First Rate Mortgage Mortgage Lending & HMDA Data, 2010
In 2010, First Rate Mortgage of Louisville, KY reported 269 mortgage applications totaling $38.1 million, up 74% from 2009. The average application was for $141,620, and applicants reported an average income of $57,301. 48% of its applications resulted in an originated loan and 24% were denied. Its largest markets were Louisville-Jefferson County, KY-IN (120), Bowling Green, KY (18) and Cincinnati-Middletown, OH-KY-IN (16) (applications in parentheses).
| Mortgage Company & Address | First Rate Mortgage 10400 Linn Station Rd Louisville, KY 40223 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 |
| Total Number of Mortgage Applications | 269 |
| Total Mortgage Loan Application Amount | $38,096,000 |
| Average Mortgage Loan Application Amount | $141,620 |
| Highest Mortgage Loan Application Amount | $362,000 |
| Average Applicant Income | $57,301 |
| Highest Applicant Income | $235,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Rate Mortgage filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Jefferson, Kentucky | 64 | $ 10,325,000 | $ 161,328 | $ 69,000 |
| Warren, Kentucky | 17 | $ 2,231,000 | $ 131,235 | $ 51,000 |
| Bullitt, Kentucky | 12 | $ 1,543,000 | $ 128,583 | $ 46,000 |
| Oldham, Kentucky | 12 | $ 2,387,000 | $ 198,916 | $ 67,000 |
| Allen, Kentucky | 10 | $ 967,000 | $ 96,700 | $ 35,000 |
| Fayette, Kentucky | 10 | $ 1,348,000 | $ 134,800 | $ 53,000 |
| Shelby, Kentucky | 10 | $ 1,181,000 | $ 118,100 | $ 43,000 |
| Kenton, Kentucky | 9 | $ 1,439,000 | $ 159,888 | $ 72,000 |
| Hardin, Kentucky | 8 | $ 1,152,000 | $ 144,000 | $ 51,000 |
| Floyd, Indiana | 5 | $ 504,000 | $ 100,800 | $ 29,000 |
| Franklin, Kentucky | 5 | $ 703,000 | $ 140,600 | $ 72,000 |
| Grayson, Kentucky | 4 | $ 369,000 | $ 92,250 | $ 43,000 |
| Logan, Kentucky | 4 | $ 337,000 | $ 84,250 | $ 21,000 |
| Nelson, Kentucky | 4 | $ 717,000 | $ 179,250 | $ 71,000 |
| Clark, Indiana | 3 | $ 390,000 | $ 130,000 | $ 56,000 |
| Campbell, Kentucky | 3 | $ 631,000 | $ 210,333 | $ 80,000 |
| Greenup, Kentucky | 3 | $ 411,000 | $ 137,000 | $ 75,000 |
| Henry, Kentucky | 3 | $ 486,000 | $ 162,000 | $ 58,000 |
| Pulaski, Kentucky | 3 | $ 539,000 | $ 179,666 | $ 121,000 |
| Spencer, Kentucky | 3 | $ 418,000 | $ 139,333 | $ 64,000 |
| Orange, Indiana | 2 | $ 274,000 | $ 137,000 | $ 53,000 |
| Barren, Kentucky | 2 | $ 168,000 | $ 84,000 | $ 43,000 |
| Boone, Kentucky | 2 | $ 251,000 | $ 125,500 | $ 50,000 |
| Breckinridge, Kentucky | 2 | $ 205,000 | $ 102,500 | $ 29,000 |
| Carroll, Kentucky | 2 | $ 198,000 | $ 99,000 | $ 36,000 |
| Carter, Kentucky | 2 | $ 228,000 | $ 114,000 | $ 48,000 |
| Daviess, Kentucky | 2 | $ 237,000 | $ 118,500 | $ 85,000 |
| Gallatin, Kentucky | 2 | $ 315,000 | $ 157,500 | $ 61,000 |
| Hopkins, Kentucky | 2 | $ 264,000 | $ 132,000 | $ 39,000 |
| McCracken, Kentucky | 2 | $ 266,000 | $ 133,000 | $ 46,000 |
| Perry, Kentucky | 2 | $ 256,000 | $ 128,000 | $ 54,000 |
| Simpson, Kentucky | 2 | $ 354,000 | $ 177,000 | $ 84,000 |
| Woodford, Kentucky | 2 | $ 422,000 | $ 211,000 | $ 70,000 |
| Harrison, Indiana | 1 | $ 73,000 | $ 73,000 | $ 36,000 |
| Scott, Indiana | 1 | $ 198,000 | $ 198,000 | $ 53,000 |
| Washington, Indiana | 1 | $ 51,000 | $ 51,000 | $ 14,000 |
| Anderson, Kentucky | 1 | $ 111,000 | $ 111,000 | $ 43,000 |
| Bath, Kentucky | 1 | $ 111,000 | $ 111,000 | $ 79,000 |
| Bell, Kentucky | 1 | $ 91,000 | $ 91,000 | $ 35,000 |
| Bourbon, Kentucky | 1 | $ 131,000 | $ 131,000 | $ 45,000 |
| Boyd, Kentucky | 1 | $ 150,000 | $ 150,000 | $ 106,000 |
| Clark, Kentucky | 1 | $ 204,000 | $ 204,000 | $ 83,000 |
| Edmonson, Kentucky | 1 | $ 60,000 | $ 60,000 | $ 43,000 |
| Floyd, Kentucky | 1 | $ 150,000 | $ 150,000 | $ 25,000 |
