Heart O' Texas Federal Credit Union Mortgage Lending & HMDA Data, 2023
In 2023, Heart O' Texas Federal Credit Union of Waco, TX reported 85 mortgage applications totaling $10.9 million, down 15% from 2022. The average application was for $128,176, and applicants reported an average income of $79,823. 35% of its applications resulted in an originated loan and 44% were denied. Its largest markets were Waco, TX (43), Killeen-Temple, TX (21) and Atlanta-Sandy Springs-Roswell, GA (1) (applications in parentheses).
| Mortgage Company & Address | Heart O' Texas Federal Credit Union Po Box 11 Waco, TX 76712 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2024 2023 2022 2021 |
| Total Number of Mortgage Applications | 85 |
| Total Mortgage Loan Application Amount | $10,895,000 |
| Average Mortgage Loan Application Amount | $128,176 |
| Highest Mortgage Loan Application Amount | $385,000 |
| Average Applicant Income | $79,823 |
| Highest Applicant Income | $377,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Heart O' Texas Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Waco, TX | 43 | $ 4,725,000 | $ 109,883 | $ 81,000 |
| Killeen-Temple, TX | 21 | $ 2,895,000 | $ 137,857 | $ 87,000 |
| Outside any metro area | 18 | $ 3,060,000 | $ 170,000 | $ 72,222 |
| Atlanta-Sandy Springs-Roswell, GA | 1 | $ 45,000 | $ 45,000 | $ 50,000 |
| Dallas-Plano-Irving, TX | 1 | $ 105,000 | $ 105,000 | $ 56,000 |
| San Angelo, TX | 1 | $ 65,000 | $ 65,000 | $ 82,000 |
Mortgage Loan Application Detail Totals for Heart O' Texas Federal Credit Union in 2023
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 |
|---|---|---|---|---|---|---|
| Cash-out Refinancing | 51 | $4,755,000 | $93,000 | $305,000 | $85,000 | $377,000 |
| Home Purchase | 25 | $5,065,000 | $202,000 | $355,000 | $72,000 | $360,000 |
| Other Purpose | 4 | $260,000 | $65,000 | $205,000 | $72,000 | $110,000 |
| Refinancing | 4 | $730,000 | $182,000 | $385,000 | $78,000 | $112,000 |
| Not Applicable | 1 | $85,000 | $85,000 | $85,000 | $50,000 | $50,000 |
| 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 |
|---|---|---|---|---|---|---|
| Hispanic | 38 | $4,760,000 | $125,000 | $305,000 | $61,000 | $360,000 |
| White | 38 | $4,780,000 | $125,000 | $385,000 | $105,000 | $377,000 |
| Black or African American | 9 | $1,355,000 | $150,000 | $295,000 | $54,000 | $127,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 85 | $10,895,000 | $128,000 | $385,000 | $80,000 | $377,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 37 | $4,515,000 | $122,000 | $355,000 | $49,000 | $162,000 |
| Loan Originated | 30 | $3,560,000 | $118,000 | $385,000 | $108,000 | $295,000 |
| Application Approved But Not Accepted | 14 | $2,170,000 | $155,000 | $255,000 | $85,000 | $377,000 |
| Application Withdrawn By Applicant | 2 | $290,000 | $145,000 | $205,000 | $71,000 | $92,000 |
| Preapproval Approved but not Accepted | 1 | $155,000 | $155,000 | $155,000 | $39,000 | $39,000 |
| Preapproval Denied by Financial Institution | 1 | $205,000 | $205,000 | $205,000 | $360,000 | $360,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 47 | $6,175,000 | $131,000 | $385,000 | $98,000 | $377,000 |
| Credit History | 11 | $1,165,000 | $105,000 | $285,000 | $41,000 | $67,000 |
| Debt-To-Income Ratio | 11 | $1,495,000 | $135,000 | $305,000 | $45,000 | $90,000 |
| Other | 7 | $945,000 | $135,000 | $305,000 | $62,000 | $162,000 |
| Collateral | 5 | $285,000 | $57,000 | $105,000 | $61,000 | $88,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $695,000 | $231,000 | $355,000 | $141,000 | $360,000 |
| Unverifiable Information | 1 | $135,000 | $135,000 | $135,000 | $75,000 | $75,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Heart O' Texas Federal Credit Union's 2023 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 Heart O' Texas 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 Texas, download the full spreadsheet
with aggregated HMDA statistics today.
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