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First Community Credit Union of Beloit

Beloit, WI

First Community Credit Union of Beloit processed 282 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 209 loans with a 14.5% denial rate. Home Purchase was the primary loan purpose. Based in Beloit, WI. The approval rate of 74.1% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. First Community Credit Union of Beloit's 74.1% origination rate tells you how often an application turned into funded money; the 14.5% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Credit history, Debt-to-income ratio, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (282 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.

282
Applications
209
Originated
14.5%
Denial Rate
$127,305
Avg Loan Amount
Avg Interest Rate: 6.908% Avg Applicant Income: $35,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 282 209 41 $127,305

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for First Community Credit Union of Beloit (LEI: 254900RO87UFWPI72M63) · 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 Approval rates exclude withdrawn / incomplete applications.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

Credit history
23
Debt-to-income ratio
16
Collateral
4
Employment history
2
Insufficient cash
1
Other
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 91 68 $180,055
Other 83 66 $47,771
Refinancing 57 43 $131,842
Cash-out Refinancing 48 30 $147,500
Home Improvement 3 2 $318,333

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 171 76.6% 10.5%
Black or African American * 8 75.0% 12.5%
Asian * 5 60.0% 20.0%
Joint * 4 100.0% 0.0%
American Indian or Alaska Native * 1 100.0% 0.0%

* 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 161 77.6% 9.9%
Hispanic or Latino * 18 38.9% 38.9%
Joint * 7 85.7% 14.3%

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

Nearby Lenders in WI

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

Fairway Independent Mort CORP

MADISON, WI

102,501 apps 74,401 originated 4.7% denied

Summit Credit Union

Cottage Grove, WI

15,990 apps 9,929 originated 10.9% denied

Uw Credit Union

MADISON, WI

11,177 apps 8,477 originated 12.3% denied

Associated Bank NA

Green Bay, WI

10,999 apps 6,532 originated 24.4% denied

Waterstone Mortgage Corporation

BROOKFIELD, WI

10,792 apps 7,819 originated 4.5% denied
Compare First Community Credit Union of Beloit vs Fairway Independent Mort CORP →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did First Community Credit Union of Beloit process?
First Community Credit Union of Beloit processed 282 mortgage applications in the 2024 HMDA reporting year. Of these, 209 were originated (approved and funded), 25 were withdrawn by the applicant, and 41 were denied.
What is First Community Credit Union of Beloit's mortgage approval rate?
First Community Credit Union of Beloit has an approval (origination) rate of 74.1%, meaning 74.1% of all applications resulted in a funded mortgage. The denial rate is 14.5%.
What is the average loan amount at First Community Credit Union of Beloit?
The average mortgage loan amount at First Community Credit Union of Beloit is $127,305. The average interest rate is 6.908%. The average applicant income is $35,000.
What are the most common reasons for mortgage denial at First Community Credit Union of Beloit?
The most common reasons for mortgage denial at First Community Credit Union of Beloit are: Credit history, Debt-to-income ratio, Collateral. In total, 41 applications were denied out of 282 total applications.
What types of mortgage loans does First Community Credit Union of Beloit offer?
First Community Credit Union of Beloit processes Conventional loans. The most common type is Conventional with 282 applications and an average loan amount of $127,305.
What loan purposes does First Community Credit Union of Beloit serve?
First Community Credit Union of Beloit serves the following loan purposes: Home Purchase (91 applications), Other (83 applications), Refinancing (57 applications), Cash-out Refinancing (48 applications), Home Improvement (3 applications). Home Purchase is the most common purpose.
Where is First Community Credit Union of Beloit located?
First Community Credit Union of Beloit is headquartered in Beloit, WI. The lender is identified by LEI 254900RO87UFWPI72M63 in HMDA data.
How does First Community Credit Union of Beloit compare in lending across racial demographics?
First Community Credit Union of Beloit reports demographic lending data under HMDA requirements. White applicants have an approval rate of 76.6% and denial rate of 10.5%; Black or African American applicants have an approval rate of 75.0% and denial rate of 12.5%; Asian applicants have an approval rate of 60.0% and denial rate of 20.0%. 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.