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Bank of Canton

CANTON, MA

Bank of Canton processed 394 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 272 loans with a 12.7% denial rate. Home Purchase was the primary loan purpose. Based in CANTON, MA. The approval rate of 69.0% reflects originated loans as a share of all applications.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% - HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Bank of Canton's 69.0% origination rate tells you how often an application turned into funded money; the 12.7% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Other, Credit history, which together explain the majority of rejections. Most activity concentrated in Conventional loans (394 applications).

How to read this page. These figures are aggregate HMDA disclosures, they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting, it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

394
Applications
272
Originated
12.7%
Denial Rate
$608,883
Avg Loan Amount
Avg Interest Rate: 6.610% Avg Applicant Income: $37,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 394 272 50 $608,883

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Bank of Canton (LEI: 549300J8Y8IPQFMMIT88) · 2024 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
22
Other
12
Credit history
11
Collateral
7
Unverifiable information
3
Insufficient cash
3
Employment history
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 272 214 $566,654
Refinancing 56 31 $978,750
Home Improvement 38 18 $608,158
Cash-out Refinancing 15 7 $331,667
Other 13 2 $221,154

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 212 66.0% 11.8%
Asian 75 74.7% 14.7%
Joint * 13 69.2% 15.4%
Black or African American * 12 66.7% 25.0%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 286 68.9% 12.9%
Hispanic or Latino * 17 47.1% 29.4%
Joint * 8 62.5% 0.0%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

Nearby Lenders in MA

Other HMDA-reporting lenders in MA with similar activity. Compare any two side-by-side.

Digital Federal Credit Union

Marlborough, MA

11,503 apps 4,232 originated 23.0% denied

Leader Bank NA

Arlington, MA

6,683 apps 5,398 originated 2.6% denied

Rockland Trust Bank

BROCKTON, MA

5,681 apps 2,932 originated 30.2% denied

Eastern Bank

Lynn, MA

5,146 apps 3,130 originated 29.4% denied

Cape Cod Five Cents Savings Bank

HYANNIS, MA

2,836 apps 2,014 originated 10.2% denied
Compare Bank of Canton vs Digital Federal Credit Union →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Bank of Canton process?
Bank of Canton processed 394 mortgage applications in the 2024 HMDA reporting year. Of these, 272 were originated (approved and funded), 51 were withdrawn by the applicant, and 50 were denied.
What is Bank of Canton's mortgage approval rate?
Bank of Canton has an approval (origination) rate of 69.0%, meaning 69.0% of all applications resulted in a funded mortgage. The denial rate is 12.7%.
What is the average loan amount at Bank of Canton?
The average mortgage loan amount at Bank of Canton is $608,883. The average interest rate is 6.610%. The average applicant income is $37,000.
What are the most common reasons for mortgage denial at Bank of Canton?
The most common reasons for mortgage denial at Bank of Canton are: Debt-to-income ratio, Other, Credit history. In total, 50 applications were denied out of 394 total applications.
What types of mortgage loans does Bank of Canton offer?
Bank of Canton processes Conventional loans. The most common type is Conventional with 394 applications and an average loan amount of $608,883.
What loan purposes does Bank of Canton serve?
Bank of Canton serves the following loan purposes: Home Purchase (272 applications), Refinancing (56 applications), Home Improvement (38 applications), Cash-out Refinancing (15 applications), Other (13 applications). Home Purchase is the most common purpose.
Where is Bank of Canton located?
Bank of Canton is headquartered in CANTON, MA. The lender is identified by LEI 549300J8Y8IPQFMMIT88 in HMDA data.
How does Bank of Canton compare in lending across racial demographics?
Bank of Canton reports demographic lending data under HMDA requirements. White applicants have an approval rate of 66.0% and denial rate of 11.8%; Asian applicants have an approval rate of 74.7% and denial rate of 14.7%; Joint applicants have an approval rate of 69.2% and denial rate of 15.4%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is 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.