Rave Financial 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 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%
6th33.2% deniedPricingmedian rate spread over APOR, weight 30%
93rd-0.30 ptsProcesswithdrawn + incomplete share, weight 15%
79th4.8%Closing coststotal loan costs ÷ loan amount, weight 10%
97th0.37% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 477 | 231 | 37.1% | 39.0% | 6.00% | $34M |
| 2024 | 400 | 204 | 34.5% | 35.5% | 6.50% | $26M |
| 2025 | 456 | 256 | 31.6% | 33.2% | 5.88% | $30M |
What Rave Financial 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: 0 home-equity lines, 0 reverse mortgages, 3 manufactured homes, 0 investment properties.
Why Rave Financial Credit Union denies applications
Primary reason reported for each of the 144 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Rave Financial 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 | 66 | 23 | 55.6% |
| $50k – $100k | 171 | 102 | 29.3% |
| $100k – $150k | 103 | 60 | 31.6% |
| $150k – $250k | 90 | 54 | 28.6% |
| Over $250k | 22 | 15 | 22.7% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 59 | 26 | 42.9% |
| 35–44 | 99 | 59 | 28.0% |
| 45–54 | 104 | 64 | 32.3% |
| 55–64 | 93 | 50 | 34.1% |
| 65–74 | 75 | 42 | 31.9% |
| Over 74 | 23 | 14 | 34.8% |
Where Rave Financial Credit Union lends
1 states and 26 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Texas | 456 | 256 | 31.6% | 5.88% | #279 |
Frequently asked questions
Rave Financial Credit Union denied 33.2% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 6th percentile of small mortgage lenders.
The most common reason Rave Financial Credit Union gave in 2025 was "credit history", cited on 50.7% 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 Rave Financial Credit Union originated in 2025 was 5.88%, and its median rate spread over the average prime offer rate was -0.30 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 12% of its applications were for home purchases, 25% for refinancing (including cash-out), and 63% 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.