Summit Funding in Virginia vs the state
4.6%Denial rate-11.37 pts vs state
5.4%Decision denial rate-14.90 pts vs state
80.4%Origination rate+20.85 pts vs state
6.38%Median rate-0.25 pts vs state
0.32Rate spread (pts)+0.10 pts vs state
$110kMedian applicant income
176Loans originated
10Denied
Trend in Virginia
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 50 | 29 | 8.0% | 7.13% | #366 |
| 2024 | 149 | 109 | 5.4% | 6.63% | #231 |
| 2025 | 219 | 176 | 4.6% | 6.38% | #198 |
What Summit Funding lends in Virginia
By loan purpose
By loan type
Why it denied Virginia applicants
Where in Virginia
Counties with the most Summit Funding applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Spotsylvania County | 40 | 35 | 1 | 2.5% |
| Fairfax County | 27 | 17 | 2 | 7.4% |
| Stafford County | 22 | 21 | 0 | 0.0% |
| Caroline County | 20 | 16 | 1 | 5.0% |
| Orange County | 17 | 14 | 0 | 0.0% |
| Prince William County | 9 | 6 | 1 | 11.1% |
| Louisa County | 9 | 9 | 0 | 0.0% |
| King George County | 7 | 5 | 1 | 14.3% |
| Loudoun County | 6 | 5 | 0 | 0.0% |
| Arlington County | 6 | 5 | 1 | 16.7% |
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: 219 applications in 2025, of which 176 were originated and 10 denied.
4.6% of all applications, or 5.4% of the applications it actually decided on. The Virginia statewide average across all lenders was 15.9%.
The median rate on loans Summit Funding originated in Virginia in 2025 was 6.38%, against a statewide median of 6.63%.
About this data. Figures are Summit Funding'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