NexBank 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 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%
40th13.1% deniedPricingmedian rate spread over APOR, weight 30%
66th0.17 ptsProcesswithdrawn + incomplete share, weight 15%
65th13.9%Closing coststotal loan costs ÷ loan amount, weight 10%
62nd2.04% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 5,463 | 4,046 | 8.5% | 10.1% | 6.88% | $1.8B |
| 2024 | 7,520 | 5,643 | 9.7% | 11.3% | 6.63% | $2.3B |
| 2025 | 7,805 | 5,717 | 11.3% | 13.1% | 6.50% | $3.0B |
What NexBank 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, 2 manufactured homes, 2,298 investment properties.
Why NexBank denies applications
Primary reason reported for each of the 879 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at NexBank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 168 | 113 | 23.3% |
| $50k – $100k | 1,387 | 1,041 | 13.0% |
| $100k – $150k | 1,064 | 790 | 12.4% |
| $150k – $250k | 1,538 | 1,119 | 13.2% |
| Over $250k | 2,453 | 1,819 | 11.1% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 157 | 115 | 18.3% |
| 25–34 | 1,687 | 1,296 | 10.3% |
| 35–44 | 2,385 | 1,711 | 14.2% |
| 45–54 | 1,805 | 1,329 | 12.8% |
| 55–64 | 1,088 | 774 | 15.3% |
| 65–74 | 529 | 383 | 12.5% |
| Over 74 | 154 | 109 | 10.9% |
Where NexBank lends
49 states and 823 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| California | 1,807 | 1,262 | 12.6% | 6.38% | #113 |
| Texas | 1,543 | 1,171 | 9.9% | 6.50% | #128 |
| Georgia | 635 | 488 | 8.5% | 6.50% | #130 |
| Florida | 400 | 275 | 15.5% | 6.63% | #269 |
| Arizona | 397 | 284 | 10.3% | 6.38% | #132 |
| Washington | 379 | 270 | 13.2% | 6.25% | #125 |
| Illinois | 312 | 229 | 10.9% | 6.88% | #183 |
| Pennsylvania | 225 | 169 | 8.4% | 6.63% | #256 |
| Colorado | 223 | 168 | 13.0% | 6.38% | #169 |
| Minnesota | 168 | 127 | 11.3% | 6.50% | #150 |
| Virginia | 148 | 113 | 9.5% | 6.50% | #245 |
| Tennessee | 145 | 103 | 11.0% | 6.50% | #267 |
| North Carolina | 121 | 91 | 11.6% | 6.50% | #294 |
| Missouri | 103 | 76 | 13.6% | 6.63% | #261 |
| Wisconsin | 97 | 75 | 6.2% | 6.63% | #259 |
| Michigan | 92 | 75 | 7.6% | 6.88% | #283 |
| Maryland | 90 | 58 | 18.9% | 6.50% | #246 |
| Utah | 74 | 49 | 10.8% | 6.50% | #147 |
| Alabama | 67 | 58 | 4.5% | 6.50% | #272 |
| Massachusetts | 66 | 47 | 12.1% | 6.63% | #290 |
| Ohio | 66 | 46 | 10.6% | 6.63% | #371 |
| Oregon | 66 | 53 | 9.1% | 6.63% | #201 |
| Nevada | 58 | 41 | 15.5% | 6.38% | #192 |
| Connecticut | 57 | 47 | 10.5% | 6.38% | #212 |
| South Carolina | 55 | 40 | 16.4% | 6.31% | #330 |
| Oklahoma | 52 | 41 | 13.5% | 6.75% | #256 |
| Indiana | 47 | 34 | 19.2% | 6.63% | #356 |
| Kansas | 46 | 41 | 2.2% | 6.63% | #232 |
| Idaho | 43 | 32 | 0.0% | 6.19% | #174 |
| New Mexico | 32 | 19 | 12.5% | 6.99% | #174 |
| New Hampshire | 31 | 22 | 12.9% | 6.63% | #160 |
| New Jersey | 29 | 22 | 10.3% | 6.50% | #411 |
| Hawaii | 20 | 11 | 20.0% | 6.99% | #128 |
| Arkansas | 16 | 15 | 0.0% | 6.63% | #299 |
| Maine | 13 | 8 | 15.4% | 6.69% | #194 |
| Louisiana | 12 | 9 | 16.7% | 6.63% | #358 |
| Iowa | 10 | 8 | 20.0% | 6.00% | #358 |
| Montana | 10 | 6 | 20.0% | 6.69% | #183 |
| Nebraska | 10 | 5 | 20.0% | 6.75% | #248 |
| Kentucky | 8 | 5 | 37.5% | 6.88% | #447 |
| Delaware | 7 | 6 | 0.0% | 6.50% | #274 |
| District of Columbia | 6 | 4 | 0.0% | 6.31% | #232 |
| South Dakota | 6 | 4 | 16.7% | 6.81% | #163 |
Frequently asked questions
NexBank denied 13.1% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 40th percentile of mid-size mortgage lenders.
The most common reason NexBank gave in 2025 was "collateral", cited on 32.4% 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 NexBank originated in 2025 was 6.50%, and its median rate spread over the average prime offer rate was 0.17 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 66% of its applications were for home purchases, 30% for refinancing (including cash-out), and 4% for home improvement or other purposes. By loan type: 97% conventional, 2% FHA, 1% 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.