Bedford City, VA Mortgage Lenders & HMDA Data, 2012
In 2012, lenders reported 292 mortgage applications in Bedford City, VA totaling $35.6 million, up 4% from 2011. The average application was for $121,000, and applicants reported an average income of $47,000. 46% of applications resulted in an originated loan and 14% were denied. The most active lender was Wells Fargo Bank NA, with 45 applications, followed by Carolina Bank and Embrace Home Loans, Inc..
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| Years | 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 292 |
| Total Mortgage Loan Application Amount | $35,556,000 |
| Average Mortgage Loan Application Amount | $121,000 |
| Highest Mortgage Loan Application Amount | $1,512,000 |
| Average Applicant Income | $47,000 |
| Highest Applicant Income | $371,000 |
Top Mortgage Lenders in Bedford City, VA (2012)
Ranked by the number of mortgage applications each lender reported in Bedford City, VA in 2012.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Wells Fargo Bank NA Minneapolis, MN |
45 | $5,618,000 | $124,000 | $54,000 |
| 2 | Carolina Bank Greensboro, NC |
22 | $2,449,000 | $111,000 | $52,000 |
| 3 | Embrace Home Loans, Inc. Middletown, RI |
22 | $2,646,000 | $120,000 | $39,000 |
| 4 | JPMorgan Chase Bank, NA Columbus, OH |
22 | $2,415,000 | $109,000 | $48,000 |
| 5 | Stellarone Bank Richmond, VA |
20 | $3,561,000 | $178,000 | $75,000 |
| 6 | Truist Bank Raleigh, NC |
14 | $1,362,000 | $97,000 | $16,000 |
| 7 | US Bank, N.A. Cincinnati, OH |
12 | $1,361,000 | $113,000 | $5,000 |
| 8 | New Day Financial, Llc. West Palm Beach, FL |
10 | $1,402,000 | $140,000 | $17,000 |
| 9 | Suntrust Mortgage, Inc. Richmond, VA |
8 | $1,008,000 | $126,000 | $76,000 |
| 10 | Atlantic Bay Mortgage Group Virginia Beach, VA |
6 | $684,000 | $114,000 | $42,000 |
The tables below break down 2012 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 2012
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 | 175 | $22,323,000 | $127,000 | $425,000 | $50,000 | $218,000 |
| Home Purchase | 104 | $12,935,000 | $124,000 | $1,512,000 | $43,000 | $371,000 |
| Home Improvement | 13 | $298,000 | $22,000 | $110,000 | $40,000 | $73,000 |
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 | 202 | $24,321,000 | $120,000 | $404,000 | $54,000 | $218,000 |
| Not applicable | 38 | $4,525,000 | $119,000 | $425,000 | $13,000 | $170,000 |
| Not Provided | 37 | $5,447,000 | $147,000 | $1,512,000 | $48,000 | $371,000 |
| Black or African American | 11 | $788,000 | $71,000 | $138,000 | $28,000 | $43,000 |
| Hispanic | 3 | $350,000 | $116,000 | $147,000 | $61,000 | $90,000 |
| Asian | 1 | $125,000 | $125,000 | $125,000 | $21,000 | $21,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
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) | 162 | $19,450,000 | $120,000 | $1,512,000 | $58,000 | $371,000 |
| FHA-insured (Federal Housing Administration) | 72 | $8,843,000 | $122,000 | $198,000 | $27,000 | $121,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 33 | $3,723,000 | $112,000 | $161,000 | $40,000 | $69,000 |
| VA-guaranteed (Veterans Administration) | 25 | $3,540,000 | $141,000 | $317,000 | $40,000 | $120,000 |
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 | 133 | $15,944,000 | $119,000 | $425,000 | $54,000 | $218,000 |
| Loan Purchased By The Institution | 62 | $7,917,000 | $127,000 | $404,000 | $34,000 | $218,000 |
| Application Withdrawn By Applicant | 46 | $5,473,000 | $118,000 | $200,000 | $43,000 | $175,000 |
| Application Denied By Financial Institution | 42 | $3,909,000 | $93,000 | $254,000 | $41,000 | $87,000 |
| File Closed For Incompleteness | 5 | $1,943,000 | $388,000 | $1,512,000 | $89,000 | $371,000 |
| Application Approved But Not Accepted | 4 | $370,000 | $92,000 | $131,000 | $87,000 | $191,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 13 | $1,159,000 | $89,000 | $239,000 | $30,000 | $73,000 |
| Credit History | 11 | $746,000 | $67,000 | $136,000 | $42,000 | $80,000 |
| Collateral | 4 | $392,000 | $98,000 | $131,000 | $65,000 | $82,000 |
| Other | 4 | $614,000 | $153,000 | $254,000 | $64,000 | $87,000 |
| Credit Application Incomplete | 2 | $197,000 | $98,000 | $102,000 | $45,000 | $59,000 |
| Employment History | 1 | $102,000 | $102,000 | $102,000 | $36,000 | $36,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $95,000 | $95,000 | $95,000 | $40,000 | $40,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 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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