Get A Rate LLC Mortgage Lending & HMDA Data, 2018
In 2018, Get A Rate LLC of Elmwood Park, NJ reported 921 mortgage applications totaling $295.7 million, up 42% from 2017. The average application was for $321,058, and applicants reported an average income of $133,552. 47% of its applications resulted in an originated loan and 5% were denied. Its largest markets were New York-Jersey City-White Plains, NY-NJ (456), Newark, NJ-PA (170) and Tampa-St. Petersburg-Clearwater, FL (29) (applications in parentheses).
| Mortgage Company & Address | Get A Rate LLC 200 Riverfront Blvd, Ste 100 Elmwood Park, NJ 07407 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2018 2017 2016 2015 |
| Total Number of Mortgage Applications | 921 |
| Total Mortgage Loan Application Amount | $295,695,000 |
| Average Mortgage Loan Application Amount | $321,058 |
| Highest Mortgage Loan Application Amount | $985,000 |
| Average Applicant Income | $133,552 |
| Highest Applicant Income | $2,640,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Get A Rate LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Get A Rate LLC in 2018
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 | 722 | $232,140,000 | $321,000 | $985,000 | $129,000 | $2,640,000 |
| Refinancing | 122 | $37,720,000 | $309,000 | $855,000 | $164,000 | $2,004,000 |
| Cash-out Refinancing | 77 | $25,835,000 | $335,000 | $705,000 | $128,000 | $435,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 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 | 426 | $139,110,000 | $326,000 | $985,000 | $135,000 | $2,004,000 |
| Hispanic | 187 | $57,675,000 | $308,000 | $835,000 | $104,000 | $410,000 |
| Not Provided | 124 | $38,650,000 | $311,000 | $675,000 | $181,000 | $2,640,000 |
| Asian | 103 | $36,075,000 | $350,000 | $715,000 | $129,000 | $316,000 |
| Black or African American | 68 | $19,750,000 | $290,000 | $635,000 | $122,000 | $840,000 |
| Native Hawaiian or Other Pacific Islander | 5 | $2,025,000 | $405,000 | $485,000 | $108,000 | $143,000 |
| American Indian or Alaskan Native | 2 | $460,000 | $230,000 | $235,000 | $83,000 | $99,000 |
| 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 |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 706 | $227,820,000 | $322,000 | $985,000 | $145,000 | $2,640,000 |
| FHA-insured (Federal Housing Administration) | 195 | $59,915,000 | $307,000 | $655,000 | $95,000 | $235,000 |
| VA-guaranteed (Veterans Administration) | 19 | $7,705,000 | $405,000 | $565,000 | $113,000 | $200,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $255,000 | $255,000 | $255,000 | $54,000 | $54,000 |
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 | 432 | $138,620,000 | $320,000 | $955,000 | $127,000 | $584,000 |
| Application Withdrawn By Applicant | 328 | $108,040,000 | $329,000 | $985,000 | $149,000 | $2,640,000 |
| File Closed For Incompleteness | 116 | $35,220,000 | $303,000 | $795,000 | $127,000 | $989,000 |
| Application Denied By Financial Institution | 43 | $13,275,000 | $308,000 | $835,000 | $108,000 | $271,000 |
| Application Approved But Not Accepted | 2 | $540,000 | $270,000 | $305,000 | $108,000 | $129,000 |
| 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 | 878 | $282,420,000 | $321,000 | $985,000 | $135,000 | $2,640,000 |
| Collateral | 13 | $3,345,000 | $257,000 | $505,000 | $117,000 | $200,000 |
| Debt-To-Income Ratio | 13 | $5,365,000 | $412,000 | $835,000 | $119,000 | $271,000 |
| Credit History | 7 | $1,945,000 | $277,000 | $435,000 | $106,000 | $200,000 |
| Employment History | 4 | $1,170,000 | $292,000 | $365,000 | $87,000 | $100,000 |
| Other | 2 | $530,000 | $265,000 | $275,000 | $59,000 | $60,000 |
| Unverifiable Information | 2 | $530,000 | $265,000 | $295,000 | $96,000 | $110,000 |
| Credit Application Incomplete | 1 | $125,000 | $125,000 | $125,000 | $111,000 | $111,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $265,000 | $265,000 | $265,000 | $92,000 | $92,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Get A Rate LLC's 2018 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 Get A Rate LLC'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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