Get A Rate LLC Mortgage Lending & HMDA Data, 2017
In 2017, Get A Rate LLC of Elmwood Park, NJ reported 647 mortgage applications totaling $197.8 million, up 20% from 2016. The average application was for $305,715, and applicants reported an average income of $113,859. 62% of its applications resulted in an originated loan and 7% were denied. Its largest markets were New York-Jersey City-White Plains, NY-NJ (456), Newark, NJ-PA (162) and Camden, NJ (7) (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 | 647 |
| Total Mortgage Loan Application Amount | $197,798,000 |
| Average Mortgage Loan Application Amount | $305,715 |
| Highest Mortgage Loan Application Amount | $900,000 |
| Average Applicant Income | $113,859 |
| Highest Applicant Income | $444,000 |
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Act (HMDA) records Get A Rate LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Bergen, New Jersey | 203 | $ 67,628,000 | $ 333,142 | $ 114,000 |
| Passaic, New Jersey | 147 | $ 42,426,000 | $ 288,612 | $ 109,000 |
| Essex, New Jersey | 59 | $ 16,564,000 | $ 280,745 | $ 113,000 |
| Hudson, New Jersey | 45 | $ 14,127,000 | $ 313,933 | $ 109,000 |
| Morris, New Jersey | 45 | $ 14,242,000 | $ 316,488 | $ 133,000 |
| Middlesex, New Jersey | 30 | $ 10,033,000 | $ 334,433 | $ 125,000 |
| Union, New Jersey | 28 | $ 6,829,000 | $ 243,892 | $ 85,000 |
| Monmouth, New Jersey | 16 | $ 5,857,000 | $ 366,062 | $ 127,000 |
| Somerset, New Jersey | 13 | $ 3,338,000 | $ 256,769 | $ 144,000 |
| Sussex, New Jersey | 13 | $ 3,377,000 | $ 259,769 | $ 89,000 |
| Ocean, New Jersey | 12 | $ 3,262,000 | $ 271,833 | $ 139,000 |
| Mercer, New Jersey | 6 | $ 1,214,000 | $ 202,333 | $ 132,000 |
| Atlantic, New Jersey | 4 | $ 840,000 | $ 210,000 | $ 37,000 |
| Hunterdon, New Jersey | 4 | $ 1,447,000 | $ 361,750 | $ 143,000 |
| Gloucester, New Jersey | 3 | $ 718,000 | $ 239,333 | $ 112,000 |
| Hillsborough, Florida | 2 | $ 513,000 | $ 256,500 | $ 75,000 |
| Burlington, New Jersey | 2 | $ 631,000 | $ 315,500 | $ 125,000 |
| Camden, New Jersey | 2 | $ 555,000 | $ 277,500 | $ 120,000 |
| Warren, New Jersey | 2 | $ 500,000 | $ 250,000 | $ 93,000 |
| Fairfield, Connecticut | 1 | $ 250,000 | $ 250,000 | $ 214,000 |
| Broward, Florida | 1 | $ 360,000 | $ 360,000 | $ 90,000 |
| Pinellas, Florida | 1 | $ 345,000 | $ 345,000 | $ 200,000 |
| Sarasota, Florida | 1 | $ 148,000 | $ 148,000 | $ 105,000 |
| St. Lucie, Florida | 1 | $ 180,000 | $ 180,000 | $ 38,000 |
| Volusia, Florida | 1 | $ 276,000 | $ 276,000 | $ 82,000 |
| Androscoggin, Maine | 1 | $ 204,000 | $ 204,000 | $ 52,000 |
| Cape May, New Jersey | 1 | $ 159,000 | $ 159,000 | $ 152,000 |
| Queens, New York | 1 | $ 615,000 | $ 615,000 | $ 331,000 |
| Richmond, New York | 1 | $ 792,000 | $ 792,000 | $ 172,000 |
| Westchester, New York | 1 | $ 368,000 | $ 368,000 | $ 205,000 |
Mortgage Loan Application Detail Totals for Get A Rate LLC in 2017
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 | 427 | $134,323,000 | $314,000 | $900,000 | $111,000 | $444,000 |
| Refinancing | 207 | $59,163,000 | $285,000 | $600,000 | $120,000 | $400,000 |
| Home Improvement | 13 | $4,312,000 | $331,000 | $667,000 | $110,000 | $237,000 |
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 | 306 | $95,246,000 | $311,000 | $882,000 | $124,000 | $440,000 |
| Not Provided | 140 | $42,977,000 | $306,000 | $819,000 | $108,000 | $343,000 |
| Hispanic | 117 | $34,504,000 | $294,000 | $900,000 | $96,000 | $444,000 |
| Asian | 54 | $17,323,000 | $320,000 | $636,000 | $125,000 | $400,000 |
| Black or African American | 27 | $6,634,000 | $245,000 | $634,000 | $94,000 | $285,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $324,000 | $324,000 | $324,000 | $113,000 | $113,000 |
| Not applicable | 1 | $420,000 | $420,000 | $420,000 | $84,000 | $84,000 |
| American Indian or Alaskan Native | 1 | $370,000 | $370,000 | $370,000 | $75,000 | $75,000 |
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) | 463 | $140,069,000 | $302,000 | $882,000 | $120,000 | $419,000 |
| FHA-insured (Federal Housing Administration) | 169 | $51,681,000 | $305,000 | $792,000 | $96,000 | $440,000 |
| VA-guaranteed (Veterans Administration) | 14 | $5,765,000 | $411,000 | $900,000 | $125,000 | $444,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $283,000 | $283,000 | $283,000 | $89,000 | $89,000 |
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 | 401 | $125,640,000 | $313,000 | $882,000 | $117,000 | $419,000 |
| Application Withdrawn By Applicant | 187 | $55,845,000 | $298,000 | $819,000 | $111,000 | $440,000 |
| Application Denied By Financial Institution | 43 | $11,992,000 | $278,000 | $900,000 | $103,000 | $444,000 |
| File Closed For Incompleteness | 15 | $4,073,000 | $271,000 | $530,000 | $107,000 | $343,000 |
| Application Approved But Not Accepted | 1 | $248,000 | $248,000 | $248,000 | $67,000 | $67,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 21 | $5,952,000 | $283,000 | $525,000 | $83,000 | $206,000 |
| Collateral | 8 | $1,556,000 | $194,000 | $289,000 | $100,000 | $194,000 |
| Credit History | 6 | $1,705,000 | $284,000 | $424,000 | $136,000 | $198,000 |
| Credit Application Incomplete | 1 | $143,000 | $143,000 | $143,000 | $89,000 | $89,000 |
| Other | 1 | $512,000 | $512,000 | $512,000 | $129,000 | $129,000 |
| Unverifiable Information | 1 | $304,000 | $304,000 | $304,000 | $36,000 | $36,000 |
| Employment History | 1 | $225,000 | $225,000 | $225,000 | $66,000 | $66,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $900,000 | $900,000 | $900,000 | $444,000 | $444,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Get A Rate LLC's 2017 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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with aggregated HMDA statistics today.
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