Firstbank - West Michigan Mortgage Lending & HMDA Data, 2012
In 2012, Firstbank - West Michigan of Ionia, MI reported 146 mortgage applications totaling $14.3 million, up 32% from 2011. The average application was for $97,678, and applicants reported an average income of $62,404. 62% of its applications resulted in an originated loan and 21% were denied. Its largest markets were Grand Rapids-Wyoming, MI (127) and Lansing-East Lansing, MI (3).
| Mortgage Company & Address | Firstbank - West Michigan 302 W Main St Ionia, MI 48846 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2012 2011 2010 2009 2008 2007 |
| Total Number of Mortgage Applications | 146 |
| Total Mortgage Loan Application Amount | $14,261,000 |
| Average Mortgage Loan Application Amount | $97,678 |
| Highest Mortgage Loan Application Amount | $698,000 |
| Average Applicant Income | $62,404 |
| Highest Applicant Income | $240,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Firstbank - West Michigan filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Ionia, Michigan | 82 | $ 6,481,000 | $ 79,036 | $ 46,000 |
| Barry, Michigan | 33 | $ 4,382,000 | $ 132,787 | $ 61,000 |
| Kent, Michigan | 12 | $ 1,271,000 | $ 105,916 | $ 114,000 |
| Montcalm, Michigan | 10 | $ 648,000 | $ 64,800 | $ 74,000 |
| Eaton, Michigan | 2 | $ 126,000 | $ 63,000 | $ 94,000 |
| Allegan, Michigan | 1 | $ 698,000 | $ 698,000 | $ 62,000 |
| Clinton, Michigan | 1 | $ 36,000 | $ 36,000 | $ 172,000 |
| Grand Traverse, Michigan | 1 | $ 240,000 | $ 240,000 | $ 228,000 |
| Gratiot, Michigan | 1 | $ 53,000 | $ 53,000 | $ 22,000 |
| Lake, Michigan | 1 | $ 20,000 | $ 20,000 | $ 101,000 |
| Missaukee, Michigan | 1 | $ 174,000 | $ 174,000 | $ 163,000 |
| Schoolcraft, Michigan | 1 | $ 132,000 | $ 132,000 | $ 187,000 |
Mortgage Loan Application Detail Totals for Firstbank - West Michigan in 2012
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 | 111 | $12,275,000 | $110,000 | $698,000 | $67,000 | $240,000 |
| Home Purchase | 27 | $1,604,000 | $59,000 | $188,000 | $46,000 | $172,000 |
| Home Improvement | 8 | $382,000 | $47,000 | $110,000 | $54,000 | $120,000 |
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 | 130 | $12,841,000 | $98,000 | $698,000 | $68,000 | $240,000 |
| Not applicable | 13 | $1,200,000 | $92,000 | $203,000 | $0 | $0 |
| American Indian or Alaskan Native | 1 | $50,000 | $50,000 | $50,000 | $85,000 | $85,000 |
| Asian | 1 | $60,000 | $60,000 | $60,000 | $24,000 | $24,000 |
| Hispanic | 1 | $110,000 | $110,000 | $110,000 | $66,000 | $66,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 145 | $14,236,000 | $98,000 | $698,000 | $62,000 | $240,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $25,000 | $25,000 | $25,000 | $29,000 | $29,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing 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 | 91 | $9,226,000 | $101,000 | $698,000 | $67,000 | $240,000 |
| Application Denied By Financial Institution | 30 | $3,029,000 | $100,000 | $265,000 | $54,000 | $187,000 |
| Application Approved But Not Accepted | 21 | $1,798,000 | $85,000 | $185,000 | $58,000 | $132,000 |
| Application Withdrawn By Applicant | 4 | $208,000 | $52,000 | $81,000 | $38,000 | $68,000 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Firstbank - West Michigan's 2012 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 Firstbank - West Michigan'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 Michigan, download the full spreadsheet
with aggregated HMDA statistics today.
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