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State Departmenet Federal Credit Union

ALEXANDRIA, VA

State Departmenet Federal Credit Union processed 1,554 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 837 loans with a 26.4% denial rate. Home Improvement was the primary loan purpose. Based in ALEXANDRIA, VA. The approval rate of 53.9% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. State Departmenet Federal Credit Union's 53.9% origination rate tells you how often an application turned into funded money; the 26.4% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Other, Credit history, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (1,554 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.

1,554
Applications
837
Originated
26.4%
Denial Rate
$200,283
Avg Loan Amount
Avg Interest Rate: 7.724% Avg Applicant Income: $38,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,554 837 410 $200,283

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for State Departmenet Federal Credit Union (LEI: 254900EZRN0CBEP77K34) · 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 Approval rates exclude withdrawn / incomplete applications.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
133
Credit history
121
Collateral
112
Debt-to-income ratio
105
Unverifiable information
15
Employment history
13
Insufficient cash
3
Mortgage insurance denied
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Improvement 887 504 $185,056
Other 420 177 $137,786
Home Purchase 152 112 $413,816
Refinancing 78 36 $235,769
Cash-out Refinancing 17 8 $466,765

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 769 58.5% 23.1%
Black or African American 258 42.6% 38.0%
Asian 99 48.5% 32.3%
Joint 61 63.9% 18.0%
2 or more minority races * 11 45.5% 36.4%
American Indian or Alaska Native * 7 71.4% 28.6%
Native Hawaiian or Other Pacific Islander * 2 100.0% 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 1,061 56.3% 25.2%
Hispanic or Latino 119 49.6% 32.8%
Joint * 45 53.3% 33.3%

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

Nearby Lenders in VA

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

Navy Federal Credit Union

Vienna, VA

182,680 apps 82,022 originated 23.9% denied

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
Compare State Departmenet Federal Credit Union vs Navy Federal Credit Union →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did State Departmenet Federal Credit Union process?
State Departmenet Federal Credit Union processed 1,554 mortgage applications in the 2024 HMDA reporting year. Of these, 837 were originated (approved and funded), 116 were withdrawn by the applicant, and 410 were denied.
What is State Departmenet Federal Credit Union's mortgage approval rate?
State Departmenet Federal Credit Union has an approval (origination) rate of 53.9%, meaning 53.9% of all applications resulted in a funded mortgage. The denial rate is 26.4%.
What is the average loan amount at State Departmenet Federal Credit Union?
The average mortgage loan amount at State Departmenet Federal Credit Union is $200,283. The average interest rate is 7.724%. The average applicant income is $38,000.
What are the most common reasons for mortgage denial at State Departmenet Federal Credit Union?
The most common reasons for mortgage denial at State Departmenet Federal Credit Union are: Other, Credit history, Collateral. In total, 410 applications were denied out of 1,554 total applications.
What types of mortgage loans does State Departmenet Federal Credit Union offer?
State Departmenet Federal Credit Union processes Conventional loans. The most common type is Conventional with 1,554 applications and an average loan amount of $200,283.
What loan purposes does State Departmenet Federal Credit Union serve?
State Departmenet Federal Credit Union serves the following loan purposes: Home Improvement (887 applications), Other (420 applications), Home Purchase (152 applications), Refinancing (78 applications), Cash-out Refinancing (17 applications). Home Improvement is the most common purpose.
Where is State Departmenet Federal Credit Union located?
State Departmenet Federal Credit Union is headquartered in ALEXANDRIA, VA. The lender is identified by LEI 254900EZRN0CBEP77K34 in HMDA data.
How does State Departmenet Federal Credit Union compare in lending across racial demographics?
State Departmenet Federal Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 58.5% and denial rate of 23.1%; Black or African American applicants have an approval rate of 42.6% and denial rate of 38.0%; Asian applicants have an approval rate of 48.5% and denial rate of 32.3%. 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.