RCN Capital at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the D grade breaks down
Each component is a percentile rank among 220 investment-property lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
3rd46.2% deniedProcesswithdrawn + incomplete share, weight 15%
76th1.4%Trend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 12,395 | 6,915 | 13.7% | 19.7% | 8.09% | $1.4B |
| 2024 | 12,981 | 8,038 | 15.6% | 20.1% | 8.12% | $1.7B |
| 2025 | 13,309 | 7,055 | 45.6% | 46.2% | 7.84% | $1.5B |
What RCN Capital 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, 0 manufactured homes, 13,309 investment properties.
Why RCN Capital denies applications
Primary reason reported for each of the 6,067 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Where RCN Capital lends
51 states and 0 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Ohio | 1,391 | 844 | 37.6% | 7.85% | #66 |
| Maryland | 986 | 677 | 30.0% | 7.75% | #55 |
| Pennsylvania | 967 | 568 | 40.2% | 7.98% | #90 |
| Florida | 927 | 450 | 49.3% | 7.80% | #162 |
| Michigan | 829 | 560 | 31.5% | 7.93% | #88 |
| New York | 707 | 314 | 53.6% | 8.00% | #111 |
| Texas | 704 | 248 | 63.4% | 7.57% | #212 |
| Connecticut | 657 | 401 | 37.1% | 9.49% | #47 |
| Illinois | 587 | 259 | 54.5% | 8.10% | #119 |
| North Carolina | 531 | 284 | 45.6% | 7.73% | #132 |
| Missouri | 526 | 357 | 31.2% | 7.46% | #88 |
| Georgia | 519 | 220 | 55.3% | 7.92% | #149 |
| New Jersey | 488 | 298 | 37.9% | 9.77% | #120 |
| Indiana | 467 | 262 | 42.8% | 7.76% | #121 |
| Alabama | 331 | 147 | 55.3% | 7.89% | #111 |
| South Carolina | 299 | 173 | 41.8% | 7.60% | #139 |
| Tennessee | 297 | 152 | 47.5% | 7.54% | #165 |
| Virginia | 229 | 102 | 52.4% | 7.70% | #194 |
| Massachusetts | 228 | 138 | 38.6% | 9.99% | #146 |
| California | 227 | 41 | 81.5% | 9.99% | #346 |
| Wisconsin | 164 | 76 | 49.4% | 7.85% | #183 |
| Louisiana | 139 | 80 | 42.5% | 7.85% | #144 |
| Kentucky | 133 | 66 | 49.6% | 8.20% | #179 |
| Delaware | 115 | 73 | 35.7% | 7.83% | #77 |
| Oklahoma | 97 | 39 | 56.7% | 7.70% | #192 |
| Mississippi | 96 | 47 | 49.0% | 7.70% | #134 |
| Kansas | 88 | 46 | 47.7% | 7.34% | #176 |
| Arizona | 62 | 9 | 85.5% | 7.97% | #288 |
| Arkansas | 59 | 19 | 67.8% | 7.21% | #194 |
| Colorado | 52 | 6 | 86.5% | 7.41% | #300 |
| Washington | 50 | 12 | 74.0% | 7.64% | #295 |
| District of Columbia | 45 | 12 | 71.1% | 10.52% | #77 |
| West Virginia | 41 | 14 | 65.9% | 7.62% | #148 |
| Iowa | 40 | 10 | 72.5% | 7.71% | #239 |
| Rhode Island | 37 | 9 | 75.7% | 9.84% | #114 |
| New Mexico | 27 | 6 | 77.8% | 10.44% | #183 |
| Nebraska | 26 | 12 | 53.9% | 7.87% | #189 |
| Minnesota | 20 | 4 | 80.0% | 7.31% | #391 |
| Maine | 18 | 5 | 66.7% | 11.09% | #178 |
| Idaho | 17 | 4 | 76.5% | 7.54% | #231 |
| Oregon | 17 | 2 | 88.2% | 7.00% | #307 |
| New Hampshire | 13 | 2 | 84.6% | 7.56% | #235 |
| Utah | 13 | 2 | 84.6% | 9.07% | #265 |
| Nevada | 11 | 1 | 90.9% | 6.92% | #309 |
| Hawaii | 10 | 2 | 80.0% | 11.02% | #169 |
| Montana | 7 | 1 | 71.4% | 11.24% | #209 |
| Wyoming | 5 | 1 | 80.0% | 10.24% | #195 |
Frequently asked questions
RCN Capital denied 46.2% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 3rd percentile of investment-property lenders.
The most common reason RCN Capital gave in 2025 was "other", cited on 81.4% 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 RCN Capital originated in 2025 was 7.84%, and its median rate spread over the average prime offer rate was 0.00 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 40% of its applications were for home purchases, 11% for refinancing (including cash-out), and 49% 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.