Bedford City, VA Mortgage Lenders & HMDA Data, 2014
In 2014, lenders reported 191 mortgage applications in Bedford City, VA totaling $27.4 million, down 27% from 2013. The average application was for $143,000, and applicants reported an average income of $47,000. 42% of applications resulted in an originated loan and 23% were denied. The most active lender was Wells Fargo Bank NA, with 27 applications, followed by McLean Mortgage Corporation and JPMorgan Chase Bank, NA.
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| Years | 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 191 |
| Total Mortgage Loan Application Amount | $27,441,000 |
| Average Mortgage Loan Application Amount | $143,000 |
| Highest Mortgage Loan Application Amount | $4,416,000 |
| Average Applicant Income | $47,000 |
| Highest Applicant Income | $183,000 |
Top Mortgage Lenders in Bedford City, VA (2014)
Ranked by the number of mortgage applications each lender reported in Bedford City, VA in 2014.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Wells Fargo Bank NA Minneapolis, MN |
27 | $2,802,000 | $103,000 | $45,000 |
| 2 | McLean Mortgage Corporation Fairfax, VA |
9 | $1,386,000 | $154,000 | $71,000 |
| 3 | JPMorgan Chase Bank, NA Columbus, OH |
8 | $1,145,000 | $143,000 | $12,000 |
| 4 | Truist Bank Raleigh, NC |
7 | $1,241,000 | $177,000 | $27,000 |
| 5 | Carolina Bank Greensboro, NC |
7 | $834,000 | $119,000 | $46,000 |
| 6 | loanDepot.com LLC Irvine, CA |
7 | $1,089,000 | $155,000 | $53,000 |
| 7 | Embrace Home Loans, Inc. Middletown, RI |
7 | $755,000 | $107,000 | $47,000 |
| 8 | Bank of America NA Westlake Village, CA |
6 | $514,000 | $85,000 | $54,000 |
| 9 | Suntrust Bank Atlanta, GA |
6 | $463,000 | $77,000 | $74,000 |
| 10 | Nationstar Mortgage Coppell, TX |
5 | $456,000 | $91,000 | $28,000 |
The tables below break down 2014 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 2014
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 | 94 | $12,520,000 | $133,000 | $417,000 | $48,000 | $160,000 |
| Home Purchase | 84 | $14,801,000 | $176,000 | $4,416,000 | $48,000 | $183,000 |
| Home Improvement | 13 | $120,000 | $9,000 | $28,000 | $35,000 | $78,000 |
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 | 130 | $16,209,000 | $124,000 | $417,000 | $55,000 | $183,000 |
| Not applicable | 21 | $7,422,000 | $353,000 | $4,416,000 | $3,000 | $81,000 |
| Not Provided | 18 | $1,567,000 | $87,000 | $203,000 | $42,000 | $116,000 |
| Black or African American | 14 | $1,305,000 | $93,000 | $234,000 | $46,000 | $146,000 |
| Hispanic | 6 | $752,000 | $125,000 | $256,000 | $45,000 | $81,000 |
| American Indian or Alaskan Native | 1 | $90,000 | $90,000 | $90,000 | $42,000 | $42,000 |
| Asian | 1 | $96,000 | $96,000 | $96,000 | $34,000 | $34,000 |
| 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) | 118 | $18,018,000 | $152,000 | $4,416,000 | $54,000 | $183,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 26 | $2,814,000 | $108,000 | $179,000 | $28,000 | $56,000 |
| VA-guaranteed (Veterans Administration) | 24 | $3,393,000 | $141,000 | $290,000 | $41,000 | $141,000 |
| FHA-insured (Federal Housing Administration) | 23 | $3,216,000 | $139,000 | $256,000 | $39,000 | $146,000 |
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 | 81 | $13,391,000 | $165,000 | $4,416,000 | $54,000 | $183,000 |
| Application Denied By Financial Institution | 44 | $4,697,000 | $106,000 | $290,000 | $44,000 | $159,000 |
| Loan Purchased By The Institution | 40 | $5,284,000 | $132,000 | $417,000 | $27,000 | $183,000 |
| Application Withdrawn By Applicant | 20 | $3,056,000 | $152,000 | $310,000 | $62,000 | $160,000 |
| Application Approved But Not Accepted | 5 | $742,000 | $148,000 | $413,000 | $57,000 | $146,000 |
| File Closed For Incompleteness | 1 | $271,000 | $271,000 | $271,000 | $58,000 | $58,000 |
| 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 | 13 | $948,000 | $72,000 | $127,000 | $48,000 | $124,000 |
| Debt-To-Income Ratio | 8 | $976,000 | $122,000 | $290,000 | $47,000 | $159,000 |
| Credit Application Incomplete | 5 | $637,000 | $127,000 | $170,000 | $31,000 | $49,000 |
| Collateral | 4 | $433,000 | $108,000 | $127,000 | $33,000 | $49,000 |
| Other | 3 | $310,000 | $103,000 | $127,000 | $72,000 | $141,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $142,000 | $142,000 | $142,000 | $72,000 | $72,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 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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