Picatinny Federal Credit Union 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 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%
51st23.8% deniedPricingmedian rate spread over APOR, weight 30%
98th-3.12 ptsProcesswithdrawn + incomplete share, weight 15%
21st17.9%Closing coststotal loan costs ÷ loan amount, weight 10%
39th3.56% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 483 | 287 | 16.6% | 21.3% | 6.00% | $35M |
| 2024 | 580 | 339 | 22.6% | 26.7% | 1.99% | $41M |
| 2025 | 486 | 294 | 19.6% | 23.8% | 3.99% | $41M |
What Picatinny Federal Credit Union 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: 282 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 1 investment properties.
Why Picatinny Federal Credit Union denies applications
Primary reason reported for each of the 95 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Picatinny Federal Credit Union
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 21 | 4 | 80.0% |
| $50k – $100k | 106 | 50 | 38.8% |
| $100k – $150k | 129 | 82 | 20.4% |
| $150k – $250k | 173 | 120 | 12.8% |
| Over $250k | 48 | 32 | 13.2% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 41 | 26 | 25.7% |
| 35–44 | 128 | 83 | 22.9% |
| 45–54 | 131 | 81 | 22.2% |
| 55–64 | 114 | 67 | 22.0% |
| 65–74 | 45 | 25 | 25.7% |
| Over 74 | 26 | 11 | 40.0% |
Where Picatinny Federal Credit Union lends
6 states and 21 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| New Jersey | 470 | 286 | 19.4% | 3.99% | #124 |
| Pennsylvania | 11 | 7 | 18.2% | 6.88% | #683 |
Frequently asked questions
Picatinny Federal Credit Union denied 23.8% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 51st percentile of home-equity (HELOC) lenders.
The most common reason Picatinny Federal Credit Union gave in 2025 was "debt-to-income ratio", cited on 37.9% 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 Picatinny Federal Credit Union originated in 2025 was 3.99%, and its median rate spread over the average prime offer rate was -3.12 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 7% of its applications were for home purchases, 8% for refinancing (including cash-out), and 85% 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.