Aspire Federal Credit Union Mortgage Lending & HMDA Data, 2018
In 2018, Aspire Federal Credit Union of Clark, NJ reported 58 mortgage applications totaling $4.5 million, up 5700% from 2017. The average application was for $77,758, and applicants reported an average income of $108,482. 40% of its applications resulted in an originated loan and 33% were denied. Its largest markets were New York-Jersey City-White Plains, NY-NJ (18), Newark, NJ-PA (11) and Nassau County-Suffolk County, NY (4) (applications in parentheses).
| Mortgage Company & Address | Aspire Federal Credit Union 67 Walnut Avenue, Suite 401 Clark, NJ 07066 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 58 |
| Total Mortgage Loan Application Amount | $4,510,000 |
| Average Mortgage Loan Application Amount | $77,758 |
| Highest Mortgage Loan Application Amount | $255,000 |
| Average Applicant Income | $108,482 |
| Highest Applicant Income | $324,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Aspire Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Middlesex, New Jersey | 4 | $ 260,000 | $ 65,000 | $ 87,000 |
| Union, New Jersey | 4 | $ 260,000 | $ 65,000 | $ 85,000 |
| Queens, New York | 4 | $ 760,000 | $ 190,000 | $ 107,000 |
| Suffolk, New York | 4 | $ 250,000 | $ 62,500 | $ 180,000 |
| Essex, New Jersey | 2 | $ 80,000 | $ 40,000 | $ 92,000 |
| Hudson, New Jersey | 2 | $ 280,000 | $ 140,000 | $ 64,000 |
| Morris, New Jersey | 2 | $ 170,000 | $ 85,000 | $ 107,000 |
| Ocean, New Jersey | 2 | $ 60,000 | $ 30,000 | $ 92,000 |
| Kings, New York | 2 | $ 190,000 | $ 95,000 | $ 71,000 |
| Riverside, California | 1 | $ 65,000 | $ 65,000 | $ 135,000 |
| Indian River, Florida | 1 | $ 45,000 | $ 45,000 | $ 44,000 |
| Volusia, Florida | 1 | $ 15,000 | $ 15,000 | $ 120,000 |
| Glynn, Georgia | 1 | $ 35,000 | $ 35,000 | $ 108,000 |
| Walton, Georgia | 1 | $ 45,000 | $ 45,000 | $ 134,000 |
| Porter, Indiana | 1 | $ 25,000 | $ 25,000 | $ 100,000 |
| Prince George's, Maryland | 1 | $ 35,000 | $ 35,000 | $ 102,000 |
| Hillsborough, New Hampshire | 1 | $ 175,000 | $ 175,000 | $ 116,000 |
| Rockingham, New Hampshire | 1 | $ 125,000 | $ 125,000 | $ 142,000 |
| Burlington, New Jersey | 1 | $ 45,000 | $ 45,000 | $ 113,000 |
| Monmouth, New Jersey | 1 | $ 45,000 | $ 45,000 | $ 160,000 |
| Somerset, New Jersey | 1 | $ 125,000 | $ 125,000 | $ 117,000 |
| Sussex, New Jersey | 1 | $ 45,000 | $ 45,000 | $ 80,000 |
| Bronx, New York | 1 | $ 105,000 | $ 105,000 | $ 40,000 |
| Dutchess, New York | 1 | $ 145,000 | $ 145,000 | $ 13,000 |
| New York, New York | 1 | $ 105,000 | $ 105,000 | $ 166,000 |
| Rockland, New York | 1 | $ 65,000 | $ 65,000 | $ 138,000 |
| Mecklenburg, North Carolina | 1 | $ 25,000 | $ 25,000 | $ 54,000 |
| Mahoning, Ohio | 1 | $ 25,000 | $ 25,000 | $ 38,000 |
| Multnomah, Oregon | 1 | $ 55,000 | $ 55,000 | $ 272,000 |
| Allegheny, Pennsylvania | 1 | $ 25,000 | $ 25,000 | $ 90,000 |
| Northampton, Pennsylvania | 1 | $ 105,000 | $ 105,000 | $ 243,000 |
| Pike, Pennsylvania | 1 | $ 35,000 | $ 35,000 | $ 96,000 |
| Lexington, South Carolina | 1 | $ 15,000 | $ 15,000 | $ 28,000 |
| Brazoria, Texas | 1 | $ 65,000 | $ 65,000 | $ 324,000 |
| Rockwall, Texas | 1 | $ 75,000 | $ 75,000 | $ 61,000 |
| Fauquier, Virginia | 1 | $ 65,000 | $ 65,000 | $ 98,000 |
| Prince William, Virginia | 1 | $ 45,000 | $ 45,000 | $ 233,000 |
Mortgage Loan Application Detail Totals for Aspire Federal Credit Union in 2018
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 Improvement | 56 | $4,210,000 | $75,000 | $255,000 | $109,000 | $324,000 |
| Home Purchase | 2 | $300,000 | $150,000 | $255,000 | $94,000 | $160,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 0 | $0 | $0 | $0 | $0 | $0 |
| Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
| Cash-out 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 |
|---|---|---|---|---|---|---|
| Not Provided | 23 | $1,785,000 | $77,000 | $255,000 | $112,000 | $324,000 |
| White | 22 | $1,600,000 | $72,000 | $175,000 | $116,000 | $272,000 |
| Black or African American | 7 | $775,000 | $110,000 | $255,000 | $66,000 | $160,000 |
| Hispanic | 5 | $325,000 | $65,000 | $125,000 | $117,000 | $216,000 |
| Asian | 1 | $25,000 | $25,000 | $25,000 | $100,000 | $100,000 |
| 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) | 58 | $4,510,000 | $77,000 | $255,000 | $108,000 | $324,000 |
| 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 | 23 | $2,045,000 | $88,000 | $255,000 | $121,000 | $260,000 |
| Application Denied By Financial Institution | 19 | $1,755,000 | $92,000 | $255,000 | $96,000 | $324,000 |
| Application Approved But Not Accepted | 11 | $505,000 | $45,000 | $85,000 | $118,000 | $272,000 |
| File Closed For Incompleteness | 4 | $170,000 | $42,000 | $65,000 | $82,000 | $96,000 |
| Application Withdrawn By Applicant | 1 | $35,000 | $35,000 | $35,000 | $53,000 | $53,000 |
| 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 | 39 | $2,755,000 | $70,000 | $255,000 | $114,000 | $272,000 |
| Collateral | 7 | $585,000 | $83,000 | $255,000 | $122,000 | $324,000 |
| Debt-To-Income Ratio | 6 | $600,000 | $100,000 | $205,000 | $78,000 | $138,000 |
| Credit History | 3 | $275,000 | $91,000 | $135,000 | $82,000 | $108,000 |
| Other | 2 | $40,000 | $20,000 | $25,000 | $110,000 | $120,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $255,000 | $255,000 | $255,000 | $29,000 | $29,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Aspire Federal Credit Union's 2018 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 Aspire Federal Credit Union'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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with aggregated HMDA statistics today.
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