Equitable Savings & Loan Assoc Mortgage Lending & HMDA Data, 2008
In 2008, Equitable Savings & Loan Assoc of Sterling, CO reported 407 mortgage applications totaling $49.5 million, up 22% from 2007. The average application was for $121,636, and applicants reported an average income of $81,049. 71% of its applications resulted in an originated loan and 17% were denied. Its largest markets were Fort Collins-Loveland, CO (52), Greeley, CO (24) and Denver-Aurora, CO (11) (applications in parentheses).
| Mortgage Company & Address | Equitable Savings & Loan Assoc Po Box 1726 Sterling, CO 80751 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 407 |
| Total Mortgage Loan Application Amount | $49,506,000 |
| Average Mortgage Loan Application Amount | $121,636 |
| Highest Mortgage Loan Application Amount | $1,163,000 |
| Average Applicant Income | $81,049 |
| Highest Applicant Income | $954,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Equitable Savings & Loan Assoc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Logan, Colorado | 69 | $ 5,898,000 | $ 85,478 | $ 73,000 |
| Yuma, Colorado | 64 | $ 5,388,000 | $ 84,187 | $ 57,000 |
| Larimer, Colorado | 52 | $ 11,039,000 | $ 212,288 | $ 145,000 |
| Sedgwick, Colorado | 38 | $ 2,606,000 | $ 68,578 | $ 44,000 |
| Morgan, Colorado | 36 | $ 3,903,000 | $ 108,416 | $ 53,000 |
| Weld, Colorado | 24 | $ 5,086,000 | $ 211,916 | $ 134,000 |
| Kit Carson, Colorado | 23 | $ 2,018,000 | $ 87,739 | $ 89,000 |
| Lincoln, Colorado | 23 | $ 1,636,000 | $ 71,130 | $ 52,000 |
| Washington, Colorado | 18 | $ 1,778,000 | $ 98,777 | $ 54,000 |
| Phillips, Colorado | 14 | $ 1,257,000 | $ 89,785 | $ 66,000 |
| Eagle, Colorado | 8 | $ 2,625,000 | $ 328,125 | $ 191,000 |
| Boulder, Colorado | 5 | $ 2,184,000 | $ 436,800 | $ 248,000 |
| Cheyenne, Colorado | 5 | $ 334,000 | $ 66,800 | $ 36,000 |
| Adams, Colorado | 3 | $ 310,000 | $ 103,333 | $ 98,000 |
| Denver, Colorado | 3 | $ 929,000 | $ 309,666 | $ 83,000 |
| El Paso, Colorado | 3 | $ 591,000 | $ 197,000 | $ 58,000 |
| Sherman, Kansas | 3 | $ 91,000 | $ 30,333 | $ 35,000 |
| Jefferson, Colorado | 2 | $ 575,000 | $ 287,500 | $ 112,000 |
| Cheyenne, Nebraska | 2 | $ 140,000 | $ 70,000 | $ 47,000 |
| Deuel, Nebraska | 2 | $ 160,000 | $ 80,000 | $ 28,000 |
| Arapahoe, Colorado | 1 | $ 128,000 | $ 128,000 | $ 35,000 |
| Costilla, Colorado | 1 | $ 13,000 | $ 13,000 | $ 66,000 |
| Douglas, Colorado | 1 | $ 140,000 | $ 140,000 | $ 42,000 |
| Elbert, Colorado | 1 | $ 84,000 | $ 84,000 | $ 39,000 |
| Gunnison, Colorado | 1 | $ 200,000 | $ 200,000 | $ 303,000 |
| Mesa, Colorado | 1 | $ 152,000 | $ 152,000 | $ 42,000 |
| Cheyenne, Kansas | 1 | $ 30,000 | $ 30,000 | $ 75,000 |
| Box Butte, Nebraska | 1 | $ 43,000 | $ 43,000 | $ 75,000 |
| Keith, Nebraska | 1 | $ 77,000 | $ 77,000 | $ 58,000 |
| Scotts Bluff, Nebraska | 1 | $ 91,000 | $ 91,000 | $ 40,000 |
Mortgage Loan Application Detail Totals for Equitable Savings & Loan Assoc 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 | 192 | $23,331,000 | $121,000 | $1,064,000 | $76,000 | $922,000 |
| Refinancing | 176 | $24,874,000 | $141,000 | $1,163,000 | $91,000 | $954,000 |
| Home Improvement | 39 | $1,301,000 | $33,000 | $260,000 | $61,000 | $157,000 |
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 | 373 | $46,366,000 | $124,000 | $1,163,000 | $84,000 | $954,000 |
| Hispanic | 26 | $2,698,000 | $103,000 | $268,000 | $49,000 | $242,000 |
| Black or African American | 2 | $36,000 | $18,000 | $33,000 | $36,000 | $45,000 |
| Not applicable | 2 | $82,000 | $41,000 | $50,000 | $143,000 | $157,000 |
| Not Provided | 2 | $257,000 | $128,000 | $250,000 | $62,000 | $71,000 |
| American Indian or Alaskan Native | 1 | $27,000 | $27,000 | $27,000 | $10,000 | $10,000 |
| Asian | 1 | $40,000 | $40,000 | $40,000 | $28,000 | $28,000 |
| 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) | 352 | $45,858,000 | $130,000 | $1,163,000 | $88,000 | $954,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 42 | $3,486,000 | $83,000 | $224,000 | $37,000 | $77,000 |
| FHA-insured (Federal Housing Administration) | 13 | $162,000 | $12,000 | $21,000 | $47,000 | $92,000 |
| 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 | 287 | $33,369,000 | $116,000 | $1,163,000 | $83,000 | $887,000 |
| Application Denied By Financial Institution | 71 | $7,742,000 | $109,000 | $480,000 | $67,000 | $954,000 |
| Application Withdrawn By Applicant | 39 | $5,825,000 | $149,000 | $840,000 | $83,000 | $420,000 |
| Loan Purchased By The Institution | 7 | $2,323,000 | $331,000 | $417,000 | $169,000 | $922,000 |
| File Closed For Incompleteness | 3 | $247,000 | $82,000 | $123,000 | $37,000 | $55,000 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Credit History | 31 | $2,372,000 | $76,000 | $171,000 | $41,000 | $202,000 |
| Collateral | 16 | $2,362,000 | $147,000 | $450,000 | $120,000 | $954,000 |
| Debt-To-Income Ratio | 13 | $1,598,000 | $122,000 | $480,000 | $87,000 | $586,000 |
| Credit Application Incomplete | 6 | $863,000 | $143,000 | $350,000 | $50,000 | $90,000 |
| Employment History | 2 | $164,000 | $82,000 | $84,000 | $22,000 | $28,000 |
| Mortgage Insurance Denied | 1 | $93,000 | $93,000 | $93,000 | $30,000 | $30,000 |
| Other | 1 | $140,000 | $140,000 | $140,000 | $79,000 | $79,000 |
| Unverifiable Information | 1 | $150,000 | $150,000 | $150,000 | $19,000 | $19,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Equitable Savings & Loan Assoc'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 Equitable Savings & Loan Assoc'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 Colorado, download the full spreadsheet
with aggregated HMDA statistics today.
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