Covington City, VA Mortgage Lenders & HMDA Data, 2024
In 2024, lenders reported 165 mortgage applications in Covington City, VA totaling $17.9 million, up 23% from 2023. The average application was for $108,000, and applicants reported an average income of $82,000. 52% of applications resulted in an originated loan and 20% were denied. The most active lender was Alcova Mortgage, LLC, with 45 applications, followed by PennyMac Loan Services LLC and Peoples 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 | 165 |
| Total Mortgage Loan Application Amount | $17,865,000 |
| Average Mortgage Loan Application Amount | $108,000 |
| Highest Mortgage Loan Application Amount | $365,000 |
| Average Applicant Income | $82,000 |
| Highest Applicant Income | $731,000 |
| 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 |
* | $ n/a | 45 | $ 5,125,000 |
| PennyMac Loan Services LLC 3043 TOWNSGATE ROAD WESTLAKE VILLAGE, CA 91361 |
* | $ n/a | 17 | $ 2,315,000 |
| Peoples Bank 138 PUTNAM STREET MARIETTA, OH 45750 |
* | $ n/a | 7 | $ 285,000 |
| Amerihome Mortgage Company, LLC 1 BAXTER WAY SUITE 300 THOUSAND OAKS, CA 91362 |
* | $ n/a | 6 | $ 900,000 |
| Discover Bank 12 READS WAY GREENWOOD, DE 19950 |
* | $ n/a | 5 | $ 215,000 |
| Member One Federal Credit Union P.O. BOX 12288 ROANOKE, VA 24024 |
* | $ n/a | 5 | $ 125,000 |
| Truist Bank 3100 SMOKETREE CT FL 5 RALEIGH, NC 27604 |
* | $ n/a | 5 | $ 235,000 |
| United Wholesale Mortgage 40600 ANN ARBOR RD E STE 201 PLYMOUTH, MI 48170 |
* | $ n/a | 5 | $ 445,000 |
| Newrez LLC FORT WASHINGTON, PA 19034 |
* | $ n/a | 4 | $ 640,000 |
| Prosperity Home Mortgage, LLC 14501 GEORGE CARTER WAY SUITE 300 CHANTILLY, VA 20151 |
* | $ n/a | 4 | $ 230,000 |
| Planet Home Lending, LLC 321 RESEARCH PARKWAY SUITE 303 MERIDEN, CT 06450 |
* | $ n/a | 4 | $ 490,000 |
| Atlantic Union Bank 1051 EAST CARY STREET, SUITE 1200 GLEN ALLEN, VA 23060 |
* | $ n/a | 4 | $ 410,000 |
| Amerisave Mortgage Company 1200 ALTMORE AVENUE BUILDING 2 SUITE 300 SANDY SPRINGS, GA 30342 |
* | $ n/a | 4 | $ 370,000 |
| loanDepot.com LLC 6561 IRVINE CENTER DRIVE IRVINE, CA 92618 |
* | $ n/a | 3 | $ 385,000 |
| Virginia Federal Credit Union PO BOX 90010 RICHMOND, VA 23225 |
* | $ n/a | 3 | $ 195,000 |
| Nationstar Mortgage 8950 CYPRESS WATERS BLVD. COPPELL, TX 75019 |
* | $ n/a | 3 | $ 385,000 |
| Mortgage Research Center 1400 VETERANS UNITED DR. COLUMBIA, MO 65203 |
* | $ n/a | 3 | $ 405,000 |
| New American Funding, Llc. 14511 MYFORD ROAD, SUITE 100 TUSTIN, CA 92780 |
* | $ n/a | 3 | $ 235,000 |
| Vanderbilt Mortgage and Finance, Inc 500 ALCOA TRAIL MARYVILLE, TN 37804 |
* | $ n/a | 3 | $ 395,000 |
| Figure Lending LLC SAN FRANCISCO, CA 94108 |
* | $ n/a | 2 | $ 90,000 |
| Navy Federal Credit Union 820 FOLLIN LANE VIENNA, VA 22180 |
* | $ n/a | 1 | $ 185,000 |
| 21st Mortgage 620 MARKET ST SUITE 100 KNOXVILLE, TN 37902 |
* | $ n/a | 1 | $ 45,000 |
| Village Capital & Investment 2460 PASEO VERDE PKWY SUITE 100 HENDERSON, NV 89074 |
* | $ n/a | 1 | $ 125,000 |
| Freedom Mortgage Corporation 951 YAMATO ROAD SUITE 175 BOCA RATON, FL 33431 |
* | $ n/a | 1 | $ 185,000 |
| Clearedge Lending LLC 20 ENTERPRISE SUITE 350 ALISO VIEJO, CA 92656 |
* | $ n/a | 1 | $ 115,000 |
| American Neighborhood Mortgage Acceptance Company 700 EAST GATE DRIVE, SUITE 400 MT. LAUREL, NJ 08054 |
* | $ n/a | 1 | $ 75,000 |
| Lower, LLC 5950 SYMPHONY WOODS DRIVE COLUMBIA, MD 21044 |
* | $ n/a | 1 | $ 275,000 |
| Michigan Mutual, Inc 911 MILITARY STREET PORT HURON, MI 48060 |
* | $ n/a | 1 | $ 75,000 |
| First Reliance Bank 2170 W PALMETTO ST FLORENCE, SC 29501 |
* | $ n/a | 1 | $ 205,000 |
| First National Bank of Pa 1 FNB BOULEVARD HERMITAGE, PA 16148 |
* | $ n/a | 1 | $ 75,000 |
| Wells Fargo Bank NA MINNEAPOLIS, MN 55415 |
* | $ n/a | 1 | $ 75,000 |
