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Navy Federal Credit Union

Vienna, VA

Navy Federal Credit Union processed 182,680 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 82,022 loans with a 23.9% denial rate. Home Purchase was the primary loan purpose. Based in Vienna, VA. The approval rate of 44.9% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Navy Federal Credit Union's 44.9% origination rate tells you how often an application turned into funded money; the 23.9% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Other, Credit history, which together explain the majority of rejections. Most activity concentrated in Conventional loans (148,026 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.

182,680
Applications
82,022
Originated
23.9%
Denial Rate
$213,031
Avg Loan Amount
Avg Interest Rate: 8.056% Avg Applicant Income: $40,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 148,026 64,929 39,588 $172,088
VA 34,552 17,093 4,166 $388,544
FHA 102 0 0 $176,275

Top loan types - Navy Federal Credit Union

Top loan types - Navy Federal Credit Union Horizontal bar chart of the top 3 items by value (applications). Top loan types - Navy Federal Credit Union Top 3 1. Conventional 148,026 2. VA 34,552 3. FHA 102 Top 5 loan types by application volume at Navy Federal Credit Union (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 Navy Federal Credit Union (LEI: 5493003GQDUH26DNNH17) · 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
26,470
Other
13,291
Credit history
12,659
Credit application incomplete
4,171
Collateral
3,675
Unverifiable information
2,942
Employment history
2,016
Insufficient cash
646

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 59,289 30,541 $374,878
Other 51,129 21,021 $97,961
Home Improvement 45,843 20,825 $95,380
Cash-out Refinancing 18,051 7,325 $242,051
Refinancing 8,215 2,310 $354,787

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 96,446 50.7% 19.7%
Black or African American 37,230 35.4% 33.1%
Asian 9,100 41.0% 24.5%
Joint 7,739 49.0% 22.2%
American Indian or Alaska Native 2,212 38.0% 29.5%
2 or more minority races 1,465 35.8% 34.8%
Native Hawaiian or Other Pacific Islander 916 36.2% 29.7%

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 131,096 46.8% 23.1%
Hispanic or Latino 20,968 39.2% 28.5%
Joint 8,338 46.9% 23.9%

Nearby Lenders in VA

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

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

TowneBank

Portsmouth, VA

6,506 apps 5,063 originated 5.2% denied
Compare Navy Federal Credit Union vs Prosperity Home Mortgage, LLC →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Navy Federal Credit Union process?
Navy Federal Credit Union processed 182,680 mortgage applications in the 2024 HMDA reporting year. Of these, 82,022 were originated (approved and funded), 43,374 were withdrawn by the applicant, and 43,754 were denied.
What is Navy Federal Credit Union's mortgage approval rate?
Navy Federal Credit Union has an approval (origination) rate of 44.9%, meaning 44.9% of all applications resulted in a funded mortgage. The denial rate is 23.9%.
What is the average loan amount at Navy Federal Credit Union?
The average mortgage loan amount at Navy Federal Credit Union is $213,031. The average interest rate is 8.056%. The average applicant income is $40,000.
What are the most common reasons for mortgage denial at Navy Federal Credit Union?
The most common reasons for mortgage denial at Navy Federal Credit Union are: Debt-to-income ratio, Other, Credit history. In total, 43,754 applications were denied out of 182,680 total applications.
What types of mortgage loans does Navy Federal Credit Union offer?
Navy Federal Credit Union processes Conventional, VA, FHA loans. The most common type is Conventional with 148,026 applications and an average loan amount of $172,088.
What loan purposes does Navy Federal Credit Union serve?
Navy Federal Credit Union serves the following loan purposes: Home Purchase (59,289 applications), Other (51,129 applications), Home Improvement (45,843 applications), Cash-out Refinancing (18,051 applications), Refinancing (8,215 applications). Home Purchase is the most common purpose.
Where is Navy Federal Credit Union located?
Navy Federal Credit Union is headquartered in Vienna, VA. The lender is identified by LEI 5493003GQDUH26DNNH17 in HMDA data.
How does Navy Federal Credit Union compare in lending across racial demographics?
Navy Federal Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 50.7% and denial rate of 19.7%; Black or African American applicants have an approval rate of 35.4% and denial rate of 33.1%; Asian applicants have an approval rate of 41.0% and denial rate of 24.5%. 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.