First Choice Credit Union Mortgage Lending & HMDA Data, 2022
In 2022, First Choice Credit Union of West Palm Beach, FL reported 116 mortgage applications totaling $12.4 million. The average application was for $107,068, and applicants reported an average income of $119,413. 54% of its applications resulted in an originated loan and 46% were denied. Its largest markets were West Palm Beach-Boca Raton-Delray Beach, FL (57), Port St. Lucie, FL (4) and Fort Lauderdale-Pompano Beach-Deerfield Beach, FL (2) (applications in parentheses).
| Mortgage Company & Address | First Choice Credit Union 1055 S Congress Avenue West Palm Beach, FL 33406 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 |
| Total Number of Mortgage Applications | 116 |
| Total Mortgage Loan Application Amount | $12,420,000 |
| Average Mortgage Loan Application Amount | $107,068 |
| Highest Mortgage Loan Application Amount | $575,000 |
| Average Applicant Income | $119,413 |
| Highest Applicant Income | $1,565,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Choice Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Palm Beach, Florida | 57 | $ 5,225,000 | $ 91,666 | $ 141,000 |
| St. Lucie, Florida | 3 | $ 535,000 | $ 178,333 | $ 90,000 |
| Broward, Florida | 2 | $ 230,000 | $ 115,000 | $ 161,000 |
| Martin, Florida | 1 | $ 85,000 | $ 85,000 | $ 0 |
Mortgage Loan Application Detail Totals for First Choice Credit Union 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 |
|---|---|---|---|---|---|---|
| Home Improvement | 43 | $3,685,000 | $85,000 | $255,000 | $114,000 | $365,000 |
| Other Purpose | 38 | $3,220,000 | $84,000 | $575,000 | $160,000 | $1,565,000 |
| Refinancing | 24 | $3,900,000 | $162,000 | $385,000 | $79,000 | $211,000 |
| Cash-out Refinancing | 10 | $1,570,000 | $157,000 | $285,000 | $86,000 | $186,000 |
| Home Purchase | 1 | $45,000 | $45,000 | $45,000 | $114,000 | $114,000 |
| Not Applicable | 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 |
|---|---|---|---|---|---|---|
| Hispanic | 34 | $3,860,000 | $113,000 | $355,000 | $107,000 | $720,000 |
| Black or African American | 33 | $3,645,000 | $110,000 | $255,000 | $112,000 | $463,000 |
| White | 32 | $2,400,000 | $75,000 | $275,000 | $143,000 | $1,565,000 |
| Not Provided | 10 | $1,270,000 | $127,000 | $575,000 | $100,000 | $220,000 |
| Asian | 4 | $850,000 | $212,000 | $385,000 | $106,000 | $137,000 |
| Not applicable | 2 | $190,000 | $95,000 | $105,000 | $365,000 | $365,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 116 | $12,420,000 | $107,000 | $575,000 | $120,000 | $1,565,000 |
| 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 | 63 | $6,075,000 | $96,000 | $385,000 | $139,000 | $1,565,000 |
| Application Denied By Financial Institution | 53 | $6,345,000 | $119,000 | $575,000 | $98,000 | $720,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 | 63 | $6,075,000 | $96,000 | $385,000 | $139,000 | $1,565,000 |
| Debt-To-Income Ratio | 24 | $3,130,000 | $130,000 | $355,000 | $83,000 | $192,000 |
| Credit History | 18 | $1,500,000 | $83,000 | $195,000 | $120,000 | $720,000 |
| Other | 8 | $1,360,000 | $170,000 | $575,000 | $96,000 | $367,000 |
| Collateral | 1 | $45,000 | $45,000 | $45,000 | $114,000 | $114,000 |
| Credit Application Incomplete | 1 | $215,000 | $215,000 | $215,000 | $56,000 | $56,000 |
| Employment History | 1 | $95,000 | $95,000 | $95,000 | $96,000 | $96,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Choice Credit Union'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 First Choice 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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