Westfield Bank 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%
54th8.8% deniedPricingmedian rate spread over APOR, weight 30%
89th-0.15 ptsProcesswithdrawn + incomplete share, weight 15%
46th12.3%Closing coststotal loan costs ÷ loan amount, weight 10%
26th2.64% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 942 | 671 | 8.6% | 10.3% | 6.38% | $127M |
| 2024 | 1,042 | 773 | 8.3% | 9.6% | 7.00% | $167M |
| 2025 | 1,124 | 875 | 7.7% | 8.8% | 6.25% | $191M |
What Westfield Bank 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: 528 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 18 investment properties.
Why Westfield Bank denies applications
Primary reason reported for each of the 87 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Westfield Bank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 113 | 67 | 29.3% |
| $50k – $100k | 409 | 314 | 8.8% |
| $100k – $150k | 274 | 220 | 5.8% |
| $150k – $250k | 220 | 181 | 5.1% |
| Over $250k | 74 | 65 | 0.0% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 29 | 24 | 7.4% |
| 25–34 | 223 | 191 | 4.0% |
| 35–44 | 237 | 178 | 9.9% |
| 45–54 | 186 | 153 | 7.1% |
| 55–64 | 242 | 170 | 15.1% |
| 65–74 | 151 | 115 | 7.9% |
| Over 74 | 52 | 40 | 8.2% |
Where Westfield Bank lends
7 states and 29 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Massachusetts | 940 | 744 | 6.7% | 6.38% | #52 |
| Connecticut | 171 | 123 | 14.0% | 6.25% | #118 |
Frequently asked questions
Westfield Bank denied 8.8% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 54th percentile of small mortgage lenders.
The most common reason Westfield Bank gave in 2025 was "debt-to-income ratio", cited on 42.5% 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 Westfield Bank originated in 2025 was 6.25%, and its median rate spread over the average prime offer rate was -0.15 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 33% of its applications were for home purchases, 23% for refinancing (including cash-out), and 43% for home improvement or other purposes. By loan type: 100% conventional, 0% FHA, 0% 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.