PlainLender
2024 data HMDA 2024 disclosure official source

Boone County

520 mortgage applications, 33.1% denial rate. Verify FIPS 54005 with U.S. Census Bureau →

PlainLender home → About this data

West Virginia · FIPS 54005

Local mortgage market. Boone County, West Virginia saw 520 HMDA-reported mortgage applications in 2024. Lenders originated 197 of those loans and denied 172, producing a denial rate of 33.1% and an approval (origination) rate of 37.9%. The average loan amount was $117,750 at an average note rate of 7.44%, with applicants self-reporting average annual income of $35K. 45 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 3.4x, meaning typical borrowers took on mortgages of about 3.4 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 54005 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

520
Applications
197
Originated
33.1%
Denial Rate
37.9%
Approval Rate
$117,750
Avg Loan Amount
7.44%
Avg Interest Rate
$35K
Avg Applicant Income
3.4x
Loan-to-Income Ratio

Nearby Lenders in Boone 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 Gateway First Bank 25 12.7%
2 Rocket Mortgage 19 9.6%
3 Logan Bank and Trust 17 8.6%
4 Vanderbilt Mortgage and Finance, INC 17 8.6%
5 Truist Bank 12 6.1%
Compare Gateway First Bank vs Rocket Mortgage →

Frequently Asked Questions

How many mortgage applications were filed in Boone County?
In the 2024 HMDA reporting year, 520 mortgage applications were filed in Boone County, West Virginia. Of these, 197 were originated (approved and funded), while 172 were denied, resulting in a denial rate of 33.1%.
What is the mortgage denial rate in Boone County?
The mortgage denial rate in Boone County is 33.1%. The approval (origination) rate is 37.9%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Boone County?
The average mortgage loan amount in Boone County is $117,750. The average interest rate is 7.438%. The average applicant income is $35K.
What is the loan-to-income ratio in Boone County?
The average loan-to-income ratio in Boone County is 3.4x, meaning borrowers took on loans averaging 3.4 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Boone County?
The top mortgage lenders in Boone County by origination volume are Gateway First Bank, Rocket Mortgage, Logan Bank and Trust. In total, 45 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.