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2024 data HMDA 2024 disclosure official source

Gratiot County

1,150 mortgage applications, 20.9% denial rate. Verify FIPS 26057 with U.S. Census Bureau →

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Michigan · FIPS 26057

Local mortgage market. Gratiot County, Michigan saw 1,150 HMDA-reported mortgage applications in 2024. Lenders originated 623 of those loans and denied 240, producing a denial rate of 20.9% and an approval (origination) rate of 54.2%. The average loan amount was $131,661 at an average note rate of 7.29%, with applicants self-reporting average annual income of $36K. 105 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 3.7x, meaning typical borrowers took on mortgages of about 3.7 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 26057 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

1,150
Applications
623
Originated
20.9%
Denial Rate
54.2%
Approval Rate
$131,661
Avg Loan Amount
7.29%
Avg Interest Rate
$36K
Avg Applicant Income
3.7x
Loan-to-Income Ratio

Nearby Lenders in Gratiot 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 Mercantile Bank 80 12.8%
2 Rocket Mortgage 58 9.3%
3 Isabella Bank 46 7.4%
4 Huntington National Bank 42 6.7%
5 Crosscountry Mortgage, LLC 30 4.8%
Compare Mercantile Bank vs Rocket Mortgage →

Frequently Asked Questions

How many mortgage applications were filed in Gratiot County?
In the 2024 HMDA reporting year, 1,150 mortgage applications were filed in Gratiot County, Michigan. Of these, 623 were originated (approved and funded), while 240 were denied, resulting in a denial rate of 20.9%.
What is the mortgage denial rate in Gratiot County?
The mortgage denial rate in Gratiot County is 20.9%. The approval (origination) rate is 54.2%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Gratiot County?
The average mortgage loan amount in Gratiot County is $131,661. The average interest rate is 7.292%. The average applicant income is $36K.
What is the loan-to-income ratio in Gratiot County?
The average loan-to-income ratio in Gratiot County is 3.7x, meaning borrowers took on loans averaging 3.7 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Gratiot County?
The top mortgage lenders in Gratiot County by origination volume are Mercantile Bank, Rocket Mortgage, Isabella Bank. In total, 105 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.