Compare Mortgage Lenders
Select two lenders to compare side by side using 2023 HMDA federal data: approval rates, denial rates, loan sizes, loan types, and geographic reach.
Key Metrics
| Metric | ALCOVA Mortgage, LLC | First Ciitizens Bank |
|---|---|---|
| Total Applications | 6,339 | 23,256 ▲ |
| Loans Originated | 5,044 | 15,162 |
| Approval Rate (higher is better) | 79.6% ✓ | 65.2% |
| Denial Rate (lower is better) | 3.6% ✓ | 21.0% |
| Avg Loan Amount | $278,272 | $380,938 |
| Avg Interest Rate (lower is better) | 6.786% | 6.270% ✓ |
| Avg Applicant Income | $39,000 | $35,000 |
| Applications Denied | 230 | 4,874 |
| Applications Withdrawn | 537 | 1,278 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | ALCOVA Mortgage, LLC | First Ciitizens Bank |
|---|---|---|
| Conventional | 3,810 (60.1%) | 22,512 (96.8%) |
| FHA | 1,528 (24.1%) | 606 (2.6%) |
| VA | 616 (9.7%) | 111 (0.5%) |
| USDA | 385 (6.1%) | 27 (0.1%) |
Loan Purpose Breakdown
| Purpose | ALCOVA Mortgage, LLC | First Ciitizens Bank |
|---|---|---|
| Home Purchase | 5,506 | 6,769 |
| Refinancing | 833 | 4,989 |
| Home Improvement | — | 5,732 |
| Other | — | 5,285 |
| Cash-out Refinancing | — | 481 |
Top States by Loan Volume
| State | Originated | Rank |
|---|---|---|
| Virginia | 2,396 | #16 |
| State | Originated | Rank |
|---|---|---|
| North Carolina | 7,746 | #5 |
| South Carolina | 3,727 | #3 |
Summary
- 6,339 total applications · 5,044 originated
- Approval rate: 79.6%
- Denial rate: 3.6%
- Avg loan: $278,272
- Avg rate: 6.786%
- HQ: Roanoke, VA
- 23,256 total applications · 15,162 originated
- Approval rate: 65.2%
- Denial rate: 21.0%
- Avg loan: $380,938
- Avg rate: 6.270%
- HQ: Raleigh, NC
Methodology
Comparisons are drawn from the CFPB 2024 HMDA Snapshot National Loan-Level Dataset, published by the Consumer Financial Protection Bureau and distributed via the FFIEC. Every figure on this page comes from lenders' mandatory HMDA filings — not voluntary marketing claims.
Approval (origination) rate = originated ÷ total applications. Denial rate = denied ÷ total applications. Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes. Denial rates reflect a lender's applicant mix as much as its underwriting stance; compare alongside loan-type mix and geography before drawing conclusions.
Side-by-side comparisons are informational only and do not constitute financial, legal, or mortgage advice. Always obtain and compare written Loan Estimates before applying.