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2024 data HMDA 2024 disclosure official source

Olmsted County

5,125 mortgage applications, 9.9% denial rate. Verify FIPS 27109 with U.S. Census Bureau →

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Minnesota · FIPS 27109

Local mortgage market. Olmsted County, Minnesota saw 5,125 HMDA-reported mortgage applications in 2024. Lenders originated 3,301 of those loans and denied 509, producing a denial rate of 9.9% and an approval (origination) rate of 64.4%. The average loan amount was $267,068 at an average note rate of 6.82%, with applicants self-reporting average annual income of $36K. 221 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 7.4x, meaning typical borrowers took on mortgages of about 7.4 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 27109 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

5,125
Applications
3,301
Originated
9.9%
Denial Rate
64.4%
Approval Rate
$267,068
Avg Loan Amount
6.82%
Avg Interest Rate
$36K
Avg Applicant Income
7.4x
Loan-to-Income Ratio

Nearby Lenders in Olmsted 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 Think Mutual Bank 383 11.6%
2 United Wholesale Mortgage 284 8.6%
3 Mayo Employees Federal Credit Union 176 5.3%
4 Bell Bank 164 5.0%
5 Alerus Financial NA 149 4.5%
Compare Think Mutual Bank vs United Wholesale Mortgage →

Frequently Asked Questions

How many mortgage applications were filed in Olmsted County?
In the 2024 HMDA reporting year, 5,125 mortgage applications were filed in Olmsted County, Minnesota. Of these, 3,301 were originated (approved and funded), while 509 were denied, resulting in a denial rate of 9.9%.
What is the mortgage denial rate in Olmsted County?
The mortgage denial rate in Olmsted County is 9.9%. The approval (origination) rate is 64.4%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Olmsted County?
The average mortgage loan amount in Olmsted County is $267,068. The average interest rate is 6.820%. The average applicant income is $36K.
What is the loan-to-income ratio in Olmsted County?
The average loan-to-income ratio in Olmsted County is 7.4x, meaning borrowers took on loans averaging 7.4 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Olmsted County?
The top mortgage lenders in Olmsted County by origination volume are Think Mutual Bank, United Wholesale Mortgage, Mayo Employees Federal Credit Union. In total, 221 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.