Granite Federal Credit Union Mortgage Lending & HMDA Data, 2022
In 2022, Granite Federal Credit Union of Salt Lake City, UT reported 860 mortgage applications totaling $238.6 million, down 13% from 2021. The average application was for $277,406, and applicants reported an average income of $423,634. 55% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Salt Lake City, UT (571), Provo-Orem, UT (61) and Ogden-Clearfield, UT (35) (applications in parentheses).
| Mortgage Company & Address | Granite Federal Credit Union 3675 S 900 E Salt Lake City, UT 84106 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 |
| Total Number of Mortgage Applications | 860 |
| Total Mortgage Loan Application Amount | $238,570,000 |
| Average Mortgage Loan Application Amount | $277,406 |
| Highest Mortgage Loan Application Amount | $4,545,000 |
| Average Applicant Income | $423,634 |
| Highest Applicant Income | $9,800,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Granite Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Salt Lake City, UT | 571 | $ 123,795,000 | $ 216,803 | $ 525,000 |
| Provo-Orem, UT | 61 | $ 19,205,000 | $ 314,836 | $ 346,000 |
| Outside any metro area | 43 | $ 22,085,000 | $ 513,604 | $ 454,046 |
| Ogden-Clearfield, UT | 35 | $ 12,715,000 | $ 363,285 | $ 118,000 |
| St. George, UT | 7 | $ 3,605,000 | $ 515,000 | $ 221,000 |
| Las Vegas-Henderson-Paradise, NV | 2 | $ 510,000 | $ 255,000 | $ 194,000 |
| Logan, UT-ID | 2 | $ 1,770,000 | $ 885,000 | $ 148,000 |
| Barnstable Town, MA | 1 | $ 795,000 | $ 795,000 | $ 188,000 |
| Boulder, CO | 1 | $ 35,000 | $ 35,000 | $ 203,000 |
| Dothan, AL | 1 | $ 195,000 | $ 195,000 | $ 86,000 |
| Fayetteville, NC | 1 | $ 25,000 | $ 25,000 | $ 84,000 |
| Houston-The Woodlands-Sugar Land, TX | 1 | $ 225,000 | $ 225,000 | $ 0 |
| Lake Havasu City-Kingman, AZ | 1 | $ 175,000 | $ 175,000 | $ 45,000 |
| Lakeland-Winter Haven, FL | 1 | $ 185,000 | $ 185,000 | $ 271,000 |
| Lawton, OK | 1 | $ 125,000 | $ 125,000 | $ 85,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 1 | $ 235,000 | $ 235,000 | $ 72,000 |
| Myrtle Beach-Conway-North Myrtle Beach, SC-NC | 1 | $ 515,000 | $ 515,000 | $ 292,000 |
| New York-Jersey City-White Plains, NY-NJ | 1 | $ 375,000 | $ 375,000 | $ 0 |
| Olympia-Tumwater, WA | 1 | $ 105,000 | $ 105,000 | $ 0 |
| Pensacola-Ferry Pass-Brent, FL | 1 | $ 55,000 | $ 55,000 | $ 55,000 |
| Sebring, FL | 1 | $ 165,000 | $ 165,000 | $ 0 |
Mortgage Loan Application Detail Totals for Granite Federal Credit Union in 2022
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 | 269 | $108,555,000 | $403,000 | $3,005,000 | $123,000 | $1,324,000 |
| Refinancing | 192 | $48,670,000 | $253,000 | $1,935,000 | $242,000 | $9,800,000 |
| Home Improvement | 154 | $15,220,000 | $98,000 | $1,165,000 | $953,000 | $9,022,000 |
| Other Purpose | 136 | $35,350,000 | $259,000 | $4,105,000 | $905,000 | $9,610,000 |
| Cash-out Refinancing | 109 | $30,775,000 | $282,000 | $4,545,000 | $137,000 | $1,830,000 |
| Not Applicable | 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 | 658 | $160,850,000 | $244,000 | $4,105,000 | $493,000 | $9,800,000 |
| Not Provided | 79 | $30,065,000 | $380,000 | $2,705,000 | $303,000 | $7,760,000 |
| Hispanic | 64 | $17,440,000 | $272,000 | $1,305,000 | $99,000 | $424,000 |
| Not applicable | 14 | $21,680,000 | $1,548,000 | $4,545,000 | $302,000 | $376,000 |
| Asian | 10 | $2,480,000 | $248,000 | $415,000 | $100,000 | $157,000 |
| American Indian or Alaskan Native | 8 | $1,180,000 | $147,000 | $505,000 | $70,000 | $105,000 |
| Black or African American | 7 | $1,335,000 | $190,000 | $425,000 | $90,000 | $250,000 |
| Native Hawaiian or Other Pacific Islander | 5 | $1,325,000 | $265,000 | $955,000 | $886,000 | $4,200,000 |
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) | 852 | $235,240,000 | $276,000 | $4,545,000 | $431,000 | $9,800,000 |
| FHA-insured (Federal Housing Administration) | 4 | $1,530,000 | $382,000 | $555,000 | $52,000 | $105,000 |
| VA-guaranteed (Veterans Administration) | 3 | $1,605,000 | $535,000 | $695,000 | $109,000 | $184,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $195,000 | $195,000 | $195,000 | $86,000 | $86,000 |
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 | 469 | $120,515,000 | $256,000 | $4,545,000 | $528,000 | $9,610,000 |
| Application Withdrawn By Applicant | 165 | $57,005,000 | $345,000 | $4,105,000 | $470,000 | $9,800,000 |
| File Closed For Incompleteness | 69 | $19,365,000 | $280,000 | $755,000 | $102,000 | $1,380,000 |
| Application Denied By Financial Institution | 61 | $11,145,000 | $182,000 | $1,405,000 | $395,000 | $6,153,000 |
| Application Approved But Not Accepted | 54 | $15,280,000 | $282,000 | $915,000 | $164,000 | $1,830,000 |
| Preapproval Approved but not Accepted | 32 | $12,120,000 | $378,000 | $855,000 | $101,000 | $243,000 |
| Preapproval Denied by Financial Institution | 10 | $3,140,000 | $314,000 | $455,000 | $96,000 | $295,000 |
| Loan Purchased By The 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 | 789 | $224,285,000 | $284,000 | $4,545,000 | $435,000 | $9,800,000 |
| Debt-To-Income Ratio | 36 | $7,560,000 | $210,000 | $1,305,000 | $491,000 | $6,153,000 |
| Credit History | 16 | $3,520,000 | $220,000 | $1,405,000 | $88,000 | $209,000 |
| Collateral | 8 | $1,010,000 | $126,000 | $305,000 | $48,000 | $103,000 |
| Other | 5 | $405,000 | $81,000 | $225,000 | $118,000 | $203,000 |
| Employment History | 2 | $430,000 | $215,000 | $405,000 | $2,297,000 | $4,300,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $680,000 | $340,000 | $485,000 | $46,000 | $92,000 |
| Unverifiable Information | 1 | $375,000 | $375,000 | $375,000 | $0 | $0 |
| Credit Application Incomplete | 1 | $305,000 | $305,000 | $305,000 | $282,000 | $282,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Granite Federal Credit Union's 2022 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 Granite Federal Credit Union'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 Utah, download the full spreadsheet
with aggregated HMDA statistics today.
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