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2024 data HMDA 2024 disclosure official source

Norfolk City

9,742 mortgage applications, 14.2% denial rate. Verify FIPS 51710 with U.S. Census Bureau →

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Virginia · FIPS 51710

Local mortgage market. Norfolk City, Virginia saw 9,742 HMDA-reported mortgage applications in 2024. Lenders originated 4,924 of those loans and denied 1,379, producing a denial rate of 14.2% and an approval (origination) rate of 50.5%. The average loan amount was $275,344 at an average note rate of 6.96%, with applicants self-reporting average annual income of $40K. 271 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 6.9x, meaning typical borrowers took on mortgages of about 6.9 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 51710 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

9,742
Applications
4,924
Originated
14.2%
Denial Rate
50.5%
Approval Rate
$275,344
Avg Loan Amount
6.96%
Avg Interest Rate
$40K
Avg Applicant Income
6.9x
Loan-to-Income Ratio

Nearby Lenders in Norfolk 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 Navy Federal Credit Union 417 8.5%
2 Mortgage Research Center 324 6.6%
3 United Wholesale Mortgage 322 6.5%
4 American Neighborhood Mortgage Acceptance Company 259 5.3%
5 Rocket Mortgage 224 4.5%
Compare Navy Federal Credit Union vs Mortgage Research Center →

Frequently Asked Questions

How many mortgage applications were filed in Norfolk City?
In the 2024 HMDA reporting year, 9,742 mortgage applications were filed in Norfolk City, Virginia. Of these, 4,924 were originated (approved and funded), while 1,379 were denied, resulting in a denial rate of 14.2%.
What is the mortgage denial rate in Norfolk City?
The mortgage denial rate in Norfolk City is 14.2%. The approval (origination) rate is 50.5%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Norfolk City?
The average mortgage loan amount in Norfolk City is $275,344. The average interest rate is 6.963%. The average applicant income is $40K.
What is the loan-to-income ratio in Norfolk City?
The average loan-to-income ratio in Norfolk City is 6.9x, meaning borrowers took on loans averaging 6.9 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Norfolk City?
The top mortgage lenders in Norfolk City by origination volume are Navy Federal Credit Union, Mortgage Research Center, United Wholesale Mortgage. In total, 271 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.