Nova Financial & Investment Corporation Mortgage Lending & HMDA Data, 2024
In 2024, Nova Financial & Investment Corporation of Tucson, AZ reported 6,917 mortgage applications totaling $2.2 billion, down 13% from 2023. The average application was for $318,323, and applicants reported an average income of $128,459. 69% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Tucson, AZ (1,872), Phoenix-Mesa-Scottsdale, AZ (1,855) and Yuma, AZ (911) (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 | 6,917 |
| Total Mortgage Loan Application Amount | $2,201,845,000 |
| Average Mortgage Loan Application Amount | $318,323 |
| Highest Mortgage Loan Application Amount | $4,205,000 |
| Average Applicant Income | $128,459 |
| Highest Applicant Income | $4,831,000 |
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Nova Financial & Investment Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 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 | 5,110 | $1,735,970,000 | $339,000 | $4,205,000 | $133,000 | $4,831,000 |
| Cash-out Refinancing | 1,124 | $253,070,000 | $225,000 | $2,305,000 | $111,000 | $1,981,000 |
| Refinancing | 646 | $208,840,000 | $323,000 | $2,245,000 | $123,000 | $2,580,000 |
| Other Purpose | 37 | $3,965,000 | $107,000 | $365,000 | $127,000 | $1,800,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 3,317 | $1,161,215,000 | $350,000 | $4,205,000 | $146,000 | $4,831,000 |
| Hispanic | 2,084 | $538,060,000 | $258,000 | $2,305,000 | $96,000 | $1,772,000 |
| Not Provided | 1,051 | $337,975,000 | $321,000 | $1,445,000 | $134,000 | $1,861,000 |
| Asian | 209 | $80,375,000 | $384,000 | $1,785,000 | $174,000 | $1,800,000 |
| Black or African American | 202 | $66,770,000 | $330,000 | $1,095,000 | $115,000 | $683,000 |
| American Indian or Alaskan Native | 44 | $13,780,000 | $313,000 | $705,000 | $104,000 | $291,000 |
| Native Hawaiian or Other Pacific Islander | 10 | $3,670,000 | $367,000 | $745,000 | $126,000 | $350,000 |
| 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) | 4,252 | $1,306,710,000 | $307,000 | $4,205,000 | $148,000 | $4,831,000 |
| FHA-insured (Federal Housing Administration) | 1,986 | $631,340,000 | $317,000 | $955,000 | $94,000 | $1,800,000 |
| VA-guaranteed (Veterans Administration) | 634 | $252,780,000 | $398,000 | $1,115,000 | $106,000 | $632,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 45 | $11,015,000 | $244,000 | $465,000 | $74,000 | $125,000 |
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 | 4,748 | $1,530,890,000 | $322,000 | $2,305,000 | $130,000 | $4,831,000 |
| Application Withdrawn By Applicant | 1,128 | $364,690,000 | $323,000 | $2,285,000 | $124,000 | $1,861,000 |
| File Closed For Incompleteness | 532 | $158,780,000 | $298,000 | $1,995,000 | $129,000 | $1,772,000 |
| Application Denied By Financial Institution | 363 | $97,755,000 | $269,000 | $4,205,000 | $119,000 | $2,580,000 |
| Application Approved But Not Accepted | 146 | $49,730,000 | $340,000 | $1,605,000 | $126,000 | $708,000 |
| 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 | 6,554 | $2,104,090,000 | $321,000 | $2,305,000 | $129,000 | $4,831,000 |
| Credit History | 76 | $18,230,000 | $239,000 | $805,000 | $128,000 | $2,580,000 |
| Collateral | 73 | $20,185,000 | $276,000 | $4,205,000 | $124,000 | $1,800,000 |
| Debt-To-Income Ratio | 68 | $18,060,000 | $265,000 | $935,000 | $92,000 | $252,000 |
| Other | 61 | $16,695,000 | $273,000 | $1,005,000 | $165,000 | $1,800,000 |
| Employment History | 55 | $16,125,000 | $293,000 | $1,305,000 | $92,000 | $426,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 16 | $4,940,000 | $308,000 | $665,000 | $101,000 | $256,000 |
| Unverifiable Information | 14 | $3,520,000 | $251,000 | $545,000 | $112,000 | $240,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Nova Financial & Investment Corporation'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 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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