Net gave in 2025 was "credit history", cited on 40.4% 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 Net originated in 2025 was 7.99%, and its median rate spread over the average prime offer rate was 0.19 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 11% of its applications were for home purchases, 11% for refinancing (including cash-out), and 78% 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.