First Source mortgage approval rate & lending review
First Source decided 1,923 mortgage applications and funded 1,626 loans across the 616 counties Fat Boy Data covers, 2023–2025.
These are the decisions First Source reported under the Home Mortgage Disclosure Act, not its advertised interest rates.
First Source at a glance
Approval is 15.9 points above the 71.8% 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 | 87% | 313 / 358 | 94% | $155K | 294 |
| Home improvement loans | 87% | 831 / 950 | 97% | $55K | 805 |
| Refinance | 88% | 407 / 462 | 97% | $95K | 394 |
| Investment property purchase | 91% | 70 / 77 | 97% | $125K | 68 |
| Investment refinance | 97% | 37 / 38 | 100% | $165K | 37 |
First Source lending by state
| State | Approval | Typical loan | Decided | Loans made |
|---|---|---|---|---|
| New York | 88% | $95K | 1,923 | 1,626 |
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 First Source lends most
| County | Loan type | Approval | Decided | Loans made |
|---|---|---|---|---|
| Oneida County, NY | Home improvement loans | 87% | 930 | 787 |
| Oneida County, NY | Refinance | 88% | 456 | 389 |
| Oneida County, NY | Mortgage lenders | 87% | 346 | 283 |
| Oneida County, NY | Investment property purchase | 91% | 77 | 68 |
The county markets where First Source made the most loans. Each link opens that market with every lender ranked.
Questions about First Source
What is First Source's mortgage approval rate?
First Source approved 87.8% of the 1,923 mortgage applications it decided across the 616 counties Fat Boy Data covers, 2023–2025, 15.9 points above the 71.8% national rate for the same mix of loan types.
How often do borrowers take the loan First Source offers?
Borrowers accepted 96% of the loans First Source approved, against 93% for all home improvement loan lenders nationally. A low take-up usually means the approved terms were not competitive.
What size loans does First Source make?
The typical home improvement loan loan First Source made was $55K; across all loan types its typical loan ran from $55K to $165K. HMDA reports amounts in $10,000 brackets, so these are midpoints.
Where does First Source lend?
First Source decided applications in 1 of the states Fat Boy Data covers, most of them in New York.
Can I apply to First Source directly?
Yes. First Source is a bank or credit union with 6 branches in the FDIC and NCUA registries, and it takes mortgage applications directly.
Does this page show First Source'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 First Source treats applications, then get a rate quote from the lender.