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2024 data HMDA 2024 disclosure official source

Otter Tail County

1,892 mortgage applications, 10.8% denial rate. Verify FIPS 27111 with U.S. Census Bureau →

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Minnesota · FIPS 27111

Local mortgage market. Otter Tail County, Minnesota saw 1,892 HMDA-reported mortgage applications in 2024. Lenders originated 1,198 of those loans and denied 204, producing a denial rate of 10.8% and an approval (origination) rate of 63.3%. The average loan amount was $221,226 at an average note rate of 7.05%, with applicants self-reporting average annual income of $36K. 155 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 6.1x, meaning typical borrowers took on mortgages of about 6.1 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 27111 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

1,892
Applications
1,198
Originated
10.8%
Denial Rate
63.3%
Approval Rate
$221,226
Avg Loan Amount
7.05%
Avg Interest Rate
$36K
Avg Applicant Income
6.1x
Loan-to-Income Ratio

Nearby Lenders in Otter Tail 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 150 12.5%
2 Gate City Bank 122 10.2%
3 United Wholesale Mortgage 99 8.3%
4 Affinity Plus Federal Credit Union 89 7.4%
5 Bremer Bank NA 56 4.7%
Compare Bell Bank vs Gate City Bank →

Frequently Asked Questions

How many mortgage applications were filed in Otter Tail County?
In the 2024 HMDA reporting year, 1,892 mortgage applications were filed in Otter Tail County, Minnesota. Of these, 1,198 were originated (approved and funded), while 204 were denied, resulting in a denial rate of 10.8%.
What is the mortgage denial rate in Otter Tail County?
The mortgage denial rate in Otter Tail County is 10.8%. The approval (origination) rate is 63.3%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Otter Tail County?
The average mortgage loan amount in Otter Tail County is $221,226. The average interest rate is 7.048%. The average applicant income is $36K.
What is the loan-to-income ratio in Otter Tail County?
The average loan-to-income ratio in Otter Tail County is 6.1x, meaning borrowers took on loans averaging 6.1 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Otter Tail County?
The top mortgage lenders in Otter Tail County by origination volume are Bell Bank, Gate City Bank, United Wholesale Mortgage. In total, 155 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.