Horizon Financial Bank Mortgage Lending & HMDA Data, 2016
In 2016, Horizon Financial Bank of Munich, ND reported 33 mortgage applications totaling $5.4 million, up 22% from 2015. The average application was for $162,909, and applicants reported an average income of $136,575. 67% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Cape Coral-Fort Myers, FL (4), Bismarck, ND (2) and Grand Forks, ND-MN (1) (applications in parentheses).
| Mortgage Company & Address | Horizon Financial Bank 416 Main St Munich, ND 58352 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2016 2015 |
| Total Number of Mortgage Applications | 33 |
| Total Mortgage Loan Application Amount | $5,376,000 |
| Average Mortgage Loan Application Amount | $162,909 |
| Highest Mortgage Loan Application Amount | $563,000 |
| Average Applicant Income | $136,575 |
| Highest Applicant Income | $1,873,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Horizon Financial Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Ramsey, North Dakota | 7 | $ 961,000 | $ 137,285 | $ 91,000 |
| Lee, Florida | 4 | $ 1,246,000 | $ 311,500 | $ 468,000 |
| Cavalier, North Dakota | 4 | $ 769,000 | $ 192,250 | $ 51,000 |
| Rolette, North Dakota | 4 | $ 398,000 | $ 99,500 | $ 68,000 |
| Benson, North Dakota | 2 | $ 144,000 | $ 72,000 | $ 53,000 |
| Burleigh, North Dakota | 2 | $ 226,000 | $ 113,000 | $ 93,000 |
| Emmons, North Dakota | 2 | $ 450,000 | $ 225,000 | $ 68,000 |
| Towner, North Dakota | 2 | $ 130,000 | $ 65,000 | $ 267,000 |
| Bottineau, North Dakota | 1 | $ 221,000 | $ 221,000 | $ 172,000 |
| Foster, North Dakota | 1 | $ 61,000 | $ 61,000 | $ 51,000 |
| Grand Forks, North Dakota | 1 | $ 245,000 | $ 245,000 | $ 64,000 |
| McHenry, North Dakota | 1 | $ 270,000 | $ 270,000 | $ 74,000 |
| Nelson, North Dakota | 1 | $ 179,000 | $ 179,000 | $ 68,000 |
| Williams, North Dakota | 1 | $ 76,000 | $ 76,000 | $ 127,000 |
Mortgage Loan Application Detail Totals for Horizon Financial Bank 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 | 21 | $3,734,000 | $177,000 | $563,000 | $169,000 | $1,873,000 |
| Refinancing | 10 | $1,627,000 | $162,000 | $379,000 | $85,000 | $233,000 |
| Home Improvement | 2 | $15,000 | $7,000 | $12,000 | $54,000 | $109,000 |
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 | 28 | $4,574,000 | $163,000 | $563,000 | $159,000 | $1,873,000 |
| Not applicable | 4 | $686,000 | $171,000 | $379,000 | $0 | $0 |
| Not Provided | 1 | $116,000 | $116,000 | $116,000 | $57,000 | $57,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiin 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) | 31 | $4,872,000 | $157,000 | $563,000 | $141,000 | $1,873,000 |
| VA-guaranteed (Veterans Administration) | 2 | $504,000 | $252,000 | $300,000 | $61,000 | $76,000 |
| 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 |
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 | 22 | $3,751,000 | $170,000 | $563,000 | $168,000 | $1,873,000 |
| Application Denied By Financial Institution | 5 | $633,000 | $126,000 | $270,000 | $82,000 | $172,000 |
| Application Withdrawn By Applicant | 5 | $876,000 | $175,000 | $300,000 | $68,000 | $99,000 |
| Application Approved But Not Accepted | 1 | $116,000 | $116,000 | $116,000 | $57,000 | $57,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Horizon Financial Bank'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 Horizon Financial Bank'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 North Dakota, download the full spreadsheet
with aggregated HMDA statistics today.
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