Financial Freedom Mortgage, LLC Mortgage Lending & HMDA Data, 2022
In 2022, Financial Freedom Mortgage, LLC of Mount Laurel, NJ reported 2,166 mortgage applications totaling $606.3 million, down 24% from 2021. The average application was for $279,930, and applicants reported an average income of $77,861. 17% of its applications resulted in an originated loan and 0% were denied. Its largest markets were Baltimore-Columbia-Towson, MD (273), Newark, NJ-PA (210) and Washington-Arlington-Alexandria, DC-VA-MD-WV (205) (applications in parentheses).
| Mortgage Company & Address | Financial Freedom Mortgage, LLC 875 Route 73 North Suite F Mount Laurel, NJ 08054 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 |
| Total Number of Mortgage Applications | 2,166 |
| Total Mortgage Loan Application Amount | $606,330,000 |
| Average Mortgage Loan Application Amount | $279,930 |
| Highest Mortgage Loan Application Amount | $1,675,000 |
| Average Applicant Income | $77,861 |
| Highest Applicant Income | $1,989,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Financial Freedom Mortgage, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Baltimore-Columbia-Towson, MD | 273 | $ 72,395,000 | $ 265,183 | $ 75,000 |
| Newark, NJ-PA | 210 | $ 64,220,000 | $ 305,809 | $ 91,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 205 | $ 63,505,000 | $ 309,780 | $ 83,000 |
| New York-Newark, NY | 198 | $ 64,230,000 | $ 324,393 | $ 88,000 |
| Camden, NJ | 187 | $ 42,135,000 | $ 225,320 | $ 75,000 |
| New York-Jersey City-White Plains, NY-NJ | 104 | $ 36,990,000 | $ 355,673 | $ 90,000 |
| Tampa-St. Petersburg-Clearwater, FL | 79 | $ 21,745,000 | $ 275,253 | $ 70,000 |
| Wilmington, DE-MD-NJ | 71 | $ 15,065,000 | $ 212,183 | $ 61,408 |
| Washington-Baltimore-Arlington, DC | 66 | $ 26,220,000 | $ 397,272 | $ 102,000 |
| Orlando-Kissimmee-Sanford, FL | 64 | $ 18,400,000 | $ 287,500 | $ 66,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 63 | $ 17,745,000 | $ 281,666 | $ 64,000 |
| Miami-Miami Beach-Kendall, FL | 60 | $ 16,920,000 | $ 282,000 | $ 66,000 |
| Salisbury, MD-DE | 48 | $ 12,300,000 | $ 256,250 | $ 77,666 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 43 | $ 13,265,000 | $ 308,488 | $ 77,000 |
| Outside any metro area | 35 | $ 7,725,000 | $ 220,714 | $ 64,028 |
| Atlantic City-Hammonton, NJ | 32 | $ 8,980,000 | $ 280,625 | $ 127,000 |
| Lakeland-Winter Haven, FL | 32 | $ 6,740,000 | $ 210,625 | $ 63,000 |
| Trenton, NJ | 30 | $ 6,130,000 | $ 204,333 | $ 66,000 |
| Jacksonville, FL | 28 | $ 6,460,000 | $ 230,714 | $ 78,000 |
| Dover, DE | 27 | $ 7,035,000 | $ 260,555 | $ 63,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 25 | $ 5,475,000 | $ 219,000 | $ 51,000 |
| North Port-Sarasota-Bradenton, FL | 25 | $ 7,175,000 | $ 287,000 | $ 76,000 |
| Cape Coral-Fort Myers, FL | 24 | $ 5,790,000 | $ 241,250 | $ 58,000 |
| Palm Bay-Melbourne-Titusville, FL | 23 | $ 4,865,000 | $ 211,521 | $ 54,000 |
| Vineland-Bridgeton, NJ | 23 | $ 4,745,000 | $ 206,304 | $ 68,000 |
| Port St. Lucie, FL | 20 | $ 5,130,000 | $ 256,500 | $ 68,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 19 | $ 5,465,000 | $ 287,631 | $ 81,000 |
| Ocean City, NJ | 17 | $ 4,975,000 | $ 292,647 | $ 96,000 |
| Hagerstown-Martinsburg, MD-WV | 14 | $ 3,510,000 | $ 250,714 | $ 71,000 |
