BOSTON, MA
Mortgage Loan Application
Totals and Details
for 2016

Years 2016  2015  2014  2003  
Total Number of Mortgage Applications 103,388
Total Mortgage Loan Application Amount $38,604,616,000
Average Mortgage Loan Application Amount $373,000
Highest Mortgage Loan Application Amount $99,999,000
Average Applicant Income $131,000
Highest Applicant Income $9,999,000
Download the Massachusetts Lender List

Mortgage Loan Application Detail Totals for BOSTON, MA in 2016

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 56,586 $19,362,225,000 $342,000 $99,999,000 $127,000 $9,999,000
Home Purchase 37,773 $16,980,587,000 $449,000 $91,250,000 $138,000 $9,999,000
Home Improvement 9,029 $2,261,804,000 $250,000 $38,000,000 $131,000 $7,347,000

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 64,710 $22,631,914,000 $349,000 $10,000,000 $150,000 $9,999,000
Not Provided 11,435 $4,252,737,000 $371,000 $99,999,000 $155,000 $9,278,000
Not applicable 9,917 $6,135,522,000 $618,000 $91,250,000 $20,000 $1,198,000
Black or African American 6,444 $1,778,334,000 $275,000 $2,700,000 $82,000 $1,200,000
Asian 6,111 $2,336,996,000 $382,000 $6,400,000 $150,000 $7,213,000
Hispanic 4,418 $1,368,890,000 $309,000 $2,325,000 $94,000 $1,334,000
American Indian or Alaskan Native 221 $62,138,000 $281,000 $1,249,000 $108,000 $846,000
Native Hawaiin or Other Pacific Islander 132 $38,085,000 $288,000 $1,388,000 $110,000 $619,000

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) 87,331 $33,346,746,000 $381,000 $91,250,000 $144,000 $9,999,000
FHA-insured (Federal Housing Administration) 11,713 $3,816,143,000 $325,000 $99,999,000 $64,000 $6,016,000
VA-guaranteed (Veterans Administration) 4,066 $1,374,674,000 $338,000 $1,378,000 $66,000 $2,400,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 278 $67,053,000 $241,000 $634,000 $51,000 $154,000

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 59,157 $23,453,861,000 $396,000 $88,000,000 $150,000 $9,999,000
Loan Purchased By The Institution 14,497 $5,099,443,000 $351,000 $76,704,000 $73,000 $3,959,000
Application Denied By Financial Institution 14,432 $4,413,788,000 $305,000 $99,999,000 $106,000 $5,980,000
Application Withdrawn By Applicant 9,708 $3,696,232,000 $380,000 $91,250,000 $145,000 $9,999,000
File Closed For Incompleteness 3,979 $1,291,591,000 $324,000 $7,800,000 $122,000 $7,800,000
Application Approved But Not Accepted 1,615 $649,701,000 $402,000 $20,000,000 $150,000 $7,347,000
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 1,975 $602,183,000 $304,000 $9,590,000 $83,000 $1,300,000
Collateral 1,268 $428,704,000 $338,000 $8,600,000 $139,000 $2,679,000
Credit History 1,267 $301,798,000 $238,000 $10,001,000 $106,000 $1,800,000
Credit Application Incomplete 879 $263,144,000 $299,000 $2,258,000 $114,000 $1,873,000
Other 556 $234,949,000 $422,000 $50,000,000 $124,000 $2,139,000
Unverifiable Information 295 $101,879,000 $345,000 $10,000,000 $127,000 $1,872,000
Insufficient Cash (Downpayment, Closing Cost) 199 $74,001,000 $371,000 $2,700,000 $126,000 $953,000
Employment History 94 $31,114,000 $331,000 $1,440,000 $109,000 $800,000
Mortgage Insurance Denied 4 $1,188,000 $297,000 $464,000 $74,000 $151,000
Download the Massachusetts Lender List