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FAIRMONT FEDERAL CREDIT UNION

FAIRMONT, WV

FAIRMONT FEDERAL CREDIT UNION processed 413 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 140 loans with a 22.3% denial rate. Home Purchase was the primary loan purpose. Based in FAIRMONT, WV. The approval rate of 33.9% reflects originated loans as a share of all applications. Below you will find a breakdown by loan type, loan purpose, denial reasons, and demographic lending patterns as required by the Home Mortgage Disclosure Act.

Portfolio scale. FAIRMONT FEDERAL CREDIT UNION processed 413 HMDA-reported mortgage applications in 2024, originating 140 loans and denying 92 for a denial rate of 22.3% (applicants themselves withdrew 5 files before a decision). The average loan amount was $141,513 at a 6.213% average note rate, and applicants self-reported an average income of $32,000. The lender reports under LEI 549300LY3BVZZOO7LW95 from FAIRMONT, WV.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. FAIRMONT FEDERAL CREDIT UNION's 33.9% origination rate tells you how often an application turned into funded money; the 22.3% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Credit history, Debt-to-income ratio, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (413 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.

413
Applications
140
Originated
22.3%
Denial Rate
$141,513
Avg Loan Amount
Avg Interest Rate: 6.213% Avg Applicant Income: $32,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 413 140 92 $141,513

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for FAIRMONT FEDERAL CREDIT UNION (LEI: 549300LY3BVZZOO7LW95) · 2023 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Credit history
44
Debt-to-income ratio
39
Collateral
11
Insufficient cash
7
Other
5
Mortgage insurance denied
3
Employment history
3

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 251 66 $175,199
Cash-out Refinancing 60 34 $135,000
Home Improvement 48 18 $52,083
Other 48 20 $66,250
Refinancing 6 2 $115,000

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 319 37.0% 21.6%
Joint 8 37.5% 12.5%
Black or African American 3 33.3% 33.3%
Asian 2 0.0% 50.0%

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 324 37.0% 21.6%
Joint 2 0.0% 0.0%
Hispanic or Latino 1 0.0% 100.0%

Nearby Lenders in WV

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

WESBANCO BANK, INC.

WHEELING, WV

6,755 apps 4,430 originated 17.7% denied

UNITED BANK

MORGANTOWN, WV

6,567 apps 3,535 originated 12.4% denied

City National Bank of WV

Cross Lanes, WV

4,878 apps 2,967 originated 25.4% denied

Hancock County Savings Bank, FSB

Chester, WV

683 apps 446 originated 11.4% denied

BAYER HFCU

NEW MARTINSVILLE, WV

536 apps 349 originated 17.9% denied
Compare FAIRMONT FEDERAL CREDIT UNION vs WESBANCO BANK, INC. →

Mortgage Lending Guides

Why Mortgages Get Denied
Common denial reasons and how to improve your chances
Comparing Mortgage Lenders
What to look for when choosing a mortgage lender
Getting the Best Mortgage Rate
Strategies for securing the lowest interest rate
Understanding HMDA Data
How to read and interpret mortgage disclosure data
Denial Rates by Demographics
Demographic patterns in mortgage approval and denial

Explore More Data

Bank Financial Data → Credit Union Data → Financial Advisor Lookup → Home Insurance Costs → Property Tax Data → Rent Price Data →

Frequently Asked Questions

How many mortgage applications did FAIRMONT FEDERAL CREDIT UNION process?
FAIRMONT FEDERAL CREDIT UNION processed 413 mortgage applications in the 2023 HMDA reporting year. Of these, 140 were originated (approved and funded), 5 were withdrawn by the applicant, and 92 were denied.
What is FAIRMONT FEDERAL CREDIT UNION's mortgage approval rate?
FAIRMONT FEDERAL CREDIT UNION has an approval (origination) rate of 33.9%, meaning 33.9% of all applications resulted in a funded mortgage. The denial rate is 22.3%.
What is the average loan amount at FAIRMONT FEDERAL CREDIT UNION?
The average mortgage loan amount at FAIRMONT FEDERAL CREDIT UNION is $141,513. The average interest rate is 6.213%. The average applicant income is $32,000.
What are the most common reasons for mortgage denial at FAIRMONT FEDERAL CREDIT UNION?
The most common reasons for mortgage denial at FAIRMONT FEDERAL CREDIT UNION are: Credit history, Debt-to-income ratio, Collateral. In total, 92 applications were denied out of 413 total applications.
What types of mortgage loans does FAIRMONT FEDERAL CREDIT UNION offer?
FAIRMONT FEDERAL CREDIT UNION processes Conventional loans. The most common type is Conventional with 413 applications and an average loan amount of $141,513.
What loan purposes does FAIRMONT FEDERAL CREDIT UNION serve?
FAIRMONT FEDERAL CREDIT UNION serves the following loan purposes: Home Purchase (251 applications), Cash-out Refinancing (60 applications), Home Improvement (48 applications), Other (48 applications), Refinancing (6 applications). Home Purchase is the most common purpose.
Where is FAIRMONT FEDERAL CREDIT UNION located?
FAIRMONT FEDERAL CREDIT UNION is headquartered in FAIRMONT, WV. The lender is identified by LEI 549300LY3BVZZOO7LW95 in HMDA data.
How does FAIRMONT FEDERAL CREDIT UNION compare in lending across racial demographics?
FAIRMONT FEDERAL CREDIT UNION reports demographic lending data under HMDA requirements. White applicants have an approval rate of 37.0% and denial rate of 21.6%; Joint applicants have an approval rate of 37.5% and denial rate of 12.5%; Black or African American applicants have an approval rate of 33.3% and denial rate of 33.3%. 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.