PlainLender
2024 data HMDA 2024 disclosure official source

Richmond City

7,205 mortgage applications, 13.6% denial rate. Verify FIPS 51760 with U.S. Census Bureau →

PlainLender home → About this data

Virginia · FIPS 51760

Local mortgage market. Richmond City, Virginia saw 7,205 HMDA-reported mortgage applications in 2024. Lenders originated 4,045 of those loans and denied 983, producing a denial rate of 13.6% and an approval (origination) rate of 56.1%. The average loan amount was $346,099 at an average note rate of 7.17%, with applicants self-reporting average annual income of $36K. 315 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 9.6x, meaning typical borrowers took on mortgages of about 9.6 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 51760 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

7,205
Applications
4,045
Originated
13.6%
Denial Rate
56.1%
Approval Rate
$346,099
Avg Loan Amount
7.17%
Avg Interest Rate
$36K
Avg Applicant Income
9.6x
Loan-to-Income Ratio

Nearby Lenders in Richmond 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 Virginia Federal Credit Union 291 7.2%
2 Rocket Mortgage 234 5.8%
3 United Wholesale Mortgage 162 4.0%
4 Truist Bank 143 3.5%
5 JPMorgan Chase Bank, NA 141 3.5%
Compare Virginia Federal Credit Union vs Rocket Mortgage →

Frequently Asked Questions

How many mortgage applications were filed in Richmond City?
In the 2024 HMDA reporting year, 7,205 mortgage applications were filed in Richmond City, Virginia. Of these, 4,045 were originated (approved and funded), while 983 were denied, resulting in a denial rate of 13.6%.
What is the mortgage denial rate in Richmond City?
The mortgage denial rate in Richmond City is 13.6%. The approval (origination) rate is 56.1%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Richmond City?
The average mortgage loan amount in Richmond City is $346,099. The average interest rate is 7.169%. The average applicant income is $36K.
What is the loan-to-income ratio in Richmond City?
The average loan-to-income ratio in Richmond City is 9.6x, meaning borrowers took on loans averaging 9.6 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Richmond City?
The top mortgage lenders in Richmond City by origination volume are Virginia Federal Credit Union, Rocket Mortgage, United Wholesale Mortgage. In total, 315 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.