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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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SAUGUS FEDERAL CREDIT UNION
Mortgage Loans and Application Details
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| Mortgage Company Name |
SAUGUS FEDERAL CREDIT UNION |
| Address | 448 LINCOLN AVENUE
SAUGUS, MA 01906 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 523 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $115,057,000 |
| Average Mortgage Loan Amount Applied For | $210,000 |
| Highest Mortgage Loan Amount Applied For | $1,435,000 |
| Average Applicant Income | $99,947 |
| Highest Applicant Income | $495,000 |
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| Home Improvement |
17 | $692,000 |
$40,000 | $100,000 |
$76,000 | $119,000 |
| Home Purchase |
300 | $71,251,000 |
$237,000 | $780,000 |
$75,000 | $463,000 |
| Refinancing |
306 | $71,887,000 |
$234,000 | $1,435,000 |
$85,000 | $495,000 |
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| American Indian or Alaskan Native |
1 | $56,000 |
$56,000 | $56,000 |
$60,000 | $60,000 |
| Asian |
12 | $2,483,000 |
$206,000 | $500,000 |
$46,000 | $147,000 |
| Black or African American |
8 | $1,328,000 |
$166,000 | $392,000 |
$52,000 | $106,000 |
| Hispanic |
24 | $5,674,000 |
$236,000 | $428,000 |
$68,000 | $125,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
0 | $0 |
$0 | $0 |
$0 | $0 |
| White |
578 | $134,289,000 |
$232,000 | $1,435,000 |
$82,000 | $495,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
623 | $143,830,000 |
$230,000 | $1,435,000 |
$80,000 | $495,000 |
| 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 |
37 | $8,485,000 |
$229,000 | $500,000 |
$81,000 | $187,000 |
| Application Denied By Financial Institution |
30 | $8,076,000 |
$269,000 | $596,000 |
$56,000 | $186,000 |
| Application Withdrawn By Applicant |
11 | $2,587,000 |
$235,000 | $700,000 |
$54,000 | $108,000 |
| File Closed For Incompleteness |
39 | $9,748,000 |
$249,000 | $428,000 |
$47,000 | $164,000 |
| Loan Originated |
411 | $87,556,000 |
$213,000 | $1,435,000 |
$89,000 | $495,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
86 | $24,935,000 |
$289,000 | $750,000 |
$66,000 | $220,000 |
| Preapproval Denied by Financial Institution |
9 | $2,443,000 |
$271,000 | $356,000 |
$55,000 | $89,000 |
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| Collateral |
4 | $913,000 |
$228,000 | $416,000 |
$78,000 | $132,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
21 | $5,994,000 |
$285,000 | $596,000 |
$58,000 | $186,000 |
| Debt-To-Income Ratio |
9 | $2,414,000 |
$268,000 | $431,000 |
$40,000 | $89,000 |
| Employment History |
1 | $330,000 |
$330,000 | $330,000 |
$60,000 | $60,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
2 | $613,000 |
$306,000 | $313,000 |
$46,000 | $47,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
1 | $245,000 |
$245,000 | $245,000 |
$62,000 | $62,000 |
| Unverifiable Information |
1 | $10,000 |
$10,000 | $10,000 |
$78,000 | $78,000 |
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Mortgage Loan App Totals for SAUGUS FEDERAL CREDIT UNION by:
Metropolitan Area And
County
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