PeoplesBank 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%
35th13.3% deniedPricingmedian rate spread over APOR, weight 30%
91st-0.19 ptsProcesswithdrawn + incomplete share, weight 15%
28th17.1%Closing coststotal loan costs ÷ loan amount, weight 10%
21st2.91% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 1,113 | 728 | 14.6% | 17.8% | 6.38% | $184M |
| 2024 | 1,102 | 745 | 11.4% | 14.1% | 6.75% | $261M |
| 2025 | 1,150 | 811 | 11.0% | 13.3% | 6.25% | $252M |
What PeoplesBank 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: 476 home-equity lines, 0 reverse mortgages, 1 manufactured homes, 73 investment properties.
Why PeoplesBank denies applications
Primary reason reported for each of the 127 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at PeoplesBank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 133 | 57 | 46.0% |
| $50k – $100k | 329 | 220 | 14.5% |
| $100k – $150k | 252 | 193 | 9.3% |
| $150k – $250k | 235 | 182 | 6.1% |
| Over $250k | 157 | 122 | 1.6% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 200 | 152 | 8.8% |
| 35–44 | 256 | 191 | 9.9% |
| 45–54 | 209 | 148 | 14.8% |
| 55–64 | 228 | 137 | 22.5% |
| 65–74 | 156 | 115 | 9.9% |
| Over 74 | 71 | 40 | 21.8% |
Where PeoplesBank lends
7 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 | 823 | 571 | 12.3% | 6.25% | #59 |
| Connecticut | 309 | 229 | 7.4% | 6.25% | #75 |
| Rhode Island | 8 | 6 | 12.5% | 6.13% | #203 |
Frequently asked questions
PeoplesBank denied 13.3% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 35th percentile of small mortgage lenders.
The most common reason PeoplesBank gave in 2025 was "debt-to-income ratio", cited on 66.1% 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 PeoplesBank originated in 2025 was 6.25%, 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, 39% of its applications were for home purchases, 24% for refinancing (including cash-out), and 37% 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.