Covington City, VA Mortgage Lenders & HMDA Data, 2020
In 2020, lenders reported 170 mortgage applications in Covington City, VA totaling $16.1 million, up 2% from 2019. The average application was for $94,000, and applicants reported an average income of $57,000. 56% of applications resulted in an originated loan and 8% were denied. The most active lender was Alcova Mortgage, LLC, with 69 applications, followed by PennyMac Loan Services LLC and Planet Home Lending, 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 | 170 |
| Total Mortgage Loan Application Amount | $16,060,000 |
| Average Mortgage Loan Application Amount | $94,000 |
| Highest Mortgage Loan Application Amount | $395,000 |
| Average Applicant Income | $57,000 |
| Highest Applicant Income | $247,000 |
| Mortgage Lender | Phone Number | Mortgage Lender Assets | Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications |
|---|---|---|---|---|
| Alcova Mortgage, LLC 308 MARKET ST, SE ROANOKE, VA 24011 |
* | $ -1,000 | 69 | $ 6,605,000 |
| PennyMac Loan Services LLC 3043 TOWNSGATE ROAD WESTLAKE VILLAGE, CA 91361 |
* | $ -1,000 | 18 | $ 1,570,000 |
| Planet Home Lending, LLC 321 RESEARCH PARKWAY SUITE 303 MERIDEN, CT 06450 |
* | $ -1,000 | 8 | $ 770,000 |
| Newrez LLC FORT WASHINGTON, PA 19034 |
* | $ -1,000 | 7 | $ 735,000 |
| Wells Fargo Bank NA MINNEAPOLIS, MN 55415 |
* | $ 1,712,919,000,000 | 7 | $ 655,000 |
| Truist Bank 3100 SMOKETREE CT FL 5 RALEIGH, NC 27604 |
* | $ 461,256,000,000 | 6 | $ 240,000 |
| Atlantic Union Bank 1051 EAST CARY STREET, SUITE 1200 GLEN ALLEN, VA 23060 |
* | $ 17,516,056,000 | 6 | $ 230,000 |
| Home Point Financial Corporation 1194 OAK VALLEY DRIVE, SUITE 80 ANN ARBOR, MI 48108 |
* | $ -1,000 | 5 | $ 405,000 |
| Freedom Mortgage Corporation 951 YAMATO ROAD SUITE 175 BOCA RATON, FL 33431 |
* | $ -1,000 | 5 | $ 525,000 |
| Nationstar Mortgage 8950 CYPRESS WATERS BLVD. COPPELL, TX 75019 |
* | $ -1,000 | 3 | $ 275,000 |
| Blue Eagle Credit Union 2121 ELECTRIC RD ROANOKE, VA 24018 |
* | $ 157,730,000 | 2 | $ 180,000 |
| Guild Mortgage Company 5898 COPLEY DRIVE SAN DIEGO, CA 92111 |
* | $ -1,000 | 2 | $ 260,000 |
| American Advisors Group 3800 W.CHAPMAN SUITE 300 ORANGE, CA 92868 |
* | $ -1,000 | 2 | $ 210,000 |
| Summit Community Bank, Inc PO BOX 680; 310 NORTH MAIN STREET MOOREFIELD, WV 26836 |
* | $ 2,401,941,000 | 2 | $ 130,000 |
| State Employees' Credit Union P.O. DRAWER 25279 RALEIGH, NC 27611 |
* | $ 41,376,687,000 | 1 | $ 25,000 |
| JPMorgan Chase Bank, NA 1111 POLARIS PARKWAY COLUMBUS, OH 43240 |
* | $ 2,337,646,000,000 | 1 | $ 115,000 |
| Midfirst Bank 501 NW GRAND BLVD OKLAHOMA CITY, OK 73118 |
* | $ 22,986,309,000 | 1 | $ 45,000 |
| loanDepot.com LLC 6561 IRVINE CENTER DRIVE IRVINE, CA 92618 |
* | $ -1,000 | 1 | $ 255,000 |
| Mortgage Research Center 1400 VETERANS UNITED DR. COLUMBIA, MO 65203 |
* | $ -1,000 | 1 | $ 55,000 |
| Plaza Home Mortgage, Inc 4820 EASTGATE MALL, STE 100 SAN DIEGO, CA 92121 |
* | $ -1,000 | 1 | $ 55,000 |
| Navy Federal Credit Union 820 FOLLIN LANE VIENNA, VA 22180 |
* | $ 111,986,078,000 | 1 | $ 145,000 |
| Northpointe Bank 3333 DEPOSIT DRIVE NE GRAND RAPIDS, MI 49546 |
* | $ 2,186,056,000 | 1 | $ 145,000 |
| First Ciitizens Bank and Trust 4300 SIX FORKS ROAD FCC 21 RALEIGH, NC 27603 |
* | $ 39,787,666,000 | 1 | $ 15,000 |
| Colonial Savings P O BOX 2988 FORT WORTH, TX 76102 |
* | $ 1,065,955,000 | 1 | $ 125,000 |
