TOWER Federal Credit Union mortgage approval rate & lending review
TOWER Federal Credit Union decided 11,204 mortgage applications and funded 7,549 loans across the 616 counties Fat Boy Data covers, 2023–2025.
These are the decisions TOWER Federal Credit Union reported under the Home Mortgage Disclosure Act, not its advertised interest rates.
TOWER Federal Credit Union at a glance
Approval is 0.4 points above the 68.5% 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 | 72% | 1,291 / 1,804 | 95% | $245K | 1,232 |
| Home improvement loans | 68% | 4,310 / 6,355 | 98% | $105K | 4,240 |
| Cash-out refinance | 71% | 1,813 / 2,568 | 98% | $165K | 1,780 |
| Refinance | 70% | 113 / 162 | 97% | $445K | 110 |
| Investment property purchase | 77% | 132 / 171 | 98% | $135K | 129 |
| Investment cash-out refinance | 32% | 12 / 37 | 100% | $195K | 12 |
| Investment home improvement | 43% | 44 / 102 | 100% | $145K | 44 |
TOWER Federal Credit Union lending by state
| State | Approval | Typical loan | Decided | Loans made |
|---|---|---|---|---|
| Maryland | 69% | $85K | 5,076 | 3,453 |
| Virginia | 72% | $155K | 1,894 | 1,326 |
| New Jersey | 67% | $155K | 734 | 484 |
| Pennsylvania | 68% | $105K | 657 | 432 |
| Florida | 64% | $125K | 402 | 248 |
| North Carolina | 71% | $195K | 379 | 259 |
| South Carolina | 71% | $115K | 272 | 190 |
| District of Columbia | 65% | $155K | 266 | 169 |
| Delaware | 77% | $135K | 231 | 174 |
| Illinois | 67% | $125K | 211 | 136 |
| Georgia | 68% | $105K | 194 | 130 |
| California | 60% | $155K | 182 | 109 |
| New York | 47% | $175K | 90 | 42 |
| Colorado | 64% | $155K | 76 | 49 |
| Massachusetts | 67% | $165K | 64 | 42 |
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 TOWER Federal Credit Union lends most
| County | Loan type | Approval | Decided | Loans made |
|---|---|---|---|---|
| Anne Arundel County, MD | Home improvement loans | 70% | 1,030 | 716 |
| Anne Arundel County, MD | Cash-out refinance | 78% | 423 | 327 |
| Howard County, MD | Home improvement loans | 71% | 433 | 302 |
| Montgomery County, MD | Home improvement loans | 71% | 387 | 270 |
| Fairfax County, VA | Home improvement loans | 77% | 355 | 265 |
| Anne Arundel County, MD | Mortgage lenders | 72% | 249 | 175 |
| Carroll County, MD | Home improvement loans | 73% | 242 | 175 |
| Loudoun County, VA | Home improvement loans | 70% | 203 | 140 |
| Howard County, MD | Cash-out refinance | 74% | 182 | 132 |
| Prince George's County, MD | Home improvement loans | 51% | 260 | 129 |
| Frederick County, MD | Home improvement loans | 76% | 151 | 113 |
| Montgomery County, MD | Cash-out refinance | 67% | 171 | 109 |
The county markets where TOWER Federal Credit Union made the most loans. Each link opens that market with every lender ranked.
Questions about TOWER Federal Credit Union
What is TOWER Federal Credit Union's mortgage approval rate?
TOWER Federal Credit Union approved 68.9% of the 11,204 mortgage applications it decided across the 616 counties Fat Boy Data covers, 2023–2025, 0.4 points above the 68.5% national rate for the same mix of loan types.
How often do borrowers take the loan TOWER Federal Credit Union offers?
Borrowers accepted 98% of the loans TOWER Federal Credit Union 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 TOWER Federal Credit Union make?
The typical home improvement loan loan TOWER Federal Credit Union made was $105K; across all loan types its typical loan ran from $105K to $445K. HMDA reports amounts in $10,000 brackets, so these are midpoints.
Where does TOWER Federal Credit Union lend?
TOWER Federal Credit Union decided applications in 46 of the states Fat Boy Data covers, most of them in Maryland, Virginia and New Jersey.
Can I apply to TOWER Federal Credit Union directly?
Yes. TOWER Federal Credit Union is a bank or credit union with 16 branches in the FDIC and NCUA registries, and it takes mortgage applications directly.
Does this page show TOWER Federal Credit Union'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 TOWER Federal Credit Union treats applications, then get a rate quote from the lender.