Baylands Family Credit Union Mortgage Lending & HMDA Data, 2023
In 2023, Baylands Family Credit Union of West Point, VA reported 41 mortgage applications totaling $4.2 million, up 8% from 2022. The average application was for $101,829, and applicants reported an average income of $101,146. 66% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Richmond, VA (26) and Virginia Beach-Norfolk-Newport News, VA-NC (10).
| Mortgage Company & Address | Baylands Family Credit Union Po Box 392, 2004 Main Street West Point, VA 23181 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 |
| Total Number of Mortgage Applications | 41 |
| Total Mortgage Loan Application Amount | $4,175,000 |
| Average Mortgage Loan Application Amount | $101,829 |
| Highest Mortgage Loan Application Amount | $315,000 |
| Average Applicant Income | $101,146 |
| Highest Applicant Income | $223,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Baylands Family Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| King William, Virginia | 9 | $ 1,185,000 | $ 131,666 | $ 93,000 |
| New Kent, Virginia | 6 | $ 510,000 | $ 85,000 | $ 86,000 |
| Gloucester, Virginia | 5 | $ 435,000 | $ 87,000 | $ 118,000 |
| King and Queen, Virginia | 5 | $ 725,000 | $ 145,000 | $ 76,000 |
| James City, Virginia | 4 | $ 330,000 | $ 82,500 | $ 140,000 |
| Middlesex, Virginia | 3 | $ 155,000 | $ 51,666 | $ 100,000 |
| Hanover, Virginia | 2 | $ 310,000 | $ 155,000 | $ 57,000 |
| Henrico, Virginia | 2 | $ 190,000 | $ 95,000 | $ 130,000 |
| Richmond, Virginia | 2 | $ 90,000 | $ 45,000 | $ 152,000 |
| Chesterfield, Virginia | 1 | $ 35,000 | $ 35,000 | $ 110,000 |
| Richmond City, Virginia | 1 | $ 55,000 | $ 55,000 | $ 0 |
| York, Virginia | 1 | $ 155,000 | $ 155,000 | $ 0 |
Mortgage Loan Application Detail Totals for Baylands Family Credit Union in 2023
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 |
|---|---|---|---|---|---|---|
| Cash-out Refinancing | 34 | $3,040,000 | $89,000 | $315,000 | $106,000 | $223,000 |
| Home Purchase | 5 | $875,000 | $175,000 | $225,000 | $83,000 | $206,000 |
| Refinancing | 2 | $260,000 | $130,000 | $215,000 | $64,000 | $64,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 29 | $3,365,000 | $116,000 | $315,000 | $97,000 | $223,000 |
| Not Provided | 8 | $560,000 | $70,000 | $155,000 | $107,000 | $206,000 |
| Black or African American | 3 | $155,000 | $51,000 | $85,000 | $0 | $0 |
| Hispanic | 1 | $95,000 | $95,000 | $95,000 | $157,000 | $157,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 41 | $4,175,000 | $101,000 | $315,000 | $101,000 | $223,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 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 | 27 | $3,045,000 | $112,000 | $315,000 | $102,000 | $223,000 |
| Application Withdrawn By Applicant | 8 | $580,000 | $72,000 | $155,000 | $0 | $0 |
| Application Denied By Financial Institution | 5 | $505,000 | $101,000 | $205,000 | $57,000 | $57,000 |
| Application Approved But Not Accepted | 1 | $45,000 | $45,000 | $45,000 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 36 | $3,670,000 | $101,000 | $315,000 | $102,000 | $223,000 |
| Credit History | 4 | $430,000 | $107,000 | $205,000 | $57,000 | $57,000 |
| Collateral | 1 | $75,000 | $75,000 | $75,000 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Baylands Family Credit Union's 2023 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 Baylands Family Credit Union'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 Virginia, download the full spreadsheet
with aggregated HMDA statistics today.
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