Largest lenders in Salem city
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | Atlantic Bay Mortgage Group | A | 81 | 69 | 0.0% | 6.63% |
| 2 | Rocket Mortgage | C | 67 | 54 | 11.9% | 6.50% |
| 3 | FREEDOM FIRST Federal Credit Union | C | 60 | 48 | 6.7% | 6.44% |
| 4 | Virginia Credit Union | D | 46 | 34 | 21.7% | 6.31% |
| 5 | Atlantic Union Bank | C | 44 | 33 | 22.7% | 7.50% |
| 6 | Truist Bank | C | 39 | 32 | 10.3% | 7.48% |
| 7 | Movement Mortgage | A | 24 | 23 | 0.0% | 6.88% |
| 8 | Pinnacle Bank | B | 24 | 14 | 20.8% | 7.19% |
| 9 | Alcova Mortgage | A | 21 | 18 | 0.0% | 6.63% |
| 10 | Mortgage Research Center | C | 19 | 8 | 21.1% | 6.56% |
| 11 | Pennymac Loan Services | C | 18 | 7 | 11.1% | 6.38% |
| 12 | CNB Bank | A | 18 | 13 | 11.1% | 6.50% |
| 13 | United Shore Financial Services | B | 17 | 13 | 17.7% | 5.75% |
| 14 | Vanderbilt Mortgage and Finance | F | 15 | 0 | 26.7% | — |
| 15 | First-Citizens Bank & Trust | B | 14 | 10 | 21.4% | 6.61% |
| 16 | Blue Eagle Credit Union | C | 13 | 9 | 15.4% | 6.00% |
| 17 | Loandepot.Com | D | 13 | 7 | 30.8% | 6.58% |
| 18 | Integrity Home Mortgage | B | 12 | 10 | 0.0% | 6.88% |
| 19 | AmeriSave Mortgage | D | 10 | 3 | 60.0% | 7.13% |
| 20 | Freedom Mortgage | B | 10 | 1 | 10.0% | 6.25% |
| 21 | Navy Federal Credit Union | D | 10 | 4 | 0.0% | 8.19% |
| 22 | Nationstar Mortgage | C | 9 | 7 | 11.1% | 8.63% |
| 23 | Swbc Mortgage | A | 9 | 7 | 0.0% | 6.88% |
| 24 | Discover Bank | F | 8 | 1 | 25.0% | 8.68% |
| 25 | Wells Fargo Bank | B | 8 | 7 | 0.0% | 6.50% |
Best approval odds in Salem city
Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.
| # | Lender | Decided | Decision denial rate |
|---|---|---|---|
| 1 | Atlantic Bay Mortgage Group | 70 | 0.0% |
| 2 | FREEDOM FIRST Federal Credit Union | 55 | 7.3% |
| 3 | Rocket Mortgage | 65 | 12.3% |
What Salem city borrowers applied for
By loan purpose
By loan type
Why applications were denied
Salem city by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan |
|---|---|---|---|---|---|
| 2023 | 708 | 461 | 18.6% | 6.99% | $155,000 |
| 2024 | 789 | 517 | 16.2% | 6.99% | $165,000 |
| 2025 | 896 | 611 | 12.4% | 6.71% | $185,000 |
Frequently asked questions
12.4% of applications in Salem city were denied in 2025, against 15.9% statewide in Virginia.
Atlantic Bay Mortgage Group, with 81 applications in 2025 and a denial rate of 0.0%.
The median mortgage application in Salem city in 2025 was for $185,000; the median property value on originated loans was $315,000.