Hanover County
Virginia · FIPS 51085
According to CFPB HMDA 2024 application volume among U.S. counties, Hanover County ranks #495 of 3,210, and #17 of 133 in Virginia.
Mortgage lending activity in Hanover County, Virginia based on lender filings under the Home Mortgage Disclosure Act (HMDA). Data covers all applications received by HMDA-reporting institutions operating in this county during 2024. Why mortgages get denied walks the denial-reason codes that appear in books like this one.
Local mortgage market. Hanover County, Virginia saw 5,158 HMDA-reported mortgage applications in 2024. Lenders originated 2,845 of those loans and denied 729, producing a denial rate of 14.1% and an approval (origination) rate of 55.2%. The average loan amount was $287,540 at an average note rate of 7.39%, with applicants self-reporting average annual income of $37K. 248 distinct institutions reported mortgage activity in this county.
Borrower leverage and affordability signal. The loan-to-income ratio averages 7.8x, meaning typical borrowers took on mortgages of about 7.8 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. This page is informational data reporting, not financial, legal, or mortgage advice.
Lender concentration in Hanover County
In Hanover County, lead originator Virginia Federal Credit Union funded only 8.6% of 2,845 originated loans, below the county fleet's lower tercile (~10.9% top-1 share). The top three reporters together hold 19.8% of the book, so shopping across channels still meets many active filers.
Counties With Similar Application Volume
Nationwide counties nearest to Hanover County's 5,158 HMDA applications.
Counties With a Similar Average Loan
Nationwide counties nearest to Hanover County's $287,540 average loan (deduped against volume peers).
Lenders active in Hanover County
Virginia Federal Credit Union funded 244 of the 2,845 loans originated in Hanover County, 8.6% of the county. 248 lenders reported activity here.
| # | Lender | Originated | Market Share |
|---|---|---|---|
| 1 | Virginia Federal Credit Union | 244 | 8.6% |
| 2 | Rocket Mortgage | 192 | 6.7% |
| 3 | Truist Bank | 128 | 4.5% |
| 4 | United Bank | 119 | 4.2% |
| 5 | Atlantic Union Bank | 119 | 4.2% |
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; does not constitute financial advice for Hanover County borrowers.
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 Hanover County 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. Data current as of 2026-08-10. HMDA figures are lender-filed application outcomes for a published reporting year - not creditworthiness scores, rate quotes, Loan Estimates, underwriting decisions, or mortgage advice.