| American Financial Resources LLC 9 SYLVAN WAY PARSIPPANY, NJ 07054 |
* | $ -1,000 | 1 | $ 125,000 |
| Premier Bank, Inc. 601 WASHINGTON STREET RAVENSWOOD, WV 26164 |
* | $ 1,221,060,000 | 1 | $ 105,000 |
| Discover Bank 12 READS WAY GREENWOOD, DE 19950 |
* | $ 112,384,202,000 | 1 | $ 55,000 |
| Flagstar Bank NA TROY, MI 49098 |
* | $ 23,234,514,000 | 1 | $ 45,000 |
| Renasant Bank JOHNS CREEK, GA 30097 |
* | $ 13,387,533,000 | 1 | $ 395,000 |
| New Day Financial, Llc. 360 SOUTH ROSEMARY AVENUE SUITE 1900 WEST PALM BEACH, FL 33401 |
* | $ -1,000 | 1 | $ 35,000 |
The tables below break down 2020 mortgage applications in Covington 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 Covington City, VA in 2020
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 |
|---|---|---|---|---|---|---|
| Home Purchase | 88 | $8,430,000 | $95,000 | $395,000 | $52,000 | $247,000 |
| Refinancing | 51 | $5,365,000 | $105,000 | $255,000 | $60,000 | $131,000 |
| Cash-out Refinancing | 18 | $1,640,000 | $91,000 | $275,000 | $64,000 | $120,000 |
| Other Purpose | 9 | $475,000 | $52,000 | $105,000 | $66,000 | $140,000 |
| Home Improvement | 3 | $105,000 | $35,000 | $55,000 | $52,000 | $70,000 |
| Not Applicable | 1 | $45,000 | $45,000 | $45,000 | $0 | $0 |
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 | 106 | $10,170,000 | $95,000 | $395,000 | $57,000 | $247,000 |
| Not applicable | 47 | $4,275,000 | $90,000 | $185,000 | $66,000 | $82,000 |
| Not Provided | 11 | $965,000 | $87,000 | $145,000 | $57,000 | $119,000 |
| Black or African American | 3 | $325,000 | $108,000 | $185,000 | $43,000 | $47,000 |
| Hispanic | 2 | $230,000 | $115,000 | $115,000 | $50,000 | $50,000 |
| American Indian or Alaskan Native | 1 | $95,000 | $95,000 | $95,000 | $45,000 | $45,000 |
| Asian | 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) | 77 | $7,485,000 | $97,000 | $395,000 | $67,000 | $247,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 55 | $5,145,000 | $93,000 | $185,000 | $38,000 | $69,000 |
| FHA-insured (Federal Housing Administration) | 28 | $2,280,000 | $81,000 | $155,000 | $49,000 | $93,000 |
| VA-guaranteed (Veterans Administration) | 10 | $1,150,000 | $115,000 | $175,000 | $49,000 | $88,000 |
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 | 95 | $9,445,000 | $99,000 | $395,000 | $55,000 | $247,000 |
| Loan Purchased By The Institution | 52 | $4,860,000 | $93,000 | $255,000 | $54,000 | $82,000 |
| Application Denied By Financial Institution | 13 | $945,000 | $72,000 | $275,000 | $58,000 | $138,000 |
| Application Withdrawn By Applicant | 8 | $690,000 | $86,000 | $155,000 | $72,000 | $140,000 |
| File Closed For Incompleteness | 1 | $75,000 | $75,000 | $75,000 | $120,000 | $120,000 |
| Application Approved But Not Accepted | 1 | $45,000 | $45,000 | $45,000 | $53,000 | $53,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 156 | $15,010,000 | $96,000 | $395,000 | $57,000 | $247,000 |
| Debt-To-Income Ratio | 5 | $565,000 | $113,000 | $275,000 | $46,000 | $80,000 |
| Credit History | 4 | $210,000 | $52,000 | $125,000 | $55,000 | $88,000 |
| Other | 2 | $120,000 | $60,000 | $85,000 | $104,000 | $138,000 |
| Collateral | 2 | $100,000 | $50,000 | $85,000 | $69,000 | $69,000 |
| Credit Application Incomplete | 1 | $55,000 | $55,000 | $55,000 | $55,000 | $55,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 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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