Find a better mortgage lender

Summit Funding · California · 2025

Summit Funding in California: approval rate, denial rate and rates (2025)

Summit Funding took 1,457 mortgage applications in California in 2025, ranking #130 of 1,147 lenders active in the state. It originated 65.3% of them and denied 7.3% (9.9% of the applications it decided), against a statewide denial rate of 17.4%.

1.5kApplicationsin CA
9.9%Decision denial ratestate 22.4%
6.63%Median ratestate 6.63%
$375,000Median loanstate $385,000
$385MVolume50 counties
Full Summit Funding review All lenders in California

Summit Funding in California vs the state

7.3%Denial rate-10.14 pts vs state
9.9%Decision denial rate-12.47 pts vs state
65.3%Origination rate+9.07 pts vs state
6.63%Median rate0.00 pts vs state
0.47Rate spread (pts)+0.20 pts vs state
$134kMedian applicant income
951Loans originated
106Denied

Trend in California

YearApplicationsOriginatedDenial rateMedian rateRank in state
20232,5371,7724.3%6.63%#66
20241,3669146.7%6.75%#126
20251,4579517.3%6.63%#130

What Summit Funding lends in California

By loan purpose

Home purchase 1,090 75% · 3.9% denied
Refinance 159 11% · 13.2% denied
Cash-out refinance 120 8% · 25.8% denied
Home improvement 9 1% · 11.1% denied
Other / HELOC 79 5% · 13.9% denied

By loan type

Conventional 1,131 78% · 8.7% denied
FHA 283 19% · 1.8% denied
VA 40 3% · 7.5% denied
USDA / RHS 3 0% · 0.0% denied

Why it denied California applicants

Debt-to-income ratio 34 32%
Other 28 26%
Collateral 21 20%
Credit history 14 13%
Unverifiable information 6 6%
Incomplete application 2 2%
Insufficient cash 1 1%

Where in California

Counties with the most Summit Funding applications in 2025.

CountyApplicationsOriginatedDeniedDenial rate
Shasta County 2491837 2.8%
San Joaquin County 1781378 4.5%
Sacramento County 1591163 1.9%
Los Angeles County 1355727 20.0%
Monterey County 99705 5.1%
Humboldt County 94633 3.2%
San Diego County 46238 17.4%
Siskiyou County 44272 4.5%
Tehama County 35221 2.9%
Riverside County 32148 25.0%

Other large lenders in California

LenderGradeApplicationsDenial rateMedian rate
United Shore Financial ServicesB 79,26112.6%6.49%
Rocket MortgageC 58,92517.6%6.75%
Bank of AmericaF 40,19030.8%5.99%
U.S. BankD 32,49331.6%6.50%
JPMorgan Chase BankB 22,0489.7%6.13%
Spring EqD 21,60150.8%8.88%
SchoolsfirstA 19,08610.0%6.25%
Pennymac Loan ServicesC 18,75413.5%6.50%
NewrezD 17,00019.3%6.63%
Loandepot.ComD 16,64518.7%6.63%

Frequently asked questions

California: 1,457 applications in 2025, of which 951 were originated and 106 denied.

7.3% of all applications, or 9.9% of the applications it actually decided on. The California statewide average across all lenders was 17.4%.

The median rate on loans Summit Funding originated in California in 2025 was 6.63%, against a statewide median of 6.63%.

About this data. Figures are Summit Funding's own HMDA filing for properties located in California, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology