Get A Rate LLC Mortgage Lending & HMDA Data, 2016
In 2016, Get A Rate LLC of Elmwood Park, NJ reported 538 mortgage applications totaling $170.1 million, up 57% from 2015. The average application was for $316,182, and applicants reported an average income of $117,035. 62% of its applications resulted in an originated loan and 10% were denied. Its largest markets were New York-Jersey City-White Plains, NY-NJ (416), Newark, NJ-PA (111) and Allentown-Bethlehem-Easton, PA-NJ (4) (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 | 538 |
| Total Mortgage Loan Application Amount | $170,106,000 |
| Average Mortgage Loan Application Amount | $316,182 |
| Highest Mortgage Loan Application Amount | $1,000,000 |
| Average Applicant Income | $117,035 |
| Highest Applicant Income | $769,000 |
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Act (HMDA) records Get A Rate LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2016
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 | 319 | $103,169,000 | $323,000 | $863,000 | $115,000 | $769,000 |
| Refinancing | 219 | $66,937,000 | $305,000 | $1,000,000 | $120,000 | $522,000 |
| Home Improvement | 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 | 273 | $87,990,000 | $322,000 | $626,000 | $128,000 | $769,000 |
| Not Provided | 111 | $33,286,000 | $299,000 | $1,000,000 | $106,000 | $480,000 |
| Hispanic | 90 | $28,019,000 | $311,000 | $632,000 | $95,000 | $300,000 |
| Asian | 48 | $15,619,000 | $325,000 | $625,000 | $130,000 | $522,000 |
| Black or African American | 16 | $5,192,000 | $324,000 | $696,000 | $93,000 | $256,000 |
| Native Hawaiin or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 374 | $117,702,000 | $314,000 | $1,000,000 | $129,000 | $769,000 |
| FHA-insured (Federal Housing Administration) | 148 | $46,529,000 | $314,000 | $625,000 | $90,000 | $301,000 |
| VA-guaranteed (Veterans Administration) | 16 | $5,875,000 | $367,000 | $696,000 | $81,000 | $256,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 334 | $110,168,000 | $329,000 | $824,000 | $120,000 | $436,000 |
| Application Withdrawn By Applicant | 129 | $38,521,000 | $298,000 | $1,000,000 | $118,000 | $769,000 |
| Application Denied By Financial Institution | 54 | $15,045,000 | $278,000 | $625,000 | $96,000 | $264,000 |
| File Closed For Incompleteness | 18 | $5,502,000 | $305,000 | $471,000 | $106,000 | $285,000 |
| Application Approved But Not Accepted | 3 | $870,000 | $290,000 | $362,000 | $140,000 | $238,000 |
| 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 | 19 | $4,976,000 | $261,000 | $625,000 | $81,000 | $243,000 |
| Credit History | 11 | $3,038,000 | $276,000 | $509,000 | $95,000 | $195,000 |
| Collateral | 6 | $1,949,000 | $324,000 | $567,000 | $145,000 | $212,000 |
| Unverifiable Information | 6 | $1,797,000 | $299,000 | $600,000 | $112,000 | $264,000 |
| Credit Application Incomplete | 2 | $784,000 | $392,000 | $464,000 | $119,000 | $133,000 |
| Other | 1 | $400,000 | $400,000 | $400,000 | $99,000 | $99,000 |
| Employment History | 1 | $153,000 | $153,000 | $153,000 | $46,000 | $46,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $305,000 | $305,000 | $305,000 | $59,000 | $59,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Get A Rate LLC's 2016 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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