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First Equity Mortgage INC

FT MITCHELL, KY

First Equity Mortgage INC processed 2,398 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 1,357 loans with a 9.4% denial rate. Home Purchase was the primary loan purpose. Based in FT MITCHELL, KY. The approval rate of 56.6% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness.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 Equity Mortgage INC's 56.6% origination rate tells you how often an application turned into funded money; the 9.4% 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, Employment history, which together explain the majority of rejections. Most activity concentrated in Conventional loans (1,982 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.

2,398
Applications
1,357
Originated
9.4%
Denial Rate
$525,413
Avg Loan Amount
Avg Interest Rate: 6.392% Avg Applicant Income: $37,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,982 1,184 149 $516,312
VA 251 125 25 $615,837
FHA 155 47 45 $501,065
USDA 10 1 6 $437,000

Top loan types - First Equity Mortgage INC

Top loan types - First Equity Mortgage INC Horizontal bar chart of the top 4 items by value (applications). Top loan types - First Equity Mortgage INC Top 4 1. Conventional 1,982 2. VA 251 3. FHA 155 4. USDA 10 Top 5 loan types by application volume at First Equity Mortgage INC (HMDA 2024). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for First Equity Mortgage INC (LEI: 549300X8AUU3UC1ULZ79) · 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
131
Credit history
90
Employment history
17
Other
9
Unverifiable information
7
Insufficient cash
4

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 2,390 1,349 $525,778
Refinancing 8 8 $416,250

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 1,276 62.7% 6.3%
Asian 388 54.1% 11.6%
Black or African American 203 32.5% 25.1%
Joint 72 59.7% 5.6%
American Indian or Alaska Native * 6 83.3% 0.0%
2 or more minority races * 4 75.0% 25.0%
Native Hawaiian or Other Pacific Islander * 3 100.0% 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 1,632 61.0% 8.0%
Hispanic or Latino 119 36.1% 15.1%
Joint 51 45.1% 11.8%

Nearby Lenders in KY

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

Stockton Mortgage Corporation

FRANKFORT, KY

12,011 apps 7,797 originated 6.5% denied

Liberty Federal Credit Union

Louisville, KY

6,132 apps 4,679 originated 7.9% denied

Farm Credit Mid-America, Aca

LOUISVILLE, KY

5,902 apps 4,311 originated 10.4% denied

Magnolia Bank

Elizabethtown, KY

5,338 apps 4,002 originated 7.8% denied

Republic Bank & Trust

LOUISVILLE, KY

3,866 apps 2,192 originated 13.1% denied
Compare First Equity Mortgage INC vs Stockton Mortgage Corporation →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did First Equity Mortgage INC process?
First Equity Mortgage INC processed 2,398 mortgage applications in the 2024 HMDA reporting year. Of these, 1,357 were originated (approved and funded), 816 were withdrawn by the applicant, and 225 were denied.
What is First Equity Mortgage INC's mortgage approval rate?
First Equity Mortgage INC has an approval (origination) rate of 56.6%, meaning 56.6% of all applications resulted in a funded mortgage. The denial rate is 9.4%.
What is the average loan amount at First Equity Mortgage INC?
The average mortgage loan amount at First Equity Mortgage INC is $525,413. The average interest rate is 6.392%. The average applicant income is $37,000.
What are the most common reasons for mortgage denial at First Equity Mortgage INC?
The most common reasons for mortgage denial at First Equity Mortgage INC are: Debt-to-income ratio, Credit history, Employment history. In total, 225 applications were denied out of 2,398 total applications.
What types of mortgage loans does First Equity Mortgage INC offer?
First Equity Mortgage INC processes Conventional, VA, FHA, USDA loans. The most common type is Conventional with 1,982 applications and an average loan amount of $516,312.
What loan purposes does First Equity Mortgage INC serve?
First Equity Mortgage INC serves the following loan purposes: Home Purchase (2,390 applications), Refinancing (8 applications). Home Purchase is the most common purpose.
Where is First Equity Mortgage INC located?
First Equity Mortgage INC is headquartered in FT MITCHELL, KY. The lender is identified by LEI 549300X8AUU3UC1ULZ79 in HMDA data.
How does First Equity Mortgage INC compare in lending across racial demographics?
First Equity Mortgage INC reports demographic lending data under HMDA requirements. White applicants have an approval rate of 62.7% and denial rate of 6.3%; Asian applicants have an approval rate of 54.1% and denial rate of 11.6%; Black or African American applicants have an approval rate of 32.5% and denial rate of 25.1%. 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.