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Cherokee County, South 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.
Cherokee County, South Carolina, saw 1,725 HMDA-reported applications and 883 originations ($172m) in 2024.
That is 40.0 originations per 1,000 households, against 60.2 for South Carolina and 48.0 nationally.
The county's denial rate was 30.1%, above the state rate of 25.2%. The median rate spread on originated loans was 0.5 percentage points and 19.2% 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 First Piedmont Federal Sla (93), Rocket Mortgage (74) and Founders Federal Credit Union (56).
Originations were down 12% on 2023.
Most active lenders
| # | Lender | Applications | Originations | Amount | Denial rate | Median spread |
|---|---|---|---|---|---|---|
| 1 | First Piedmont Federal Sla | 100 | 93 | $13m | 3.1% | — |
| 2 | Rocket Mortgage | 107 | 74 | $13m | 21.3% | — |
| 3 | Founders Federal Credit Union | 92 | 56 | $6.0m | 31.8% | — |
| 4 | Vanderbilt Mortgage and Finance, Inc | 243 | 38 | $5.1m | 69.7% | — |
| 5 | United Wholesale Mortgage | 52 | 37 | $9.0m | 11.9% | — |
| 6 | Ark-La-Tex Financial Services LLC | 33 | 28 | $4.7m | 3.4% | — |
| 7 | Guild Mortgage Company | 38 | 24 | $3.6m | 6.9% | — |
| 8 | Mortgage Research Center | 40 | 23 | $6.0m | 20.7% | — |
| 9 | Freedom Mortgage Corporation | 37 | 23 | $5.5m | 0.0% | — |
| 10 | Primelending | 37 | 23 | $4.2m | 22.6% | — |
| 11 | Inspire Home Loans Inc. | 25 | 18 | $4.0m | — | — |
| 12 | Bank of America NA | 38 | 12 | $1.3m | 60.0% | — |
| 13 | 21st Mortgage | 71 | 11 | $1.4m | 74.4% | — |
| 14 | New American Funding, LLC. | 29 | 7 | $1.2m | — | — |
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 South Carolina and the nation
| Measure | This county | South Carolina | United States |
|---|---|---|---|
| Denial rate | 30.1% | 25.2% | 24.3% |
| Median rate spread, pp | 0.5 | 0.3 | 0.3 |
| Originations with spread of 1.5 pp or more | 19.2% | 15.5% | 15.6% |
| Average originated loan | $195k | $296k | $329k |
| Originations per 1,000 households | 40.0 | 60.2 | 48.0 |
| Home purchase share of originations | 57.5% | 62.8% | 57.0% |
| FHA-insured share | 26.0% | 16.5% | 13.4% |
| VA-guaranteed share | 11.6% | 12.9% | 7.9% |
Rate spread distribution
Share of 813 originated loans with a reported rate spread, by spread over the average prime offer rate (outlined bar: South 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 58% (508)Home improvement 5% (48)Refinancing 9% (79)Cash-out refinancing 16% (142)Other purpose 12% (106)
By type
Conventional 60% (531)FHA 26% (230)VA 12% (102)USDA 2% (20)
Trend by year
ApplicationsOriginations
This countySouth Carolina
Questions and answers
Which lenders are most active in Cherokee County, SC?
By 2024 originations: First Piedmont Federal Sla (93), Rocket Mortgage (74), Founders Federal Credit Union (56), Vanderbilt Mortgage and Finance, Inc (38), United Wholesale Mortgage (37). 14 lenders had at least 25 applications in the county.
What is the mortgage denial rate in Cherokee County?
30.1% of decided applications were denied in 2024, against 25.2% across South Carolina and 24.3% nationally.
How many mortgages were originated in Cherokee County in 2024?
883 loans totalling $172m, from 1,725 applications; 40.0 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 45021; 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.