Nova Financial & Investment Corporation Mortgage Lending & HMDA Data, 2023
In 2023, Nova Financial & Investment Corporation of Tucson, AZ reported 7,970 mortgage applications totaling $2.5 billion, down 47% from 2022. The average application was for $316,327, and applicants reported an average income of $122,157. 61% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Phoenix-Mesa-Scottsdale, AZ (2,306), Tucson, AZ (1,984) and Yuma, AZ (720) (applications in parentheses).
| Mortgage Company & Address | Nova Financial & Investment Corporation 6245 E. Broadway Blvd., Suite 400 Tucson, AZ 85711 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 | 7,970 |
| Total Mortgage Loan Application Amount | $2,521,130,000 |
| Average Mortgage Loan Application Amount | $316,327 |
| Highest Mortgage Loan Application Amount | $3,365,000 |
| Average Applicant Income | $122,157 |
| Highest Applicant Income | $3,245,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Nova Financial & Investment Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Nova Financial & Investment Corporation 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 6,563 | $2,189,425,000 | $333,000 | $3,365,000 | $126,000 | $3,245,000 |
| Cash-out Refinancing | 1,109 | $251,285,000 | $226,000 | $1,105,000 | $100,000 | $1,055,000 |
| Refinancing | 298 | $80,420,000 | $269,000 | $1,945,000 | $120,000 | $2,527,000 |
| 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 |
|---|---|---|---|---|---|---|
| White | 3,868 | $1,331,450,000 | $344,000 | $3,365,000 | $138,000 | $3,245,000 |
| Hispanic | 2,653 | $715,105,000 | $269,000 | $1,745,000 | $97,000 | $2,054,000 |
| Not Provided | 869 | $274,285,000 | $315,000 | $1,945,000 | $119,000 | $1,548,000 |
| Black or African American | 306 | $99,300,000 | $324,000 | $1,905,000 | $126,000 | $2,119,000 |
| Asian | 175 | $64,125,000 | $366,000 | $1,005,000 | $142,000 | $678,000 |
| American Indian or Alaskan Native | 52 | $16,920,000 | $325,000 | $715,000 | $116,000 | $359,000 |
| Native Hawaiian or Other Pacific Islander | 10 | $4,050,000 | $405,000 | $1,005,000 | $162,000 | $256,000 |
| Not applicable | 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) | 4,497 | $1,400,775,000 | $311,000 | $3,365,000 | $144,000 | $3,245,000 |
| FHA-insured (Federal Housing Administration) | 2,647 | $808,905,000 | $305,000 | $855,000 | $89,000 | $864,000 |
| VA-guaranteed (Veterans Administration) | 787 | $301,895,000 | $383,000 | $1,785,000 | $109,000 | $778,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 39 | $9,555,000 | $245,000 | $415,000 | $80,000 | $130,000 |
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 | 4,880 | $1,573,010,000 | $322,000 | $3,365,000 | $123,000 | $3,245,000 |
| Application Withdrawn By Applicant | 1,347 | $420,775,000 | $312,000 | $2,065,000 | $126,000 | $2,527,000 |
| File Closed For Incompleteness | 1,162 | $359,300,000 | $309,000 | $2,835,000 | $112,000 | $2,580,000 |
| Application Denied By Financial Institution | 404 | $113,730,000 | $281,000 | $1,705,000 | $116,000 | $3,185,000 |
| Application Approved But Not Accepted | 177 | $54,315,000 | $306,000 | $1,415,000 | $123,000 | $913,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 7,566 | $2,407,400,000 | $318,000 | $3,365,000 | $122,000 | $3,245,000 |
| Credit History | 89 | $23,375,000 | $262,000 | $795,000 | $103,000 | $864,000 |
| Employment History | 85 | $27,915,000 | $328,000 | $1,705,000 | $94,000 | $438,000 |
| Collateral | 82 | $18,690,000 | $227,000 | $745,000 | $126,000 | $1,548,000 |
| Other | 60 | $18,280,000 | $304,000 | $795,000 | $190,000 | $3,185,000 |
| Debt-To-Income Ratio | 45 | $13,155,000 | $292,000 | $745,000 | $89,000 | $300,000 |
| Unverifiable Information | 26 | $7,300,000 | $280,000 | $515,000 | $99,000 | $190,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 17 | $5,015,000 | $295,000 | $725,000 | $92,000 | $199,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Nova Financial & Investment Corporation'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 Nova Financial & Investment Corporation'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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