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2024 data HMDA 2024 disclosure official source

Hennepin County

39,850 mortgage applications, 12.4% denial rate. Verify FIPS 27053 with U.S. Census Bureau →

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Minnesota · FIPS 27053

Local mortgage market. Hennepin County, Minnesota saw 39,850 HMDA-reported mortgage applications in 2024. Lenders originated 23,628 of those loans and denied 4,928, producing a denial rate of 12.4% and an approval (origination) rate of 59.3%. The average loan amount was $317,122 at an average note rate of 6.97%, with applicants self-reporting average annual income of $37K. 517 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 8.6x, meaning typical borrowers took on mortgages of about 8.6 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 27053 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

39,850
Applications
23,628
Originated
12.4%
Denial Rate
59.3%
Approval Rate
$317,122
Avg Loan Amount
6.97%
Avg Interest Rate
$37K
Avg Applicant Income
8.6x
Loan-to-Income Ratio

Nearby Lenders in Hennepin 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 Bell Bank 1,732 7.3%
2 Trustone Financial Credit Union 1,507 6.4%
3 United Wholesale Mortgage 1,181 5.0%
4 Us Bank, N.A. 1,078 4.6%
5 Rocket Mortgage 852 3.6%
Compare Bell Bank vs Trustone Financial Credit Union →

Frequently Asked Questions

How many mortgage applications were filed in Hennepin County?
In the 2024 HMDA reporting year, 39,850 mortgage applications were filed in Hennepin County, Minnesota. Of these, 23,628 were originated (approved and funded), while 4,928 were denied, resulting in a denial rate of 12.4%.
What is the mortgage denial rate in Hennepin County?
The mortgage denial rate in Hennepin County is 12.4%. The approval (origination) rate is 59.3%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Hennepin County?
The average mortgage loan amount in Hennepin County is $317,122. The average interest rate is 6.968%. The average applicant income is $37K.
What is the loan-to-income ratio in Hennepin County?
The average loan-to-income ratio in Hennepin County is 8.6x, meaning borrowers took on loans averaging 8.6 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Hennepin County?
The top mortgage lenders in Hennepin County by origination volume are Bell Bank, Trustone Financial Credit Union, United Wholesale Mortgage. In total, 517 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.