Polish-Am Federal Credit Union Mortgage Lending & HMDA Data, 2023
In 2023, Polish-Am Federal Credit Union of Troy, MI reported 171 mortgage applications totaling $26.6 million, up 2% from 2022. The average application was for $155,643, and applicants reported an average income of $93,327. 88% of its applications resulted in an originated loan and 0% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (121), Detroit-Dearborn-Livonia, MI (10) and Jackson, MI (3) (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 | 171 |
| Total Mortgage Loan Application Amount | $26,615,000 |
| Average Mortgage Loan Application Amount | $155,643 |
| Highest Mortgage Loan Application Amount | $555,000 |
| Average Applicant Income | $93,327 |
| Highest Applicant Income | $731,000 |
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records Polish-Am Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Warren-Troy-Farmington Hills, MI | 121 | $ 18,885,000 | $ 156,074 | $ 91,000 |
| Outside any metro area | 34 | $ 5,960,000 | $ 175,294 | $ 113,235 |
| Detroit-Dearborn-Livonia, MI | 10 | $ 950,000 | $ 95,000 | $ 58,000 |
| Jackson, MI | 3 | $ 185,000 | $ 61,666 | $ 78,000 |
| Grand Rapids-Wyoming, MI | 2 | $ 490,000 | $ 245,000 | $ 128,000 |
| Lansing-East Lansing, MI | 1 | $ 145,000 | $ 145,000 | $ 58,000 |
Mortgage Loan Application Detail Totals for Polish-Am Federal Credit Union 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 | 108 | $19,450,000 | $180,000 | $555,000 | $96,000 | $731,000 |
| Cash-out Refinancing | 25 | $3,285,000 | $131,000 | $405,000 | $78,000 | $209,000 |
| Other Purpose | 23 | $1,015,000 | $44,000 | $105,000 | $97,000 | $298,000 |
| Refinancing | 15 | $2,865,000 | $191,000 | $555,000 | $94,000 | $168,000 |
| 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 | 170 | $26,390,000 | $155,000 | $555,000 | $94,000 | $731,000 |
| 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 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 |
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) | 171 | $26,615,000 | $155,000 | $555,000 | $93,000 | $731,000 |
| 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 | 150 | $22,760,000 | $151,000 | $555,000 | $90,000 | $298,000 |
| Application Withdrawn By Applicant | 10 | $1,790,000 | $179,000 | $365,000 | $91,000 | $313,000 |
| Application Approved But Not Accepted | 8 | $1,240,000 | $155,000 | $245,000 | $152,000 | $731,000 |
| Preapproval Approved but not Accepted | 2 | $710,000 | $355,000 | $405,000 | $108,000 | $117,000 |
| Preapproval Denied by Financial Institution | 1 | $115,000 | $115,000 | $115,000 | $180,000 | $180,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Denied By Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 | 170 | $26,500,000 | $155,000 | $555,000 | $93,000 | $731,000 |
| Debt-To-Income Ratio | 1 | $115,000 | $115,000 | $115,000 | $180,000 | $180,000 |
| 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 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 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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