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Franklin County, Virginia
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.
Franklin County, Virginia, saw 2,153 HMDA-reported applications and 1,278 originations ($346m) in 2024.
That is 55.6 originations per 1,000 households, against 54.4 for Virginia and 48.0 nationally.
The county's denial rate was 24.4%, above the state rate of 22.1%. The median rate spread on originated loans was 0.4 percentage points and 14.9% of originations were 1.5 points or more above the average prime offer rate.
22 lenders reached 25 applications in the county; the most active by originations were Rocket Mortgage (100), Member One Federal Credit Union (85) and CNB Bank (81).
Originations were up 15% on 2023.
Most active lenders
| # | Lender | Applications | Originations | Amount | Denial rate | Median spread |
|---|---|---|---|---|---|---|
| 1 | Rocket Mortgage | 135 | 100 | $30m | 19.0% | — |
| 2 | Member One Federal Credit Union | 150 | 85 | $7.5m | 38.3% | — |
| 3 | CNB Bank | 86 | 81 | $30m | 1.2% | — |
| 4 | Atlantic Union Bank | 110 | 69 | $18m | 30.4% | — |
| 5 | Atlantic Bay Mortgage Group | 79 | 66 | $17m | 1.5% | — |
| 6 | Truist Bank | 113 | 59 | $12m | 42.5% | — |
| 7 | Freedom First Federal Credit Union | 70 | 52 | $15m | 14.8% | — |
| 8 | Bank of Botetourt | 46 | 43 | $18m | 0.0% | — |
| 9 | United Wholesale Mortgage | 53 | 39 | $11m | 13.0% | — |
| 10 | ALCOVA Mortgage, LLC | 49 | 39 | $12m | 4.3% | — |
| 11 | Movement Mortgage, LLC | 38 | 28 | $10m | 2.9% | — |
| 12 | SWBC Mortgage Corporation | 33 | 26 | $5.7m | 16.1% | — |
| 13 | Union Home Mortgage Corp. | 28 | 24 | $5.8m | — | — |
| 14 | Guaranteed Rate, Inc. | 36 | 22 | $6.0m | 14.8% | — |
| 15 | Valleystar Credit Union | 42 | 21 | $2.6m | 41.7% | — |
| 16 | Mortgage Research Center | 37 | 20 | $7.6m | 20.0% | — |
| 17 | First Ciitizens Bank and Trust | 27 | 20 | $6.5m | 15.4% | — |
| 18 | Carter Bank and Trust | 28 | 19 | $2.4m | 15.4% | — |
| 19 | First Horizon Bank | 25 | 16 | $1.7m | 28.0% | — |
| 20 | Navy Federal Credit Union | 29 | 15 | $3.7m | — | — |
| 21 | Vanderbilt Mortgage and Finance, Inc | 107 | 12 | $1.8m | 74.5% | — |
| 22 | Discover Bank | 37 | 11 | $825k | — | — |
Lenders with at least 25 applications in the county, by originations; up to 40 shown of 22. Denial rate is denials over decided applications in this county.
Compared with Virginia and the nation
| Measure | This county | Virginia | United States |
|---|---|---|---|
| Denial rate | 24.4% | 22.1% | 24.3% |
| Median rate spread, pp | 0.4 | 0.3 | 0.3 |
| Originations with spread of 1.5 pp or more | 14.9% | 16.5% | 15.6% |
| Average originated loan | $270k | $352k | $329k |
| Originations per 1,000 households | 55.6 | 54.4 | 48.0 |
| Home purchase share of originations | 51.7% | 55.8% | 57.0% |
| FHA-insured share | 13.5% | 11.7% | 13.4% |
| VA-guaranteed share | 6.8% | 16.4% | 7.9% |
Rate spread distribution
Share of 1,150 originated loans with a reported rate spread, by spread over the average prime offer rate (outlined bar: Virginia). 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 52% (661)Home improvement 10% (122)Refinancing 13% (161)Cash-out refinancing 12% (154)Other purpose 14% (180)
By type
Conventional 78% (998)FHA 14% (173)VA 7% (87)USDA 2% (20)
Trend by year
ApplicationsOriginations
This countyVirginia
Questions and answers
Which lenders are most active in Franklin County, VA?
By 2024 originations: Rocket Mortgage (100), Member One Federal Credit Union (85), CNB Bank (81), Atlantic Union Bank (69), Atlantic Bay Mortgage Group (66). 22 lenders had at least 25 applications in the county.
What is the mortgage denial rate in Franklin County?
24.4% of decided applications were denied in 2024, against 22.1% across Virginia and 24.3% nationally.
How many mortgages were originated in Franklin County in 2024?
1,278 loans totalling $346m, from 2,153 applications; 55.6 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 51067; 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.