| Garrard, Kentucky | 1 | $ 137,000 | $ 137,000 | $ 59,000 |
| Hancock, Kentucky | 1 | $ 106,000 | $ 106,000 | $ 18,000 |
| Hart, Kentucky | 1 | $ 55,000 | $ 55,000 | $ 35,000 |
| Henderson, Kentucky | 1 | $ 129,000 | $ 129,000 | $ 108,000 |
| Jessamine, Kentucky | 1 | $ 126,000 | $ 126,000 | $ 18,000 |
| Laurel, Kentucky | 1 | $ 56,000 | $ 56,000 | $ 29,000 |
| Leslie, Kentucky | 1 | $ 96,000 | $ 96,000 | $ 44,000 |
| Lincoln, Kentucky | 1 | $ 116,000 | $ 116,000 | $ 25,000 |
| Madison, Kentucky | 1 | $ 156,000 | $ 156,000 | $ 61,000 |
| Magoffin, Kentucky | 1 | $ 101,000 | $ 101,000 | $ 49,000 |
| Marion, Kentucky | 1 | $ 125,000 | $ 125,000 | $ 40,000 |
| McLean, Kentucky | 1 | $ 149,000 | $ 149,000 | $ 47,000 |
| Meade, Kentucky | 1 | $ 174,000 | $ 174,000 | $ 60,000 |
| Monroe, Kentucky | 1 | $ 158,000 | $ 158,000 | $ 90,000 |
| Morgan, Kentucky | 1 | $ 136,000 | $ 136,000 | $ 70,000 |
| Powell, Kentucky | 1 | $ 82,000 | $ 82,000 | $ 59,000 |
| Russell, Kentucky | 1 | $ 185,000 | $ 185,000 | $ 37,000 |
| Trimble, Kentucky | 1 | $ 87,000 | $ 87,000 | $ 44,000 |
| Washington, Kentucky | 1 | $ 143,000 | $ 143,000 | $ 53,000 |
| Wayne, Kentucky | 1 | $ 124,000 | $ 124,000 | $ 71,000 |
| Whitley, Kentucky | 1 | $ 136,000 | $ 136,000 | $ 50,000 |
| Shelby, Tennessee | 1 | $ 183,000 | $ 183,000 | $ 63,000 |
| Williamson, Tennessee | 1 | $ 261,000 | $ 261,000 | $ 96,000 |
Mortgage Loan Application Detail Totals for First Rate Mortgage in 2010
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 |
|---|---|---|---|---|---|---|
| Refinancing | 202 | $30,647,000 | $151,000 | $362,000 | $62,000 | $235,000 |
| Home Purchase | 66 | $7,262,000 | $110,000 | $244,000 | $43,000 | $100,000 |
| Home Improvement | 1 | $187,000 | $187,000 | $187,000 | $52,000 | $52,000 |
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 | 235 | $33,039,000 | $140,000 | $362,000 | $57,000 | $235,000 |
| Black or African American | 19 | $2,985,000 | $157,000 | $343,000 | $57,000 | $192,000 |
| Hispanic | 5 | $680,000 | $136,000 | $261,000 | $58,000 | $96,000 |
| Not Provided | 4 | $551,000 | $137,000 | $150,000 | $41,000 | $58,000 |
| Asian | 4 | $591,000 | $147,000 | $190,000 | $82,000 | $104,000 |
| American Indian or Alaskan Native | 2 | $250,000 | $125,000 | $125,000 | $57,000 | $57,000 |
| 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 269 | $38,096,000 | $141,000 | $362,000 | $57,000 | $235,000 |
| 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 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 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 | 129 | $17,427,000 | $135,000 | $288,000 | $58,000 | $235,000 |
| Application Withdrawn By Applicant | 69 | $10,227,000 | $148,000 | $362,000 | $60,000 | $192,000 |
| Application Denied By Financial Institution | 65 | $9,654,000 | $148,000 | $347,000 | $53,000 | $205,000 |
| File Closed For Incompleteness | 6 | $788,000 | $131,000 | $152,000 | $53,000 | $82,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 43 | $5,783,000 | $134,000 | $347,000 | $50,000 | $205,000 |
| Debt-To-Income Ratio | 8 | $1,396,000 | $174,000 | $343,000 | $47,000 | $82,000 |
| Collateral | 5 | $932,000 | $186,000 | $293,000 | $80,000 | $150,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $744,000 | $186,000 | $273,000 | $70,000 | $122,000 |
| Employment History | 3 | $442,000 | $147,000 | $188,000 | $38,000 | $49,000 |
| Other | 1 | $141,000 | $141,000 | $141,000 | $37,000 | $37,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Rate Mortgage's 2010 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 Rate Mortgage'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 Kentucky, download the full spreadsheet
with aggregated HMDA statistics today.
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