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2024 data HMDA 2024 disclosure official source

Elk County

756 mortgage applications, 23.5% denial rate. Verify FIPS 42047 with U.S. Census Bureau →

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Pennsylvania · FIPS 42047

Local mortgage market. Elk County, Pennsylvania saw 756 HMDA-reported mortgage applications in 2024. Lenders originated 425 of those loans and denied 178, producing a denial rate of 23.5% and an approval (origination) rate of 56.2%. The average loan amount was $104,577 at an average note rate of 7.08%, with applicants self-reporting average annual income of $34K. 57 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 3.1x, meaning typical borrowers took on mortgages of about 3.1 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 42047 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

756
Applications
425
Originated
23.5%
Denial Rate
56.2%
Approval Rate
$104,577
Avg Loan Amount
7.08%
Avg Interest Rate
$34K
Avg Applicant Income
3.1x
Loan-to-Income Ratio

Nearby Lenders in Elk 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 Northwest Bank 86 20.2%
2 CNB Bank 82 19.3%
3 First Commonwealth Bank 76 17.9%
4 Rocket Mortgage 46 10.8%
5 Farmers National Bank 18 4.2%
Compare Northwest Bank vs CNB Bank →

Frequently Asked Questions

How many mortgage applications were filed in Elk County?
In the 2024 HMDA reporting year, 756 mortgage applications were filed in Elk County, Pennsylvania. Of these, 425 were originated (approved and funded), while 178 were denied, resulting in a denial rate of 23.5%.
What is the mortgage denial rate in Elk County?
The mortgage denial rate in Elk County is 23.5%. The approval (origination) rate is 56.2%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Elk County?
The average mortgage loan amount in Elk County is $104,577. The average interest rate is 7.082%. The average applicant income is $34K.
What is the loan-to-income ratio in Elk County?
The average loan-to-income ratio in Elk County is 3.1x, meaning borrowers took on loans averaging 3.1 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Elk County?
The top mortgage lenders in Elk County by origination volume are Northwest Bank, CNB Bank, First Commonwealth Bank. In total, 57 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.