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| $5,279,183,286,000 in Mortgage Loans Applied for in 2007 from 26,605,695 Applications |
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Iron County MI
Mortgage Loan Application
Totals and Details
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| Location |
Iron County MI
• Apply Here |
| Year | 2007 |
| Data Years (click a year for detail) | 2003 2004 2005 2006 2007 |
| Total Number of Mortgage Applications | 743 |
| Total Amount of All Mortgage Loans Applied For | $63,715,000 |
| Average Mortgage Loan Amount Applied For | $85,000 |
| Highest Mortgage Loan Amount Applied For | $1,000,000 |
| Average Applicant Income | $63,000 |
| Highest Applicant Income | $750,000 |
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| Home Improvement |
85 | $4,277,000 |
$50,000 | $402,000 |
$57,000 | $283,000 |
| Home Purchase |
199 | $19,248,000 |
$96,000 | $540,000 |
$90,000 | $750,000 |
| Refinancing |
459 | $40,190,000 |
$87,000 | $1,000,000 |
$52,000 | $527,000 |
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| American Indian or Alaskan Native |
5 | $379,000 |
$75,000 | $220,000 |
$54,000 | $93,000 |
| Asian |
5 | $299,000 |
$59,000 | $85,000 |
$51,000 | $140,000 |
| Black or African American |
2 | $79,000 |
$39,000 | $44,000 |
$23,000 | $28,000 |
| Hispanic |
2 | $217,000 |
$108,000 | $214,000 |
$59,000 | $64,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
32 | $4,336,000 |
$135,000 | $480,000 |
$20,000 | $269,000 |
| Not Provided |
62 | $6,656,000 |
$107,000 | $346,000 |
$54,000 | $284,000 |
| White |
635 | $51,749,000 |
$81,000 | $1,000,000 |
$66,000 | $750,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
701 | $60,112,000 |
$85,000 | $1,000,000 |
$65,000 | $750,000 |
| FHA-insured (Federal Housing Administration) |
35 | $2,999,000 |
$85,000 | $203,000 |
$34,000 | $101,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
4 | $286,000 |
$71,000 | $130,000 |
$22,000 | $35,000 |
| VA-guaranteed (Veterans Administration) |
3 | $318,000 |
$106,000 | $189,000 |
$47,000 | $86,000 |
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| Application Approved But Not Accepted |
39 | $4,053,000 |
$103,000 | $346,000 |
$70,000 | $216,000 |
| Application Denied By Financial Institution |
132 | $9,160,000 |
$69,000 | $448,000 |
$47,000 | $284,000 |
| Application Withdrawn By Applicant |
68 | $7,704,000 |
$113,000 | $1,000,000 |
$68,000 | $527,000 |
| File Closed For Incompleteness |
21 | $1,762,000 |
$83,000 | $203,000 |
$51,000 | $114,000 |
| Loan Originated |
416 | $32,431,000 |
$77,000 | $540,000 |
$67,000 | $750,000 |
| Loan Purchased By The Institution |
67 | $8,605,000 |
$128,000 | $540,000 |
$64,000 | $750,000 |
| Preapproval Approved but not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Denied by Financial Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Collateral |
10 | $1,384,000 |
$138,000 | $448,000 |
$132,000 | $284,000 |
| Credit Application Incomplete |
5 | $230,000 |
$46,000 | $77,000 |
$51,000 | $168,000 |
| Credit History |
22 | $896,000 |
$40,000 | $142,000 |
$34,000 | $71,000 |
| Debt-To-Income Ratio |
9 | $447,000 |
$49,000 | $120,000 |
$31,000 | $71,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
4 | $347,000 |
$86,000 | $181,000 |
$84,000 | $139,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Companies for
Iron County MI in 2007
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