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2024 data HMDA 2024 disclosure official source

Covington County

654 mortgage applications, 35.5% denial rate. Verify FIPS 28031 with U.S. Census Bureau →

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Mississippi · FIPS 28031

Local mortgage market. Covington County, Mississippi saw 654 HMDA-reported mortgage applications in 2024. Lenders originated 221 of those loans and denied 232, producing a denial rate of 35.5% and an approval (origination) rate of 33.8%. The average loan amount was $112,355 at an average note rate of 8.32%, with applicants self-reporting average annual income of $35K. 45 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 3.2x, meaning typical borrowers took on mortgages of about 3.2 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 28031 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

654
Applications
221
Originated
35.5%
Denial Rate
33.8%
Approval Rate
$112,355
Avg Loan Amount
8.32%
Avg Interest Rate
$35K
Avg Applicant Income
3.2x
Loan-to-Income Ratio

Nearby Lenders in Covington 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 PriorityOne Bank 43 19.5%
2 21st Mortgage 17 7.7%
3 Peoples Bank 17 7.7%
4 Regions Bank 16 7.2%
5 Citizens Bank 15 6.8%
Compare PriorityOne Bank vs 21st Mortgage →

Frequently Asked Questions

How many mortgage applications were filed in Covington County?
In the 2024 HMDA reporting year, 654 mortgage applications were filed in Covington County, Mississippi. Of these, 221 were originated (approved and funded), while 232 were denied, resulting in a denial rate of 35.5%.
What is the mortgage denial rate in Covington County?
The mortgage denial rate in Covington County is 35.5%. The approval (origination) rate is 33.8%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Covington County?
The average mortgage loan amount in Covington County is $112,355. The average interest rate is 8.323%. The average applicant income is $35K.
What is the loan-to-income ratio in Covington County?
The average loan-to-income ratio in Covington County is 3.2x, meaning borrowers took on loans averaging 3.2 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Covington County?
The top mortgage lenders in Covington County by origination volume are PriorityOne Bank, 21st Mortgage, Peoples Bank. In total, 45 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.