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Allegany County, Maryland
Mortgage lending record for properties in the county, calendar year 2024.
HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws. The data do not include some legitimate credit risk considerations for loan approval and loan pricing decisions. Cells under 25 applications are withheld.
Allegany County, Maryland, saw 1,603 HMDA-reported applications and 1,018 originations ($143m) in 2024.
That is 37.2 originations per 1,000 households, against 49.5 for Maryland and 48.0 nationally.
The county's denial rate was 21.2%, below the state rate of 24.9%. The median rate spread on originated loans was 0.5 percentage points and 15.9% of originations were 1.5 points or more above the average prime offer rate.
17 lenders reached 25 applications in the county; the most active by originations were First Peoples Cfcu (134), ALCOVA Mortgage, LLC (125) and Chessie Federal Credit Union (76).
Originations were up 6% on 2023.
Most active lenders
| # | Lender | Applications | Originations | Amount | Denial rate | Median spread |
|---|---|---|---|---|---|---|
| 1 | First Peoples Cfcu | 158 | 134 | $16m | 6.9% | — |
| 2 | ALCOVA Mortgage, LLC | 147 | 125 | $19m | 3.7% | — |
| 3 | Chessie Federal Credit Union | 89 | 76 | $10m | 7.2% | — |
| 4 | First United Bank & Trust | 70 | 57 | $8.8m | 6.1% | — |
| 5 | M&T Bank | 85 | 55 | $4.9m | 27.8% | — |
| 6 | Rocket Mortgage | 81 | 50 | $7.5m | 22.4% | — |
| 7 | Truist Bank | 73 | 46 | $4.2m | 34.3% | — |
| 8 | State Employees Credit Union of Maryland | 58 | 37 | $3.2m | 30.2% | — |
| 9 | Millennium Financial Group Inc DBA Mlend | 40 | 33 | $5.0m | 10.8% | — |
| 10 | Mortgage Research Center | 54 | 29 | $6.1m | 21.1% | — |
| 11 | ACT 1st FCU | 29 | 27 | $2.1m | 3.6% | — |
| 12 | United Wholesale Mortgage | 29 | 21 | $3.7m | — | — |
| 13 | Freedom Mortgage Corporation | 35 | 17 | $3.3m | — | — |
| 14 | Dollar Bank, FSB | 27 | 15 | $1.3m | 36.0% | — |
| 15 | Navy Federal Credit Union | 25 | 12 | $1.9m | — | — |
| 16 | New American Funding, LLC. | 29 | 9 | $1.4m | — | — |
| 17 | Pennymac Loan Services LLC | 25 | 9 | $1.6m | — | — |
Lenders with at least 25 applications in the county, by originations; up to 40 shown of 17. Denial rate is denials over decided applications in this county.
Compared with Maryland and the nation
| Measure | This county | Maryland | United States |
|---|---|---|---|
| Denial rate | 21.2% | 24.9% | 24.3% |
| Median rate spread, pp | 0.5 | 0.3 | 0.3 |
| Originations with spread of 1.5 pp or more | 15.9% | 17.7% | 15.6% |
| Average originated loan | $140k | $348k | $329k |
| Originations per 1,000 households | 37.2 | 49.5 | 48.0 |
| Home purchase share of originations | 57.0% | 56.2% | 57.0% |
| FHA-insured share | 15.5% | 14.6% | 13.4% |
| VA-guaranteed share | 5.8% | 10.0% | 7.9% |
Rate spread distribution
Share of 826 originated loans with a reported rate spread, by spread over the average prime offer rate (outlined bar: Maryland). Loans at 1.5 points or more on a first lien are what Regulation C calls higher-priced.
Loan purpose and loan type
By purpose
Home purchase 57% (580)Home improvement 5% (48)Refinancing 13% (129)Cash-out refinancing 18% (187)Other purpose 7% (74)
By type
Conventional 74% (751)FHA 16% (158)VA 6% (59)USDA 5% (50)
Trend by year
ApplicationsOriginations
This countyMaryland
Questions and answers
Which lenders are most active in Allegany County, MD?
By 2024 originations: First Peoples Cfcu (134), ALCOVA Mortgage, LLC (125), Chessie Federal Credit Union (76), First United Bank & Trust (57), M&T Bank (55). 17 lenders had at least 25 applications in the county.
What is the mortgage denial rate in Allegany County?
21.2% of decided applications were denied in 2024, against 24.9% across Maryland and 24.3% nationally.
How many mortgages were originated in Allegany County in 2024?
1,018 loans totalling $143m, from 1,603 applications; 37.2 originations per 1,000 households.
Where does this data come from?
From the 2024 public HMDA loan/application register (FFIEC and CFPB), by property county; households from the Census Bureau American Community Survey 2024 five-year estimates.
Provenance
Source: HMDA public loan/application register 2022, 2023, 2024 (FFIEC and CFPB, public domain), records with a property in county FIPS 24001; households and population from the U.S. Census Bureau (ACS 2024 five-year estimates; Vintage 2024 population estimates). Built 30 Sep 2026; data through 1 Aug 2026. See methodology and corrections.