| First Ciitizens Bank and Trust 4300 SIX FORKS ROAD FCC 21 RALEIGH, NC 27603 |
* | $ n/a | 1 | $ 45,000 |
| PNC Bank N.A. 249 FIFTH AVE. MS P1-POPP-22-2 PITTSBURGH, PA 15222 |
* | $ n/a | 1 | $ 185,000 |
| First Bank 112 W KING ST STRASBURG, VA 22657 |
* | $ n/a | 1 | $ 255,000 |
| Mortgage Investors Group 501 JAMES ROBERTSON PARKWAY NASHVILLE, TN 37219 |
* | $ n/a | 1 | $ 85,000 |
| Dupont Community Credit Union 140 LUCY LANE WAYNESBORO, VA 22980 |
* | $ n/a | 1 | $ 95,000 |
| Citizens Bank, NA ONE CITIZENS PLAZA PROVIDENCE, RI 02903 |
* | $ n/a | 1 | $ 55,000 |
| First Federal Bank 4705 US HWY 90 W LAKE CITY, FL 32055 |
* | $ n/a | 1 | $ 205,000 |
| Coastal Community Bank PO BOX 12220 EVERETT, WA 98203 |
* | $ n/a | 1 | $ 15,000 |
| Midfirst Bank 501 NW GRAND BLVD OKLAHOMA CITY, OK 73118 |
* | $ n/a | 1 | $ 125,000 |
The tables below break down 2024 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 2024
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 | 105 | $12,845,000 | $122,000 | $275,000 | $94,000 | $731,000 |
| Cash-out Refinancing | 19 | $2,195,000 | $115,000 | $365,000 | $58,000 | $157,000 |
| Other Purpose | 16 | $720,000 | $45,000 | $85,000 | $76,000 | $295,000 |
| Refinancing | 14 | $1,750,000 | $125,000 | $255,000 | $77,000 | $145,000 |
| Home Improvement | 11 | $355,000 | $32,000 | $75,000 | $56,000 | $116,000 |
| 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 | 108 | $10,510,000 | $97,000 | $365,000 | $85,000 | $731,000 |
| Not applicable | 33 | $4,695,000 | $142,000 | $275,000 | $0 | $0 |
| Not Provided | 12 | $1,080,000 | $90,000 | $185,000 | $58,000 | $138,000 |
| Black or African American | 8 | $1,040,000 | $130,000 | $265,000 | $64,000 | $84,000 |
| Hispanic | 2 | $180,000 | $90,000 | $115,000 | $45,000 | $49,000 |
| American Indian or Alaskan Native | 1 | $175,000 | $175,000 | $175,000 | $106,000 | $106,000 |
| Asian | 1 | $185,000 | $185,000 | $185,000 | $223,000 | $223,000 |
| 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) | 78 | $5,900,000 | $75,000 | $265,000 | $95,000 | $731,000 |
| FHA-insured (Federal Housing Administration) | 40 | $5,370,000 | $134,000 | $275,000 | $63,000 | $182,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 38 | $5,080,000 | $133,000 | $215,000 | $64,000 | $92,000 |
| VA-guaranteed (Veterans Administration) | 9 | $1,515,000 | $168,000 | $365,000 | $66,000 | $127,000 |
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 | 86 | $9,910,000 | $115,000 | $365,000 | $92,000 | $731,000 |
| Application Denied By Financial Institution | 33 | $2,485,000 | $75,000 | $245,000 | $56,000 | $157,000 |
| Loan Purchased By The Institution | 31 | $4,325,000 | $139,000 | $275,000 | $0 | $0 |
| Application Withdrawn By Applicant | 7 | $625,000 | $89,000 | $185,000 | $88,000 | $223,000 |
| File Closed For Incompleteness | 4 | $220,000 | $55,000 | $75,000 | $94,000 | $295,000 |
| Application Approved But Not Accepted | 4 | $300,000 | $75,000 | $135,000 | $69,000 | $124,000 |
| 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 | 131 | $15,125,000 | $115,000 | $365,000 | $91,000 | $731,000 |
| Credit History | 10 | $560,000 | $56,000 | $115,000 | $55,000 | $116,000 |
| Debt-To-Income Ratio | 10 | $1,100,000 | $110,000 | $255,000 | $35,000 | $90,000 |
| Credit Application Incomplete | 6 | $360,000 | $60,000 | $165,000 | $71,000 | $138,000 |
| Collateral | 4 | $320,000 | $80,000 | $125,000 | $76,000 | $157,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $290,000 | $145,000 | $245,000 | $70,000 | $106,000 |
| Other | 1 | $35,000 | $35,000 | $35,000 | $85,000 | $85,000 |
| Unverifiable Information | 1 | $75,000 | $75,000 | $75,000 | $29,000 | $29,000 |
| Mortgage Insurance Denied | 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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