Virginia Mortgage Lenders & HMDA Data, 2024

In 2024, lenders reported 349,598 mortgage applications in Virginia totaling $111.0 billion, up 13% from 2023. The average application was for $317,000, and applicants reported an average income of $148,000. 52% of applications resulted in an originated loan and 15% were denied. The most active lenders were Navy Federal Credit Union (19,392 applications), PennyMac Loan Services LLC and Freedom Mortgage Corporation.

See the top mortgage lenders in Virginia, browse lending by metro area and by county, or see the mortgage lenders headquartered in Virginia and Virginia lenders by city.

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Whether you're an industry analyst, homebuyer, or researcher, this data provides valuable insights into Virginia's mortgage market trends.

Years 2025  2024  2023  2022  2021  2020  2019  2018  2017  2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 349,598
Total Mortgage Loan Application Amount $110,953,470,000
Average Mortgage Loan Application Amount $317,000
Highest Mortgage Loan Application Amount $98,505,000
Average Applicant Income $148,000
Highest Applicant Income $9,550,000

Top 25 Mortgage Lenders in Virginia (2024)

Ranked by the number of mortgage applications each lender received for properties in Virginia in 2024, wherever the lender is based. For lenders headquartered in the state, see the full list of Virginia mortgage companies. For the lenders that made the most loans here in 2025, with the top FHA, VA, purchase and refinance lenders, see top mortgage lenders in Virginia.

# Mortgage Lender Mortgage Applications Total Dollar Amount Average Loan Amount Average Applicant Income
1 Navy Federal Credit Union
Vienna, VA
19,392 $4,096,560,000 $211,250 $153,359
2 PennyMac Loan Services LLC
Westlake Village, CA
14,158 $5,086,200,000 $359,245 $143,331
3 Freedom Mortgage Corporation
Boca Raton, FL
13,295 $5,562,085,000 $418,359 $131,342
4 Truist Bank
Raleigh, NC
12,681 $3,051,905,000 $240,667 $156,877
5 United Wholesale Mortgage
Plymouth, MI
10,612 $4,032,040,000 $379,950 $135,627
6 Newrez LLC
Fort Washington, PA
9,600 $3,669,290,000 $382,217 $133,568
7 Mortgage Research Center
Columbia, MO
7,242 $2,713,130,000 $374,638 $118,991
8 Bank of America NA
Westlake Village, CA
6,853 $1,394,645,000 $203,508 $169,325
9 Discover Bank
Greenwood, DE
6,424 $581,820,000 $90,569 $147,173
10 Vanderbilt Mortgage and Finance, Inc
Maryville, TN
5,969 $829,845,000 $139,025 $71,045
11 Movement Mortgage, LLC
Indian Land, SC
5,581 $1,872,665,000 $335,542 $127,382
12 Atlantic Bay Mortgage Group
Virginia Beach, VA
5,369 $1,689,465,000 $314,670 $125,823
13 Amerihome Mortgage Company, LLC
Thousand Oaks, CA
4,894 $1,752,990,000 $358,191 $135,362
14 Atlantic Union Bank
Glen Allen, VA
4,457 $888,625,000 $199,377 $134,264
15 Virginia Federal Credit Union
Richmond, VA
4,376 $749,730,000 $171,327 $127,050
16 Atlantic Coast Mortgage, LLC
Fairfax, VA
3,919 $1,618,645,000 $413,025 $158,271
17 NVR Mortgage Finance, Inc.
Pittsburgh, PA
3,652 $1,476,710,000 $404,356 $136,980
18 Nationstar Mortgage
Coppell, TX
3,624 $1,013,140,000 $279,564 $122,605
19 loanDepot.com LLC
Irvine, CA
3,585 $957,975,000 $267,217 $126,591
20 Amerisave Mortgage Company
Sandy Springs, GA
3,443 $654,985,000 $190,236 $115,203
21 Village Capital & Investment
Henderson, NV
3,129 $1,271,525,000 $406,367 $62,045
22 PNC Bank N.A.
Pittsburgh, PA
3,108 $883,905,000 $284,396 $168,328
23 First Heritage Mortgage, LLC
Fairfax, VA
3,108 $1,480,280,000 $476,280 $184,016
24 Spring Eq, LLC
Conshohocken, PA
3,073 $305,465,000 $99,402 $117,708
25 Figure Lending LLC
San Francisco, CA
3,063 $236,945,000 $77,357 $140,371

The tables below break down 2024 mortgage applications in Virginia by loan purpose, applicant race, loan type, outcome and denial reason, followed by totals for every metro area and county. Click a column heading to sort.

