First Choice Mortgage, Inc. Mortgage Lending & HMDA Data, 2007
In 2007, First Choice Mortgage, Inc. of Augusta, GA reported 146 mortgage applications totaling $16.0 million, down 12% from 2006. The average application was for $109,500, and applicants reported an average income of $47,000. 1% of its applications resulted in an originated loan and 28% were denied. Its largest markets were Augusta-Richmond County, GA-SC (121), Columbia, SC (6) and Atlanta-Sandy Springs-Marietta, GA (2) (applications in parentheses).
| Mortgage Company & Address | First Choice Mortgage, Inc. 217 Davis Rd Augusta, GA 30907 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 146 |
| Total Mortgage Loan Application Amount | $15,987,000 |
| Average Mortgage Loan Application Amount | $109,500 |
| Highest Mortgage Loan Application Amount | $325,000 |
| Average Applicant Income | $47,000 |
| Highest Applicant Income | $204,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Choice Mortgage, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for First Choice Mortgage, Inc. in 2007
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 | 146 | $15,987,000 | $109,000 | $325,000 | $47,000 | $204,000 |
| Refinancing | 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 | 73 | $8,521,000 | $116,000 | $325,000 | $47,000 | $204,000 |
| Black or African American | 65 | $6,768,000 | $104,000 | $280,000 | $50,000 | $95,000 |
| Hispanic | 8 | $698,000 | $87,000 | $149,000 | $31,000 | $47,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 82 | $8,473,000 | $103,000 | $203,000 | $41,000 | $115,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 58 | $6,799,000 | $117,000 | $325,000 | $57,000 | $204,000 |
| VA-guaranteed (Veterans Administration) | 6 | $715,000 | $119,000 | $165,000 | $40,000 | $67,000 |
| 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 | 98 | $11,154,000 | $113,000 | $325,000 | $47,000 | $204,000 |
| Application Denied By Financial Institution | 41 | $4,161,000 | $101,000 | $280,000 | $47,000 | $115,000 |
| File Closed For Incompleteness | 6 | $576,000 | $96,000 | $179,000 | $45,000 | $114,000 |
| Loan Originated | 1 | $96,000 | $96,000 | $96,000 | $32,000 | $32,000 |
| 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 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Credit History | 23 | $2,496,000 | $108,000 | $280,000 | $47,000 | $115,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $459,000 | $114,000 | $133,000 | $64,000 | $91,000 |
| Other | 4 | $248,000 | $62,000 | $89,000 | $60,000 | $95,000 |
| Debt-To-Income Ratio | 2 | $245,000 | $122,000 | $148,000 | $16,000 | $18,000 |
| Collateral | 1 | $112,000 | $112,000 | $112,000 | $45,000 | $45,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 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 First Choice Mortgage, Inc.'s 2007 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 Mortgage, Inc.'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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