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Lafayette Federal Credit Union

ROCKVILLE, MD

Lafayette Federal Credit Union processed 1,156 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 643 loans with a 19.8% denial rate. Other was the primary loan purpose. Based in ROCKVILLE, MD. The approval rate of 55.6% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Lafayette Federal Credit Union's 55.6% origination rate tells you how often an application turned into funded money; the 19.8% 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 (1,156 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.

1,156
Applications
643
Originated
19.8%
Denial Rate
$266,029
Avg Loan Amount
Avg Interest Rate: 8.719% Avg Applicant Income: $39,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,156 643 229 $266,029

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Lafayette Federal Credit Union (LEI: 549300SY0ZRUCS4CSY07) · 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 Approval rates exclude withdrawn / incomplete applications.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
71
Debt-to-income ratio
65
Collateral
38
Other
21
Unverifiable information
19
Credit application incomplete
17

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Other 786 495 $202,532
Home Purchase 342 136 $404,561
Refinancing 16 4 $473,750
Home Improvement 7 4 $173,571
Cash-out Refinancing 5 4 $237,000

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 653 62.2% 18.2%
Black or African American 166 45.2% 20.5%
Asian 83 55.4% 20.5%
Joint * 25 36.0% 24.0%
2 or more minority races * 8 25.0% 37.5%
American Indian or Alaska Native * 3 33.3% 33.3%
Native Hawaiian or Other Pacific Islander * 2 0.0% 50.0%

* 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 718 59.2% 18.0%
Hispanic or Latino 150 50.7% 28.7%
Joint 56 53.6% 19.6%

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 Lafayette Federal Credit Union vs Lower, LLC →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Lafayette Federal Credit Union process?
Lafayette Federal Credit Union processed 1,156 mortgage applications in the 2024 HMDA reporting year. Of these, 643 were originated (approved and funded), 131 were withdrawn by the applicant, and 229 were denied.
What is Lafayette Federal Credit Union's mortgage approval rate?
Lafayette Federal Credit Union has an approval (origination) rate of 55.6%, meaning 55.6% of all applications resulted in a funded mortgage. The denial rate is 19.8%.
What is the average loan amount at Lafayette Federal Credit Union?
The average mortgage loan amount at Lafayette Federal Credit Union is $266,029. The average interest rate is 8.719%. The average applicant income is $39,000.
What are the most common reasons for mortgage denial at Lafayette Federal Credit Union?
The most common reasons for mortgage denial at Lafayette Federal Credit Union are: Credit history, Debt-to-income ratio, Collateral. In total, 229 applications were denied out of 1,156 total applications.
What types of mortgage loans does Lafayette Federal Credit Union offer?
Lafayette Federal Credit Union processes Conventional loans. The most common type is Conventional with 1,156 applications and an average loan amount of $266,029.
What loan purposes does Lafayette Federal Credit Union serve?
Lafayette Federal Credit Union serves the following loan purposes: Other (786 applications), Home Purchase (342 applications), Refinancing (16 applications), Home Improvement (7 applications), Cash-out Refinancing (5 applications). Other is the most common purpose.
Where is Lafayette Federal Credit Union located?
Lafayette Federal Credit Union is headquartered in ROCKVILLE, MD. The lender is identified by LEI 549300SY0ZRUCS4CSY07 in HMDA data.
How does Lafayette Federal Credit Union compare in lending across racial demographics?
Lafayette Federal Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 62.2% and denial rate of 18.2%; Black or African American applicants have an approval rate of 45.2% and denial rate of 20.5%; Asian applicants have an approval rate of 55.4% and denial rate of 20.5%. 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.