Massachusetts Mortgage Lending
673 lenders reporting under HMDA
Statewide mortgage activity. Lenders filed 214,900 HMDA-reported mortgage applications in Massachusetts in 2024, originating 119,508 loans and denying 35,689. That puts the statewide denial rate at 16.6% and the approval (origination) rate at 55.6%. The average loan amount across Massachusetts was $411,786 at an average note rate of 7.13%. 673 distinct institutions — banks, credit unions, and independent mortgage companies — filed HMDA data covering activity in the state. Applications span 14 counties and 9 metropolitan areas.
What drives state-level differences. State mortgage denial rates reflect applicant mix more than lender stance. Credit profiles, loan-to-value ratios, debt-to-income, property type, and rural-versus-urban composition all move the number before any lender policy does. Demographic lending data reported under HMDA shows variation across applicant groups — for example, White applicants had an approval rate of 63.3% and denial rate of 16.6%; while Asian applicants had an approval rate of 59.7% and denial rate of 14.9%. These are derived race categories as reported by applicants and do not by themselves prove causation; credit score, income, and loan-to-value are not reported in HMDA and drive much of the underlying variation. Top counties by volume include Middlesex County, Worcester County, Essex County.
How to read this page. These are aggregate 2024 HMDA disclosures published by the Consumer Financial Protection Bureau — a federal transparency dataset, not a real-time market feed. A state-level number is useful for context but cannot tell you what rate, fees, or underwriting any individual lender will offer a specific borrower. This page is informational data reporting, not financial, legal, or mortgage advice. Shop at least three lenders, compare Loan Estimates line-by-line, and consult a licensed mortgage professional before applying. Data reflects the CFPB HMDA 2024 Snapshot National Loan-Level Dataset; demographic fields reflect derived categories as reported by applicants.
Nearby Lenders in Massachusetts
Top HMDA-reporting lenders active in Massachusetts. Compare any two side-by-side for rates, denial rates, and loan mix.
| # | Lender | Originated | Market Share |
|---|---|---|---|
| 1 | CBNA Year to Date | 7,802 | 6.5% |
| 2 | ROCKET MORTGAGE | 5,027 | 4.2% |
| 3 | GUARANTEED RATE, INC. | 4,444 | 3.7% |
| 4 | Leader Bank NA | 4,371 | 3.7% |
| 5 | United Wholesale Mortgage | 3,842 | 3.2% |
Lending by Race in Massachusetts
Derived race categories as reported under HMDA. Source: CFPB.
| Race | Applications | Approval Rate | Denial Rate |
|---|---|---|---|
| White | 127,784 | 63.3% | 16.6% |
| Asian | 15,321 | 59.7% | 14.9% |
| Black or African American | 13,746 | 48.7% | 28.5% |
| Joint | 4,236 | 67.4% | 12.8% |
| American Indian or Alaska Native | 785 | 41.7% | 31.5% |
| 2 or more minority races | 408 | 46.1% | 28.4% |
| Native Hawaiian or Other Pacific Islander | 359 | 35.4% | 45.1% |
Counties in Massachusetts
| County | Applications | Originated | Denial Rate | Avg Loan |
|---|---|---|---|---|
| Middlesex County | 43,678 | 25,016 | 14.4% | $507,376 |
| Worcester County | 30,547 | 16,957 | 16.3% | $304,356 |
| Essex County | 25,025 | 13,607 | 17.8% | $416,589 |
| Norfolk County | 21,648 | 12,244 | 16.2% | $467,702 |
| Plymouth County | 20,918 | 11,259 | 18.9% | $351,587 |
| Bristol County | 18,575 | 10,037 | 18.4% | $313,395 |
| Suffolk County | 15,835 | 8,300 | 18.3% | $664,077 |
| Hampden County | 15,012 | 8,397 | 17.1% | $219,220 |
| Barnstable County | 11,077 | 6,516 | 16.0% | $417,528 |
| Berkshire County | 4,198 | 2,531 | 14.5% | $221,791 |
| Hampshire County | 3,910 | 2,349 | 13.6% | $246,900 |
| Franklin County | 1,973 | 1,113 | 14.9% | $213,860 |
| Dukes County | 949 | 486 | 18.6% | $797,877 |
| Nantucket County | 667 | 368 | 19.8% | $1,265,015 |
Metro Areas in Massachusetts
Frequently Asked Questions
How many mortgage applications were filed in Massachusetts?
What is the mortgage denial rate in Massachusetts?
What is the average mortgage loan amount in Massachusetts?
How many mortgage lenders operate in Massachusetts?
How do mortgage denial rates vary by demographics in Massachusetts?
Which counties in Massachusetts have the most mortgage activity?
Mortgage Lending Guides
Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024. State geography per U.S. Census Bureau standards.
Data from FFIEC / CFPB HMDA Snapshot National Loan-Level Dataset (2024). Demographic data reflects derived categories as reported by applicants. Provided for informational purposes only.
Read our methodology — how this data is sourced, computed, and verified.
