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FedChoice Federal Credit Union

Lanham, MD

FedChoice Federal Credit Union processed 244 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 132 loans with a 30.3% denial rate. Home Improvement was the primary loan purpose. Based in Lanham, MD. The approval rate of 54.1% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. FedChoice Federal Credit Union's 54.1% origination rate tells you how often an application turned into funded money; the 30.3% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Other, Debt-to-income ratio, Credit history, which together explain the majority of rejections. Most activity concentrated in Conventional loans (244 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.

244
Applications
132
Originated
30.3%
Denial Rate
$111,311
Avg Loan Amount
Avg Interest Rate: 5.002% Avg Applicant Income: $38,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 244 132 74 $111,311

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for FedChoice Federal Credit Union (LEI: 549300AN5V81GRYDJ823) · 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 Approval rates exclude withdrawn / incomplete applications.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

Other
58
Debt-to-income ratio
43
Credit history
30
Collateral
15

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Improvement 112 57 $102,232
Other 91 55 $85,769
Refinancing 32 16 $199,063
Cash-out Refinancing 6 2 $126,667
Home Purchase 3 2 $258,333

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
Black or African American 132 50.0% 38.6%
White 61 63.9% 18.0%
Asian * 6 50.0% 33.3%
Joint * 3 100.0% 0.0%
2 or more minority races * 2 0.0% 100.0%
American Indian or Alaska Native * 1 0.0% 100.0%

* 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 186 55.4% 31.2%
Hispanic or Latino * 17 47.1% 35.3%
Joint * 4 100.0% 0.0%

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

Nearby Lenders in MD

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

Lower, LLC

COLUMBIA, MD

27,730 apps 17,412 originated 9.4% denied

Nfm, INC

LINTHICUM, MD

22,075 apps 17,246 originated 1.9% denied

First Home Mortgage

Baltimore, MD

7,187 apps 5,538 originated 2.8% denied

Tower Federal Credit Union

LAUREL, MD

6,022 apps 3,449 originated 31.0% denied

State Employees Credit Union of Maryland

Linthicum, MD

5,814 apps 2,602 originated 42.7% denied
Compare FedChoice Federal Credit Union vs Lower, LLC →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did FedChoice Federal Credit Union process?
FedChoice Federal Credit Union processed 244 mortgage applications in the 2024 HMDA reporting year. Of these, 132 were originated (approved and funded), 24 were withdrawn by the applicant, and 74 were denied.
What is FedChoice Federal Credit Union's mortgage approval rate?
FedChoice Federal Credit Union has an approval (origination) rate of 54.1%, meaning 54.1% of all applications resulted in a funded mortgage. The denial rate is 30.3%.
What is the average loan amount at FedChoice Federal Credit Union?
The average mortgage loan amount at FedChoice Federal Credit Union is $111,311. The average interest rate is 5.002%. The average applicant income is $38,000.
What are the most common reasons for mortgage denial at FedChoice Federal Credit Union?
The most common reasons for mortgage denial at FedChoice Federal Credit Union are: Other, Debt-to-income ratio, Credit history. In total, 74 applications were denied out of 244 total applications.
What types of mortgage loans does FedChoice Federal Credit Union offer?
FedChoice Federal Credit Union processes Conventional loans. The most common type is Conventional with 244 applications and an average loan amount of $111,311.
What loan purposes does FedChoice Federal Credit Union serve?
FedChoice Federal Credit Union serves the following loan purposes: Home Improvement (112 applications), Other (91 applications), Refinancing (32 applications), Cash-out Refinancing (6 applications), Home Purchase (3 applications). Home Improvement is the most common purpose.
Where is FedChoice Federal Credit Union located?
FedChoice Federal Credit Union is headquartered in Lanham, MD. The lender is identified by LEI 549300AN5V81GRYDJ823 in HMDA data.
How does FedChoice Federal Credit Union compare in lending across racial demographics?
FedChoice Federal Credit Union reports demographic lending data under HMDA requirements. Black or African American applicants have an approval rate of 50.0% and denial rate of 38.6%; White applicants have an approval rate of 63.9% and denial rate of 18.0%; Asian applicants have an approval rate of 50.0% and denial rate of 33.3%. 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.