Galax City, VA Mortgage Lenders & HMDA Data, 2017
In 2017, lenders reported 206 mortgage applications in Galax City, VA totaling $22.5 million, up 7% from 2016. The average application was for $109,000, and applicants reported an average income of $47,000. 50% of applications resulted in an originated loan and 19% were denied. The most active lender was Atlantic Bay Mortgage Group, with 19 applications, followed by Vanderbilt Mortgage and Finance, Inc and Skyline National 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 | 206 |
| Total Mortgage Loan Application Amount | $22,547,000 |
| Average Mortgage Loan Application Amount | $109,000 |
| Highest Mortgage Loan Application Amount | $582,000 |
| Average Applicant Income | $47,000 |
| Highest Applicant Income | $455,000 |
Top Mortgage Lenders in Galax City, VA (2017)
Ranked by the number of mortgage applications each lender reported in Galax City, VA in 2017.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Atlantic Bay Mortgage Group Virginia Beach, VA |
19 | $2,540,000 | $133,000 | $62,000 |
| 2 | Vanderbilt Mortgage and Finance, Inc Maryville, TN |
17 | $1,411,000 | $83,000 | $38,000 |
| 3 | Skyline National Bank Independence, VA |
14 | $1,144,000 | $81,000 | $54,000 |
| 4 | Wells Fargo Bank NA Minneapolis, MN |
13 | $1,282,000 | $98,000 | $52,000 |
| 5 | Embrace Home Loans, Inc. Middletown, RI |
10 | $950,000 | $95,000 | $35,000 |
| 6 | Carter Bank and Trust Martinsville, VA |
10 | $440,000 | $44,000 | $52,000 |
| 7 | Truist Bank Raleigh, NC |
9 | $925,000 | $102,000 | $58,000 |
| 8 | PennyMac Loan Services LLC Westlake Village, CA |
9 | $1,333,000 | $148,000 | $0 |
| 9 | Freedom Mortgage Corporation Boca Raton, FL |
6 | $421,000 | $70,000 | $23,000 |
| 10 | First Ciitizens Bank and Trust Raleigh, NC |
5 | $442,000 | $88,000 | $72,000 |
The tables below break down 2017 mortgage applications in Galax 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 Galax City, VA in 2017
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 | 118 | $11,827,000 | $100,000 | $451,000 | $46,000 | $455,000 |
| Refinancing | 72 | $10,183,000 | $141,000 | $582,000 | $45,000 | $264,000 |
| Home Improvement | 16 | $537,000 | $33,000 | $180,000 | $62,000 | $202,000 |
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 | 152 | $16,887,000 | $111,000 | $582,000 | $53,000 | $455,000 |
| Not applicable | 20 | $2,443,000 | $122,000 | $451,000 | $0 | $0 |
| Not Provided | 18 | $1,913,000 | $106,000 | $207,000 | $51,000 | $202,000 |
| Hispanic | 13 | $894,000 | $68,000 | $180,000 | $31,000 | $58,000 |
| Black or African American | 3 | $410,000 | $136,000 | $221,000 | $72,000 | $82,000 |
| 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) | 126 | $13,400,000 | $106,000 | $582,000 | $56,000 | $455,000 |
| FHA-insured (Federal Housing Administration) | 41 | $4,220,000 | $102,000 | $188,000 | $31,000 | $116,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 21 | $2,056,000 | $97,000 | $149,000 | $28,000 | $56,000 |
| VA-guaranteed (Veterans Administration) | 18 | $2,871,000 | $159,000 | $451,000 | $39,000 | $221,000 |
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 | 103 | $9,880,000 | $95,000 | $451,000 | $54,000 | $455,000 |
| Application Denied By Financial Institution | 40 | $4,095,000 | $102,000 | $582,000 | $35,000 | $122,000 |
| Application Withdrawn By Applicant | 24 | $2,711,000 | $112,000 | $582,000 | $51,000 | $138,000 |
| Loan Purchased By The Institution | 19 | $2,361,000 | $124,000 | $451,000 | $6,000 | $85,000 |
| File Closed For Incompleteness | 17 | $3,190,000 | $187,000 | $582,000 | $66,000 | $217,000 |
| Application Approved But Not Accepted | 3 | $310,000 | $103,000 | $126,000 | $59,000 | $84,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 11 | $767,000 | $69,000 | $157,000 | $30,000 | $69,000 |
| Debt-To-Income Ratio | 4 | $906,000 | $226,000 | $582,000 | $57,000 | $122,000 |
| Other | 4 | $658,000 | $164,000 | $476,000 | $26,000 | $34,000 |
| Collateral | 2 | $236,000 | $118,000 | $148,000 | $53,000 | $61,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $53,000 | $53,000 | $53,000 | $28,000 | $28,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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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