Covington City, VA Mortgage Lenders & HMDA Data, 2023
In 2023, lenders reported 134 mortgage applications in Covington City, VA totaling $13.1 million, down 35% from 2022. The average application was for $97,000, and applicants reported an average income of $56,000. 48% of applications resulted in an originated loan and 16% were denied. The most active lender was Alcova Mortgage, LLC, with 29 applications, followed by Peoples Bank 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 | 134 |
| Total Mortgage Loan Application Amount | $13,110,000 |
| Average Mortgage Loan Application Amount | $97,000 |
| Highest Mortgage Loan Application Amount | $355,000 |
| Average Applicant Income | $56,000 |
| Highest Applicant Income | $269,000 |
| 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 | 29 | $ 3,435,000 |
| Peoples Bank 138 PUTNAM STREET MARIETTA, OH 45750 |
* | $ 7,197,574,000 | 14 | $ 830,000 |
| Truist Bank 3100 SMOKETREE CT FL 5 RALEIGH, NC 27604 |
* | $ 546,228,000,000 | 11 | $ 915,000 |
| PennyMac Loan Services LLC 3043 TOWNSGATE ROAD WESTLAKE VILLAGE, CA 91361 |
* | $ -1,000 | 9 | $ 985,000 |
| Village Capital & Investment 2460 PASEO VERDE PKWY SUITE 100 HENDERSON, NV 89074 |
* | $ -1,000 | 5 | $ 475,000 |
| Atlantic Union Bank 1051 EAST CARY STREET, SUITE 1200 GLEN ALLEN, VA 23060 |
* | $ 20,342,081,000 | 5 | $ 395,000 |
| Mortgage Research Center 1400 VETERANS UNITED DR. COLUMBIA, MO 65203 |
* | $ -1,000 | 5 | $ 555,000 |
| Planet Home Lending, LLC 321 RESEARCH PARKWAY SUITE 303 MERIDEN, CT 06450 |
* | $ -1,000 | 4 | $ 550,000 |
| Amerihome Mortgage Company, LLC 1 BAXTER WAY SUITE 300 THOUSAND OAKS, CA 91362 |
* | $ -1,000 | 4 | $ 660,000 |
| New Day Financial, Llc. 360 SOUTH ROSEMARY AVENUE SUITE 1900 WEST PALM BEACH, FL 33401 |
* | $ -1,000 | 3 | $ 275,000 |
| Vanderbilt Mortgage and Finance, Inc 500 ALCOA TRAIL MARYVILLE, TN 37804 |
* | $ -1,000 | 3 | $ 145,000 |
| Atlantic Bay Mortgage Group 596 LYNNHAVEN PARKWAY SUITE 200 VIRGINIA BEACH, VA 23452 |
* | $ -1,000 | 3 | $ 355,000 |
| Citizens Bank, NA ONE CITIZENS PLAZA PROVIDENCE, RI 02903 |
* | $ 226,401,591,000 | 3 | $ 245,000 |
| Newrez LLC FORT WASHINGTON, PA 19034 |
* | $ -1,000 | 2 | $ 190,000 |
| United Wholesale Mortgage 40600 ANN ARBOR RD E STE 201 PLYMOUTH, MI 48170 |
* | $ -1,000 | 2 | $ 350,000 |
| New American Funding, Llc. 14511 MYFORD ROAD, SUITE 100 TUSTIN, CA 92780 |
* | $ -1,000 | 2 | $ 120,000 |
| Discover Bank 12 READS WAY GREENWOOD, DE 19950 |
* | $ 129,461,046,000 | 2 | $ 100,000 |
| Amerisave Mortgage Company 1200 ALTMORE AVENUE BUILDING 2 SUITE 300 SANDY SPRINGS, GA 30342 |
* | $ -1,000 | 2 | $ 250,000 |
| Nationstar Mortgage 8950 CYPRESS WATERS BLVD. COPPELL, TX 75019 |
* | $ -1,000 | 2 | $ 210,000 |
| Filo Mortgage, LLC 555 E NORTH LN #6125 WEST CONSHOHOCKEN, PA 19428 |
* | $ -1,000 | 1 | $ 75,000 |
| M&T Bank 701 SENECA STREET - SUITE 330N BUFFALO, NY 14203 |
* | $ 200,262,969,000 | 1 | $ 35,000 |
| Movement Mortgage, LLC 8024 CALVIN HALL ROAD INDIAN LAND, SC 29707 |
* | $ -1,000 | 1 | $ 85,000 |
| US Bank, N.A. 425 WALNUT STREET CINCINNATI, OH 45202 |
* | $ 585,135,605,000 | 1 | $ 15,000 |
| City National Bank of Wv 25 GATEWATER ROAD CROSS LANES, WV 25313 |
* | $ 5,832,156,000 | 1 | $ 75,000 |
| Dupont Community Credit Union 140 LUCY LANE WAYNESBORO, VA 22980 |
* | $ 1,811,515,000 | 1 | $ 145,000 |
| SWBC Mortgage Corporation 9311 SAN PEDRO AVENUE STE 100 SAN ANTONIO, TX 78216 |
* | $ -1,000 | 1 | $ 145,000 |
| The Money Source Inc. 135 MAXESS ROAD NEW YORK, NY 11747 |
* | $ -1,000 | 1 | $ 135,000 |
| Wells Fargo Bank NA MINNEAPOLIS, MN 55415 |
* | $ 1,717,531,000,000 | 1 | $ 155,000 |
| Member One Federal Credit Union P.O. BOX 12288 ROANOKE, VA 24024 |
* | $ 1,553,016,000 | 1 | $ 35,000 |
| Midfirst Bank 501 NW GRAND BLVD OKLAHOMA CITY, OK 73118 |
* | $ 34,681,050,000 | 1 | $ 65,000 |
