Financial Plus Credit Union Mortgage Lending & HMDA Data, 2021
In 2021, Financial Plus Credit Union of Ottawa, IL reported 335 mortgage applications totaling $38.5 million, up 37% from 2020. The average application was for $114,880, and applicants reported an average income of $80,570. 55% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Chicago-Naperville, IL (28), Elgin, IL (1) and Peoria, IL (1) (applications in parentheses).
| Mortgage Company & Address | Financial Plus Credit Union 800 Chestnut St Ottawa, IL 61350 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 | 335 |
| Total Mortgage Loan Application Amount | $38,485,000 |
| Average Mortgage Loan Application Amount | $114,880 |
| Highest Mortgage Loan Application Amount | $605,000 |
| Average Applicant Income | $80,570 |
| Highest Applicant Income | $320,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Financial Plus Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Outside any metro area | 187 | $ 20,355,000 | $ 108,850 | $ 86,000 |
| Chicago-Naperville, IL | 28 | $ 4,170,000 | $ 148,928 | $ 91,000 |
| Elgin, IL | 1 | $ 105,000 | $ 105,000 | $ 64,000 |
| Peoria, IL | 1 | $ 75,000 | $ 75,000 | $ 91,000 |
Mortgage Loan Application Detail Totals for Financial Plus Credit Union 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 | 196 | $22,540,000 | $115,000 | $605,000 | $73,000 | $222,000 |
| Refinancing | 86 | $8,980,000 | $104,000 | $285,000 | $84,000 | $221,000 |
| Cash-out Refinancing | 53 | $6,965,000 | $131,000 | $275,000 | $103,000 | $320,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 272 | $32,390,000 | $119,000 | $605,000 | $85,000 | $320,000 |
| Hispanic | 54 | $5,030,000 | $93,000 | $275,000 | $60,000 | $145,000 |
| Black or African American | 4 | $460,000 | $115,000 | $165,000 | $58,000 | $80,000 |
| Not Provided | 2 | $270,000 | $135,000 | $165,000 | $105,000 | $147,000 |
| Asian | 2 | $210,000 | $105,000 | $115,000 | $76,000 | $107,000 |
| American Indian or Alaskan Native | 1 | $125,000 | $125,000 | $125,000 | $70,000 | $70,000 |
| 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) | 335 | $38,485,000 | $114,000 | $605,000 | $81,000 | $320,000 |
| 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 | 183 | $21,395,000 | $116,000 | $285,000 | $89,000 | $320,000 |
| Preapproval Approved but not Accepted | 62 | $8,160,000 | $131,000 | $605,000 | $78,000 | $222,000 |
| Preapproval Denied by Financial Institution | 56 | $5,620,000 | $100,000 | $285,000 | $59,000 | $200,000 |
| Application Approved But Not Accepted | 16 | $1,180,000 | $73,000 | $165,000 | $76,000 | $135,000 |
| Application Denied By Financial Institution | 16 | $1,760,000 | $110,000 | $255,000 | $81,000 | $170,000 |
| Application Withdrawn By Applicant | 2 | $370,000 | $185,000 | $285,000 | $36,000 | $37,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The 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 | 263 | $31,105,000 | $118,000 | $605,000 | $85,000 | $320,000 |
| Credit History | 33 | $3,085,000 | $93,000 | $205,000 | $72,000 | $200,000 |
| Debt-To-Income Ratio | 25 | $3,055,000 | $122,000 | $285,000 | $57,000 | $170,000 |
| Employment History | 7 | $705,000 | $100,000 | $185,000 | $47,000 | $98,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $235,000 | $78,000 | $115,000 | $40,000 | $51,000 |
| Collateral | 2 | $160,000 | $80,000 | $115,000 | $91,000 | $123,000 |
| Unverifiable Information | 2 | $140,000 | $70,000 | $85,000 | $86,000 | $101,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 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 Plus Credit Union'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 Financial Plus 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.
For a list of all lenders in Illinois, download the full spreadsheet
with aggregated HMDA statistics today.
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