Download the Virginia Lender List

Mortgage Loan Application Detail Totals for Virginia in 2024

Loan Purpose

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Home Purchase 178,097 $72,119,905,000 $404,000 $87,925,000 $154,000 $9,000,000
Cash-out Refinancing 51,229 $13,869,890,000 $270,000 $82,715,000 $123,000 $9,495,000
Other Purpose 43,005 $4,654,005,000 $108,000 $10,445,000 $142,000 $8,870,000
Refinancing 40,408 $16,030,875,000 $396,000 $98,505,000 $156,000 $8,771,000
Home Improvement 36,399 $4,196,435,000 $115,000 $63,315,000 $154,000 $7,410,000
Not Applicable 460 $82,360,000 $179,000 $11,765,000 $215,000 $9,550,000

Applicant Race

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
White 159,219 $44,077,015,000 $276,000 $12,005,000 $149,000 $9,550,000
Not Provided 48,798 $15,480,170,000 $317,000 $7,385,000 $156,000 $8,778,000
Not applicable 44,574 $21,637,815,000 $485,000 $98,505,000 $151,000 $2,807,000
Black or African American 44,392 $11,195,420,000 $252,000 $6,455,000 $117,000 $9,495,000
Asian 25,381 $10,756,950,000 $423,000 $10,445,000 $193,000 $8,771,000
Hispanic 24,725 $7,155,835,000 $289,000 $3,075,000 $131,000 $8,073,000
American Indian or Alaskan Native 1,938 $485,340,000 $250,000 $2,505,000 $129,000 $5,631,000
Native Hawaiian or Other Pacific Islander 541 $158,635,000 $293,000 $5,505,000 $156,000 $2,920,000

Loan Type

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Conventional (any loan other than FHA, VA, FSA, or RHS loans) 240,469 $68,901,615,000 $286,000 $98,505,000 $160,000 $9,550,000
VA-guaranteed (Veterans Administration) 60,232 $26,560,970,000 $440,000 $7,385,000 $132,000 $2,431,000
FHA-insured (Federal Housing Administration) 46,874 $15,059,370,000 $321,000 $71,195,000 $96,000 $1,650,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 2,023 $431,515,000 $213,000 $595,000 $77,000 $922,000

Outcome

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Loan Originated 182,423 $61,000,295,000 $334,000 $93,195,000 $155,000 $9,000,000
Application Denied By Financial Institution 54,116 $11,020,660,000 $203,000 $98,505,000 $120,000 $8,778,000
Application Withdrawn By Applicant 44,207 $15,367,845,000 $347,000 $80,005,000 $154,000 $9,550,000
Loan Purchased By The Institution 41,282 $16,561,420,000 $401,000 $39,005,000 $156,000 $2,807,000
File Closed For Incompleteness 18,369 $4,504,675,000 $245,000 $4,805,000 $141,000 $9,495,000
Application Approved But Not Accepted 8,595 $2,234,625,000 $259,000 $8,015,000 $148,000 $8,870,000
Preapproval Approved but not Accepted 429 $191,385,000 $446,000 $3,455,000 $165,000 $3,168,000
Preapproval Denied by Financial Institution 177 $72,565,000 $409,000 $2,295,000 $119,000 $478,000

Denial Reason

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Not applicable 291,721 $98,441,405,000 $337,000 $93,195,000 $154,000 $9,550,000
Debt-To-Income Ratio 20,321 $4,834,715,000 $237,000 $80,005,000 $100,000 $3,859,000
Credit History 14,554 $2,250,280,000 $154,000 $5,585,000 $124,000 $8,434,000
Credit Application Incomplete 7,932 $1,552,350,000 $195,000 $3,315,000 $142,000 $8,778,000
Collateral 6,176 $1,481,240,000 $239,000 $63,315,000 $149,000 $7,410,000
Other 4,694 $1,334,960,000 $284,000 $98,505,000 $154,000 $5,919,000
Unverifiable Information 2,642 $581,110,000 $219,000 $1,955,000 $109,000 $2,760,000
Insufficient Cash (Downpayment, Closing Cost) 1,061 $349,475,000 $329,000 $3,005,000 $128,000 $2,199,000
Employment History 490 $125,230,000 $255,000 $1,475,000 $89,000 $1,220,000
Mortgage Insurance Denied 7 $2,705,000 $386,000 $775,000 $191,000 $296,000
Download the Virginia Lender List

