Bedford City, VA Mortgage Lenders & HMDA Data, 2006
In 2006, lenders reported 599 mortgage applications in Bedford City, VA totaling $62.2 million, up 17% from 2005. The average application was for $103,000, and applicants reported an average income of $62,000. 39% of applications resulted in an originated loan and 25% were denied. The most active lender was Beneficial Company LLC, with 38 applications, followed by Countrywide Home Loans and First National Bank.
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| Years | 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 599 |
| Total Mortgage Loan Application Amount | $62,164,000 |
| Average Mortgage Loan Application Amount | $103,000 |
| Highest Mortgage Loan Application Amount | $1,000,000 |
| Average Applicant Income | $62,000 |
| Highest Applicant Income | $3,000,000 |
Top Mortgage Lenders in Bedford City, VA (2006)
Ranked by the number of mortgage applications each lender reported in Bedford City, VA in 2006.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Beneficial Company LLC Mettawa, IL |
38 | $2,853,000 | $75,000 | $47,000 |
| 2 | Countrywide Home Loans Westlake Village, CA |
30 | $3,151,000 | $105,000 | $53,000 |
| 3 | First National Bank Christiansburg, VA |
29 | $3,754,000 | $129,000 | $61,000 |
| 4 | Suntrust Mortgage, Inc Richmond, VA |
24 | $2,844,000 | $118,000 | $57,000 |
| 5 | Abn Amro Mtg Group Inc New York, NY |
20 | $2,322,000 | $116,000 | $69,000 |
| 6 | Wells Fargo Bank, NA Winston-Salem, NC |
18 | $1,521,000 | $84,000 | $84,000 |
| 7 | National City Bank Cleveland, OH |
17 | $2,034,000 | $119,000 | $66,000 |
| 8 | JPMorgan Chase Bank, NA Columbus, OH |
16 | $2,115,000 | $132,000 | $49,000 |
| 9 | Bank of America, N.A. Calabasas, CA |
16 | $1,679,000 | $104,000 | $48,000 |
| 10 | Gmac Mortgage LLC Ft. Washington, PA |
16 | $1,931,000 | $120,000 | $37,000 |
The tables below break down 2006 mortgage applications in Bedford City, VA by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.
Mortgage Loan Application Detail Totals for Bedford City, VA in 2006
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Refinancing | 357 | $38,787,000 | $108,000 | $1,000,000 | $58,000 | $1,020,000 |
| Home Purchase | 194 | $21,459,000 | $110,000 | $419,000 | $73,000 | $3,000,000 |
| Home Improvement | 48 | $1,918,000 | $39,000 | $221,000 | $50,000 | $90,000 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 372 | $40,877,000 | $109,000 | $1,000,000 | $68,000 | $3,000,000 |
| Not Provided | 85 | $8,300,000 | $97,000 | $284,000 | $75,000 | $1,020,000 |
| Black or African American | 81 | $6,625,000 | $81,000 | $234,000 | $49,000 | $584,000 |
| Not applicable | 51 | $5,251,000 | $102,000 | $300,000 | $24,000 | $131,000 |
| Hispanic | 5 | $622,000 | $124,000 | $270,000 | $62,000 | $132,000 |
| American Indian or Alaskan Native | 2 | $198,000 | $99,000 | $99,000 | $0 | $0 |
| Asian | 2 | $162,000 | $81,000 | $82,000 | $45,000 | $49,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $129,000 | $129,000 | $129,000 | $77,000 | $77,000 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 564 | $57,717,000 | $102,000 | $1,000,000 | $63,000 | $3,000,000 |
| FHA-insured (Federal Housing Administration) | 27 | $3,327,000 | $123,000 | $188,000 | $42,000 | $84,000 |
| VA-guaranteed (Veterans Administration) | 6 | $912,000 | $152,000 | $193,000 | $50,000 | $54,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 2 | $208,000 | $104,000 | $114,000 | $36,000 | $37,000 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 235 | $24,132,000 | $102,000 | $352,000 | $64,000 | $1,074,000 |
| Application Denied By Financial Institution | 150 | $15,091,000 | $100,000 | $1,000,000 | $76,000 | $3,000,000 |
| Loan Purchased By The Institution | 86 | $9,204,000 | $107,000 | $300,000 | $34,000 | $131,000 |
| Application Withdrawn By Applicant | 69 | $6,969,000 | $101,000 | $279,000 | $69,000 | $840,000 |
| Application Approved But Not Accepted | 38 | $3,937,000 | $103,000 | $580,000 | $50,000 | $162,000 |
| File Closed For Incompleteness | 21 | $2,831,000 | $134,000 | $419,000 | $51,000 | $138,000 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Credit History | 30 | $2,779,000 | $92,000 | $250,000 | $148,000 | $3,000,000 |
| Other | 25 | $2,212,000 | $88,000 | $192,000 | $45,000 | $95,000 |
| Collateral | 12 | $2,818,000 | $234,000 | $1,000,000 | $167,000 | $1,020,000 |
| Debt-To-Income Ratio | 10 | $850,000 | $85,000 | $186,000 | $47,000 | $90,000 |
| Credit Application Incomplete | 5 | $329,000 | $65,000 | $95,000 | $44,000 | $90,000 |
| Unverifiable Information | 2 | $194,000 | $97,000 | $110,000 | $79,000 | $137,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $130,000 | $130,000 | $130,000 | $27,000 | $27,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) loan application records that lenders file with the FFIEC each year, and count every application (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
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