NextMortgage 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 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%
72nd5.1% deniedPricingmedian rate spread over APOR, weight 30%
35th0.41 ptsProcesswithdrawn + incomplete share, weight 15%
8th26.9%Closing coststotal loan costs ÷ loan amount, weight 10%
14th3.27% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 826 | 546 | 4.4% | 5.6% | 6.99% | $157M |
| 2024 | 864 | 531 | 4.3% | 5.8% | 6.99% | $157M |
| 2025 | 969 | 592 | 3.7% | 5.1% | 6.75% | $161M |
What NextMortgage 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: 42 home-equity lines, 0 reverse mortgages, 22 manufactured homes, 75 investment properties.
Why NextMortgage denies applications
Primary reason reported for each of the 36 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at NextMortgage
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 67 | 36 | 10.4% |
| $50k – $100k | 399 | 250 | 4.5% |
| $100k – $150k | 242 | 153 | 4.9% |
| $150k – $250k | 152 | 92 | 4.4% |
| Over $250k | 81 | 45 | 5.6% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 51 | 32 | 2.4% |
| 25–34 | 253 | 171 | 3.6% |
| 35–44 | 245 | 154 | 4.5% |
| 45–54 | 174 | 101 | 8.9% |
| 55–64 | 144 | 79 | 7.2% |
| 65–74 | 76 | 37 | 2.3% |
| Over 74 | 26 | 18 | 0.0% |
Where NextMortgage lends
18 states and 134 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Florida | 290 | 197 | 3.5% | 6.88% | #310 |
| Texas | 280 | 152 | 6.1% | 6.75% | #351 |
| North Dakota | 91 | 53 | 1.1% | 6.99% | #52 |
| Colorado | 69 | 41 | 4.4% | 6.63% | #268 |
| Maine | 62 | 44 | 4.8% | 6.38% | #117 |
| Virginia | 56 | 38 | 1.8% | 6.63% | #363 |
| Oklahoma | 44 | 24 | 0.0% | 5.88% | #268 |
| South Carolina | 20 | 12 | 0.0% | 6.75% | #444 |
| North Carolina | 16 | 7 | 0.0% | 7.13% | #551 |
| West Virginia | 15 | 11 | 0.0% | 6.00% | #214 |
| Tennessee | 11 | 6 | 0.0% | 6.99% | #622 |
Frequently asked questions
NextMortgage denied 5.1% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 72nd percentile of small mortgage lenders.
The most common reason NextMortgage gave in 2025 was "debt-to-income ratio", cited on 41.7% 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 NextMortgage originated in 2025 was 6.75%, and its median rate spread over the average prime offer rate was 0.41 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 80% of its applications were for home purchases, 20% for refinancing (including cash-out), and 0% for home improvement or other purposes. By loan type: 55% conventional, 27% FHA, 8% 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.