Boone Bank & Trust Co. Mortgage Lending & HMDA Data, 2023
In 2023, Boone Bank & Trust Co. of Boone, IA reported 17 mortgage applications totaling $1.5 million. The average application was for $88,529, and applicants reported an average income of $73,470. 59% of its applications resulted in an originated loan and 24% were denied. Its largest markets were Ames, IA (16) and Des Moines-West Des Moines, IA (1).
| Mortgage Company & Address | Boone Bank & Trust Co. 716 8th St Boone, IA 50036 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2023 2019 |
| Total Number of Mortgage Applications | 17 |
| Total Mortgage Loan Application Amount | $1,505,000 |
| Average Mortgage Loan Application Amount | $88,529 |
| Highest Mortgage Loan Application Amount | $235,000 |
| Average Applicant Income | $73,470 |
| Highest Applicant Income | $196,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Boone Bank & Trust Co. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Boone, Iowa | 16 | $ 1,270,000 | $ 79,375 | $ 73,000 |
| Polk, Iowa | 1 | $ 235,000 | $ 235,000 | $ 100,000 |
Mortgage Loan Application Detail Totals for Boone Bank & Trust Co. 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 | 9 | $925,000 | $102,000 | $235,000 | $81,000 | $196,000 |
| Home Purchase | 5 | $515,000 | $103,000 | $225,000 | $62,000 | $94,000 |
| Home Improvement | 3 | $65,000 | $21,000 | $25,000 | $70,000 | $70,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 0 | $0 | $0 | $0 | $0 | $0 |
| Refinancing | 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 | 14 | $1,070,000 | $76,000 | $225,000 | $73,000 | $196,000 |
| Not applicable | 2 | $200,000 | $100,000 | $175,000 | $0 | $0 |
| Hispanic | 1 | $235,000 | $235,000 | $235,000 | $100,000 | $100,000 |
| 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 |
| Black or African American | 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 |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 16 | $1,470,000 | $91,000 | $235,000 | $77,000 | $196,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $35,000 | $35,000 | $35,000 | $44,000 | $44,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing 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 | 10 | $760,000 | $76,000 | $235,000 | $65,000 | $100,000 |
| Application Denied By Financial Institution | 4 | $350,000 | $87,000 | $125,000 | $105,000 | $196,000 |
| Application Withdrawn By Applicant | 3 | $395,000 | $131,000 | $225,000 | $62,000 | $94,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 17 | $1,505,000 | $88,000 | $235,000 | $75,000 | $196,000 |
| 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 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Boone Bank & Trust Co.'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 Boone Bank & Trust Co.'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.
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