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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 RATE CAPITAL CORP.
Mortgage Loans and Application Details
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| Mortgage Company Name |
FIRST RATE CAPITAL CORP. |
| Address | 225 BROADHOLLOW ROAD SUITE 132W
MELVILLE, NY 11747 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 741 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $204,873,000 |
| Average Mortgage Loan Amount Applied For | $240,166 |
| Highest Mortgage Loan Amount Applied For | $1,463,000 |
| Average Applicant Income | $108,870 |
| Highest Applicant Income | $2,972,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
726 | $200,201,000 |
$275,000 | $1,463,000 |
$115,000 | $2,972,000 |
| Refinancing |
16 | $4,976,000 |
$311,000 | $638,000 |
$106,000 | $240,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
8 | $3,198,000 |
$399,000 | $1,000,000 |
$111,000 | $187,000 |
| Black or African American |
289 | $76,857,000 |
$265,000 | $638,000 |
$99,000 | $240,000 |
| Hispanic |
164 | $44,629,000 |
$272,000 | $974,000 |
$93,000 | $354,000 |
| Native Hawaiin or Other Pacific Islander |
4 | $547,000 |
$136,000 | $300,000 |
$113,000 | $132,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
28 | $7,167,000 |
$255,000 | $680,000 |
$96,000 | $323,000 |
| White |
249 | $72,779,000 |
$292,000 | $1,463,000 |
$149,000 | $2,972,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
738 | $203,971,000 |
$276,000 | $1,463,000 |
$115,000 | $2,972,000 |
| FHA-insured (Federal Housing Administration) |
4 | $1,206,000 |
$301,000 | $370,000 |
$14,000 | $58,000 |
| 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 |
1 | $328,000 |
$328,000 | $328,000 |
$161,000 | $161,000 |
| Application Denied By Financial Institution |
9 | $4,045,000 |
$449,000 | $1,000,000 |
$148,000 | $360,000 |
| Application Withdrawn By Applicant |
94 | $25,095,000 |
$266,000 | $974,000 |
$105,000 | $354,000 |
| File Closed For Incompleteness |
5 | $1,203,000 |
$240,000 | $440,000 |
$84,000 | $122,000 |
| Loan Originated |
633 | $174,506,000 |
$275,000 | $1,463,000 |
$116,000 | $2,972,000 |
| 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 | $2,980,000 |
$596,000 | $1,000,000 |
$179,000 | $360,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Debt-To-Income Ratio |
1 | $264,000 |
$264,000 | $264,000 |
$95,000 | $95,000 |
| 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 | $306,000 |
$306,000 | $306,000 |
$141,000 | $141,000 |
| Unverifiable Information |
2 | $495,000 |
$247,000 | $440,000 |
$100,000 | $100,000 |
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Mortgage Loan App Totals for FIRST RATE CAPITAL CORP. by:
Metropolitan Area And
County
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