Option Financial, LLC Mortgage Lending & HMDA Data, 2022
In 2022, Option Financial, LLC of Cincinnati, OH reported 310 mortgage applications totaling $60.4 million, down 41% from 2021. The average application was for $194,935, and applicants reported an average income of $125,393. 69% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Cincinnati, OH-KY-IN (271), Columbus, OH (5) and Dayton-Springfield-Kettering, OH (4) (applications in parentheses).
| Mortgage Company & Address | Option Financial, LLC 6551 Harrison Ave Cincinnati, OH 45247 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2023 2022 2021 2020 2019 2018 2017 2016 2015 2013 |
| Total Number of Mortgage Applications | 310 |
| Total Mortgage Loan Application Amount | $60,430,000 |
| Average Mortgage Loan Application Amount | $194,935 |
| Highest Mortgage Loan Application Amount | $645,000 |
| Average Applicant Income | $125,393 |
| Highest Applicant Income | $675,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Option Financial, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Option Financial, LLC in 2022
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 | 234 | $46,700,000 | $199,000 | $645,000 | $129,000 | $675,000 |
| Cash-out Refinancing | 59 | $10,925,000 | $185,000 | $405,000 | $121,000 | $389,000 |
| Refinancing | 17 | $2,805,000 | $165,000 | $325,000 | $91,000 | $191,000 |
| 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 | 253 | $49,205,000 | $194,000 | $645,000 | $121,000 | $660,000 |
| Hispanic | 25 | $3,755,000 | $150,000 | $335,000 | $167,000 | $389,000 |
| Asian | 16 | $3,810,000 | $238,000 | $405,000 | $180,000 | $675,000 |
| Black or African American | 12 | $2,940,000 | $245,000 | $525,000 | $86,000 | $170,000 |
| Not Provided | 2 | $370,000 | $185,000 | $205,000 | $44,000 | $52,000 |
| American Indian or Alaskan Native | 1 | $125,000 | $125,000 | $125,000 | $38,000 | $38,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $225,000 | $225,000 | $225,000 | $175,000 | $175,000 |
| 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) | 252 | $48,810,000 | $193,000 | $645,000 | $137,000 | $675,000 |
| FHA-insured (Federal Housing Administration) | 53 | $10,325,000 | $194,000 | $425,000 | $72,000 | $212,000 |
| VA-guaranteed (Veterans Administration) | 4 | $1,140,000 | $285,000 | $395,000 | $115,000 | $158,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $155,000 | $155,000 | $155,000 | $39,000 | $39,000 |
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 | 215 | $41,775,000 | $194,000 | $645,000 | $131,000 | $675,000 |
| Application Withdrawn By Applicant | 59 | $12,665,000 | $214,000 | $415,000 | $107,000 | $248,000 |
| Application Denied By Financial Institution | 33 | $5,425,000 | $164,000 | $325,000 | $124,000 | $389,000 |
| Application Approved But Not Accepted | 2 | $280,000 | $140,000 | $185,000 | $79,000 | $103,000 |
| File Closed For Incompleteness | 1 | $285,000 | $285,000 | $285,000 | $84,000 | $84,000 |
| 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 | 277 | $55,005,000 | $198,000 | $645,000 | $126,000 | $675,000 |
| Unverifiable Information | 13 | $2,065,000 | $158,000 | $245,000 | $176,000 | $389,000 |
| Credit History | 7 | $1,235,000 | $176,000 | $255,000 | $58,000 | $92,000 |
| Debt-To-Income Ratio | 4 | $430,000 | $107,000 | $135,000 | $120,000 | $317,000 |
| Collateral | 4 | $630,000 | $157,000 | $235,000 | $125,000 | $240,000 |
| Credit Application Incomplete | 4 | $930,000 | $232,000 | $325,000 | $92,000 | $129,000 |
| Other | 1 | $135,000 | $135,000 | $135,000 | $67,000 | $67,000 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Option Financial, LLC's 2022 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 Option Financial, LLC'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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