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2024 data HMDA 2024 disclosure official source

Montgomery County

2,492 mortgage applications, 15.2% denial rate. Verify FIPS 51121 with U.S. Census Bureau →

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Virginia · FIPS 51121

Local mortgage market. Montgomery County, Virginia saw 2,492 HMDA-reported mortgage applications in 2024. Lenders originated 1,354 of those loans and denied 378, producing a denial rate of 15.2% and an approval (origination) rate of 54.3%. The average loan amount was $275,016 at an average note rate of 7.26%, with applicants self-reporting average annual income of $35K. 167 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 7.9x, meaning typical borrowers took on mortgages of about 7.9 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 51121 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

2,492
Applications
1,354
Originated
15.2%
Denial Rate
54.3%
Approval Rate
$275,016
Avg Loan Amount
7.26%
Avg Interest Rate
$35K
Avg Applicant Income
7.9x
Loan-to-Income Ratio

Nearby Lenders in Montgomery 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 Freedom First Federal Credit Union 114 8.4%
2 ALCOVA Mortgage, LLC 94 6.9%
3 First Heritage Mortgage, LLC 83 6.1%
4 Movement Mortgage, LLC 73 5.4%
5 Atlantic Union Bank 73 5.4%
Compare Freedom First Federal Credit Union vs ALCOVA Mortgage, LLC →

Frequently Asked Questions

How many mortgage applications were filed in Montgomery County?
In the 2024 HMDA reporting year, 2,492 mortgage applications were filed in Montgomery County, Virginia. Of these, 1,354 were originated (approved and funded), while 378 were denied, resulting in a denial rate of 15.2%.
What is the mortgage denial rate in Montgomery County?
The mortgage denial rate in Montgomery County is 15.2%. The approval (origination) rate is 54.3%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Montgomery County?
The average mortgage loan amount in Montgomery County is $275,016. The average interest rate is 7.258%. The average applicant income is $35K.
What is the loan-to-income ratio in Montgomery County?
The average loan-to-income ratio in Montgomery County is 7.9x, meaning borrowers took on loans averaging 7.9 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Montgomery County?
The top mortgage lenders in Montgomery County by origination volume are Freedom First Federal Credit Union, ALCOVA Mortgage, LLC, First Heritage Mortgage, LLC. In total, 167 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.