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On Q Financial, LLC

Scottsdale, AZ

On Q Financial, LLC processed 1,690 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 1,075 loans with a 4.7% denial rate. Home Purchase was the primary loan purpose. Based in Scottsdale, AZ. The approval rate of 63.6% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. On Q Financial, LLC's 63.6% origination rate tells you how often an application turned into funded money; the 4.7% 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, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (1,088 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.

1,690
Applications
1,075
Originated
4.7%
Denial Rate
$383,101
Avg Loan Amount
Avg Interest Rate: 6.734% Avg Applicant Income: $39,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,088 691 29 $409,173
FHA 444 290 39 $315,203
VA 144 86 9 $410,417
USDA 14 8 2 $229,286

Top loan types - On Q Financial, LLC

Top loan types - On Q Financial, LLC Horizontal bar chart of the top 4 items by value (applications). Top loan types - On Q Financial, LLC Top 4 1. Conventional 1,088 2. FHA 444 3. VA 144 4. USDA 14 Top 5 loan types by application volume at On Q Financial, LLC (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 On Q Financial, LLC (LEI: 549300SVKVT1EF3U0N48) · 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
24
Credit history
24
Collateral
14
Insufficient cash
11
Other
7
Credit application incomplete
4
Unverifiable information
3
Employment history
3

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 1,451 983 $388,529
Cash-out Refinancing 136 54 $327,941
Refinancing 103 38 $379,466

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 1,122 66.3% 4.7%
Asian 78 44.9% 5.1%
Black or African American 59 61.0% 11.9%
Joint 50 64.0% 2.0%
American Indian or Alaska Native * 11 63.6% 0.0%
2 or more minority races * 4 50.0% 0.0%
Native Hawaiian or Other Pacific Islander * 3 66.7% 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 1,131 64.9% 4.0%
Hispanic or Latino 141 53.2% 8.5%
Joint 62 71.0% 1.6%

Nearby Lenders in AZ

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

The Loan Store, Inc

Tucson, AZ

37,522 apps 23,548 originated 12.7% denied

Desert Financial Credit Union

Phoenix, AZ

14,881 apps 8,747 originated 30.3% denied

V.I.P. Mortgage, INC.

SCOTTSDALE, AZ

10,272 apps 6,989 originated 2.0% denied

Geneva Financial LLC

Chandler, AZ

9,015 apps 5,938 originated 2.7% denied

Nova Financial & Investment Corporation

Tucson, AZ

6,917 apps 4,748 originated 5.3% denied
Compare On Q Financial, LLC vs The Loan Store, Inc →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did On Q Financial, LLC process?
On Q Financial, LLC processed 1,690 mortgage applications in the 2024 HMDA reporting year. Of these, 1,075 were originated (approved and funded), 405 were withdrawn by the applicant, and 79 were denied.
What is On Q Financial, LLC's mortgage approval rate?
On Q Financial, LLC has an approval (origination) rate of 63.6%, meaning 63.6% of all applications resulted in a funded mortgage. The denial rate is 4.7%.
What is the average loan amount at On Q Financial, LLC?
The average mortgage loan amount at On Q Financial, LLC is $383,101. The average interest rate is 6.734%. The average applicant income is $39,000.
What are the most common reasons for mortgage denial at On Q Financial, LLC?
The most common reasons for mortgage denial at On Q Financial, LLC are: Debt-to-income ratio, Credit history, Collateral. In total, 79 applications were denied out of 1,690 total applications.
What types of mortgage loans does On Q Financial, LLC offer?
On Q Financial, LLC processes Conventional, FHA, VA, USDA loans. The most common type is Conventional with 1,088 applications and an average loan amount of $409,173.
What loan purposes does On Q Financial, LLC serve?
On Q Financial, LLC serves the following loan purposes: Home Purchase (1,451 applications), Cash-out Refinancing (136 applications), Refinancing (103 applications). Home Purchase is the most common purpose.
Where is On Q Financial, LLC located?
On Q Financial, LLC is headquartered in Scottsdale, AZ. The lender is identified by LEI 549300SVKVT1EF3U0N48 in HMDA data.
How does On Q Financial, LLC compare in lending across racial demographics?
On Q Financial, LLC reports demographic lending data under HMDA requirements. White applicants have an approval rate of 66.3% and denial rate of 4.7%; Asian applicants have an approval rate of 44.9% and denial rate of 5.1%; Black or African American applicants have an approval rate of 61.0% and denial rate of 11.9%. 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.