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Cherokee County, North Carolina
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.
Lenders reported 1,344 mortgage applications in Cherokee County, North Carolina, for 2024, and originated 805 loans worth $162m.
That is 60.8 originations per 1,000 households, against 60.0 for North Carolina and 48.0 nationally.
The county's denial rate was 22.1%, close to the state rate of 24.0%. The median rate spread on originated loans was 0.4 percentage points and 13.1% of originations were 1.5 points or more above the average prime offer rate.
13 lenders reached 25 applications in the county; the most active by originations were United Community Bank (89), Union Home Mortgage Corp. (87) and Rocket Mortgage (75).
Originations were up 9% on 2023.
Most active lenders
| # | Lender | Applications | Originations | Amount | Denial rate | Median spread |
|---|---|---|---|---|---|---|
| 1 | United Community Bank | 119 | 89 | $13m | 17.0% | — |
| 2 | Union Home Mortgage Corp. | 103 | 87 | $17m | 3.3% | — |
| 3 | Rocket Mortgage | 98 | 75 | $15m | 14.1% | — |
| 4 | State Employees' Credit Union | 106 | 59 | $8.1m | 29.8% | — |
| 5 | The Central Trust Bank | 50 | 40 | $9.0m | 0.0% | — |
| 6 | United Wholesale Mortgage | 33 | 22 | $7.2m | 20.7% | — |
| 7 | Vanderbilt Mortgage and Finance, Inc | 44 | 21 | $3.8m | 24.1% | — |
| 8 | Navy Federal Credit Union | 31 | 19 | $3.2m | — | — |
| 9 | First Ciitizens Bank and Trust | 41 | 17 | $2.1m | 48.6% | — |
| 10 | Truist Bank | 37 | 13 | $1.9m | 51.5% | — |
| 11 | PNC Bank N.A. | 26 | 13 | $1.3m | — | — |
| 12 | Mortgage Research Center | 35 | 12 | $2.8m | — | — |
| 13 | Discover Bank | 36 | 7 | $595k | 70.4% | — |
Lenders with at least 25 applications in the county, by originations; up to 40 shown of 13. Denial rate is denials over decided applications in this county.
Compared with North Carolina and the nation
| Measure | This county | North Carolina | United States |
|---|---|---|---|
| Denial rate | 22.1% | 24.0% | 24.3% |
| Median rate spread, pp | 0.4 | 0.2 | 0.3 |
| Originations with spread of 1.5 pp or more | 13.1% | 11.8% | 15.6% |
| Average originated loan | $201k | $299k | $329k |
| Originations per 1,000 households | 60.8 | 60.0 | 48.0 |
| Home purchase share of originations | 53.5% | 56.3% | 57.0% |
| FHA-insured share | 7.6% | 11.8% | 13.4% |
| VA-guaranteed share | 12.5% | 11.8% | 7.9% |
Rate spread distribution
Share of 755 originated loans with a reported rate spread, by spread over the average prime offer rate (outlined bar: North Carolina). 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 54% (431)Home improvement 12% (93)Refinancing 12% (93)Cash-out refinancing 14% (114)Other purpose 9% (74)
By type
Conventional 80% (641)FHA 8% (61)VA 13% (101)USDA 0% (2)
Trend by year
ApplicationsOriginations
This countyNorth Carolina
Questions and answers
Which lenders are most active in Cherokee County, NC?
By 2024 originations: United Community Bank (89), Union Home Mortgage Corp. (87), Rocket Mortgage (75), State Employees' Credit Union (59), The Central Trust Bank (40). 13 lenders had at least 25 applications in the county.
What is the mortgage denial rate in Cherokee County?
22.1% of decided applications were denied in 2024, against 24.0% across North Carolina and 24.3% nationally.
How many mortgages were originated in Cherokee County in 2024?
805 loans totalling $162m, from 1,344 applications; 60.8 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 37039; 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.