TOWER Federal Credit Union in Virginia vs the state
24.3%Denial rate+8.33 pts vs state
27.0%Decision denial rate+6.79 pts vs state
63.8%Origination rate+4.30 pts vs state
7.00%Median rate+0.38 pts vs state
-0.20Rate spread (pts)-0.42 pts vs state
$193kMedian applicant income
681Loans originated
259Denied
Trend in Virginia
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 1,109 | 649 | 30.6% | 7.00% | #58 |
| 2024 | 1,011 | 568 | 32.0% | 7.75% | #73 |
| 2025 | 1,067 | 681 | 24.3% | 7.00% | #69 |
What TOWER Federal Credit Union lends in Virginia
By loan purpose
By loan type
Why it denied Virginia applicants
Where in Virginia
Counties with the most TOWER Federal Credit Union applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Fairfax County | 283 | 176 | 61 | 21.6% |
| Loudoun County | 153 | 92 | 47 | 30.7% |
| Prince William County | 83 | 47 | 29 | 34.9% |
| Chesterfield County | 61 | 41 | 13 | 21.3% |
| Alexandria city | 54 | 41 | 9 | 16.7% |
| Henrico County | 50 | 32 | 12 | 24.0% |
| Virginia Beach city | 34 | 27 | 4 | 11.8% |
| Arlington County | 30 | 21 | 7 | 23.3% |
| Albemarle County | 26 | 18 | 5 | 19.2% |
| Stafford County | 23 | 15 | 6 | 26.1% |
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: 1,067 applications in 2025, of which 681 were originated and 259 denied.
24.3% of all applications, or 27.0% of the applications it actually decided on. The Virginia statewide average across all lenders was 15.9%.
The median rate on loans TOWER Federal Credit Union originated in Virginia in 2025 was 7.00%, against a statewide median of 6.63%.
About this data. Figures are TOWER Federal Credit Union'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