Mortgage Loan Application Totals in 2024 by Virginia Metropolitan Area

Metro Area Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
Arlington-Alexandria-Reston, VA-WV 113,161 $ 49,924,060,000 $ 441,000 $ 198,000
Blacksburg-Christiansburg-Radford, VA 5,209 $ 1,164,995,000 $ 223,000 $ 116,000
Charlottesville, VA 8,308 $ 2,733,520,000 $ 329,000 $ 169,000
Harrisonburg, VA 3,963 $ 1,003,155,000 $ 253,000 $ 124,000
Lynchburg, VA 10,479 $ 2,291,605,000 $ 218,000 $ 110,000
Richmond, VA 58,819 $ 16,563,145,000 $ 281,000 $ 134,000
Roanoke, VA 12,543 $ 2,658,905,000 $ 211,000 $ 115,000
Staunton-Waynesboro, VA 5,357 $ 1,130,745,000 $ 211,000 $ 98,000
Virginia Beach-Norfolk-Newport News, VA-NC 82,459 $ 22,877,360,000 $ 277,000 $ 124,000
Winchester, VA-WV 6,155 $ 1,747,825,000 $ 283,000 $ 130,000
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Mortgage Loan Application Totals in 2024 by Virginia County

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
Accomack 1,350 $ 298,930,000 $ 221,000 $ 112,000
Albemarle 4,106 $ 1,555,980,000 $ 378,000 $ 189,000
Alexandria 4,388 $ 2,377,240,000 $ 542,000 $ 227,000
Alleghany 434 $ 64,050,000 $ 147,000 $ 87,000
Amelia 585 $ 133,455,000 $ 228,000 $ 101,000
Amherst 1,205 $ 232,225,000 $ 192,000 $ 95,000
Appomattox 751 $ 151,325,000 $ 201,000 $ 91,000
Arlington 4,720 $ 3,095,665,000 $ 656,000 $ 284,000
Augusta 3,048 $ 636,190,000 $ 208,000 $ 101,000
Bath 88 $ 16,940,000 $ 192,000 $ 124,000
Bedford 3,579 $ 880,675,000 $ 246,000 $ 122,000
Bedford City n/a $ n/a $ n/a $ n/a
Bland 178 $ 25,230,000 $ 141,000 $ 83,000
Botetourt 1,362 $ 294,340,000 $ 216,000 $ 115,000
Bristol 649 $ 99,875,000 $ 153,000 $ 80,000
Brunswick 421 $ 82,535,000 $ 196,000 $ 112,000
Buchanan 263 $ 28,495,000 $ 108,000 $ 77,000
Buckingham 601 $ 106,655,000 $ 177,000 $ 86,000
Buena Vista 215 $ 31,585,000 $ 146,000 $ 76,000
Campbell 2,151 $ 456,645,000 $ 212,000 $ 97,000
Caroline 2,324 $ 593,680,000 $ 255,000 $ 101,000
Carroll 1,060 $ 173,890,000 $ 164,000 $ 90,000
Charles City 320 $ 71,120,000 $ 222,000 $ 98,000
Charlotte 306 $ 46,730,000 $ 152,000 $ 77,000
Charlottesville 1,002 $ 383,080,000 $ 382,000 $ 222,000
Chesapeake 13,198 $ 3,908,580,000 $ 296,000 $ 129,000
Chesterfield 18,913 $ 5,476,370,000 $ 289,000 $ 134,000
Clarke 622 $ 195,910,000 $ 314,000 $ 168,000
Colonial Heights 846 $ 166,580,000 $ 196,000 $ 94,000
Covington 165 $ 17,865,000 $ 108,000 $ 82,000
Craig 142 $ 27,150,000 $ 191,000 $ 91,000
Culpeper 2,576 $ 823,340,000 $ 319,000 $ 135,000
Cumberland 506 $ 102,020,000 $ 201,000 $ 93,000
Danville 1,242 $ 197,410,000 $ 158,000 $ 83,000
Dickenson 248 $ 28,590,000 $ 115,000 $ 79,000
Dinwiddie 1,330 $ 279,690,000 $ 210,000 $ 92,000
Emporia 151 $ 28,585,000 $ 189,000 $ 72,000
