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Chartway FCU

VIRGINIA BEACH, VA

Chartway FCU processed 1,930 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 1,021 loans with a 29.1% denial rate. Home Improvement was the primary loan purpose. Based in VIRGINIA BEACH, VA. The approval rate of 52.9% reflects originated loans as a share of all applications.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% - HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Chartway FCU's 52.9% origination rate tells you how often an application turned into funded money; the 29.1% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit history, Credit application incomplete, which together explain the majority of rejections. Most activity concentrated in Conventional loans (1,930 applications).

How to read this page. These figures are aggregate HMDA disclosures, they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting, it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

1,930
Applications
1,021
Originated
29.1%
Denial Rate
$144,047
Avg Loan Amount
Avg Interest Rate: 5.437% Avg Applicant Income: $35,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,930 1,021 562 $144,047

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Chartway FCU (LEI: 549300NWKILSNQAIG053) · 2024 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
297
Credit history
121
Credit application incomplete
99
Collateral
53
Unverifiable information
15
Other
15
Insufficient cash
1
Employment history
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Improvement 671 363 $80,961
Other 525 248 $91,057
Refinancing 477 270 $137,642
Home Purchase 232 122 $452,543
Cash-out Refinancing 25 18 $209,400

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 1,284 58.9% 27.8%
Black or African American 275 42.2% 41.1%
Asian 76 50.0% 35.5%
Joint 54 70.4% 18.5%
American Indian or Alaska Native * 20 45.0% 25.0%
Native Hawaiian or Other Pacific Islander * 12 33.3% 50.0%
2 or more minority races * 5 20.0% 80.0%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 1,400 56.1% 29.6%
Hispanic or Latino 287 53.0% 33.1%
Joint 59 55.9% 28.8%

Nearby Lenders in VA

Other HMDA-reporting lenders in VA with similar activity. Compare any two side-by-side.

Navy Federal Credit Union

Vienna, VA

182,680 apps 82,022 originated 23.9% denied

Prosperity Home Mortgage, LLC

CHANTILLY, VA

29,914 apps 20,115 originated 7.4% denied

Pentagon Federal Credit Unioin

Alexandria, VA

28,887 apps 10,514 originated 39.2% denied

Atlantic Bay Mortgage Group

VIRGINIA BEACH, VA

17,186 apps 13,415 originated 1.4% denied

First Heritage Mortgage, LLC

Fairfax, VA

7,733 apps 6,346 originated 1.6% denied
Compare Chartway FCU vs Navy Federal Credit Union →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Chartway FCU process?
Chartway FCU processed 1,930 mortgage applications in the 2024 HMDA reporting year. Of these, 1,021 were originated (approved and funded), 181 were withdrawn by the applicant, and 562 were denied.
What is Chartway FCU's mortgage approval rate?
Chartway FCU has an approval (origination) rate of 52.9%, meaning 52.9% of all applications resulted in a funded mortgage. The denial rate is 29.1%.
What is the average loan amount at Chartway FCU?
The average mortgage loan amount at Chartway FCU is $144,047. The average interest rate is 5.437%. The average applicant income is $35,000.
What are the most common reasons for mortgage denial at Chartway FCU?
The most common reasons for mortgage denial at Chartway FCU are: Debt-to-income ratio, Credit history, Credit application incomplete. In total, 562 applications were denied out of 1,930 total applications.
What types of mortgage loans does Chartway FCU offer?
Chartway FCU processes Conventional loans. The most common type is Conventional with 1,930 applications and an average loan amount of $144,047.
What loan purposes does Chartway FCU serve?
Chartway FCU serves the following loan purposes: Home Improvement (671 applications), Other (525 applications), Refinancing (477 applications), Home Purchase (232 applications), Cash-out Refinancing (25 applications). Home Improvement is the most common purpose.
Where is Chartway FCU located?
Chartway FCU is headquartered in VIRGINIA BEACH, VA. The lender is identified by LEI 549300NWKILSNQAIG053 in HMDA data.
How does Chartway FCU compare in lending across racial demographics?
Chartway FCU reports demographic lending data under HMDA requirements. White applicants have an approval rate of 58.9% and denial rate of 27.8%; Black or African American applicants have an approval rate of 42.2% and denial rate of 41.1%; Asian applicants have an approval rate of 50.0% and denial rate of 35.5%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology - how this data is sourced, computed, and verified.

Every figure on PlainLender is rendered directly from CFPB HMDA federal source data, no number is typed in by an editor. This page draws directly on CFPB HMDA federal source data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.