Polish-Am Federal Credit Union Mortgage Lending & HMDA Data, 2024
In 2024, Polish-Am Federal Credit Union of Troy, MI reported 121 mortgage applications totaling $18.6 million, down 29% from 2023. The average application was for $153,512, and applicants reported an average income of $103,884. 98% of its applications resulted in an originated loan and 1% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (90), Detroit-Dearborn-Livonia, MI (13) and Ann Arbor, MI (1) (applications in parentheses).
| Mortgage Company & Address | Polish-Am Federal Credit Union 11905 Joseph Campau Troy, MI 48083 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 2004 2003 |
| Total Number of Mortgage Applications | 121 |
| Total Mortgage Loan Application Amount | $18,575,000 |
| Average Mortgage Loan Application Amount | $153,512 |
| Highest Mortgage Loan Application Amount | $535,000 |
| Average Applicant Income | $103,884 |
| Highest Applicant Income | $1,455,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Polish-Am Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Macomb, Michigan | 66 | $ 9,790,000 | $ 148,333 | $ 85,000 |
| Oakland, Michigan | 22 | $ 4,830,000 | $ 219,545 | $ 127,000 |
| Wayne, Michigan | 13 | $ 1,315,000 | $ 101,153 | $ 58,000 |
| Lapeer, Michigan | 2 | $ 230,000 | $ 115,000 | $ 58,000 |
| Jackson, Michigan | 1 | $ 125,000 | $ 125,000 | $ 90,000 |
| Monroe, Michigan | 1 | $ 275,000 | $ 275,000 | $ 69,000 |
| Montcalm, Michigan | 1 | $ 35,000 | $ 35,000 | $ 248,000 |
| Oscoda, Michigan | 1 | $ 295,000 | $ 295,000 | $ 1,455,000 |
| Washtenaw, Michigan | 1 | $ 175,000 | $ 175,000 | $ 67,000 |
Mortgage Loan Application Detail Totals for Polish-Am Federal Credit Union 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 | 64 | $12,580,000 | $196,000 | $535,000 | $115,000 | $1,455,000 |
| Cash-out Refinancing | 34 | $4,320,000 | $127,000 | $405,000 | $81,000 | $248,000 |
| Other Purpose | 14 | $930,000 | $66,000 | $255,000 | $124,000 | $420,000 |
| Refinancing | 9 | $745,000 | $82,000 | $205,000 | $80,000 | $120,000 |
| 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 | 120 | $18,480,000 | $154,000 | $535,000 | $104,000 | $1,455,000 |
| Black or African American | 1 | $95,000 | $95,000 | $95,000 | $47,000 | $47,000 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 121 | $18,575,000 | $153,000 | $535,000 | $104,000 | $1,455,000 |
| 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 | 118 | $18,220,000 | $154,000 | $535,000 | $104,000 | $1,455,000 |
| Preapproval Approved but not Accepted | 2 | $280,000 | $140,000 | $155,000 | $112,000 | $194,000 |
| Application Denied By Financial Institution | 1 | $75,000 | $75,000 | $75,000 | $55,000 | $55,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 | 120 | $18,500,000 | $154,000 | $535,000 | $104,000 | $1,455,000 |
| Debt-To-Income Ratio | 1 | $75,000 | $75,000 | $75,000 | $55,000 | $55,000 |
| 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 |
| 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 Polish-Am Federal Credit Union'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 Polish-Am Federal Credit Union'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 Michigan, download the full spreadsheet
with aggregated HMDA statistics today.
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