Essential Mortgage Partners, LLC Mortgage Lending & HMDA Data, 2023
In 2023, Essential Mortgage Partners, LLC of Dover, DE reported 273 mortgage applications totaling $73.0 million, up 39% from 2022. The average application was for $267,527, and applicants reported an average income of $123,761. 64% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Baton Rouge, LA (162), New Orleans-Metairie, LA (59) and Lafayette, LA (31) (applications in parentheses).
| Mortgage Company & Address | Essential Mortgage Partners, LLC 430 Notre Dame St Dover, DE 70065 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2023 2022 |
| Total Number of Mortgage Applications | 273 |
| Total Mortgage Loan Application Amount | $73,035,000 |
| Average Mortgage Loan Application Amount | $267,527 |
| Highest Mortgage Loan Application Amount | $725,000 |
| Average Applicant Income | $123,761 |
| Highest Applicant Income | $1,104,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Essential Mortgage Partners, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Baton Rouge, LA | 162 | $ 45,440,000 | $ 280,493 | $ 122,000 |
| New Orleans-Metairie, LA | 59 | $ 16,585,000 | $ 281,101 | $ 144,000 |
| Lafayette, LA | 31 | $ 6,355,000 | $ 205,000 | $ 108,000 |
| Houston-The Woodlands-Sugar Land, TX | 9 | $ 2,335,000 | $ 259,444 | $ 147,000 |
| Houma-Thibodaux, LA | 3 | $ 645,000 | $ 215,000 | $ 96,000 |
| Outside any metro area | 3 | $ 385,000 | $ 128,333 | $ 52,000 |
| Gulfport-Biloxi-Pascagoula, MS | 2 | $ 400,000 | $ 200,000 | $ 87,000 |
| Hammond, LA | 2 | $ 450,000 | $ 225,000 | $ 52,000 |
| Alexandria, LA | 1 | $ 195,000 | $ 195,000 | $ 105,000 |
| Lake Charles, LA | 1 | $ 245,000 | $ 245,000 | $ 73,000 |
Mortgage Loan Application Detail Totals for Essential Mortgage Partners, LLC 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 267 | $71,335,000 | $267,000 | $725,000 | $123,000 | $1,104,000 |
| Refinancing | 3 | $985,000 | $328,000 | $465,000 | $95,000 | $135,000 |
| Cash-out Refinancing | 2 | $640,000 | $320,000 | $425,000 | $257,000 | $380,000 |
| Home Improvement | 1 | $75,000 | $75,000 | $75,000 | $147,000 | $147,000 |
| 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 |
|---|---|---|---|---|---|---|
| White | 195 | $51,945,000 | $266,000 | $725,000 | $120,000 | $604,000 |
| Black or African American | 32 | $7,710,000 | $240,000 | $725,000 | $103,000 | $482,000 |
| Hispanic | 17 | $4,895,000 | $287,000 | $685,000 | $120,000 | $281,000 |
| Not Provided | 17 | $4,785,000 | $281,000 | $505,000 | $182,000 | $1,104,000 |
| Asian | 12 | $3,700,000 | $308,000 | $725,000 | $152,000 | $465,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 197 | $54,435,000 | $276,000 | $725,000 | $139,000 | $1,104,000 |
| FHA-insured (Federal Housing Administration) | 75 | $18,425,000 | $245,000 | $495,000 | $83,000 | $259,000 |
| VA-guaranteed (Veterans Administration) | 1 | $175,000 | $175,000 | $175,000 | $100,000 | $100,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 174 | $47,630,000 | $273,000 | $725,000 | $123,000 | $604,000 |
| Application Withdrawn By Applicant | 83 | $22,265,000 | $268,000 | $685,000 | $128,000 | $1,104,000 |
| Application Denied By Financial Institution | 15 | $2,955,000 | $197,000 | $525,000 | $115,000 | $450,000 |
| Preapproval Denied by Financial Institution | 1 | $185,000 | $185,000 | $185,000 | $18,000 | $18,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 | 257 | $69,895,000 | $271,000 | $725,000 | $124,000 | $1,104,000 |
| Credit History | 5 | $705,000 | $141,000 | $175,000 | $51,000 | $87,000 |
| Debt-To-Income Ratio | 3 | $1,055,000 | $351,000 | $525,000 | $94,000 | $192,000 |
| Employment History | 2 | $310,000 | $155,000 | $245,000 | $96,000 | $130,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $390,000 | $195,000 | $195,000 | $72,000 | $89,000 |
| Other | 2 | $520,000 | $260,000 | $345,000 | $290,000 | $450,000 |
| Collateral | 2 | $160,000 | $80,000 | $95,000 | $142,000 | $169,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Essential Mortgage Partners, LLC'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 Essential Mortgage Partners, LLC'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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