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| $6,295,214,383,000 in Mortgage Loans Applied for in 2006 from 34,105,441 Applications |
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ADVANTAGE LOANS, INC.
Mortgage Loans and Application Details
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| Mortgage Company Name |
ADVANTAGE LOANS, INC. |
| Address | 937 S. MCPHERSON CHURCH ROAD SUITE 101
FAYETTEVILLE, NC 28303 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 355 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $47,812,000 |
| Average Mortgage Loan Amount Applied For | $181,230 |
| Highest Mortgage Loan Amount Applied For | $532,000 |
| Average Applicant Income | $73,538 |
| Highest Applicant Income | $240,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
328 | $44,897,000 |
$136,000 | $532,000 |
$54,000 | $240,000 |
| Refinancing |
27 | $2,915,000 |
$107,000 | $315,000 |
$67,000 | $159,000 |
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| American Indian or Alaskan Native |
11 | $1,058,000 |
$96,000 | $248,000 |
$60,000 | $92,000 |
| Asian |
3 | $529,000 |
$176,000 | $202,000 |
$95,000 | $143,000 |
| Black or African American |
51 | $7,096,000 |
$139,000 | $256,000 |
$50,000 | $103,000 |
| Hispanic |
39 | $4,981,000 |
$127,000 | $272,000 |
$46,000 | $136,000 |
| Native Hawaiin or Other Pacific Islander |
3 | $498,000 |
$166,000 | $184,000 |
$54,000 | $60,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
6 | $716,000 |
$119,000 | $179,000 |
$82,000 | $194,000 |
| White |
242 | $32,934,000 |
$136,000 | $532,000 |
$56,000 | $240,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
137 | $15,318,000 |
$111,000 | $532,000 |
$54,000 | $240,000 |
| FHA-insured (Federal Housing Administration) |
17 | $1,736,000 |
$102,000 | $167,000 |
$43,000 | $86,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
201 | $30,758,000 |
$153,000 | $350,000 |
$56,000 | $136,000 |
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| Application Approved But Not Accepted |
1 | $94,000 |
$94,000 | $94,000 |
$42,000 | $42,000 |
| Application Denied By Financial Institution |
5 | $1,098,000 |
$219,000 | $532,000 |
$107,000 | $240,000 |
| Application Withdrawn By Applicant |
34 | $4,049,000 |
$119,000 | $300,000 |
$57,000 | $194,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
315 | $42,571,000 |
$135,000 | $350,000 |
$54,000 | $180,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| 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 |
2 | $243,000 |
$121,000 | $180,000 |
$91,000 | $112,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Debt-To-Income Ratio |
2 | $323,000 |
$161,000 | $178,000 |
$57,000 | $58,000 |
| 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 |
1 | $532,000 |
$532,000 | $532,000 |
$240,000 | $240,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for ADVANTAGE LOANS, INC. by:
Metropolitan Area And
County
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