PlainLender

Philadelphia Federal Credit Un

PHILADELPHIA, PA

Philadelphia Federal Credit Un processed 2,251 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 1,245 loans with a 36.3% denial rate. Home Improvement was the primary loan purpose. Based in PHILADELPHIA, PA. The approval rate of 55.3% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Philadelphia Federal Credit Un's 55.3% origination rate tells you how often an application turned into funded money; the 36.3% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Unverifiable information, Credit application incomplete, which together explain the majority of rejections. Most activity concentrated in Conventional loans (2,251 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.

2,251
Applications
1,245
Originated
36.3%
Denial Rate
$152,517
Avg Loan Amount
Avg Interest Rate: 7.308% Avg Applicant Income: $36,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 2,251 1,245 818 $152,517

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Philadelphia Federal Credit Un (LEI: 549300DYB1ZT3UOGPL20) · 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 Approval rates exclude withdrawn / incomplete applications.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
352
Unverifiable information
145
Credit application incomplete
130
Credit history
116
Collateral
57
Other
40
Insufficient cash
9
Employment history
2

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Improvement 1,006 515 $82,495
Other 536 225 $91,511
Refinancing 376 278 $329,229
Home Purchase 216 153 $319,259
Cash-out Refinancing 117 74 $158,333

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 712 61.7% 31.3%
Black or African American 706 42.5% 49.4%
Asian 59 49.1% 42.4%
Joint * 9 66.7% 22.2%
American Indian or Alaska Native * 4 50.0% 50.0%
2 or more minority races * 3 33.3% 33.3%

* 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 1,473 52.3% 40.5%
Hispanic or Latino 110 40.9% 52.7%
Joint * 19 52.6% 47.4%

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

Nearby Lenders in PA

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

Newrez LLC

FORT WASHINGTON, PA

248,242 apps 52,121 originated 11.5% denied

Pnc Bank N.A.

Pittsburgh, PA

127,108 apps 56,830 originated 25.4% denied

Spring Eq, LLC

RADNOR, PA

104,263 apps 31,186 originated 54.8% denied

Nvr Mortgage Finance, INC.

PITTSBURGH, PA

23,698 apps 17,311 originated 17.1% denied

First National Bank of PA

PITTSBURGH, PA

22,946 apps 13,057 originated 25.0% denied
Compare Philadelphia Federal Credit Un vs Newrez LLC →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Philadelphia Federal Credit Un process?
Philadelphia Federal Credit Un processed 2,251 mortgage applications in the 2024 HMDA reporting year. Of these, 1,245 were originated (approved and funded), 62 were withdrawn by the applicant, and 818 were denied.
What is Philadelphia Federal Credit Un's mortgage approval rate?
Philadelphia Federal Credit Un has an approval (origination) rate of 55.3%, meaning 55.3% of all applications resulted in a funded mortgage. The denial rate is 36.3%.
What is the average loan amount at Philadelphia Federal Credit Un?
The average mortgage loan amount at Philadelphia Federal Credit Un is $152,517. The average interest rate is 7.308%. The average applicant income is $36,000.
What are the most common reasons for mortgage denial at Philadelphia Federal Credit Un?
The most common reasons for mortgage denial at Philadelphia Federal Credit Un are: Debt-to-income ratio, Unverifiable information, Credit application incomplete. In total, 818 applications were denied out of 2,251 total applications.
What types of mortgage loans does Philadelphia Federal Credit Un offer?
Philadelphia Federal Credit Un processes Conventional loans. The most common type is Conventional with 2,251 applications and an average loan amount of $152,517.
What loan purposes does Philadelphia Federal Credit Un serve?
Philadelphia Federal Credit Un serves the following loan purposes: Home Improvement (1,006 applications), Other (536 applications), Refinancing (376 applications), Home Purchase (216 applications), Cash-out Refinancing (117 applications). Home Improvement is the most common purpose.
Where is Philadelphia Federal Credit Un located?
Philadelphia Federal Credit Un is headquartered in PHILADELPHIA, PA. The lender is identified by LEI 549300DYB1ZT3UOGPL20 in HMDA data.
How does Philadelphia Federal Credit Un compare in lending across racial demographics?
Philadelphia Federal Credit Un reports demographic lending data under HMDA requirements. White applicants have an approval rate of 61.7% and denial rate of 31.3%; Black or African American applicants have an approval rate of 42.5% and denial rate of 49.4%; Asian applicants have an approval rate of 49.1% and denial rate of 42.4%. 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.