First Hope Bank A National Banking Association Mortgage Lending & HMDA Data, 2024
In 2024, First Hope Bank A National Banking Association of Hope, NJ reported 112 mortgage applications totaling $27.1 million, down 3% from 2023. The average application was for $242,142, and applicants reported an average income of $176,160. 65% of its applications resulted in an originated loan and 19% were denied. Its largest markets were Newark, NJ-PA (53), Allentown-Bethlehem-Easton, PA-NJ (43) and Lakewood-New Brunswick, NJ (4) (applications in parentheses).
| Mortgage Company & Address | First Hope Bank A National Banking Association 1301 Hope-Bridgeville Road Hope, NJ 07844 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 2003 |
| Total Number of Mortgage Applications | 112 |
| Total Mortgage Loan Application Amount | $27,120,000 |
| Average Mortgage Loan Application Amount | $242,142 |
| Highest Mortgage Loan Application Amount | $2,705,000 |
| Average Applicant Income | $176,160 |
| Highest Applicant Income | $651,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Hope Bank A National Banking Association filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Warren, New Jersey | 41 | $ 5,825,000 | $ 142,073 | $ 142,000 |
| Sussex, New Jersey | 35 | $ 9,465,000 | $ 270,428 | $ 194,000 |
| Morris, New Jersey | 12 | $ 3,380,000 | $ 281,666 | $ 217,000 |
| Monroe, Pennsylvania | 4 | $ 160,000 | $ 40,000 | $ 113,000 |
| Hunterdon, New Jersey | 3 | $ 605,000 | $ 201,666 | $ 88,000 |
| Essex, New Jersey | 2 | $ 360,000 | $ 180,000 | $ 287,000 |
| Gloucester, New Jersey | 2 | $ 280,000 | $ 140,000 | $ 240,000 |
| Ocean, New Jersey | 2 | $ 910,000 | $ 455,000 | $ 208,000 |
| Northampton, Pennsylvania | 2 | $ 1,260,000 | $ 630,000 | $ 45,000 |
| Cape May, New Jersey | 1 | $ 155,000 | $ 155,000 | $ 170,000 |
| Hudson, New Jersey | 1 | $ 555,000 | $ 555,000 | $ 399,000 |
| Mercer, New Jersey | 1 | $ 115,000 | $ 115,000 | $ 119,000 |
| Middlesex, New Jersey | 1 | $ 285,000 | $ 285,000 | $ 195,000 |
| Passaic, New Jersey | 1 | $ 405,000 | $ 405,000 | $ 242,000 |
| Somerset, New Jersey | 1 | $ 105,000 | $ 105,000 | $ 121,000 |
| Union, New Jersey | 1 | $ 755,000 | $ 755,000 | $ 314,000 |
| Suffolk, New York | 1 | $ 2,455,000 | $ 2,455,000 | $ 0 |
| Cambria, Pennsylvania | 1 | $ 45,000 | $ 45,000 | $ 62,000 |
Mortgage Loan Application Detail Totals for First Hope Bank A National Banking Association 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 Improvement | 39 | $3,515,000 | $90,000 | $495,000 | $150,000 | $446,000 |
| Home Purchase | 26 | $12,770,000 | $491,000 | $2,455,000 | $230,000 | $651,000 |
| Refinancing | 26 | $8,340,000 | $320,000 | $2,705,000 | $203,000 | $484,000 |
| Other Purpose | 18 | $1,570,000 | $87,000 | $265,000 | $121,000 | $225,000 |
| Cash-out Refinancing | 3 | $925,000 | $308,000 | $535,000 | $148,000 | $237,000 |
| 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 | 82 | $15,840,000 | $193,000 | $775,000 | $177,000 | $651,000 |
| Not Provided | 10 | $2,050,000 | $205,000 | $555,000 | $151,000 | $399,000 |
| Not applicable | 9 | $7,875,000 | $875,000 | $2,705,000 | $0 | $0 |
| Hispanic | 8 | $950,000 | $118,000 | $205,000 | $174,000 | $353,000 |
| Asian | 2 | $330,000 | $165,000 | $285,000 | $179,000 | $195,000 |
| American Indian or Alaskan Native | 1 | $75,000 | $75,000 | $75,000 | $96,000 | $96,000 |
| Black or African American | 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) | 112 | $27,120,000 | $242,000 | $2,705,000 | $173,000 | $651,000 |
| 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 | 73 | $20,055,000 | $274,000 | $2,705,000 | $191,000 | $649,000 |
| Application Denied By Financial Institution | 21 | $4,105,000 | $195,000 | $1,205,000 | $122,000 | $446,000 |
| Application Withdrawn By Applicant | 16 | $2,200,000 | $137,000 | $475,000 | $155,000 | $651,000 |
| File Closed For Incompleteness | 1 | $535,000 | $535,000 | $535,000 | $237,000 | $237,000 |
| Application Approved But Not Accepted | 1 | $225,000 | $225,000 | $225,000 | $109,000 | $109,000 |
| 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 |
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 | 91 | $23,015,000 | $252,000 | $2,705,000 | $184,000 | $651,000 |
| Debt-To-Income Ratio | 13 | $3,295,000 | $253,000 | $1,205,000 | $67,000 | $156,000 |
| Collateral | 4 | $570,000 | $142,000 | $255,000 | $282,000 | $446,000 |
| Credit History | 2 | $80,000 | $40,000 | $65,000 | $124,000 | $133,000 |
| Credit Application Incomplete | 1 | $105,000 | $105,000 | $105,000 | $47,000 | $47,000 |
| Other | 1 | $55,000 | $55,000 | $55,000 | $45,000 | $45,000 |
| Unverifiable Information | 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 First Hope Bank A National Banking Association'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 Hope Bank A National Banking Association'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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