SmartBank 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 581 mid-size mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
41st12.9% deniedPricingmedian rate spread over APOR, weight 30%
56th0.22 ptsProcesswithdrawn + incomplete share, weight 15%
96th4.0%Closing coststotal loan costs ÷ loan amount, weight 10%
68th1.89% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 1,023 | 728 | 15.0% | 16.3% | 7.75% | $209M |
| 2024 | 1,200 | 827 | 14.8% | 15.6% | 7.88% | $285M |
| 2025 | 1,369 | 1,025 | 12.4% | 12.9% | 7.25% | $356M |
What SmartBank 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: 529 home-equity lines, 0 reverse mortgages, 8 manufactured homes, 260 investment properties.
Why SmartBank denies applications
Primary reason reported for each of the 170 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at SmartBank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 95 | 51 | 44.1% |
| $50k – $100k | 301 | 202 | 19.1% |
| $100k – $150k | 243 | 180 | 14.0% |
| $150k – $250k | 256 | 206 | 8.3% |
| Over $250k | 218 | 183 | 4.7% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 33 | 17 | 21.2% |
| 25–34 | 240 | 184 | 11.0% |
| 35–44 | 270 | 199 | 13.4% |
| 45–54 | 245 | 188 | 13.0% |
| 55–64 | 253 | 179 | 19.2% |
| 65–74 | 147 | 117 | 10.1% |
| Over 74 | 48 | 37 | 12.8% |
Where SmartBank lends
14 states and 119 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Tennessee | 873 | 662 | 13.1% | 7.25% | #74 |
| Alabama | 308 | 258 | 8.1% | 7.25% | #123 |
| Florida | 77 | 61 | 7.8% | 7.13% | #530 |
| Georgia | 51 | 31 | 11.8% | 6.38% | #435 |
| South Carolina | 5 | 5 | 0.0% | 6.63% | #632 |
Frequently asked questions
SmartBank denied 12.9% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 41st percentile of mid-size mortgage lenders.
The most common reason SmartBank gave in 2025 was "debt-to-income ratio", cited on 54.1% 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 SmartBank originated in 2025 was 7.25%, and its median rate spread over the average prime offer rate was 0.22 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 51% of its applications were for home purchases, 13% for refinancing (including cash-out), and 37% for home improvement or other purposes. By loan type: 92% conventional, 5% FHA, 3% 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.