Covington City, VA Mortgage Lenders & HMDA Data, 2022
In 2022, lenders reported 205 mortgage applications in Covington City, VA totaling $22.0 million, down 14% from 2021. The average application was for $107,000, and applicants reported an average income of $63,000. 53% of applications resulted in an originated loan and 17% were denied. The most active lender was Alcova Mortgage, LLC, with 58 applications, followed by Member One Federal Credit Union and Truist Bank.
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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 | 205 |
| Total Mortgage Loan Application Amount | $22,035,000 |
| Average Mortgage Loan Application Amount | $107,000 |
| Highest Mortgage Loan Application Amount | $2,605,000 |
| Average Applicant Income | $63,000 |
| Highest Applicant Income | $361,000 |
| 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 | 58 | $ 6,720,000 |
| Member One Federal Credit Union P.O. BOX 12288 ROANOKE, VA 24024 |
* | $ 1,454,750,000 | 16 | $ 1,050,000 |
| Truist Bank 3100 SMOKETREE CT FL 5 RALEIGH, NC 27604 |
* | $ 528,514,000,000 | 14 | $ 960,000 |
| PennyMac Loan Services LLC 3043 TOWNSGATE ROAD WESTLAKE VILLAGE, CA 91361 |
* | $ -1,000 | 13 | $ 1,585,000 |
| Atlantic Union Bank 1051 EAST CARY STREET, SUITE 1200 GLEN ALLEN, VA 23060 |
* | $ 20,000,309,000 | 12 | $ 710,000 |
| Peoples Bank 138 PUTNAM STREET MARIETTA, OH 45750 |
* | $ 4,351,191,000 | 11 | $ 455,000 |
| Planet Home Lending, LLC 321 RESEARCH PARKWAY SUITE 303 MERIDEN, CT 06450 |
* | $ -1,000 | 10 | $ 1,210,000 |
| Newrez LLC FORT WASHINGTON, PA 19034 |
* | $ -1,000 | 9 | $ 895,000 |
| Amerihome Mortgage Company, LLC 1 BAXTER WAY SUITE 300 THOUSAND OAKS, CA 91362 |
* | $ -1,000 | 6 | $ 890,000 |
| Mortgage Research Center 1400 VETERANS UNITED DR. COLUMBIA, MO 65203 |
* | $ -1,000 | 6 | $ 630,000 |
| Discover Bank 12 READS WAY GREENWOOD, DE 19950 |
* | $ 108,342,526,000 | 4 | $ 160,000 |
| Vanderbilt Mortgage and Finance, Inc 500 ALCOA TRAIL MARYVILLE, TN 37804 |
* | $ -1,000 | 2 | $ 310,000 |
| Nationstar Mortgage 8950 CYPRESS WATERS BLVD. COPPELL, TX 75019 |
* | $ -1,000 | 2 | $ 160,000 |
| Valleystar Credit Union 41 WHEELER AVE MARTINSVILLE, VA 24115 |
* | $ 615,062,000 | 2 | $ 90,000 |
| Flagstar Bank NA TROY, MI 49098 |
* | $ 16,855,693,000 | 2 | $ 200,000 |
| Wells Fargo Bank NA MINNEAPOLIS, MN 55415 |
* | $ 1,779,504,000,000 | 2 | $ 140,000 |
| Atlantic Bay Mortgage Group 596 LYNNHAVEN PARKWAY SUITE 200 VIRGINIA BEACH, VA 23452 |
* | $ -1,000 | 2 | $ 120,000 |
| Movement Mortgage, LLC 8024 CALVIN HALL ROAD INDIAN LAND, SC 29707 |
* | $ -1,000 | 2 | $ 170,000 |
| Amerisave Mortgage Company 1200 ALTMORE AVENUE BUILDING 2 SUITE 300 SANDY SPRINGS, GA 30342 |
* | $ -1,000 | 2 | $ 210,000 |
| Village Capital & Investment 2460 PASEO VERDE PKWY SUITE 100 HENDERSON, NV 89074 |
* | $ -1,000 | 2 | $ 210,000 |
| United Wholesale Mortgage 40600 ANN ARBOR RD E STE 201 PLYMOUTH, MI 48170 |
* | $ -1,000 | 2 | $ 250,000 |
| Sofi Bank, National Association FRISCO, TX 75034 |
* | $ 174,662,000 | 2 | $ 210,000 |
| First Bank 112 W KING ST STRASBURG, VA 22657 |
* | $ 1,383,368,000 | 2 | $ 90,000 |
| Carrington Mortgage Services LLC 500 NORTH STATE COLLEGE BOULEVARD SUITES 1030, 1300 AND 1400 ORANGE, CA 92868 |
* | $ -1,000 | 2 | $ 140,000 |
| Freedom Mortgage Corporation 951 YAMATO ROAD SUITE 175 BOCA RATON, FL 33431 |
* | $ -1,000 | 1 | $ 155,000 |
| State Employees' Credit Union P.O. DRAWER 25279 RALEIGH, NC 27611 |
* | $ 51,653,025,000 | 1 | $ 35,000 |
| Pinnacle Bank 150 3RD AVE SOUTH NASHVILLE, TN 37203 |
* | $ 38,275,134,000 | 1 | $ 2,605,000 |
| First National Bank of America 241 EAST SAGINAW EAST LANSING, MI 48823 |
* | $ 3,310,189,000 | 1 | $ 125,000 |
| First Ciitizens Bank and Trust 4300 SIX FORKS ROAD FCC 21 RALEIGH, NC 27603 |
