Simplicity 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 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%
34th13.7% deniedPricingmedian rate spread over APOR, weight 30%
48th0.28 ptsProcesswithdrawn + incomplete share, weight 15%
31st16.0%Closing coststotal loan costs ÷ loan amount, weight 10%
49th1.95% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 692 | 507 | 8.1% | 9.3% | 6.50% | $62M |
| 2024 | 648 | 493 | 7.9% | 9.3% | 7.00% | $65M |
| 2025 | 738 | 531 | 11.5% | 13.7% | 7.00% | $66M |
What Simplicity 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: 159 home-equity lines, 0 reverse mortgages, 8 manufactured homes, 49 investment properties.
Why Simplicity denies applications
Primary reason reported for each of the 85 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Simplicity
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 109 | 69 | 25.0% |
| $50k – $100k | 323 | 233 | 14.7% |
| $100k – $150k | 179 | 130 | 11.5% |
| $150k – $250k | 51 | 38 | 7.3% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 53 | 37 | 9.5% |
| 25–34 | 137 | 99 | 12.4% |
| 35–44 | 156 | 111 | 11.7% |
| 45–54 | 158 | 110 | 18.5% |
| 55–64 | 122 | 87 | 16.4% |
| 65–74 | 50 | 31 | 15.8% |
Where Simplicity lends
1 states and 30 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Wisconsin | 738 | 531 | 11.5% | 7.00% | #69 |
Frequently asked questions
Simplicity denied 13.7% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 34th percentile of small mortgage lenders.
The most common reason Simplicity gave in 2025 was "debt-to-income ratio", cited on 65.9% 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 Simplicity originated in 2025 was 7.00%, and its median rate spread over the average prime offer rate was 0.28 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 31% of its applications were for home purchases, 25% for refinancing (including cash-out), and 43% 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.