Schoolsfirst at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the A 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%
89th11.7% deniedPricingmedian rate spread over APOR, weight 30%
75th-0.35 ptsProcesswithdrawn + incomplete share, weight 15%
42nd14.1%Closing coststotal loan costs ÷ loan amount, weight 10%
58th2.85% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 13,937 | 10,456 | 10.3% | 11.9% | 7.50% | $1.9B |
| 2024 | 16,937 | 12,403 | 11.6% | 13.5% | 7.00% | $2.5B |
| 2025 | 19,086 | 14,224 | 10.0% | 11.7% | 6.25% | $3.4B |
What Schoolsfirst 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: 10,682 home-equity lines, 0 reverse mortgages, 122 manufactured homes, 899 investment properties.
Why Schoolsfirst denies applications
Primary reason reported for each of the 1,917 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Schoolsfirst
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 824 | 327 | 52.3% |
| $50k – $100k | 3,800 | 2,566 | 19.7% |
| $100k – $150k | 5,585 | 4,231 | 9.5% |
| $150k – $250k | 5,954 | 4,747 | 5.8% |
| Over $250k | 2,741 | 2,222 | 5.1% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 55 | 36 | 9.5% |
| 25–34 | 1,697 | 1,186 | 11.4% |
| 35–44 | 4,533 | 3,287 | 12.9% |
| 45–54 | 5,510 | 4,223 | 11.0% |
| 55–64 | 4,116 | 3,063 | 12.0% |
| 65–74 | 2,219 | 1,706 | 11.1% |
| Over 74 | 956 | 723 | 10.7% |
Where Schoolsfirst lends
1 states and 55 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| California | 19,086 | 14,224 | 10.0% | 6.25% | #7 |
Frequently asked questions
Schoolsfirst denied 11.7% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 89th percentile of home-equity (HELOC) lenders.
The most common reason Schoolsfirst gave in 2025 was "debt-to-income ratio", cited on 61.9% 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 Schoolsfirst originated in 2025 was 6.25%, and its median rate spread over the average prime offer rate was -0.35 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 12% of its applications were for home purchases, 30% for refinancing (including cash-out), and 57% 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.