Spring Eq in Virginia vs the state
49.4%Denial rate+33.50 pts vs state
60.9%Decision denial rate+40.67 pts vs state
29.5%Origination rate-30.02 pts vs state
9.58%Median rate+2.95 pts vs state
3.52Rate spread (pts)+3.30 pts vs state
$131kMedian applicant income
1,024Loans originated
1,716Denied
Trend in Virginia
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 2,598 | 589 | 62.1% | 11.75% | #24 |
| 2024 | 3,073 | 968 | 52.3% | 10.05% | #21 |
| 2025 | 3,471 | 1,024 | 49.4% | 9.58% | #21 |
What Spring Eq lends in Virginia
By loan purpose
By loan type
Why it denied Virginia applicants
Where in Virginia
Counties with the most Spring Eq applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Fairfax County | 461 | 106 | 232 | 50.3% |
| Prince William County | 292 | 90 | 139 | 47.6% |
| Loudoun County | 288 | 89 | 131 | 45.5% |
| Chesterfield County | 196 | 59 | 98 | 50.0% |
| Virginia Beach city | 192 | 72 | 88 | 45.8% |
| Stafford County | 140 | 38 | 70 | 50.0% |
| Chesapeake city | 128 | 45 | 62 | 48.4% |
| Henrico County | 119 | 37 | 57 | 47.9% |
| Spotsylvania County | 114 | 30 | 67 | 58.8% |
| Suffolk city | 61 | 14 | 38 | 62.3% |
Other large lenders in Virginia
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Navy Federal Credit Union | D | 19,395 | 19.3% | 7.75% |
| Rocket Mortgage | C | 19,274 | 14.8% | 6.63% |
| United Shore Financial Services | B | 13,994 | 10.4% | 6.12% |
| Truist Bank | C | 11,838 | 31.6% | 6.49% |
| Mortgage Research Center | C | 9,000 | 16.7% | 6.25% |
| Pennymac Loan Services | C | 8,334 | 10.7% | 6.38% |
| Freedom Mortgage | B | 8,029 | 6.5% | 6.25% |
| Bank of America | F | 6,584 | 31.9% | 6.24% |
| Newrez | D | 6,390 | 16.4% | 6.38% |
| Movement Mortgage | A | 6,126 | 4.3% | 6.56% |
Frequently asked questions
Virginia: 3,471 applications in 2025, of which 1,024 were originated and 1,716 denied.
49.4% of all applications, or 60.9% of the applications it actually decided on. The Virginia statewide average across all lenders was 15.9%.
The median rate on loans Spring Eq originated in Virginia in 2025 was 9.58%, against a statewide median of 6.63%.
About this data. Figures are Spring Eq's own HMDA filing for properties located in Virginia, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology