Nova Financial & Investment 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 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%
26th18.3% deniedPricingmedian rate spread over APOR, weight 30%
59th0.20 ptsProcesswithdrawn + incomplete share, weight 15%
56th15.4%Closing coststotal loan costs ÷ loan amount, weight 10%
72nd1.75% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 7,970 | 4,880 | 5.1% | 7.4% | 6.75% | $1.6B |
| 2024 | 6,917 | 4,748 | 5.3% | 6.9% | 6.75% | $1.5B |
| 2025 | 7,472 | 5,005 | 15.5% | 18.3% | 6.49% | $1.7B |
What Nova Financial & Investment 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: 179 home-equity lines, 40 reverse mortgages, 539 manufactured homes, 428 investment properties.
Why Nova Financial & Investment denies applications
Primary reason reported for each of the 1,156 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Nova Financial & Investment
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 7,075 | 4,790 | 17.7% |
| $50k – $100k | 82 | 58 | 9.1% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 425 | 296 | 20.4% |
| 25–34 | 1,920 | 1,315 | 16.2% |
| 35–44 | 1,725 | 1,184 | 17.6% |
| 45–54 | 1,399 | 897 | 21.0% |
| 55–64 | 1,025 | 689 | 18.8% |
| 65–74 | 697 | 438 | 18.4% |
| Over 74 | 281 | 186 | 18.1% |
Where Nova Financial & Investment lends
27 states and 244 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Arizona | 5,380 | 3,560 | 16.2% | 6.49% | #9 |
| Colorado | 616 | 464 | 8.1% | 6.50% | #91 |
| Washington | 368 | 286 | 6.3% | 6.49% | #127 |
| Nevada | 294 | 184 | 19.7% | 6.50% | #77 |
| California | 225 | 132 | 21.3% | 6.50% | #351 |
| New Mexico | 188 | 119 | 25.5% | 6.49% | #80 |
| Oregon | 158 | 97 | 17.7% | 6.63% | #139 |
| Texas | 82 | 57 | 19.5% | 6.49% | #601 |
| Florida | 73 | 42 | 11.0% | 6.31% | #541 |
| Pennsylvania | 15 | 12 | 6.7% | 6.50% | #636 |
| Idaho | 11 | 10 | 9.1% | 6.75% | #266 |
| Tennessee | 9 | 6 | 11.1% | 6.69% | #649 |
| Utah | 9 | 5 | 0.0% | 6.63% | #299 |
| Illinois | 8 | 6 | 0.0% | 6.37% | #709 |
| Kentucky | 8 | 3 | 12.5% | 9.88% | #450 |
| Kansas | 6 | 4 | 16.7% | 6.25% | #405 |
| North Carolina | 5 | 5 | 0.0% | 6.63% | #756 |
Frequently asked questions
Nova Financial & Investment denied 18.3% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 26th percentile of mid-size mortgage lenders.
The most common reason Nova Financial & Investment gave in 2025 was "incomplete application", cited on 67.8% 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 Nova Financial & Investment originated in 2025 was 6.49%, and its median rate spread over the average prime offer rate was 0.20 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 72% of its applications were for home purchases, 28% for refinancing (including cash-out), and 0% for home improvement or other purposes. By loan type: 59% conventional, 30% FHA, 10% 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.