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2024 data HMDA 2024 disclosure official source

Faribault County

319 mortgage applications, 12.5% denial rate. Verify FIPS 27043 with U.S. Census Bureau →

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Minnesota · FIPS 27043

Local mortgage market. Faribault County, Minnesota saw 319 HMDA-reported mortgage applications in 2024. Lenders originated 191 of those loans and denied 40, producing a denial rate of 12.5% and an approval (origination) rate of 59.9%. The average loan amount was $129,013 at an average note rate of 7.01%, with applicants self-reporting average annual income of $36K. 67 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 3.6x, meaning typical borrowers took on mortgages of about 3.6 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 27043 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

319
Applications
191
Originated
12.5%
Denial Rate
59.9%
Approval Rate
$129,013
Avg Loan Amount
7.01%
Avg Interest Rate
$36K
Avg Applicant Income
3.6x
Loan-to-Income Ratio

Nearby Lenders in Faribault 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 United Wholesale Mortgage 28 14.7%
2 Compeer Financial 16 8.4%
3 Rocket Mortgage 13 6.8%
4 Citizens Community Federal N.A. 10 5.2%
5 Loandepot.Com, LLC 7 3.7%
Compare United Wholesale Mortgage vs Compeer Financial →

Frequently Asked Questions

How many mortgage applications were filed in Faribault County?
In the 2024 HMDA reporting year, 319 mortgage applications were filed in Faribault County, Minnesota. Of these, 191 were originated (approved and funded), while 40 were denied, resulting in a denial rate of 12.5%.
What is the mortgage denial rate in Faribault County?
The mortgage denial rate in Faribault County is 12.5%. The approval (origination) rate is 59.9%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Faribault County?
The average mortgage loan amount in Faribault County is $129,013. The average interest rate is 7.012%. The average applicant income is $36K.
What is the loan-to-income ratio in Faribault County?
The average loan-to-income ratio in Faribault County is 3.6x, meaning borrowers took on loans averaging 3.6 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Faribault County?
The top mortgage lenders in Faribault County by origination volume are United Wholesale Mortgage, Compeer Financial, Rocket Mortgage. In total, 67 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.