Heritage Bank of Commerce Mortgage Lending & HMDA Data, 2024
In 2024, Heritage Bank of Commerce of San Jose, CA reported 30 mortgage applications totaling $42.6 million, down 14% from 2023. The average application was for $1,419,666, and applicants reported an average income of $697,428. 80% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Oakland-Hayward-Berkeley, CA (10), San Jose-Sunnyvale-Santa Clara, CA (8) and San Francisco-Redwood City-South San Francisco, CA (7) (applications in parentheses).
| Mortgage Company & Address | Heritage Bank of Commerce 224 Airport Pkwy #300 San Jose, CA 95110 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2024 2023 |
| Total Number of Mortgage Applications | 30 |
| Total Mortgage Loan Application Amount | $42,590,000 |
| Average Mortgage Loan Application Amount | $1,419,666 |
| Highest Mortgage Loan Application Amount | $3,725,000 |
| Average Applicant Income | $697,428 |
| Highest Applicant Income | $979,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Heritage Bank of Commerce filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Heritage Bank of Commerce in 2024
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 | 16 | $27,800,000 | $1,737,000 | $3,725,000 | $0 | $0 |
| Refinancing | 8 | $7,560,000 | $945,000 | $2,505,000 | $979,000 | $979,000 |
| Cash-out Refinancing | 6 | $7,230,000 | $1,205,000 | $2,505,000 | $322,000 | $322,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 26 | $39,450,000 | $1,517,000 | $3,725,000 | $0 | $0 |
| Hispanic | 2 | $1,040,000 | $520,000 | $675,000 | $979,000 | $979,000 |
| Asian | 1 | $495,000 | $495,000 | $495,000 | $0 | $0 |
| White | 1 | $1,605,000 | $1,605,000 | $1,605,000 | $322,000 | $322,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 30 | $42,590,000 | $1,419,000 | $3,725,000 | $650,000 | $979,000 |
| 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 |
|---|---|---|---|---|---|---|
| Loan Originated | 24 | $29,840,000 | $1,243,000 | $2,505,000 | $650,000 | $979,000 |
| Application Withdrawn By Applicant | 4 | $9,640,000 | $2,410,000 | $3,725,000 | $0 | $0 |
| Application Approved But Not Accepted | 1 | $2,105,000 | $2,105,000 | $2,105,000 | $0 | $0 |
| Application Denied By Financial Institution | 1 | $1,005,000 | $1,005,000 | $1,005,000 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 30 | $42,590,000 | $1,419,000 | $3,725,000 | $650,000 | $979,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Heritage Bank of Commerce's 2024 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 Heritage Bank of Commerce'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 California, download the full spreadsheet
with aggregated HMDA statistics today.
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