Lender profile · HMDA 2023–2025
Lower, LLC mortgage approval rates & lending data
Lower, LLC decided 42,514 mortgage applications and funded 36,084 loans across the 616 counties Fat Boy Data covers, 2023–2025.
Approval by loan type
| Loan type | Approval | Approved | Taken up | Typical loan | Loans made |
|---|---|---|---|---|---|
| Mortgage lenders | 92% | 27,381 / 29,901 | 99% | $305K | 26,991 |
| Cash-out refinance | 68% | 4,555 / 6,671 | 96% | $245K | 4,394 |
| Refinance | 77% | 2,246 / 2,926 | 96% | $345K | 2,167 |
| Investment property purchase | 91% | 2,088 / 2,295 | 98% | $195K | 2,040 |
| Investment cash-out refinance | 73% | 383 / 524 | 96% | $155K | 367 |
| Investment refinance | 69% | 133 / 194 | 93% | $255K | 124 |
Lower, LLC lending by state
| State | Approval | Typical loan | Decided | Loans made |
|---|---|---|---|---|
| Texas | 93% | $395K | 5,863 | 5,281 |
| Florida | 83% | $305K | 5,195 | 4,261 |
| Ohio | 89% | $265K | 3,956 | 3,401 |
| Illinois | 88% | $315K | 3,075 | 2,673 |
| South Carolina | 90% | $255K | 2,894 | 2,588 |
| Colorado | 91% | $385K | 2,422 | 2,176 |
| Maryland | 84% | $375K | 1,875 | 1,545 |
| Georgia | 79% | $295K | 1,788 | 1,370 |
| North Carolina | 87% | $285K | 1,718 | 1,483 |
| Virginia | 86% | $435K | 1,175 | 1,000 |
| Iowa | 93% | $235K | 1,041 | 963 |
| Pennsylvania | 79% | $225K | 833 | 643 |
| California | 71% | $355K | 809 | 554 |
| Louisiana | 89% | $225K | 808 | 713 |
| Indiana | 88% | $225K | 788 | 680 |
Covers the 616 counties in the Fat Boy Data footprint, which is 79.6% of the US population — not every county in each state. Methodology.