Budget Mortgage Corp. Mortgage Lending & HMDA Data, 2021
In 2021, Budget Mortgage Corp. of Los Angeles, CA reported 135 mortgage applications totaling $57.6 million, up 50% from 2020. The average application was for $426,925, and applicants reported an average income of $147,000. 57% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Los Angeles-Long Beach-Glendale, CA (82), Riverside-San Bernardino-Ontario, CA (15) and San Jose-Sunnyvale-Santa Clara, CA (12) (applications in parentheses).
| Mortgage Company & Address | Budget Mortgage Corp. 1849 Sawtelle Blvd #700 Los Angeles, CA 90025 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2021 2020 2019 |
| Total Number of Mortgage Applications | 135 |
| Total Mortgage Loan Application Amount | $57,635,000 |
| Average Mortgage Loan Application Amount | $426,925 |
| Highest Mortgage Loan Application Amount | $1,625,000 |
| Average Applicant Income | $147,000 |
| Highest Applicant Income | $546,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Budget Mortgage Corp. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Budget Mortgage Corp. in 2021
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 | 105 | $48,385,000 | $460,000 | $1,625,000 | $154,000 | $546,000 |
| Refinancing | 15 | $4,575,000 | $305,000 | $655,000 | $153,000 | $360,000 |
| Cash-out Refinancing | 12 | $4,290,000 | $357,000 | $1,165,000 | $94,000 | $144,000 |
| Home Improvement | 3 | $385,000 | $128,000 | $255,000 | $84,000 | $84,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 77 | $35,745,000 | $464,000 | $1,625,000 | $0 | $0 |
| Hispanic | 29 | $10,095,000 | $348,000 | $925,000 | $132,000 | $546,000 |
| White | 11 | $5,725,000 | $520,000 | $1,005,000 | $160,000 | $480,000 |
| Black or African American | 7 | $1,985,000 | $283,000 | $725,000 | $129,000 | $200,000 |
| Asian | 6 | $2,520,000 | $420,000 | $785,000 | $202,000 | $300,000 |
| Not Provided | 4 | $1,340,000 | $335,000 | $405,000 | $108,000 | $120,000 |
| American Indian or Alaskan Native | 1 | $225,000 | $225,000 | $225,000 | $360,000 | $360,000 |
| Native Hawaiian or Other Pacific Islander | 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) | 135 | $57,635,000 | $426,000 | $1,625,000 | $146,000 | $546,000 |
| 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 | 77 | $31,115,000 | $404,000 | $1,355,000 | $176,000 | $546,000 |
| Application Withdrawn By Applicant | 39 | $18,855,000 | $483,000 | $1,625,000 | $100,000 | $166,000 |
| File Closed For Incompleteness | 13 | $5,585,000 | $429,000 | $1,165,000 | $144,000 | $180,000 |
| Application Denied By Financial Institution | 4 | $1,120,000 | $280,000 | $405,000 | $119,000 | $186,000 |
| Application Approved But Not Accepted | 2 | $960,000 | $480,000 | $655,000 | $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 | 131 | $56,515,000 | $431,000 | $1,625,000 | $148,000 | $546,000 |
| Collateral | 3 | $775,000 | $258,000 | $405,000 | $130,000 | $186,000 |
| Credit History | 1 | $345,000 | $345,000 | $345,000 | $87,000 | $87,000 |
| 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 |
| Credit Application Incomplete | 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 Budget Mortgage Corp.'s 2021 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 Budget Mortgage Corp.'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 California, download the full spreadsheet
with aggregated HMDA statistics today.
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