Elgin
Metropolitan Statistical Area · MSA Code 20994
According to CFPB HMDA 2024 application volume among tracked metros, Elgin ranks #99 of 418.
Mortgage lending activity in the Elgin metro area based on lender filings under the Home Mortgage Disclosure Act (HMDA). Data covers all applications received by HMDA-reporting institutions operating in this geography during 2024. Why mortgages get denied walks the denial-reason codes that appear in books like this one.
Metro-area mortgage activity. The Elgin Metropolitan Statistical Area (MSA code 20994) financed its book at an average note rate of 7.22%. 20 major lenders are tracked for this metro - Guaranteed Rate, INC., Rocket Mortgage, United Wholesale Mortgage lead by origination volume. Among the 418 metros tracked, Elgin sits in the 67th percentile for approval-friendliness by denial rate, and shares its 5-point denial-rate band with 241 other tracked metros.
What MSA numbers tell you, and what they don't. Metro area boundaries are defined by the U.S. Office of Management and Budget and typically span multiple counties, so a single Elgin denial rate averages across urban core, inner suburbs, and outer commuter communities with very different borrower profiles. A 15.3% denial rate at the MSA level can coexist with widely varying individual-lender denial rates; $257,470 average loan size reflects the MSA's property values and the borrower pool that actually applied, not any single neighborhood. This page is informational data reporting, not financial, legal, or mortgage advice.
Lender concentration in Elgin
In Elgin, lead originator Guaranteed Rate, INC. funded only 5.0% of 15,518 originated loans, below the fleet's lower tercile (~8.7% top-1 share). The top three reporters together hold 14.5% of the book, so shopping across channels still meets many active filers.
Metros With a Similar Denial Rate
The metro areas closest to Elgin's 15.3% denial rate among all 418 tracked MSAs.
Metros With Similar Application Volume
Nationwide MSAs nearest to Elgin's 29,159 HMDA applications (deduped against the denial-rate neighbourhood).
Metros With a Similar Average Loan
Nationwide MSAs nearest to Elgin's $257,470 average loan (deduped against denial and volume peers).
Lenders active in the Elgin metro
Guaranteed Rate, INC. funded 773 of the 15,518 loans originated here, 5.0% of the metro. 20 reporting lenders follow.
| # | Lender | Originated | Applications | Avg Loan | Market Share |
|---|---|---|---|---|---|
| 1 | Guaranteed Rate, INC. | 773 | 1,216 | $394,276 | 5.0% |
| 2 | Rocket Mortgage | 749 | 991 | $235,898 | 4.8% |
| 3 | United Wholesale Mortgage | 725 | 954 | $311,237 | 4.7% |
| 4 | Guild Mortgage Company | 524 | 688 | $250,160 | 3.4% |
| 5 | JPMorgan Chase Bank, NA | 503 | 768 | $293,047 | 3.2% |
Every figure on PlainLender is rendered directly from CFPB HMDA federal source data, no number is typed in by an editor. For the Elgin metropolitan area, from the FFIEC/CFPB HMDA Snapshot National Loan-Level Dataset (2024) -- Metropolitan Statistical Areas are defined by the U.S. Office of Management and Budget (OMB). Not financial advice for Elgin borrowers. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error. Data current as of 2026-08-10. HMDA figures are lender-filed application outcomes for a published reporting year - not creditworthiness scores, rate quotes, Loan Estimates, underwriting decisions, or mortgage advice.