Rapid Mortgage 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 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%
97th0.4% deniedPricingmedian rate spread over APOR, weight 30%
20th0.71 ptsProcesswithdrawn + incomplete share, weight 15%
7th28.2%Closing coststotal loan costs ÷ loan amount, weight 10%
17th3.13% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 1,537 | 1,023 | 1.6% | 2.4% | 6.99% | $251M |
| 2024 | 1,219 | 861 | 0.2% | 0.2% | 6.99% | $218M |
| 2025 | 1,332 | 948 | 0.3% | 0.4% | 6.88% | $253M |
What Rapid Mortgage 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, 39 manufactured homes, 46 investment properties.
Why Rapid Mortgage denies applications
Primary reason reported for each of the 4 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Rapid Mortgage
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 123 | 79 | 1.3% |
| $50k – $100k | 648 | 478 | 0.2% |
| $100k – $150k | 326 | 237 | 0.4% |
| $150k – $250k | 163 | 109 | 0.9% |
| Over $250k | 68 | 45 | 0.0% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 139 | 101 | 0.0% |
| 25–34 | 469 | 339 | 0.3% |
| 35–44 | 311 | 218 | 1.4% |
| 45–54 | 217 | 150 | 0.0% |
| 55–64 | 126 | 90 | 0.0% |
| 65–74 | 50 | 36 | 0.0% |
| Over 74 | 20 | 14 | 0.0% |
Where Rapid Mortgage lends
12 states and 157 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Ohio | 1,044 | 748 | 0.4% | 6.88% | #86 |
| Indiana | 76 | 52 | 0.0% | 7.25% | #303 |
| North Carolina | 71 | 54 | 0.0% | 6.75% | #357 |
| South Carolina | 42 | 31 | 0.0% | 6.50% | #362 |
| Pennsylvania | 38 | 27 | 0.0% | 6.99% | #516 |
| Georgia | 23 | 14 | 0.0% | 6.69% | #547 |
| Kentucky | 18 | 13 | 0.0% | 6.75% | #367 |
| Florida | 13 | 6 | 0.0% | 6.75% | #858 |
Frequently asked questions
Rapid Mortgage denied 0.4% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 97th percentile of small mortgage lenders.
The most common reason Rapid Mortgage gave in 2025 was "collateral", cited on 75.0% 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 Rapid Mortgage originated in 2025 was 6.88%, and its median rate spread over the average prime offer rate was 0.71 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 84% of its applications were for home purchases, 16% for refinancing (including cash-out), and 0% for home improvement or other purposes. By loan type: 58% conventional, 34% FHA, 6% 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.