Spring Eq in North Carolina vs the state
47.7%Denial rate+29.62 pts vs state
58.9%Decision denial rate+36.07 pts vs state
31.3%Origination rate-26.49 pts vs state
9.15%Median rate+2.65 pts vs state
3.17Rate spread (pts)+3.09 pts vs state
$113kMedian applicant income
1,116Loans originated
1,699Denied
Trend in North Carolina
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 2,901 | 661 | 59.8% | 11.03% | #30 |
| 2024 | 3,483 | 1,084 | 49.7% | 9.75% | #30 |
| 2025 | 3,563 | 1,116 | 47.7% | 9.15% | #30 |
What Spring Eq lends in North Carolina
By loan purpose
By loan type
Why it denied North Carolina applicants
Where in North Carolina
Counties with the most Spring Eq applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Mecklenburg County | 505 | 162 | 241 | 47.7% |
| Wake County | 397 | 120 | 188 | 47.4% |
| Union County | 197 | 74 | 82 | 41.6% |
| Cabarrus County | 175 | 62 | 80 | 45.7% |
| Forsyth County | 141 | 36 | 68 | 48.2% |
| Guilford County | 134 | 31 | 80 | 59.7% |
| Johnston County | 118 | 43 | 49 | 41.5% |
| Iredell County | 113 | 40 | 55 | 48.7% |
| Gaston County | 107 | 31 | 50 | 46.7% |
| Cumberland County | 94 | 24 | 51 | 54.3% |
Other large lenders in North Carolina
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| State Employees' | C | 47,893 | 25.2% | 6.25% |
| Rocket Mortgage | C | 25,109 | 16.0% | 6.63% |
| United Shore Financial Services | B | 18,884 | 11.4% | 6.13% |
| Vanderbilt Mortgage and Finance | F | 15,008 | 38.0% | 7.75% |
| Truist Bank | C | 14,364 | 30.3% | 6.50% |
| Movement Mortgage | A | 11,091 | 2.6% | 6.63% |
| Navy Federal Credit Union | D | 10,565 | 19.4% | 7.13% |
| First-Citizens Bank & Trust | B | 10,319 | 19.6% | 6.38% |
| Bank of America | F | 10,276 | 28.2% | 6.24% |
| Mortgage Research Center | C | 10,029 | 17.7% | 6.25% |
Frequently asked questions
North Carolina: 3,563 applications in 2025, of which 1,116 were originated and 1,699 denied.
47.7% of all applications, or 58.9% of the applications it actually decided on. The North Carolina statewide average across all lenders was 18.1%.
The median rate on loans Spring Eq originated in North Carolina in 2025 was 9.15%, against a statewide median of 6.50%.
About this data. Figures are Spring Eq's own HMDA filing for properties located in North Carolina, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology