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2024 data HMDA 2024 disclosure official source

Madison County

746 mortgage applications, 13.3% denial rate. Verify FIPS 19121 with U.S. Census Bureau →

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Iowa · FIPS 19121

Local mortgage market. Madison County, Iowa saw 746 HMDA-reported mortgage applications in 2024. Lenders originated 454 of those loans and denied 99, producing a denial rate of 13.3% and an approval (origination) rate of 60.9%. The average loan amount was $221,662 at an average note rate of 6.83%, with applicants self-reporting average annual income of $37K. 97 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 6.0x, meaning typical borrowers took on mortgages of about 6.0 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 19121 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

746
Applications
454
Originated
13.3%
Denial Rate
60.9%
Approval Rate
$221,662
Avg Loan Amount
6.83%
Avg Interest Rate
$37K
Avg Applicant Income
6.0x
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 Farmers & Merchants State Bank 38 8.4%
2 American State Bank 32 7.0%
3 Veridian Credit Union 32 7.0%
4 Greenstate Credit Union 32 7.0%
5 Union State Bank 24 5.3%
Compare Farmers & Merchants State Bank vs American State Bank →

Frequently Asked Questions

How many mortgage applications were filed in Madison County?
In the 2024 HMDA reporting year, 746 mortgage applications were filed in Madison County, Iowa. Of these, 454 were originated (approved and funded), while 99 were denied, resulting in a denial rate of 13.3%.
What is the mortgage denial rate in Madison County?
The mortgage denial rate in Madison County is 13.3%. The approval (origination) rate is 60.9%, 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 $221,662. The average interest rate is 6.835%. The average applicant income is $37K.
What is the loan-to-income ratio in Madison County?
The average loan-to-income ratio in Madison County is 6.0x, meaning borrowers took on loans averaging 6.0 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 Farmers & Merchants State Bank, American State Bank, Veridian Credit Union. In total, 97 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.