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Somerset County, Pennsylvania
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 2,091 mortgage applications in Somerset County, Pennsylvania, for 2024, and originated 1,259 loans worth $167m.
That is 42.9 originations per 1,000 households, against 46.6 for Pennsylvania and 48.0 nationally.
The county's denial rate was 27.2%, above the state rate of 24.2%. The median rate spread on originated loans was 0.2 percentage points and 11.0% of originations were 1.5 points or more above the average prime offer rate.
14 lenders reached 25 applications in the county; the most active by originations were Somerset Trust Company (279), First National Bank of Pa (188) and First Commonwealth Bank (85).
Originations were up 5% on 2023.
Most active lenders
| # | Lender | Applications | Originations | Amount | Denial rate | Median spread |
|---|---|---|---|---|---|---|
| 1 | Somerset Trust Company | 359 | 279 | $27m | 13.9% | — |
| 2 | First National Bank of Pa | 413 | 188 | $24m | 42.5% | — |
| 3 | First Commonwealth Bank | 162 | 85 | $6.9m | 38.5% | — |
| 4 | Rocket Mortgage | 87 | 61 | $8.9m | 22.8% | — |
| 5 | Primelending | 66 | 58 | $7.8m | 4.7% | — |
| 6 | PNC Bank N.A. | 65 | 50 | $7.1m | 10.2% | — |
| 7 | Ameriserv Financial Bank | 59 | 41 | $5.0m | 30.5% | — |
| 8 | Pa State Employees CU | 58 | 41 | $2.2m | 22.6% | — |
| 9 | 1st Summit Bank | 56 | 38 | $6.0m | 14.6% | — |
| 10 | First Peoples Cfcu | 50 | 36 | $5.0m | 20.0% | — |
| 11 | Mortgage Research Center | 39 | 18 | $3.2m | — | — |
| 12 | United Wholesale Mortgage | 27 | 18 | $3.9m | 24.0% | — |
| 13 | Navy Federal Credit Union | 25 | 12 | $2.0m | — | — |
| 14 | 21st Mortgage | 25 | 9 | $1.4m | — | — |
Lenders with at least 25 applications in the county, by originations; up to 40 shown of 14. Denial rate is denials over decided applications in this county.
Compared with Pennsylvania and the nation
| Measure | This county | Pennsylvania | United States |
|---|---|---|---|
| Denial rate | 27.2% | 24.2% | 24.3% |
| Median rate spread, pp | 0.2 | 0.3 | 0.3 |
| Originations with spread of 1.5 pp or more | 11.0% | 14.1% | 15.6% |
| Average originated loan | $133k | $226k | $329k |
| Originations per 1,000 households | 42.9 | 46.6 | 48.0 |
| Home purchase share of originations | 44.6% | 48.7% | 57.0% |
| FHA-insured share | 7.5% | 9.8% | 13.4% |
| VA-guaranteed share | 4.1% | 4.0% | 7.9% |
Rate spread distribution
Share of 1,077 originated loans with a reported rate spread, by spread over the average prime offer rate (outlined bar: Pennsylvania). 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 45% (562)Home improvement 17% (210)Refinancing 17% (215)Cash-out refinancing 6% (78)Other purpose 15% (194)
By type
Conventional 86% (1,078)FHA 7% (94)VA 4% (51)USDA 3% (36)
Trend by year
ApplicationsOriginations
This countyPennsylvania
Questions and answers
Which lenders are most active in Somerset County, PA?
By 2024 originations: Somerset Trust Company (279), First National Bank of Pa (188), First Commonwealth Bank (85), Rocket Mortgage (61), Primelending (58). 14 lenders had at least 25 applications in the county.
What is the mortgage denial rate in Somerset County?
27.2% of decided applications were denied in 2024, against 24.2% across Pennsylvania and 24.3% nationally.
How many mortgages were originated in Somerset County in 2024?
1,259 loans totalling $167m, from 2,091 applications; 42.9 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 42111; households and population from the U.S. Census Bureau (ACS 2024 five-year estimates; Vintage 2024 population estimates). Built 1 Oct 2026; data through 1 Aug 2026. See methodology and corrections.