* | $ 58,215,736,000 | 1 | $ 55,000 |
| Lakeview Loan Servicing, LLC 4425 PONCE DE LEON BLVD. CORAL GABLES, FL 33146 |
* | $ -1,000 | 1 | $ 75,000 |
| Bank of Botetourt 19747 MAIN STREET BUCHANAN, VA 24066 |
* | $ 663,766,000 | 1 | $ 55,000 |
| Mid-Continent Funding, Inc. 3401 W BROADWAY BUSINESS PARK CT STE 213 COLUMBIA, MO 65203 |
* | $ -1,000 | 1 | $ 155,000 |
| Colonial Savings P O BOX 2988 FORT WORTH, TX 76102 |
* | $ 1,089,286,000 | 1 | $ 55,000 |
| Bank of America NA 31303 AGOURA RD CA6-917-01-20 WESTLAKE VILLAGE, CA 91361 |
* | $ 2,519,525,000,000 | 1 | $ 55,000 |
| Embrace Home Loans, Inc. 25 ENTERPRISE CENTER MIDDLETOWN, RI 02842 |
* | $ -1,000 | 1 | $ 105,000 |
| Cardinal Financial Company, Li 3530 TORINGDON WAY STE 200 CHARLOTTE, NC 28277 |
* | $ -1,000 | 1 | $ 115,000 |
| USAA Federal Savings Bank 10750 MCDERMOTT FREEWAY SAN ANTONIO, TX 78288 |
* | $ 117,378,701,000 | 1 | $ 195,000 |
| New Day Financial, Llc. 360 SOUTH ROSEMARY AVENUE SUITE 1900 WEST PALM BEACH, FL 33401 |
* | $ -1,000 | 1 | $ 75,000 |
The tables below break down 2022 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 2022
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 | 111 | $12,525,000 | $112,000 | $265,000 | $59,000 | $361,000 |
| Cash-out Refinancing | 41 | $3,655,000 | $89,000 | $195,000 | $66,000 | $128,000 |
| Refinancing | 24 | $4,540,000 | $189,000 | $2,605,000 | $66,000 | $300,000 |
| Other Purpose | 18 | $860,000 | $47,000 | $135,000 | $61,000 | $119,000 |
| Home Improvement | 10 | $420,000 | $42,000 | $55,000 | $81,000 | $250,000 |
| Not Applicable | 1 | $35,000 | $35,000 | $35,000 | $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 | 116 | $10,480,000 | $90,000 | $265,000 | $62,000 | $361,000 |
| Not applicable | 62 | $8,830,000 | $142,000 | $2,605,000 | $33,000 | $42,000 |
| Black or African American | 14 | $1,450,000 | $103,000 | $215,000 | $81,000 | $300,000 |
| Not Provided | 13 | $1,275,000 | $98,000 | $155,000 | $61,000 | $118,000 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 111 | $10,815,000 | $97,000 | $2,605,000 | $67,000 | $361,000 |
| FHA-insured (Federal Housing Administration) | 40 | $5,080,000 | $127,000 | $235,000 | $64,000 | $173,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 38 | $4,380,000 | $115,000 | $265,000 | $50,000 | $117,000 |
| VA-guaranteed (Veterans Administration) | 16 | $1,760,000 | $110,000 | $195,000 | $51,000 | $128,000 |
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 | 109 | $12,775,000 | $117,000 | $2,605,000 | $62,000 | $361,000 |
| Loan Purchased By The Institution | 42 | $5,030,000 | $119,000 | $265,000 | $33,000 | $42,000 |
| Application Denied By Financial Institution | 35 | $2,675,000 | $76,000 | $195,000 | $72,000 | $300,000 |
| Application Withdrawn By Applicant | 13 | $1,165,000 | $89,000 | $165,000 | $53,000 | $118,000 |
| File Closed For Incompleteness | 4 | $300,000 | $75,000 | $115,000 | $33,000 | $40,000 |
| Application Approved But Not Accepted | 2 | $90,000 | $45,000 | $55,000 | $95,000 | $95,000 |
| 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 | 167 | $19,215,000 | $115,000 | $2,605,000 | $60,000 | $361,000 |
| Credit History | 12 | $820,000 | $68,000 | $195,000 | $62,000 | $250,000 |
| Debt-To-Income Ratio | 9 | $615,000 | $68,000 | $145,000 | $71,000 | $115,000 |
| Collateral | 7 | $495,000 | $70,000 | $145,000 | $75,000 | $119,000 |
| Credit Application Incomplete | 4 | $350,000 | $87,000 | $105,000 | $63,000 | $70,000 |
| Other | 4 | $350,000 | $87,000 | $125,000 | $126,000 | $300,000 |
| Unverifiable Information | 2 | $190,000 | $95,000 | $125,000 | $33,000 | $54,000 |
| 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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