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2024 data HMDA 2024 disclosure official source

Madison County

21,479 mortgage applications, 13.7% denial rate. Verify FIPS 01089 with U.S. Census Bureau →

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Alabama · FIPS 01089

Local mortgage market. Madison County, Alabama saw 21,479 HMDA-reported mortgage applications in 2024. Lenders originated 11,578 of those loans and denied 2,945, producing a denial rate of 13.7% and an approval (origination) rate of 53.9%. The average loan amount was $266,537 at an average note rate of 6.97%, with applicants self-reporting average annual income of $36K. 394 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 7.4x, meaning typical borrowers took on mortgages of about 7.4 times their annual income. That ratio is a rough affordability signal: higher multiples imply tighter monthly budgets and greater exposure to rate or income shocks. See our methodology for how to read the denial rate against a local applicant pool.

FIPS 01089 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

21,479
Applications
11,578
Originated
13.7%
Denial Rate
53.9%
Approval Rate
$266,537
Avg Loan Amount
6.97%
Avg Interest Rate
$36K
Avg Applicant Income
7.4x
Loan-to-Income Ratio

Nearby Lenders in Madison County

Top HMDA-reporting lenders active in this county. Compare any two side-by-side for rates, denial rates, and loan mix.

# Lender Originated Market Share
1 Redstone Federal Credit Union 1,555 13.4%
2 United Wholesale Mortgage 668 5.8%
3 Rocket Mortgage 585 5.1%
4 Regions Bank 435 3.8%
5 FIRSTBANK 401 3.5%
Compare Redstone Federal Credit Union vs United Wholesale Mortgage →

Frequently Asked Questions

How many mortgage applications were filed in Madison County?
In the 2024 HMDA reporting year, 21,479 mortgage applications were filed in Madison County, Alabama. Of these, 11,578 were originated (approved and funded), while 2,945 were denied, resulting in a denial rate of 13.7%.
What is the mortgage denial rate in Madison County?
The mortgage denial rate in Madison County is 13.7%. The approval (origination) rate is 53.9%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Madison County?
The average mortgage loan amount in Madison County is $266,537. The average interest rate is 6.966%. The average applicant income is $36K.
What is the loan-to-income ratio in Madison County?
The average loan-to-income ratio in Madison County is 7.4x, meaning borrowers took on loans averaging 7.4 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Madison County?
The top mortgage lenders in Madison County by origination volume are Redstone Federal Credit Union, United Wholesale Mortgage, Rocket Mortgage. In total, 394 lenders reported mortgage activity in this county.
Where does this mortgage data come from?
This data comes from the CFPB HMDA 2024 Snapshot National Loan-Level Dataset, a mandatory federal disclosure dataset covering all mortgage applications filed with HMDA-reporting institutions. County boundaries are identified by FIPS codes.

Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024. County FIPS codes per U.S. Census Bureau standards.

Data from FFIEC / CFPB HMDA Snapshot National Loan-Level Dataset (2024). 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.