| USAA Federal Savings Bank 10750 MCDERMOTT FREEWAY SAN ANTONIO, TX 78288 |
* | $ 110,900,000,000 | 1 | $ 145,000 |
| Crosscountry Mortgage, LLC 2160 SUPERIOR AVENUE CLEVELAND, OH 44114 |
* | $ -1,000 | 1 | $ 95,000 |
| Navy Federal Credit Union 820 FOLLIN LANE VIENNA, VA 22180 |
* | $ 156,645,099,000 | 1 | $ 55,000 |
| Coastal Federal Credit Union PO BOX 99167 RALEIGH, NC 27690 |
* | $ 4,597,785,000 | 1 | $ 15,000 |
| TD Bank MOUNT LAUREL, NJ 08054 |
* | $ 386,799,237,000 | 1 | $ 55,000 |
| Affinity Federal Credit Union 73 MOUNTAINVIEW BLVD. BASKING RIDGE, NJ 07920 |
* | $ 4,471,539,000 | 1 | $ 45,000 |
| Cardinal Financial Company, Li 3530 TORINGDON WAY STE 200 CHARLOTTE, NC 28277 |
* | $ -1,000 | 1 | $ 205,000 |
| Freedom First Federal Credit Union 5240 VALLEYPARK DRIVE ROANOKE, VA 24019 |
* | $ 1,043,847,000 | 1 | $ 35,000 |
| Bank of America NA 31303 AGOURA RD CA6-917-01-20 WESTLAKE VILLAGE, CA 91361 |
* | $ 2,418,508,000,000 | 1 | $ 65,000 |
| Pentagon Federal Credit Union OMAHA, NE 68164 |
* | $ 35,526,360,000 | 1 | $ 45,000 |
The tables below break down 2023 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 2023
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 | 79 | $9,395,000 | $118,000 | $355,000 | $56,000 | $161,000 |
| Cash-out Refinancing | 23 | $2,135,000 | $92,000 | $145,000 | $51,000 | $119,000 |
| Home Improvement | 14 | $610,000 | $43,000 | $85,000 | $60,000 | $269,000 |
| Other Purpose | 13 | $595,000 | $45,000 | $75,000 | $59,000 | $115,000 |
| Refinancing | 5 | $375,000 | $75,000 | $105,000 | $62,000 | $118,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $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 | 88 | $8,230,000 | $93,000 | $355,000 | $58,000 | $269,000 |
| Not applicable | 24 | $3,030,000 | $126,000 | $355,000 | $55,000 | $68,000 |
| Not Provided | 12 | $1,230,000 | $102,000 | $185,000 | $58,000 | $161,000 |
| Black or African American | 7 | $565,000 | $80,000 | $155,000 | $52,000 | $88,000 |
| Hispanic | 3 | $55,000 | $18,000 | $25,000 | $10,000 | $16,000 |
| 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) | 67 | $5,145,000 | $76,000 | $355,000 | $57,000 | $269,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 28 | $3,260,000 | $116,000 | $175,000 | $58,000 | $78,000 |
| VA-guaranteed (Veterans Administration) | 20 | $2,520,000 | $126,000 | $265,000 | $53,000 | $90,000 |
| FHA-insured (Federal Housing Administration) | 19 | $2,185,000 | $115,000 | $215,000 | $54,000 | $98,000 |
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 | 64 | $6,850,000 | $107,000 | $355,000 | $62,000 | $161,000 |
| Loan Purchased By The Institution | 25 | $3,005,000 | $120,000 | $355,000 | $58,000 | $68,000 |
| Application Denied By Financial Institution | 22 | $1,240,000 | $56,000 | $125,000 | $50,000 | $269,000 |
| Application Withdrawn By Applicant | 9 | $665,000 | $73,000 | $115,000 | $39,000 | $70,000 |
| File Closed For Incompleteness | 8 | $670,000 | $83,000 | $125,000 | $35,000 | $40,000 |
| Application Approved But Not Accepted | 6 | $680,000 | $113,000 | $215,000 | $68,000 | $98,000 |
| 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 | 112 | $11,870,000 | $105,000 | $355,000 | $57,000 | $161,000 |
| Credit History | 10 | $500,000 | $50,000 | $85,000 | $39,000 | $85,000 |
| Debt-To-Income Ratio | 4 | $340,000 | $85,000 | $125,000 | $36,000 | $68,000 |
| Other | 3 | $165,000 | $55,000 | $65,000 | $114,000 | $269,000 |
| Collateral | 3 | $115,000 | $38,000 | $85,000 | $57,000 | $82,000 |
| Credit Application Incomplete | 1 | $15,000 | $15,000 | $15,000 | $12,000 | $12,000 |
| Employment History | 1 | $105,000 | $105,000 | $105,000 | $23,000 | $23,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 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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