Buchanan County, VA Mortgage Lenders & HMDA Data, 2006
In 2006, lenders reported 941 mortgage applications in Buchanan County, VA totaling $56.4 million, down 7% from 2005. The average application was for $59,000, and applicants reported an average income of $48,000. 57% of applications resulted in an originated loan and 24% were denied. The most active lender was Trupoint Bank, with 243 applications, followed by New Peoples Bank, Inc and Beneficial Company LLC.
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| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 941 |
| Total Mortgage Loan Application Amount | $56,396,000 |
| Average Mortgage Loan Application Amount | $59,000 |
| Highest Mortgage Loan Application Amount | $5,000,000 |
| Average Applicant Income | $48,000 |
| Highest Applicant Income | $840,000 |
Top Mortgage Lenders in Buchanan County, VA (2006)
Ranked by the number of mortgage applications each lender reported in Buchanan County, VA in 2006.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Trupoint Bank Grundy, VA |
243 | $6,194,000 | $25,000 | $43,000 |
| 2 | New Peoples Bank, Inc Honaker, VA |
97 | $3,534,000 | $36,000 | $53,000 |
| 3 | Beneficial Company LLC Mettawa, IL |
78 | $4,414,000 | $56,000 | $40,000 |
| 4 | Legacybank Grundy, VA |
78 | $8,548,000 | $109,000 | $51,000 |
| 5 | Wells Fargo Bank, NA Winston-Salem, NC |
67 | $3,189,000 | $47,000 | $63,000 |
| 6 | Vanderbilt Mortgage Maryville, TN |
27 | $1,737,000 | $64,000 | $40,000 |
| 7 | Countrywide Home Loans Westlake Village, CA |
23 | $2,214,000 | $96,000 | $51,000 |
| 8 | Citifinancial, Inc. Baltimore, MD |
21 | $963,000 | $45,000 | $27,000 |
| 9 | Oak Street Mortgage Carmel, IN |
10 | $964,000 | $96,000 | $46,000 |
| 10 | Gmac Mortgage LLC Ft. Washington, PA |
10 | $797,000 | $79,000 | $44,000 |
The tables below break down 2006 mortgage applications in Buchanan County, VA by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.
Mortgage Loan Application Detail Totals for Buchanan County, 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 | 386 | $28,174,000 | $72,000 | $334,000 | $49,000 | $600,000 |
| Home Purchase | 286 | $23,524,000 | $82,000 | $5,000,000 | $52,000 | $280,000 |
| Home Improvement | 269 | $4,698,000 | $17,000 | $199,000 | $44,000 | $840,000 |
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 | 841 | $43,246,000 | $51,000 | $425,000 | $49,000 | $840,000 |
| Not Provided | 67 | $4,963,000 | $74,000 | $238,000 | $52,000 | $600,000 |
| Not applicable | 23 | $7,430,000 | $323,000 | $5,000,000 | $15,000 | $100,000 |
| Hispanic | 7 | $341,000 | $48,000 | $95,000 | $54,000 | $90,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $55,000 | $55,000 | $55,000 | $0 | $0 |
| Asian | 1 | $51,000 | $51,000 | $51,000 | $26,000 | $26,000 |
| Black or African American | 1 | $310,000 | $310,000 | $310,000 | $113,000 | $113,000 |
| American Indian or Alaskan Native | 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) | 924 | $54,539,000 | $59,000 | $5,000,000 | $48,000 | $840,000 |
| FHA-insured (Federal Housing Administration) | 10 | $793,000 | $79,000 | $198,000 | $45,000 | $100,000 |
| VA-guaranteed (Veterans Administration) | 4 | $748,000 | $187,000 | $310,000 | $83,000 | $147,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 3 | $316,000 | $105,000 | $128,000 | $24,000 | $43,000 |
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 | 533 | $26,989,000 | $50,000 | $5,000,000 | $50,000 | $840,000 |
| Application Denied By Financial Institution | 224 | $14,001,000 | $62,000 | $240,000 | $44,000 | $600,000 |
| Application Withdrawn By Applicant | 73 | $5,502,000 | $75,000 | $240,000 | $48,000 | $195,000 |
| Application Approved But Not Accepted | 64 | $4,747,000 | $74,000 | $334,000 | $57,000 | $280,000 |
| Loan Purchased By The Institution | 37 | $3,657,000 | $98,000 | $238,000 | $31,000 | $138,000 |
| File Closed For Incompleteness | 7 | $737,000 | $105,000 | $199,000 | $46,000 | $123,000 |
| Preapproval Denied by Financial Institution | 3 | $763,000 | $254,000 | $310,000 | $120,000 | $147,000 |
| Preapproval Approved but not Accepted | 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 | 46 | $2,949,000 | $64,000 | $255,000 | $47,000 | $157,000 |
| Collateral | 28 | $2,415,000 | $86,000 | $240,000 | $59,000 | $140,000 |
| Debt-To-Income Ratio | 14 | $1,088,000 | $77,000 | $310,000 | $40,000 | $113,000 |
| Other | 13 | $980,000 | $75,000 | $149,000 | $95,000 | $600,000 |
| Credit Application Incomplete | 11 | $912,000 | $82,000 | $240,000 | $47,000 | $120,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $331,000 | $110,000 | $170,000 | $66,000 | $95,000 |
| 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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