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2024 data HMDA 2024 disclosure official source

Garrett County

1,095 mortgage applications, 14.8% denial rate. Verify FIPS 24023 with U.S. Census Bureau →

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Maryland · FIPS 24023

Local mortgage market. Garrett County, Maryland saw 1,095 HMDA-reported mortgage applications in 2024. Lenders originated 616 of those loans and denied 162, producing a denial rate of 14.8% and an approval (origination) rate of 56.3%. The average loan amount was $332,078 at an average note rate of 7.18%, with applicants self-reporting average annual income of $36K. 152 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 9.2x, meaning typical borrowers took on mortgages of about 9.2 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 24023 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

1,095
Applications
616
Originated
14.8%
Denial Rate
56.3%
Approval Rate
$332,078
Avg Loan Amount
7.18%
Avg Interest Rate
$36K
Avg Applicant Income
9.2x
Loan-to-Income Ratio

Nearby Lenders in Garrett 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 First United Bank & Trust 49 8.0%
2 Millennium Financial Group INC Dba Mlend 46 7.5%
3 Rocket Mortgage 41 6.7%
4 Middletown Valley Bank 35 5.7%
5 Truist Bank 34 5.5%
Compare First United Bank & Trust vs Millennium Financial Group INC Dba Mlend →

Frequently Asked Questions

How many mortgage applications were filed in Garrett County?
In the 2024 HMDA reporting year, 1,095 mortgage applications were filed in Garrett County, Maryland. Of these, 616 were originated (approved and funded), while 162 were denied, resulting in a denial rate of 14.8%.
What is the mortgage denial rate in Garrett County?
The mortgage denial rate in Garrett County is 14.8%. The approval (origination) rate is 56.3%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Garrett County?
The average mortgage loan amount in Garrett County is $332,078. The average interest rate is 7.179%. The average applicant income is $36K.
What is the loan-to-income ratio in Garrett County?
The average loan-to-income ratio in Garrett County is 9.2x, meaning borrowers took on loans averaging 9.2 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Garrett County?
The top mortgage lenders in Garrett County by origination volume are First United Bank & Trust, Millennium Financial Group INC Dba Mlend, Rocket Mortgage. In total, 152 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.