Potomac Bank of Virginia Mortgage Lending & HMDA Data, 2004
In 2004, Potomac Bank of Virginia of Fairfax, VA reported 160 mortgage applications totaling $58.9 million, up 48% from 2003. The average application was for $367,956, and applicants reported an average income of $143,556. 66% of its applications resulted in an originated loan and 1% were denied. Its largest markets were Brunswick, GA (2), Cape Coral-Fort Myers, FL (2) and Pittsburgh, PA (2) (applications in parentheses).
| Mortgage Company & Address | Potomac Bank of Virginia 9910 Main Street Fairfax, VA 22031 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 160 |
| Total Mortgage Loan Application Amount | $58,873,000 |
| Average Mortgage Loan Application Amount | $367,956 |
| Highest Mortgage Loan Application Amount | $1,850,000 |
| Average Applicant Income | $143,556 |
| Highest Applicant Income | $883,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Potomac Bank of Virginia filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Fairfax, Virginia | 49 | $ 21,223,000 | $ 433,122 | $ 141,000 |
| Loudoun, Virginia | 17 | $ 4,970,000 | $ 292,352 | $ 113,000 |
| Arlington, Virginia | 13 | $ 4,683,000 | $ 360,230 | $ 177,000 |
| Alexandria, Virginia | 9 | $ 2,492,000 | $ 276,888 | $ 158,000 |
| Fairfax City, Virginia | 7 | $ 4,491,000 | $ 641,571 | $ 147,000 |
| Prince William, Virginia | 5 | $ 1,171,000 | $ 234,200 | $ 72,000 |
| Stafford, Virginia | 4 | $ 1,170,000 | $ 292,500 | $ 276,000 |
| Lee, Florida | 2 | $ 396,000 | $ 198,000 | $ 45,000 |
| Glynn, Georgia | 2 | $ 155,000 | $ 77,500 | $ 195,000 |
| Washington, Pennsylvania | 2 | $ 234,000 | $ 117,000 | $ 95,000 |
| Manassas, Virginia | 2 | $ 338,000 | $ 169,000 | $ 57,000 |
| Spotsylvania, Virginia | 2 | $ 839,000 | $ 419,500 | $ 178,000 |
| San Francisco, California | 1 | $ 617,000 | $ 617,000 | $ 194,000 |
| Windham, Connecticut | 1 | $ 152,000 | $ 152,000 | $ 87,000 |
| Sussex, Delaware | 1 | $ 600,000 | $ 600,000 | $ 200,000 |
| District of Columbia, District Of Columbia | 1 | $ 150,000 | $ 150,000 | $ 105,000 |
| Bannock, Idaho | 1 | $ 110,000 | $ 110,000 | $ 84,000 |
| Cook, Illinois | 1 | $ 516,000 | $ 516,000 | $ 280,000 |
| Calvert, Maryland | 1 | $ 222,000 | $ 222,000 | $ 74,000 |
| Montgomery, Maryland | 1 | $ 280,000 | $ 280,000 | $ 118,000 |
| Norfolk, Massachusetts | 1 | $ 725,000 | $ 725,000 | $ 312,000 |
| Currituck, North Carolina | 1 | $ 288,000 | $ 288,000 | $ 77,000 |
| Dare, North Carolina | 1 | $ 1,000,000 | $ 1,000,000 | $ 296,000 |
| Mecklenburg, North Carolina | 1 | $ 250,000 | $ 250,000 | $ 81,000 |
| Lorain, Ohio | 1 | $ 246,000 | $ 246,000 | $ 564,000 |
| Summit, Ohio | 1 | $ 1,850,000 | $ 1,850,000 | $ 544,000 |
| Franklin, Pennsylvania | 1 | $ 48,000 | $ 48,000 | $ 231,000 |
| Charlottesville, Virginia | 1 | $ 102,000 | $ 102,000 | $ 0 |
| Clarke, Virginia | 1 | $ 204,000 | $ 204,000 | $ 73,000 |
| Falls Church, Virginia | 1 | $ 568,000 | $ 568,000 | $ 174,000 |
| Fauquier, Virginia | 1 | $ 288,000 | $ 288,000 | $ 60,000 |
| Frederick, Virginia | 1 | $ 135,000 | $ 135,000 | $ 84,000 |
| Northumberland, Virginia | 1 | $ 170,000 | $ 170,000 | $ 116,000 |
| Rappahannock, Virginia | 1 | $ 300,000 | $ 300,000 | $ 465,000 |
| Roanoke, Virginia | 1 | $ 114,000 | $ 114,000 | $ 41,000 |
| Virginia Beach, Virginia | 1 | $ 141,000 | $ 141,000 | $ 50,000 |
| Warren, Virginia | 1 | $ 176,000 | $ 176,000 | $ 73,000 |
Mortgage Loan Application Detail Totals for Potomac Bank of Virginia in 2004
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 | 85 | $28,015,000 | $330,900 | $1,538,000 | $146,700 | $883,000 |
| Refinancing | 75 | $30,858,000 | $397,375 | $1,850,000 | $191,250 | $863,000 |
| Home Improvement | 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 | 121 | $44,573,000 | $281,923 | $1,800,000 | $139,769 | $883,000 |
| Not Provided | 21 | $9,037,000 | $561,166 | $1,850,000 | $194,166 | $564,000 |
| Asian | 5 | $1,281,000 | $256,000 | $387,000 | $66,000 | $91,000 |
| Hispanic | 5 | $1,236,000 | $247,000 | $300,000 | $91,000 | $122,000 |
| Black or African American | 3 | $813,000 | $271,000 | $480,000 | $92,000 | $99,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $1,034,000 | $517,000 | $800,000 | $25,000 | $38,000 |
| American Indian or Alaskan Native | 2 | $797,000 | $398,000 | $464,000 | $135,000 | $166,000 |
| Not applicable | 1 | $102,000 | $102,000 | $102,000 | $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) | 160 | $58,873,000 | $378,062 | $1,850,000 | $168,500 | $883,000 |
| 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 | 106 | $33,729,000 | $250,100 | $1,800,000 | $134,300 | $883,000 |
| Application Withdrawn By Applicant | 48 | $23,142,000 | $556,333 | $1,850,000 | $191,000 | $544,000 |
| Application Approved But Not Accepted | 4 | $1,156,000 | $234,000 | $570,000 | $88,500 | $222,000 |
| Application Denied By Financial Institution | 1 | $246,000 | $246,000 | $246,000 | $564,000 | $564,000 |
| Preapproval Approved but not Accepted | 1 | $600,000 | $600,000 | $600,000 | $142,000 | $142,000 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Collateral | 1 | $246,000 | $246,000 | $246,000 | $564,000 | $564,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Potomac Bank of Virginia's 2004 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 Potomac Bank of Virginia'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 Virginia, download the full spreadsheet
with aggregated HMDA statistics today.
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