Redwood 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 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%
59th21.2% deniedPricingmedian rate spread over APOR, weight 30%
12th0.84 ptsProcesswithdrawn + incomplete share, weight 15%
27th17.0%Closing coststotal loan costs ÷ loan amount, weight 10%
25th4.21% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 4,020 | 2,635 | 13.6% | 16.8% | 7.49% | $690M |
| 2024 | 3,494 | 2,060 | 21.3% | 25.8% | 8.75% | $600M |
| 2025 | 4,626 | 2,928 | 17.6% | 21.2% | 8.00% | $1.1B |
What Redwood 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: 2,345 home-equity lines, 0 reverse mortgages, 78 manufactured homes, 373 investment properties.
Why Redwood denies applications
Primary reason reported for each of the 813 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Redwood
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 225 | 65 | 63.4% |
| $50k – $100k | 861 | 443 | 35.9% |
| $100k – $150k | 917 | 573 | 19.8% |
| $150k – $250k | 1,252 | 869 | 13.7% |
| Over $250k | 1,277 | 922 | 11.4% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 28 | 21 | 19.2% |
| 25–34 | 465 | 327 | 19.8% |
| 35–44 | 1,072 | 695 | 19.9% |
| 45–54 | 997 | 617 | 23.0% |
| 55–64 | 983 | 614 | 20.6% |
| 65–74 | 694 | 424 | 22.2% |
| Over 74 | 375 | 221 | 22.4% |
Where Redwood lends
3 states and 49 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| California | 4,623 | 2,928 | 17.5% | 8.00% | #42 |
Frequently asked questions
Redwood denied 21.2% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 59th percentile of home-equity (HELOC) lenders.
The most common reason Redwood gave in 2025 was "debt-to-income ratio", cited on 52.4% 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 Redwood originated in 2025 was 8.00%, and its median rate spread over the average prime offer rate was 0.84 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 24% of its applications were for home purchases, 22% for refinancing (including cash-out), and 54% 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.