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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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FIRST BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
FIRST BANK |
| Address | 112 WEST KING STREET
STRASBURG, VA 22657 |
| Agency | Federal Reserve System (FRS) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 395 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $51,940,000 |
| Average Mortgage Loan Amount Applied For | $167,411 |
| Highest Mortgage Loan Amount Applied For | $2,000,000 |
| Average Applicant Income | $87,764 |
| Highest Applicant Income | $2,462,000 |
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| Home Improvement |
119 | $3,729,000 |
$31,000 | $252,000 |
$48,000 | $136,000 |
| Home Purchase |
131 | $27,006,000 |
$206,000 | $2,000,000 |
$104,000 | $2,462,000 |
| Refinancing |
145 | $21,205,000 |
$146,000 | $2,000,000 |
$61,000 | $406,000 |
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| American Indian or Alaskan Native |
2 | $65,000 |
$32,000 | $50,000 |
$47,000 | $54,000 |
| Asian |
2 | $306,000 |
$153,000 | $206,000 |
$57,000 | $64,000 |
| Black or African American |
1 | $136,000 |
$136,000 | $136,000 |
$50,000 | $50,000 |
| Hispanic |
10 | $996,000 |
$99,000 | $235,000 |
$53,000 | $73,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
25 | $9,163,000 |
$366,000 | $2,000,000 |
$33,000 | $704,000 |
| Not Provided |
0 | $0 |
$0 | $0 |
$0 | $0 |
| White |
355 | $41,274,000 |
$116,000 | $1,000,000 |
$75,000 | $2,462,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
395 | $51,940,000 |
$131,000 | $2,000,000 |
$71,000 | $2,462,000 |
| FHA-insured (Federal Housing Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Application Approved But Not Accepted |
15 | $2,008,000 |
$133,000 | $511,000 |
$54,000 | $115,000 |
| Application Denied By Financial Institution |
44 | $3,889,000 |
$88,000 | $375,000 |
$50,000 | $446,000 |
| Application Withdrawn By Applicant |
33 | $6,350,000 |
$192,000 | $1,000,000 |
$72,000 | $636,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
303 | $39,693,000 |
$131,000 | $2,000,000 |
$75,000 | $2,462,000 |
| 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 |
5 | $465,000 |
$93,000 | $219,000 |
$53,000 | $98,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
23 | $1,472,000 |
$64,000 | $185,000 |
$37,000 | $78,000 |
| Debt-To-Income Ratio |
12 | $1,082,000 |
$90,000 | $303,000 |
$73,000 | $446,000 |
| 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 | $870,000 |
$217,000 | $375,000 |
$51,000 | $62,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for FIRST BANK by:
Metropolitan Area And
County
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