Boone Bank & Trust Co. Mortgage Lending & HMDA Data, 2019
In 2019, Boone Bank & Trust Co. of Boone, IA reported 42 mortgage applications totaling $6.3 million. The average application was for $149,047, and applicants reported an average income of $92,317. 83% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Ames, IA (33) and Des Moines-West Des Moines, IA (6).
| 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 | 42 |
| Total Mortgage Loan Application Amount | $6,260,000 |
| Average Mortgage Loan Application Amount | $149,047 |
| Highest Mortgage Loan Application Amount | $455,000 |
| Average Applicant Income | $92,317 |
| Highest Applicant Income | $360,000 |
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(HMDA) records Boone Bank & Trust Co. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Ames, IA | 33 | $ 4,565,000 | $ 138,333 | $ 73,000 |
| Des Moines-West Des Moines, IA | 6 | $ 1,210,000 | $ 201,666 | $ 187,000 |
| Outside any metro area | 3 | $ 485,000 | $ 161,666 | $ 244,000 |
Mortgage Loan Application Detail Totals for Boone Bank & Trust Co. in 2019
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 | 32 | $4,440,000 | $138,000 | $455,000 | $85,000 | $360,000 |
| Refinancing | 5 | $1,175,000 | $235,000 | $335,000 | $165,000 | $315,000 |
| Cash-out Refinancing | 4 | $390,000 | $97,000 | $275,000 | $60,000 | $63,000 |
| Home Improvement | 1 | $255,000 | $255,000 | $255,000 | $0 | $0 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 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 | 33 | $4,985,000 | $151,000 | $455,000 | $97,000 | $360,000 |
| Not applicable | 8 | $1,190,000 | $148,000 | $275,000 | $0 | $0 |
| Hispanic | 1 | $85,000 | $85,000 | $85,000 | $36,000 | $36,000 |
| 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) | 36 | $5,720,000 | $158,000 | $455,000 | $106,000 | $360,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 6 | $540,000 | $90,000 | $115,000 | $46,000 | $61,000 |
| 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 | 35 | $5,635,000 | $161,000 | $455,000 | $93,000 | $315,000 |
| Application Denied By Financial Institution | 5 | $465,000 | $93,000 | $225,000 | $52,000 | $62,000 |
| Application Withdrawn By Applicant | 1 | $45,000 | $45,000 | $45,000 | $109,000 | $109,000 |
| Application Approved But Not Accepted | 1 | $115,000 | $115,000 | $115,000 | $360,000 | $360,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 42 | $6,260,000 | $149,000 | $455,000 | $95,000 | $360,000 |
| 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 2019 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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