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2024 data HMDA 2024 disclosure official source

Carlton County

1,307 mortgage applications, 13.4% denial rate. Verify FIPS 27017 with U.S. Census Bureau →

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Minnesota · FIPS 27017

Local mortgage market. Carlton County, Minnesota saw 1,307 HMDA-reported mortgage applications in 2024. Lenders originated 783 of those loans and denied 175, producing a denial rate of 13.4% and an approval (origination) rate of 59.9%. The average loan amount was $195,635 at an average note rate of 7.38%, with applicants self-reporting average annual income of $36K. 95 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 5.4x, meaning typical borrowers took on mortgages of about 5.4 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 27017 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

1,307
Applications
783
Originated
13.4%
Denial Rate
59.9%
Approval Rate
$195,635
Avg Loan Amount
7.38%
Avg Interest Rate
$36K
Avg Applicant Income
5.4x
Loan-to-Income Ratio

Nearby Lenders in Carlton 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 Members Cooperative Credit Union 99 12.6%
2 Northwoods Credit Union 58 7.4%
3 North Shore Bank of Commerce 56 7.2%
4 Frandsen Bank & Trust 43 5.5%
5 Rocket Mortgage 39 5.0%
Compare Members Cooperative Credit Union vs Northwoods Credit Union →

Frequently Asked Questions

How many mortgage applications were filed in Carlton County?
In the 2024 HMDA reporting year, 1,307 mortgage applications were filed in Carlton County, Minnesota. Of these, 783 were originated (approved and funded), while 175 were denied, resulting in a denial rate of 13.4%.
What is the mortgage denial rate in Carlton County?
The mortgage denial rate in Carlton County is 13.4%. The approval (origination) rate is 59.9%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Carlton County?
The average mortgage loan amount in Carlton County is $195,635. The average interest rate is 7.380%. The average applicant income is $36K.
What is the loan-to-income ratio in Carlton County?
The average loan-to-income ratio in Carlton County is 5.4x, meaning borrowers took on loans averaging 5.4 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Carlton County?
The top mortgage lenders in Carlton County by origination volume are Members Cooperative Credit Union, Northwoods Credit Union, North Shore Bank of Commerce. In total, 95 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.