Spectra Credit Union at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the D 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%
35th29.9% deniedPricingmedian rate spread over APOR, weight 30%
13th0.82 ptsProcesswithdrawn + incomplete share, weight 15%
42nd14.1%Closing coststotal loan costs ÷ loan amount, weight 10%
18th4.64% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 344 | 204 | 23.8% | 27.0% | 9.25% | $33M |
| 2024 | 212 | 116 | 25.9% | 30.2% | 9.00% | $16M |
| 2025 | 191 | 109 | 25.7% | 29.9% | 8.00% | $18M |
What Spectra Credit Union 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: 167 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 12 investment properties.
Why Spectra Credit Union denies applications
Primary reason reported for each of the 49 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Spectra Credit Union
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| $50k – $100k | 42 | 23 | 40.0% |
| $100k – $150k | 39 | 21 | 34.4% |
| $150k – $250k | 57 | 35 | 24.5% |
| Over $250k | 43 | 27 | 11.8% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 35–44 | 50 | 25 | 35.7% |
| 45–54 | 40 | 22 | 35.3% |
| 55–64 | 43 | 29 | 18.9% |
| 65–74 | 26 | 13 | 36.4% |
| Over 74 | 21 | 15 | 15.8% |
Where Spectra Credit Union lends
25 states and 65 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Maryland | 88 | 44 | 30.7% | 8.00% | #252 |
| Virginia | 51 | 30 | 27.5% | 8.00% | #371 |
| District of Columbia | 8 | 6 | 12.5% | 8.00% | #209 |
| North Carolina | 5 | 3 | 20.0% | 8.50% | #726 |
| Ohio | 5 | 3 | 20.0% | 9.00% | #701 |
Frequently asked questions
Spectra Credit Union denied 29.9% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 35th percentile of home-equity (HELOC) lenders.
The most common reason Spectra Credit Union gave in 2025 was "debt-to-income ratio", cited on 63.3% 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 Spectra Credit Union originated in 2025 was 8.00%, and its median rate spread over the average prime offer rate was 0.82 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 14% of its applications were for home purchases, 20% for refinancing (including cash-out), and 65% 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.