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Pen Air Credit Union

Pensacola, FL

Pen Air Credit Union processed 877 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 335 loans with a 38.4% denial rate. Other was the primary loan purpose. Based in Pensacola, FL. The approval rate of 38.2% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Pen Air Credit Union's 38.2% origination rate tells you how often an application turned into funded money; the 38.4% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Other, Debt-to-income ratio, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (862 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.

877
Applications
335
Originated
38.4%
Denial Rate
$251,625
Avg Loan Amount
Avg Interest Rate: 8.071% Avg Applicant Income: $36,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 862 327 337 $251,717
FHA 13 6 0 $251,154
VA 2 2 0 $215,000

Top loan types - Pen Air Credit Union

Top loan types - Pen Air Credit Union Horizontal bar chart of the top 3 items by value (applications). Top loan types - Pen Air Credit Union Top 3 1. Conventional 862 2. FHA 13 3. VA 2 Top 5 loan types by application volume at Pen Air 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 Pen Air Credit Union (LEI: 254900T576VYG7I55390) · 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

Other
239
Debt-to-income ratio
82
Collateral
21
Credit history
11
Employment history
7
Unverifiable information
6
Insufficient cash
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Other 312 99 $333,622
Home Improvement 311 100 $74,614
Home Purchase 135 76 $535,148
Refinancing 85 42 $151,706
Cash-out Refinancing 34 18 $242,353

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 670 39.0% 36.4%
Black or African American 67 23.9% 58.2%
Asian * 18 16.7% 50.0%
American Indian or Alaska Native * 7 42.9% 28.6%
Joint * 7 57.1% 42.9%
2 or more minority races * 4 25.0% 50.0%
Native Hawaiian or Other Pacific Islander * 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 673 38.3% 38.0%
Hispanic or Latino * 26 26.9% 61.5%
Joint * 22 27.3% 40.9%

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

Nearby Lenders in FL

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

Freedom Mortgage Corporation

BOCA RATON, FL

252,504 apps 57,345 originated 4.9% denied

Lakeview Loan Servicing, LLC

Coral Gables, FL

96,650 apps 10,540 originated 25.2% denied

Triad Financial Services, INC.

JACKSONVILLE, FL

86,581 apps 12,731 originated 55.6% denied

Lennar Mortgage, LLC

MIAMI, FL

75,233 apps 55,530 originated 12.4% denied

Phh Mortgage Corporation

West Palm Beach, FL

62,326 apps 4,770 originated 3.4% denied
Compare Pen Air Credit Union vs Freedom Mortgage Corporation →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Pen Air Credit Union process?
Pen Air Credit Union processed 877 mortgage applications in the 2024 HMDA reporting year. Of these, 335 were originated (approved and funded), 137 were withdrawn by the applicant, and 337 were denied.
What is Pen Air Credit Union's mortgage approval rate?
Pen Air Credit Union has an approval (origination) rate of 38.2%, meaning 38.2% of all applications resulted in a funded mortgage. The denial rate is 38.4%.
What is the average loan amount at Pen Air Credit Union?
The average mortgage loan amount at Pen Air Credit Union is $251,625. The average interest rate is 8.071%. The average applicant income is $36,000.
What are the most common reasons for mortgage denial at Pen Air Credit Union?
The most common reasons for mortgage denial at Pen Air Credit Union are: Other, Debt-to-income ratio, Collateral. In total, 337 applications were denied out of 877 total applications.
What types of mortgage loans does Pen Air Credit Union offer?
Pen Air Credit Union processes Conventional, FHA, VA loans. The most common type is Conventional with 862 applications and an average loan amount of $251,717.
What loan purposes does Pen Air Credit Union serve?
Pen Air Credit Union serves the following loan purposes: Other (312 applications), Home Improvement (311 applications), Home Purchase (135 applications), Refinancing (85 applications), Cash-out Refinancing (34 applications). Other is the most common purpose.
Where is Pen Air Credit Union located?
Pen Air Credit Union is headquartered in Pensacola, FL. The lender is identified by LEI 254900T576VYG7I55390 in HMDA data.
How does Pen Air Credit Union compare in lending across racial demographics?
Pen Air Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 39.0% and denial rate of 36.4%; Black or African American applicants have an approval rate of 23.9% and denial rate of 58.2%; Asian applicants have an approval rate of 16.7% and denial rate of 50.0%. 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.