Sofi Bank in Massachusetts vs the state
8.0%Denial rate-8.18 pts vs state
21.1%Decision denial rate+1.11 pts vs state
29.5%Origination rate-33.08 pts vs state
7.49%Median rate+0.87 pts vs state
1.66Rate spread (pts)+1.56 pts vs state
$153kMedian applicant income
364Loans originated
99Denied
Trend in Massachusetts
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 132 | 32 | 18.2% | 6.88% | #200 |
| 2024 | 347 | 124 | 17.0% | 6.81% | #101 |
| 2025 | 1,233 | 364 | 8.0% | 7.49% | #40 |
What Sofi Bank lends in Massachusetts
By loan purpose
By loan type
Why it denied Massachusetts applicants
Where in Massachusetts
Counties with the most Sofi Bank applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Middlesex County | 245 | 78 | 17 | 6.9% |
| Worcester County | 194 | 57 | 14 | 7.2% |
| Essex County | 165 | 52 | 13 | 7.9% |
| Norfolk County | 153 | 51 | 12 | 7.8% |
| Plymouth County | 122 | 31 | 10 | 8.2% |
| Bristol County | 106 | 33 | 12 | 11.3% |
| Suffolk County | 75 | 14 | 6 | 8.0% |
| Hampden County | 62 | 23 | 4 | 6.5% |
| Barnstable County | 50 | 10 | 8 | 16.0% |
| Hampshire County | 29 | 9 | 2 | 6.9% |
Other large lenders in Massachusetts
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Citizens Bank | C | 17,476 | 29.0% | 7.40% |
| Rocket Mortgage | C | 8,698 | 15.9% | 6.75% |
| Bank of America | F | 7,784 | 30.1% | 5.99% |
| Guaranteed Rate | B | 7,313 | 4.5% | 6.50% |
| Eastern Bank | B | 6,216 | 31.8% | 6.99% |
| Rockland Trust | C | 5,990 | 28.6% | 6.99% |
| Leader Bank | A | 5,913 | 1.8% | 6.25% |
| United Shore Financial Services | B | 5,898 | 12.8% | 6.50% |
| Crosscountry Mortgage | B | 5,634 | 3.8% | 6.63% |
| TD Bank | D | 3,778 | 26.9% | 7.44% |
Frequently asked questions
Massachusetts: 1,233 applications in 2025, of which 364 were originated and 99 denied.
8.0% of all applications, or 21.1% of the applications it actually decided on. The Massachusetts statewide average across all lenders was 16.2%.
The median rate on loans Sofi Bank originated in Massachusetts in 2025 was 7.49%, against a statewide median of 6.63%.
About this data. Figures are Sofi Bank's own HMDA filing for properties located in Massachusetts, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology