1st Choice Mortgage/Equity Cor Mortgage Lending & HMDA Data, 2008
In 2008, 1st Choice Mortgage/Equity Cor of Columbia, SC reported 8,144 mortgage applications totaling $939.6 million, up 22% from 2007. The average application was for $115,374, and applicants reported an average income of $39,807. 14% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Columbia, SC (1,087), Sumter, SC (378) and Florence, SC (273) (applications in parentheses).
| Mortgage Company & Address | 1st Choice Mortgage/Equity Cor 1021 Briargate Circle Columbia, SC 29210 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 8,144 |
| Total Mortgage Loan Application Amount | $939,607,000 |
| Average Mortgage Loan Application Amount | $115,374 |
| Highest Mortgage Loan Application Amount | $2,975,000 |
| Average Applicant Income | $39,807 |
| Highest Applicant Income | $1,020,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records 1st Choice Mortgage/Equity Cor filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
Mortgage Loan Application Detail Totals for 1st Choice Mortgage/Equity Cor 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 6,320 | $686,071,000 | $108,000 | $2,800,000 | $36,000 | $641,000 |
| Refinancing | 1,824 | $253,536,000 | $139,000 | $2,975,000 | $53,000 | $1,020,000 |
| Home Improvement | 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 | 4,274 | $531,657,000 | $124,000 | $2,975,000 | $45,000 | $1,020,000 |
| Black or African American | 3,657 | $380,936,000 | $104,000 | $1,406,000 | $33,000 | $420,000 |
| Hispanic | 127 | $14,076,000 | $110,000 | $242,000 | $32,000 | $180,000 |
| Asian | 41 | $7,702,000 | $187,000 | $1,020,000 | $64,000 | $600,000 |
| American Indian or Alaskan Native | 31 | $3,645,000 | $117,000 | $368,000 | $23,000 | $84,000 |
| Native Hawaiian or Other Pacific Islander | 14 | $1,591,000 | $113,000 | $203,000 | $32,000 | $104,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 4,532 | $491,223,000 | $108,000 | $345,000 | $34,000 | $696,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 2,570 | $331,949,000 | $129,000 | $2,975,000 | $51,000 | $1,020,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 774 | $81,720,000 | $105,000 | $316,000 | $30,000 | $141,000 |
| VA-guaranteed (Veterans Administration) | 268 | $34,715,000 | $129,000 | $467,000 | $45,000 | $282,000 |
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 |
|---|---|---|---|---|---|---|
| Preapproval Denied by Financial Institution | 3,552 | $352,363,000 | $99,000 | $1,100,000 | $27,000 | $641,000 |
| Application Withdrawn By Applicant | 1,278 | $164,389,000 | $128,000 | $2,975,000 | $52,000 | $600,000 |
| Application Denied By Financial Institution | 1,158 | $146,414,000 | $126,000 | $2,800,000 | $46,000 | $1,020,000 |
| Loan Originated | 1,112 | $143,238,000 | $128,000 | $417,000 | $53,000 | $637,000 |
| File Closed For Incompleteness | 740 | $100,342,000 | $135,000 | $788,000 | $42,000 | $396,000 |
| Preapproval Approved but not Accepted | 249 | $26,252,000 | $105,000 | $459,000 | $40,000 | $391,000 |
| Application Approved But Not Accepted | 55 | $6,609,000 | $120,000 | $417,000 | $67,000 | $315,000 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into 1st Choice Mortgage/Equity Cor's 2008 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess 1st Choice Mortgage/Equity Cor's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in South Carolina, download the full spreadsheet
with aggregated HMDA statistics today.
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