Essex 516 $ 105,600,000 $ 204,000 $ 105,000
Fairfax 34,631 $ 17,077,055,000 $ 493,000 $ 227,000
Fairfax City 843 $ 382,125,000 $ 453,000 $ 194,000
Falls Church 292 $ 169,020,000 $ 578,000 $ 277,000
Fauquier 3,344 $ 1,268,060,000 $ 379,000 $ 180,000
Floyd 463 $ 83,035,000 $ 179,000 $ 91,000
Fluvanna 1,502 $ 340,420,000 $ 226,000 $ 110,000
Franklin 2,361 $ 595,795,000 $ 252,000 $ 142,000
Franklin City 398 $ 79,880,000 $ 200,000 $ 90,000
Frederick 5,195 $ 1,486,685,000 $ 286,000 $ 130,000
Fredericksburg 908 $ 307,370,000 $ 338,000 $ 159,000
Galax 246 $ 34,350,000 $ 139,000 $ 71,000
Giles 522 $ 82,990,000 $ 158,000 $ 94,000
Gloucester 2,011 $ 486,305,000 $ 241,000 $ 109,000
Goochland 1,377 $ 509,305,000 $ 369,000 $ 186,000
Grayson 398 $ 55,610,000 $ 139,000 $ 83,000
Greene 981 $ 262,065,000 $ 267,000 $ 118,000
Greensville 261 $ 38,495,000 $ 147,000 $ 74,000
Halifax 864 $ 133,170,000 $ 154,000 $ 85,000
Hampton 6,814 $ 1,530,140,000 $ 224,000 $ 96,000
Hanover 5,158 $ 1,483,130,000 $ 287,000 $ 146,000
Harrisonburg 960 $ 251,370,000 $ 261,000 $ 121,000
Henrico 13,604 $ 3,767,340,000 $ 276,000 $ 140,000
Henry 1,611 $ 233,195,000 $ 144,000 $ 76,000
Highland 73 $ 17,235,000 $ 236,000 $ 125,000
Hopewell 1,186 $ 214,570,000 $ 180,000 $ 75,000
Isle of Wight 2,376 $ 652,830,000 $ 274,000 $ 128,000
James City 3,820 $ 1,162,245,000 $ 304,000 $ 155,000
King and Queen 318 $ 67,330,000 $ 211,000 $ 102,000
King George 1,613 $ 512,775,000 $ 317,000 $ 138,000
King William 1,066 $ 242,870,000 $ 227,000 $ 100,000
Lancaster 587 $ 179,045,000 $ 305,000 $ 198,000
Lee 598 $ 79,440,000 $ 132,000 $ 82,000
Lexington 99 $ 20,845,000 $ 210,000 $ 106,000
Loudoun 18,708 $ 9,011,920,000 $ 481,000 $ 222,000
Louisa 2,651 $ 759,875,000 $ 286,000 $ 136,000
Lunenburg 378 $ 66,510,000 $ 175,000 $ 97,000
Lynchburg 2,793 $ 570,735,000 $ 204,000 $ 114,000
Madison 566 $ 147,690,000 $ 260,000 $ 119,000
Manassas 1,499 $ 487,940,000 $ 325,000 $ 152,000
Manassas Park 774 $ 320,290,000 $ 413,000 $ 123,000
Martinsville 507 $ 69,905,000 $ 137,000 $ 70,000
Mathews 479 $ 124,475,000 $ 259,000 $ 135,000
Mecklenburg 1,146 $ 249,760,000 $ 217,000 $ 124,000
Middlesex 582 $ 145,670,000 $ 250,000 $ 140,000
Montgomery 2,492 $ 685,340,000 $ 275,000 $ 142,000
Nelson 717 $ 191,975,000 $ 267,000 $ 186,000
New Kent 1,885 $ 551,175,000 $ 292,000 $ 132,000
Newport News 7,458 $ 1,804,080,000 $ 241,000 $ 98,000
Norfolk 9,742 $ 2,682,400,000 $ 275,000 $ 119,000
Northampton 638 $ 203,730,000 $ 319,000 $ 183,000
Northumberland 766 $ 193,780,000 $ 252,000 $ 133,000
Norton 82 $ 10,330,000 $ 125,000 $ 74,000
Nottoway 530 $ 94,130,000 $ 177,000 $ 83,000
Orange 2,389 $ 667,635,000 $ 279,000 $ 118,000
Page 997 $ 209,525,000 $ 210,000 $ 108,000
Patrick 566 $ 96,540,000 $ 170,000 $ 85,000
