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Herkimer County, New York · 2025

Mortgage lenders in Herkimer County, NY: denial rates and top lenders (2025)

120 lenders acted on 1,694 mortgage applications for properties in Herkimer County in 2025. 21.6% were denied (New York: 19.8%). Median rate on closed loans 6.50%; median loan $105,000; median property value $195,000.

1.7kApplications
21.6%Denial ratestate 19.8%
6.50%Median ratestate 6.63%
$105,000Median loan
$195,000Median property value

Largest lenders in Herkimer County

#LenderGradeApplicationsOriginatedDenial rateMedian rate
1 First Source D 315235 15.9%6.74%
2 AMERICU Credit Union C 191124 23.6%6.13%
3 G.P.O. Federal Credit Union C 16194 37.3%3.99%
4 Manufacturers and Traders Trust C 10156 34.7%5.99%
5 Rocket Mortgage C 9161 27.5%6.88%
6 Adirondack Bank D 8456 19.1%7.00%
7 NBT Bank B 5133 21.6%4.99%
8 Citizens Bank C 4318 32.6%8.90%
9 Homestead Funding A 3832 2.6%6.49%
10 Sefcu Services A 3531 2.9%6.50%
11 21st Mortgage F 322 37.5%10.38%
12 Kiavi Funding D 326 3.1%10.88%
13 Community Bank D 3225 12.5%7.00%
14 Homebridge Financial Services B 3226 15.6%5.93%
15 Newrez D 2312 17.4%6.62%
16 Empower Federal Credit Union B 2211 36.4%6.75%
17 Plaza Home Mortgage C 2215 27.3%6.38%
18 Movement Mortgage A 2013 20.0%6.50%
19 Mortgage Research Center C 1713 11.8%6.63%
20 Loandepot.Com D 178 29.4%7.12%
21 Premium Mortgage A 1715 0.0%6.62%
22 Navy Federal Credit Union D 165 31.3%6.13%
23 Utica Gas & Electric Federal Credit Union – 1212 0.0%6.56%
24 Nationstar Mortgage C 128 8.3%7.00%
25 Discover Bank F 111 45.5%7.85%

Best approval odds in Herkimer County

Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.

#LenderDecidedDecision denial rate
1First Source29117.2%
2Adirondack Bank7222.2%
3AMERICU Credit Union16926.6%
4Rocket Mortgage8728.7%
5Manufacturers and Traders Trust9238.0%
6G.P.O. Federal Credit Union15738.2%

What Herkimer County borrowers applied for

By loan purpose

Home purchase 683 40% · 14.4% denied
Refinance 253 15% · 19.0% denied
Cash-out refinance 150 9% · 24.0% denied
Home improvement 371 22% · 28.6% denied
Other / HELOC 237 14% · 32.9% denied

By loan type

Conventional 1,429 84% · 22.5% denied
FHA 195 12% · 17.4% denied
VA 57 3% · 10.5% denied
USDA / RHS 13 1% · 38.5% denied

Why applications were denied

Debt-to-income ratio 96 26%
Credit history 78 21%
Collateral 62 17%
Incomplete application 61 17%
Other 32 9%
Unverifiable information 14 4%
Employment history 11 3%
Insufficient cash 11 3%

Herkimer County by year

YearApplicationsOriginatedDenial rateMedian rateMedian loan
20231,50298319.6%6.50%$105,000
20241,53795122.2%6.75%$105,000
20251,6941,04321.6%6.50%$105,000

Frequently asked questions

21.6% of applications in Herkimer County were denied in 2025, against 19.8% statewide in New York.

First Source, with 315 applications in 2025 and a denial rate of 15.9%.

The median mortgage application in Herkimer County in 2025 was for $105,000; the median property value on originated loans was $195,000.