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Norfolk city, Virginia · 2025

Mortgage lenders in Norfolk city, VA: denial rates and top lenders (2025)

317 lenders acted on 9,265 mortgage applications for properties in Norfolk city in 2025. 15.1% were denied (Virginia: 15.9%). Median rate on closed loans 6.50%; median loan $265,000; median property value $335,000.

9.3kApplications
15.1%Denial ratestate 15.9%
6.50%Median ratestate 6.63%
$265,000Median loan
$335,000Median property value

Largest lenders in Norfolk city

#LenderGradeApplicationsOriginatedDenial rateMedian rate
1 Navy Federal Credit Union D 875371 24.3%7.75%
2 Mortgage Research Center C 712383 15.6%6.25%
3 United Shore Financial Services B 635441 8.7%6.00%
4 Freedom Mortgage B 384182 8.3%6.25%
5 American Neighborhood Mortgage Acceptance Company B 355254 2.5%6.50%
6 Rocket Mortgage C 328230 16.2%6.63%
7 Pennymac Loan Services C 261109 10.7%6.00%
8 Newrez D 252100 18.7%6.25%
9 Atlantic Bay Mortgage Group A 249191 0.8%6.49%
10 Movement Mortgage A 224147 3.1%6.38%
11 Southern Trust Mortgage B 212160 2.4%6.38%
12 Truist Bank C 20599 40.5%6.75%
13 LANGLEY Federal Credit Union C 182126 25.3%6.99%
14 Chartway Federal Credit Union B 14888 26.4%3.69%
15 Kiavi Funding D 147103 14.3%10.49%
16 Towne Bank B 135102 10.4%6.99%
17 Newport News Shipbuilding Employees Credit Union, Inc. DBA Bayport Credit Union C 12682 14.3%7.00%
18 Bank of America F 12450 38.7%6.25%
19 Crosscountry Mortgage B 11981 2.5%6.45%
20 Broker Solutions D 9127 14.3%6.75%
21 Atlantic Coast Mortgage A 9176 0.0%6.50%
22 Towne Mortgage B 8868 1.1%6.63%
23 American Financial Network C 8869 3.4%6.50%
24 Advance Financial Group B 8263 3.7%6.38%
25 Loandepot.Com D 8037 28.8%7.88%

Best approval odds in Norfolk city

Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.

#LenderDecidedDecision denial rate
1Atlantic Coast Mortgage790.0%
2Atlantic Bay Mortgage Group1961.0%
3Towne Mortgage701.4%
4Southern Trust Mortgage1663.0%
5American Neighborhood Mortgage Acceptance Company2673.4%
6Crosscountry Mortgage883.4%
7Archer Mortgage543.7%
8Movement Mortgage1873.7%
9American Financial Network724.2%
10Advance Financial Group664.6%

What Norfolk city borrowers applied for

By loan purpose

Home purchase 4,147 45% · 5.7% denied
Refinance 1,861 20% · 13.0% denied
Cash-out refinance 1,597 17% · 22.5% denied
Home improvement 784 8% · 35.0% denied
Other / HELOC 876 9% · 32.9% denied

By loan type

Conventional 4,624 50% · 20.2% denied
FHA 995 11% · 13.1% denied
VA 3,645 39% · 9.1% denied
USDA / RHS 1 0% · 0.0% denied

Why applications were denied

Debt-to-income ratio 390 28%
Credit history 332 24%
Incomplete application 218 16%
Other 174 12%
Collateral 171 12%
Unverifiable information 68 5%
Insufficient cash 36 3%
Employment history 8 1%

Norfolk city by year

YearApplicationsOriginatedDenial rateMedian rateMedian loan
20237,4444,23918.6%6.75%$225,000
20248,4654,92516.3%6.63%$245,000
20259,2655,29115.1%6.50%$265,000

Frequently asked questions

15.1% of applications in Norfolk city were denied in 2025, against 15.9% statewide in Virginia.

Navy Federal Credit Union, with 875 applications in 2025 and a denial rate of 24.3%.

The median mortgage application in Norfolk city in 2025 was for $265,000; the median property value on originated loans was $335,000.