Petersburg 1,662 $ 447,260,000 $ 269,000 $ 78,000
Pittsylvania 1,655 $ 276,965,000 $ 167,000 $ 83,000
Poquoson 799 $ 258,845,000 $ 323,000 $ 143,000
Portsmouth 5,796 $ 1,243,040,000 $ 214,000 $ 92,000
Powhatan 1,462 $ 411,180,000 $ 281,000 $ 144,000
Prince Edward 696 $ 129,770,000 $ 186,000 $ 93,000
Prince George 1,546 $ 361,060,000 $ 233,000 $ 99,000
Prince William 20,323 $ 7,690,940,000 $ 378,000 $ 165,000
Pulaski 1,305 $ 220,665,000 $ 169,000 $ 92,000
Radford 427 $ 92,965,000 $ 217,000 $ 99,000
Rappahannock 268 $ 109,740,000 $ 409,000 $ 255,000
Richmond 298 $ 58,800,000 $ 197,000 $ 101,000
Richmond City 7,205 $ 2,318,640,000 $ 321,000 $ 153,000
Roanoke 4,065 $ 870,195,000 $ 214,000 $ 115,000
Roanoke City 3,739 $ 702,435,000 $ 187,000 $ 100,000
Rockbridge 694 $ 140,630,000 $ 202,000 $ 106,000
Rockingham 3,003 $ 751,785,000 $ 250,000 $ 125,000
Russell 622 $ 89,190,000 $ 143,000 $ 77,000
Salem 874 $ 168,990,000 $ 193,000 $ 106,000
Scott 631 $ 96,345,000 $ 152,000 $ 81,000
Shenandoah 2,144 $ 483,730,000 $ 225,000 $ 120,000
Smyth 707 $ 90,105,000 $ 127,000 $ 78,000
Southampton 700 $ 130,950,000 $ 187,000 $ 99,000
Spotsylvania 8,338 $ 2,799,740,000 $ 335,000 $ 141,000
Stafford 8,664 $ 3,209,860,000 $ 370,000 $ 156,000
Staunton 1,172 $ 239,190,000 $ 204,000 $ 97,000
Suffolk 6,592 $ 1,972,620,000 $ 299,000 $ 126,000
Surry 290 $ 59,790,000 $ 206,000 $ 97,000
Sussex 356 $ 62,070,000 $ 174,000 $ 83,000
Tazewell 894 $ 119,450,000 $ 133,000 $ 77,000
Virginia Beach 19,763 $ 5,993,965,000 $ 303,000 $ 141,000
Warren 2,263 $ 597,845,000 $ 264,000 $ 127,000
Washington 1,695 $ 317,995,000 $ 187,000 $ 104,000
Waynesboro 1,137 $ 255,365,000 $ 224,000 $ 91,000
Westmoreland 1,327 $ 322,445,000 $ 242,000 $ 127,000
Williamsburg 393 $ 108,205,000 $ 275,000 $ 166,000
Winchester 960 $ 261,140,000 $ 272,000 $ 132,000
Wise 806 $ 102,190,000 $ 126,000 $ 78,000
Wythe 1,013 $ 151,805,000 $ 149,000 $ 89,000
York 2,928 $ 889,840,000 $ 303,000 $ 144,000

Our comprehensive HMDA mortgage statistics offer invaluable insights into Virginia's 2024 lending landscape. By analyzing detailed data on mortgage applications, loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can identify key trends shaping the state's housing market.

This in-depth information enables real estate experts, financial analysts, and policymakers to monitor market shifts, assess borrower demographics, and evaluate lender performance effectively. Leverage this powerful data to make informed decisions, conduct thorough market research, and stay ahead in the evolving mortgage industry.
To gain a deeper understanding of Virginia's mortgage lending environment, download the comprehensive list of lenders and their aggregated HMDA statistics today.

Download the Virginia Lender List