Better Banks mortgage approval rate & lending review
Better Banks decided 389 mortgage applications and funded 345 loans across the 616 counties Fat Boy Data covers, 2023–2025.
These are the decisions Better Banks reported under the Home Mortgage Disclosure Act, not its advertised interest rates.
Better Banks at a glance
Approval is 15.2 points above the 81.2% national rate for the same mix of loan types.
Approval rates by loan type
| Loan type | Approval | Approved | Taken up | Typical loan | Loans made |
|---|---|---|---|---|---|
| Mortgage lenders | 95% | 189 / 199 | 92% | $135K | 174 |
| Cash-out refinance | 97% | 58 / 60 | 97% | $65K | 56 |
| Investment property purchase | 100% | 53 / 53 | 92% | $75K | 49 |
| Investment cash-out refinance | 100% | 28 / 28 | 79% | $105K | 22 |
Better Banks lending by state
| State | Approval | Typical loan | Decided | Loans made |
|---|---|---|---|---|
| Illinois | 97% | $135K | 375 | 334 |
Fat Boy Data covers 616 counties, 79.6% of the US population, not every county in every state. States with fewer than 20 decisions are not listed.Methodology.
Where Better Banks lends most
| County | Loan type | Approval | Decided | Loans made |
|---|---|---|---|---|
| Peoria County, IL | Mortgage lenders | 95% | 102 | 88 |
| Tazewell County, IL | Mortgage lenders | 96% | 83 | 76 |
| Peoria County, IL | Cash-out refinance | 96% | 46 | 43 |
| Peoria County, IL | Investment property purchase | 100% | 31 | 28 |
| Peoria County, IL | Investment cash-out refinance | 100% | 20 | 15 |
The county markets where Better Banks made the most loans. Each link opens that market with every lender ranked.
Questions about Better Banks
What is Better Banks's mortgage approval rate?
Better Banks approved 96.4% of the 389 mortgage applications it decided across the 616 counties Fat Boy Data covers, 2023–2025, 15.2 points above the 81.2% national rate for the same mix of loan types.
How often do borrowers take the loan Better Banks offers?
Borrowers accepted 92% of the loans Better Banks approved, against 96% for all home purchase mortgage lenders nationally. A low take-up usually means the approved terms were not competitive.
What size loans does Better Banks make?
The typical home purchase mortgage loan Better Banks made was $135K; across all loan types its typical loan ran from $65K to $135K. HMDA reports amounts in $10,000 brackets, so these are midpoints.
Where does Better Banks lend?
Better Banks decided applications in 8 of the states Fat Boy Data covers, most of them in Illinois, Florida and Colorado.
Can I apply to Better Banks directly?
Yes. Better Banks is a bank or credit union with 9 branches in the FDIC and NCUA registries, and it takes mortgage applications directly.
Does this page show Better Banks's interest rates?
No. HMDA filings record who applied, who was approved and how much was borrowed, not the rate offered. Use the approval rate and take-up here to judge how Better Banks treats applications, then get a rate quote from the lender.