Cape May County NJ
Mortgage Loan Application
Totals and Details
for 2016

Years 2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 9,668
Total Mortgage Loan Application Amount $3,191,018,000
Average Mortgage Loan Application Amount $330,000
Highest Mortgage Loan Application Amount $5,000,000
Average Applicant Income $190,000
Highest Applicant Income $5,669,000
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Mortgage Loan Application Detail Totals for Cape May County NJ 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 4,625 $1,491,252,000 $322,000 $5,000,000 $182,000 $5,669,000
Home Purchase 4,455 $1,606,316,000 $360,000 $4,684,000 $206,000 $4,904,000
Home Improvement 588 $93,450,000 $158,000 $4,550,000 $130,000 $3,929,000

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 7,764 $2,614,842,000 $336,000 $5,000,000 $202,000 $5,669,000
Not Provided 938 $296,293,000 $315,000 $3,840,000 $203,000 $4,839,000
Not applicable 625 $188,406,000 $301,000 $4,373,000 $40,000 $854,000
Hispanic 147 $34,492,000 $234,000 $1,460,000 $151,000 $2,609,000
Black or African American 94 $21,949,000 $233,000 $2,520,000 $116,000 $2,171,000
Asian 72 $27,410,000 $380,000 $2,000,000 $241,000 $1,598,000
American Indian or Alaskan Native 19 $5,464,000 $287,000 $1,000,000 $123,000 $582,000
Native Hawaiin or Other Pacific Islander 9 $2,162,000 $240,000 $420,000 $216,000 $665,000

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) 8,407 $2,923,000,000 $347,000 $5,000,000 $211,000 $5,669,000
FHA-insured (Federal Housing Administration) 805 $159,217,000 $197,000 $511,000 $49,000 $431,000
VA-guaranteed (Veterans Administration) 349 $89,787,000 $257,000 $878,000 $62,000 $485,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 107 $19,014,000 $177,000 $310,000 $38,000 $90,000

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 5,365 $1,937,401,000 $361,000 $5,000,000 $224,000 $5,217,000
Application Denied By Financial Institution 1,601 $421,327,000 $263,000 $3,500,000 $135,000 $2,438,000
Application Withdrawn By Applicant 1,123 $367,691,000 $327,000 $4,550,000 $180,000 $5,669,000
Loan Purchased By The Institution 972 $277,013,000 $284,000 $1,960,000 $110,000 $4,904,000
File Closed For Incompleteness 400 $131,280,000 $328,000 $3,840,000 $187,000 $3,015,000
Application Approved But Not Accepted 207 $56,306,000 $272,000 $2,000,000 $164,000 $2,126,000
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 272 $82,494,000 $303,000 $2,000,000 $102,000 $652,000
Collateral 262 $76,393,000 $291,000 $3,500,000 $185,000 $1,615,000
Credit History 204 $34,371,000 $168,000 $1,853,000 $108,000 $1,888,000
Credit Application Incomplete 127 $36,697,000 $288,000 $1,853,000 $160,000 $1,560,000
Other 90 $27,315,000 $303,000 $3,000,000 $205,000 $2,438,000
Insufficient Cash (Downpayment, Closing Cost) 26 $10,400,000 $400,000 $2,340,000 $209,000 $1,021,000
Unverifiable Information 23 $5,807,000 $252,000 $982,000 $113,000 $556,000
Employment History 11 $2,699,000 $245,000 $750,000 $111,000 $420,000
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0
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