First Credit Corporation of Ny, Inc. Mortgage Lending & HMDA Data, 2024
In 2024, First Credit Corporation of Ny, Inc. of Gloversville, NY reported 1,717 mortgage applications totaling $170.9 million, down 10% from 2023. The average application was for $99,513, and applicants reported an average income of $63,004. 0% of its applications resulted in an originated loan and 78% were denied. Its largest markets were Lakewood-New Brunswick, NJ (221), Kiryas Joel-Poughkeepsie-Newburgh, NY (114) and Montgomery County-Bucks County-Chester County, PA (101) (applications in parentheses).
| Mortgage Company & Address | First Credit Corporation of Ny, Inc. 21 North Main Street Gloversville, NY 12078 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 | 1,717 |
| Total Mortgage Loan Application Amount | $170,865,000 |
| Average Mortgage Loan Application Amount | $99,513 |
| Highest Mortgage Loan Application Amount | $385,000 |
| Average Applicant Income | $63,004 |
| Highest Applicant Income | $810,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Credit Corporation of Ny, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Credit Corporation of Ny, Inc. in 2024
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 | 1,699 | $169,635,000 | $99,000 | $385,000 | $63,000 | $810,000 |
| Cash-out Refinancing | 7 | $485,000 | $69,000 | $115,000 | $74,000 | $147,000 |
| Refinancing | 7 | $445,000 | $63,000 | $145,000 | $60,000 | $103,000 |
| Other Purpose | 3 | $225,000 | $75,000 | $95,000 | $53,000 | $67,000 |
| Home Improvement | 1 | $75,000 | $75,000 | $75,000 | $44,000 | $44,000 |
| 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 |
|---|---|---|---|---|---|---|
| White | 1,047 | $101,085,000 | $96,000 | $385,000 | $63,000 | $810,000 |
| Hispanic | 311 | $33,565,000 | $107,000 | $295,000 | $63,000 | $288,000 |
| Not Provided | 242 | $25,140,000 | $103,000 | $325,000 | $63,000 | $286,000 |
| Black or African American | 91 | $8,915,000 | $97,000 | $255,000 | $55,000 | $130,000 |
| American Indian or Alaskan Native | 14 | $1,010,000 | $72,000 | $125,000 | $55,000 | $108,000 |
| Asian | 10 | $950,000 | $95,000 | $245,000 | $75,000 | $187,000 |
| Not applicable | 2 | $200,000 | $100,000 | $155,000 | $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) | 1,717 | $170,865,000 | $99,000 | $385,000 | $63,000 | $810,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 1,332 | $132,580,000 | $99,000 | $365,000 | $57,000 | $810,000 |
| Application Approved But Not Accepted | 278 | $26,820,000 | $96,000 | $285,000 | $83,000 | $480,000 |
| Application Withdrawn By Applicant | 95 | $10,255,000 | $107,000 | $385,000 | $81,000 | $322,000 |
| File Closed For Incompleteness | 12 | $1,210,000 | $100,000 | $255,000 | $54,000 | $137,000 |
| Loan Originated | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 883 | $91,635,000 | $103,000 | $365,000 | $52,000 | $235,000 |
| Not applicable | 385 | $38,285,000 | $99,000 | $385,000 | $81,000 | $480,000 |
| Credit History | 252 | $22,820,000 | $90,000 | $335,000 | $71,000 | $810,000 |
| Other | 53 | $4,455,000 | $84,000 | $315,000 | $73,000 | $255,000 |
| Employment History | 52 | $4,390,000 | $84,000 | $275,000 | $49,000 | $180,000 |
| Collateral | 26 | $2,000,000 | $76,000 | $185,000 | $76,000 | $187,000 |
| Credit Application Incomplete | 22 | $2,240,000 | $101,000 | $255,000 | $83,000 | $288,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 22 | $2,610,000 | $118,000 | $325,000 | $63,000 | $108,000 |
| Unverifiable Information | 20 | $2,200,000 | $110,000 | $225,000 | $60,000 | $198,000 |
| Mortgage Insurance Denied | 2 | $230,000 | $115,000 | $145,000 | $68,000 | $76,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Credit Corporation of Ny, Inc.'s 2024 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 Credit Corporation of Ny, 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.
For a list of all lenders in New York, download the full spreadsheet
with aggregated HMDA statistics today.
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