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2024 data HMDA 2024 disclosure official source

Galax City

246 mortgage applications, 19.9% denial rate. Verify FIPS 51640 with U.S. Census Bureau →

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Virginia · FIPS 51640

Local mortgage market. Galax City, Virginia saw 246 HMDA-reported mortgage applications in 2024. Lenders originated 121 of those loans and denied 49, producing a denial rate of 19.9% and an approval (origination) rate of 49.2%. The average loan amount was $139,634 at an average note rate of 7.22%, with applicants self-reporting average annual income of $36K. 36 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 3.9x, meaning typical borrowers took on mortgages of about 3.9 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 51640 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

246
Applications
121
Originated
19.9%
Denial Rate
49.2%
Approval Rate
$139,634
Avg Loan Amount
7.22%
Avg Interest Rate
$36K
Avg Applicant Income
3.9x
Loan-to-Income Ratio

Nearby Lenders in Galax City

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 Atlantic Bay Mortgage Group 18 14.9%
2 Rocket Mortgage 17 14.0%
3 Skyline National Bank 17 14.0%
4 Vanderbilt Mortgage and Finance, INC 8 6.6%
5 Truliant Federal Credit Union 6 5.0%
Compare Atlantic Bay Mortgage Group vs Rocket Mortgage →

Frequently Asked Questions

How many mortgage applications were filed in Galax City?
In the 2024 HMDA reporting year, 246 mortgage applications were filed in Galax City, Virginia. Of these, 121 were originated (approved and funded), while 49 were denied, resulting in a denial rate of 19.9%.
What is the mortgage denial rate in Galax City?
The mortgage denial rate in Galax City is 19.9%. The approval (origination) rate is 49.2%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Galax City?
The average mortgage loan amount in Galax City is $139,634. The average interest rate is 7.223%. The average applicant income is $36K.
What is the loan-to-income ratio in Galax City?
The average loan-to-income ratio in Galax City is 3.9x, meaning borrowers took on loans averaging 3.9 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Galax City?
The top mortgage lenders in Galax City by origination volume are Atlantic Bay Mortgage Group, Rocket Mortgage, Skyline National Bank. In total, 36 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.