| Tallahassee, FL | 13 | $ 2,885,000 | $ 221,923 | $ 62,000 |
| Gainesville, FL | 10 | $ 1,670,000 | $ 167,000 | $ 53,000 |
| Ocala, FL | 10 | $ 2,210,000 | $ 221,000 | $ 56,000 |
| California-Lexington Park, MD | 9 | $ 2,805,000 | $ 311,666 | $ 116,000 |
| Pensacola-Ferry Pass-Brent, FL | 9 | $ 1,915,000 | $ 212,777 | $ 78,000 |
| Naples-Immokalee-Marco Island, FL | 8 | $ 2,560,000 | $ 320,000 | $ 83,000 |
| Crestview-Fort Walton Beach-Destin, FL | 7 | $ 1,715,000 | $ 245,000 | $ 57,000 |
| Punta Gorda, FL | 7 | $ 2,205,000 | $ 315,000 | $ 69,000 |
| Homosassa Springs, FL | 5 | $ 765,000 | $ 153,000 | $ 52,000 |
| Sebastian-Vero Beach, FL | 5 | $ 1,105,000 | $ 221,000 | $ 45,000 |
| Panama City, FL | 4 | $ 810,000 | $ 202,500 | $ 30,000 |
| Sebring, FL | 4 | $ 760,000 | $ 190,000 | $ 38,000 |
| The Villages, FL | 2 | $ 560,000 | $ 280,000 | $ 58,000 |
Mortgage Loan Application Detail Totals for Financial Freedom Mortgage, LLC in 2022
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 |
|---|---|---|---|---|---|---|
| Cash-out Refinancing | 1,984 | $555,130,000 | $279,000 | $1,675,000 | $76,000 | $965,000 |
| Refinancing | 158 | $44,980,000 | $284,000 | $1,215,000 | $100,000 | $1,989,000 |
| Home Purchase | 24 | $6,220,000 | $259,000 | $755,000 | $86,000 | $281,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 0 | $0 | $0 | $0 | $0 | $0 |
| Home Improvement | 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 | 971 | $268,775,000 | $276,000 | $1,675,000 | $81,000 | $1,989,000 |
| Black or African American | 661 | $180,425,000 | $272,000 | $975,000 | $77,000 | $301,000 |
| Hispanic | 277 | $79,325,000 | $286,000 | $705,000 | $77,000 | $965,000 |
| Not Provided | 199 | $59,315,000 | $298,000 | $1,225,000 | $74,000 | $277,000 |
| Asian | 21 | $6,825,000 | $325,000 | $565,000 | $74,000 | $144,000 |
| American Indian or Alaskan Native | 7 | $2,345,000 | $335,000 | $525,000 | $126,000 | $241,000 |
| Native Hawaiian or Other Pacific Islander | 4 | $1,620,000 | $405,000 | $665,000 | $73,000 | $120,000 |
| 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 1,061 | $287,455,000 | $270,000 | $985,000 | $79,000 | $504,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 1,009 | $288,985,000 | $286,000 | $1,675,000 | $78,000 | $1,989,000 |
| VA-guaranteed (Veterans Administration) | 96 | $29,890,000 | $311,000 | $605,000 | $67,000 | $178,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Withdrawn By Applicant | 1,806 | $510,840,000 | $282,000 | $1,675,000 | $78,000 | $1,989,000 |
| Loan Originated | 359 | $95,365,000 | $265,000 | $665,000 | $81,000 | $260,000 |
| File Closed For Incompleteness | 1 | $125,000 | $125,000 | $125,000 | $72,000 | $72,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Denied By Financial Institution | 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 |
|---|---|---|---|---|---|---|
| Not applicable | 2,166 | $606,330,000 | $279,000 | $1,675,000 | $78,000 | $1,989,000 |
| 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 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Financial Freedom Mortgage, LLC's 2022 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 Financial Freedom Mortgage, 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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