Holland-Grand Haven, MI Metro Area Mortgage Lenders & HMDA Data, 2008
In 2008, lenders reported 14,491 mortgage applications in Holland-Grand Haven, MI metro area totaling $2.1 billion, down 23% from 2007. The average application was for $145,228, and applicants reported an average income of $65,000. 48% of applications resulted in an originated loan and 16% were denied. The most active lender was Fifth Third Mortgage, Mi LLC, with 1,590 applications, followed by Fifth Third Mortgage Company and JPMorgan Chase Bank, NA.
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| Years | 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 14,491 |
| Total Mortgage Loan Application Amount | $2,104,506,000 |
| Average Mortgage Loan Application Amount | $145,228 |
| Highest Mortgage Loan Application Amount | $5,900,000 |
| Average Applicant Income | $65,000 |
| Highest Applicant Income | $4,400,000 |
Top Mortgage Lenders in Holland-Grand Haven, MI Metro Area (2008)
Ranked by the number of mortgage applications each lender reported in Holland-Grand Haven, MI metro area in 2008.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Fifth Third Mortgage, Mi LLC Cincinnati, OH |
1,590 | $263,508,000 | $165,000 | $78,000 |
| 2 | Fifth Third Mortgage Company Cincinnati, OH |
1,178 | $181,630,000 | $154,000 | $1,000 |
| 3 | JPMorgan Chase Bank, NA Columbus, OH |
906 | $143,935,000 | $158,000 | $65,000 |
| 4 | Countrywide Bank FSB Westlake Village, CA |
831 | $133,011,000 | $160,000 | $80,000 |
| 5 | Macatawa Bank, N.A. Rosemont, IL |
782 | $106,676,000 | $136,000 | $75,000 |
| 6 | Lake Michigan Credit Union Grand Rapids, MI |
774 | $94,115,000 | $121,000 | $75,000 |
| 7 | The Huntington National Bank Columbus, OH |
677 | $99,232,000 | $146,000 | $74,000 |
| 8 | Flagstar Bank Troy, MI |
466 | $65,717,000 | $141,000 | $62,000 |
| 9 | Citimortgage, Inc New York, NY |
319 | $51,077,000 | $160,000 | $68,000 |
| 10 | First Place Bank Warren, OH |
318 | $53,960,000 | $169,000 | $74,000 |
See every lender active in Holland-Grand Haven, MI metro area in 2008 »
The tables below break down 2008 mortgage applications in Holland-Grand Haven, MI metro area by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.
Mortgage Loan Application Detail Totals for Holland-Grand Haven, MI in 2008
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 |
|---|---|---|---|---|---|---|
| Refinancing | 9,020 | $1,418,562,000 | $157,000 | $2,800,000 | $66,000 | $1,889,000 |
| Home Purchase | 4,572 | $635,784,000 | $139,000 | $4,264,000 | $63,000 | $4,400,000 |
| Home Improvement | 899 | $50,160,000 | $55,000 | $5,900,000 | $68,000 | $1,282,000 |
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 | 11,783 | $1,735,554,000 | $147,000 | $5,900,000 | $69,000 | $4,400,000 |
| Not Provided | 955 | $122,977,000 | $128,000 | $1,000,000 | $73,000 | $3,056,000 |
| Not applicable | 728 | $124,083,000 | $170,000 | $4,264,000 | $21,000 | $534,000 |
| Hispanic | 644 | $71,222,000 | $110,000 | $470,000 | $45,000 | $469,000 |
| Asian | 226 | $29,156,000 | $129,000 | $480,000 | $59,000 | $218,000 |
| Black or African American | 96 | $14,342,000 | $149,000 | $1,115,000 | $55,000 | $182,000 |
| American Indian or Alaskan Native | 32 | $3,420,000 | $106,000 | $416,000 | $60,000 | $354,000 |
| Native Hawaiian or Other Pacific Islander | 27 | $3,752,000 | $138,000 | $276,000 | $49,000 | $143,000 |
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) | 11,115 | $1,628,176,000 | $146,000 | $5,900,000 | $72,000 | $4,400,000 |
| FHA-insured (Federal Housing Administration) | 3,154 | $444,425,000 | $140,000 | $280,000 | $44,000 | $310,000 |
| VA-guaranteed (Veterans Administration) | 119 | $18,276,000 | $153,000 | $400,000 | $39,000 | $138,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 103 | $13,629,000 | $132,000 | $237,000 | $36,000 | $84,000 |
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 | 6,934 | $992,318,000 | $143,000 | $4,264,000 | $78,000 | $4,400,000 |
| Loan Purchased By The Institution | 3,111 | $477,656,000 | $153,000 | $1,316,000 | $31,000 | $1,607,000 |
| Application Denied By Financial Institution | 2,334 | $320,335,000 | $137,000 | $5,900,000 | $65,000 | $1,320,000 |
| Application Withdrawn By Applicant | 964 | $146,131,000 | $151,000 | $1,280,000 | $73,000 | $594,000 |
| Application Approved But Not Accepted | 805 | $118,298,000 | $146,000 | $2,131,000 | $79,000 | $1,973,000 |
| File Closed For Incompleteness | 341 | $49,580,000 | $145,000 | $417,000 | $70,000 | $745,000 |
| Preapproval Approved but not Accepted | 1 | $128,000 | $128,000 | $128,000 | $76,000 | $76,000 |
| Preapproval Denied by Financial Institution | 1 | $60,000 | $60,000 | $60,000 | $14,000 | $14,000 |
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 |
|---|---|---|---|---|---|---|
| Collateral | 525 | $83,294,000 | $158,000 | $1,350,000 | $83,000 | $1,320,000 |
| Credit History | 377 | $41,197,000 | $109,000 | $1,115,000 | $61,000 | $800,000 |
| Debt-To-Income Ratio | 305 | $41,398,000 | $135,000 | $1,361,000 | $47,000 | $186,000 |
| Credit Application Incomplete | 147 | $27,202,000 | $185,000 | $5,900,000 | $70,000 | $809,000 |
| Other | 113 | $14,967,000 | $132,000 | $417,000 | $65,000 | $240,000 |
| Unverifiable Information | 58 | $9,503,000 | $163,000 | $1,175,000 | $79,000 | $480,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 24 | $3,841,000 | $160,000 | $288,000 | $71,000 | $190,000 |
| Employment History | 18 | $2,439,000 | $135,000 | $399,000 | $55,000 | $185,000 |
| Mortgage Insurance Denied | 9 | $1,189,000 | $132,000 | $318,000 | $57,000 | $223,000 |
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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