Towne Mortgage at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the B grade breaks down
Each component is a percentile rank among 1,883 small mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
89th2.0% deniedPricingmedian rate spread over APOR, weight 30%
56th0.22 ptsProcesswithdrawn + incomplete share, weight 15%
19th20.4%Closing coststotal loan costs ÷ loan amount, weight 10%
25th2.71% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 535 | 422 | 2.8% | 3.4% | 6.75% | $145M |
| 2024 | 548 | 439 | 2.6% | 3.1% | 6.63% | $150M |
| 2025 | 642 | 497 | 1.6% | 2.0% | 6.50% | $185M |
What Towne Mortgage lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 0 home-equity lines, 0 reverse mortgages, 3 manufactured homes, 33 investment properties.
Why Towne Mortgage denies applications
Primary reason reported for each of the 10 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Towne Mortgage
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| $50k – $100k | 221 | 172 | 4.4% |
| $100k – $150k | 171 | 130 | 1.5% |
| $150k – $250k | 151 | 125 | 0.0% |
| Over $250k | 73 | 51 | 0.0% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 38 | 28 | 9.7% |
| 25–34 | 184 | 157 | 0.6% |
| 35–44 | 159 | 122 | 0.8% |
| 45–54 | 94 | 72 | 1.4% |
| 55–64 | 104 | 73 | 3.9% |
| 65–74 | 42 | 32 | 3.0% |
| Over 74 | 21 | 13 | 0.0% |
Where Towne Mortgage lends
2 states and 51 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Virginia | 600 | 468 | 1.0% | 6.50% | #100 |
| North Carolina | 42 | 29 | 9.5% | 6.56% | #424 |
Frequently asked questions
Towne Mortgage denied 2.0% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 89th percentile of small mortgage lenders.
The most common reason Towne Mortgage gave in 2025 was "incomplete application", cited on 30.0% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans Towne Mortgage originated in 2025 was 6.50%, and its median rate spread over the average prime offer rate was 0.22 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 96% of its applications were for home purchases, 4% for refinancing (including cash-out), and 1% for home improvement or other purposes. By loan type: 56% conventional, 17% FHA, 27% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.