Fairfax City, VA Mortgage Lenders & HMDA Data, 2024
In 2024, lenders reported 843 mortgage applications in Fairfax City, VA totaling $382.1 million, down 2% from 2023. The average application was for $453,000, and applicants reported an average income of $194,000. 52% of applications resulted in an originated loan and 14% were denied. The most active lender was Navy Federal Credit Union, with 53 applications, followed by PennyMac Loan Services LLC and NVR Mortgage Finance, Inc..
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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 | 843 |
| Total Mortgage Loan Application Amount | $382,125,000 |
| Average Mortgage Loan Application Amount | $453,000 |
| Highest Mortgage Loan Application Amount | $5,505,000 |
| Average Applicant Income | $194,000 |
| Highest Applicant Income | $4,680,000 |
Top Mortgage Lenders in Fairfax City, VA (2024)
Ranked by the number of mortgage applications each lender reported in Fairfax City, VA in 2024.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Navy Federal Credit Union Vienna, VA |
53 | $16,775,000 | $316,000 | $179,000 |
| 2 | PennyMac Loan Services LLC Westlake Village, CA |
37 | $23,025,000 | $622,000 | $181,000 |
| 3 | NVR Mortgage Finance, Inc. Pittsburgh, PA |
35 | $24,575,000 | $702,000 | $242,000 |
| 4 | United Wholesale Mortgage Plymouth, MI |
35 | $20,245,000 | $578,000 | $161,000 |
| 5 | Apple Federal Credit Union Fairfax, VA |
26 | $5,080,000 | $195,000 | $341,000 |
| 6 | Bank of America NA Westlake Village, CA |
25 | $4,675,000 | $187,000 | $151,000 |
| 7 | Truist Bank Raleigh, NC |
24 | $6,740,000 | $280,000 | $192,000 |
| 8 | Discover Bank Greenwood, DE |
23 | $2,065,000 | $89,000 | $256,000 |
| 9 | PNC Bank N.A. Pittsburgh, PA |
20 | $4,800,000 | $240,000 | $111,000 |
| 10 | Freedom Mortgage Corporation Boca Raton, FL |
19 | $12,495,000 | $657,000 | $136,000 |
The tables below break down 2024 mortgage applications in Fairfax 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 Fairfax 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 | 466 | $286,350,000 | $614,000 | $1,495,000 | $208,000 | $2,309,000 |
| Home Improvement | 104 | $13,700,000 | $131,000 | $505,000 | $173,000 | $500,000 |
| Other Purpose | 104 | $16,410,000 | $157,000 | $995,000 | $197,000 | $4,680,000 |
| Refinancing | 91 | $40,435,000 | $444,000 | $1,445,000 | $185,000 | $1,027,000 |
| Cash-out Refinancing | 76 | $19,520,000 | $256,000 | $685,000 | $152,000 | $376,000 |
| Not Applicable | 2 | $5,710,000 | $2,855,000 | $5,505,000 | $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 | 333 | $142,345,000 | $427,000 | $1,495,000 | $225,000 | $4,680,000 |
| Asian | 194 | $87,780,000 | $452,000 | $1,085,000 | $176,000 | $753,000 |
| Not Provided | 109 | $50,355,000 | $461,000 | $1,295,000 | $192,000 | $1,027,000 |
| Not applicable | 90 | $58,160,000 | $646,000 | $1,345,000 | $230,000 | $398,000 |
| Hispanic | 80 | $24,790,000 | $309,000 | $1,195,000 | $124,000 | $388,000 |
| Black or African American | 32 | $11,430,000 | $357,000 | $1,145,000 | $172,000 | $443,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $7,125,000 | $2,375,000 | $5,505,000 | $210,000 | $210,000 |
| American Indian or Alaskan Native | 2 | $140,000 | $70,000 | $105,000 | $40,000 | $51,000 |
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) | 711 | $291,545,000 | $410,000 | $5,505,000 | $193,000 | $4,680,000 |
| VA-guaranteed (Veterans Administration) | 91 | $70,505,000 | $774,000 | $1,495,000 | $240,000 | $1,326,000 |
| FHA-insured (Federal Housing Administration) | 41 | $20,075,000 | $489,000 | $785,000 | $129,000 | $315,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 442 | $212,730,000 | $481,000 | $5,505,000 | $195,000 | $789,000 |
| Application Denied By Financial Institution | 119 | $28,175,000 | $236,000 | $1,305,000 | $156,000 | $2,309,000 |
| Application Withdrawn By Applicant | 117 | $59,915,000 | $512,000 | $1,245,000 | $188,000 | $1,027,000 |
| Loan Purchased By The Institution | 91 | $56,245,000 | $618,000 | $1,295,000 | $200,000 | $398,000 |
| File Closed For Incompleteness | 47 | $15,805,000 | $336,000 | $1,295,000 | $306,000 | $4,680,000 |
| Application Approved But Not Accepted | 20 | $6,400,000 | $320,000 | $755,000 | $202,000 | $500,000 |
| Preapproval Approved but not Accepted | 6 | $2,600,000 | $433,000 | $815,000 | $105,000 | $183,000 |
| Preapproval Denied by Financial Institution | 1 | $255,000 | $255,000 | $255,000 | $133,000 | $133,000 |
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 | 721 | $351,475,000 | $487,000 | $5,505,000 | $202,000 | $4,680,000 |
| Debt-To-Income Ratio | 43 | $12,105,000 | $281,000 | $1,345,000 | $87,000 | $210,000 |
| Credit Application Incomplete | 22 | $4,900,000 | $222,000 | $825,000 | $183,000 | $400,000 |
| Credit History | 21 | $4,705,000 | $224,000 | $1,305,000 | $181,000 | $507,000 |
| Collateral | 16 | $3,220,000 | $201,000 | $585,000 | $160,000 | $323,000 |
| Other | 14 | $3,720,000 | $265,000 | $815,000 | $286,000 | $2,309,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $1,610,000 | $402,000 | $795,000 | $134,000 | $194,000 |
| Unverifiable Information | 1 | $305,000 | $305,000 | $305,000 | $130,000 | $130,000 |
| Employment History | 1 | $85,000 | $85,000 | $85,000 | $178,000 | $178,000 |
| 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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