Proper Rate, LLC Mortgage Lending & HMDA Data, 2022
In 2022, Proper Rate, LLC of Chicago, IL reported 2,928 mortgage applications totaling $1.2 billion, down 47% from 2021. The average application was for $419,409, and applicants reported an average income of $192,265. 67% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Chicago-Naperville, IL (2,008), Lake County-Kenosha County, IL-WI (272) and Elgin, IL (100) (applications in parentheses).
| Mortgage Company & Address | Proper Rate, LLC 1800 W Larchmont Ave Chicago, IL 60613 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 |
| Total Number of Mortgage Applications | 2,928 |
| Total Mortgage Loan Application Amount | $1,228,030,000 |
| Average Mortgage Loan Application Amount | $419,409 |
| Highest Mortgage Loan Application Amount | $2,965,000 |
| Average Applicant Income | $192,265 |
| Highest Applicant Income | $4,630,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Proper Rate, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Chicago-Naperville, IL | 2,008 | $ 864,750,000 | $ 430,652 | $ 188,000 |
| Lake County-Kenosha County, IL-WI | 272 | $ 110,950,000 | $ 407,904 | $ 190,132 |
| Elgin, IL | 100 | $ 31,310,000 | $ 313,100 | $ 149,000 |
| Gary, IN | 94 | $ 24,360,000 | $ 259,148 | $ 101,000 |
| Outside any metro area | 68 | $ 24,640,000 | $ 362,352 | $ 194,691 |
| Niles-Benton Harbor, MI | 57 | $ 18,745,000 | $ 328,859 | $ 168,000 |
| Denver-Aurora-Lakewood, CO | 37 | $ 21,815,000 | $ 589,594 | $ 224,000 |
| Michigan City-La Porte, IN | 23 | $ 7,135,000 | $ 310,217 | $ 145,000 |
| Milwaukee-Waukesha-West Allis, WI | 18 | $ 6,730,000 | $ 373,888 | $ 207,000 |
| Dallas-Plano-Irving, TX | 16 | $ 3,210,000 | $ 200,625 | $ 132,000 |
| Indianapolis-Carmel-Anderson, IN | 12 | $ 5,700,000 | $ 475,000 | $ 170,000 |
| Phoenix-Mesa-Scottsdale, AZ | 11 | $ 9,125,000 | $ 829,545 | $ 1,860,000 |
| Atlanta-Sandy Springs-Roswell, GA | 10 | $ 7,390,000 | $ 739,000 | $ 308,000 |
| Tampa-St. Petersburg-Clearwater, FL | 10 | $ 4,820,000 | $ 482,000 | $ 161,000 |
| Houston-The Woodlands-Sugar Land, TX | 9 | $ 3,415,000 | $ 379,444 | $ 175,000 |
| Cincinnati, OH-KY-IN | 8 | $ 1,520,000 | $ 190,000 | $ 190,000 |
| North Port-Sarasota-Bradenton, FL | 6 | $ 2,230,000 | $ 371,666 | $ 225,000 |
| Austin-Round Rock, TX | 5 | $ 2,505,000 | $ 501,000 | $ 205,000 |
| Cape Coral-Fort Myers, FL | 5 | $ 2,245,000 | $ 449,000 | $ 324,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 5 | $ 2,945,000 | $ 589,000 | $ 228,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 5 | $ 2,345,000 | $ 469,000 | $ 154,000 |
| Orlando-Kissimmee-Sanford, FL | 5 | $ 3,545,000 | $ 709,000 | $ 251,000 |
| Rockford, IL | 5 | $ 1,455,000 | $ 291,000 | $ 167,000 |
| Savannah, GA | 5 | $ 1,565,000 | $ 313,000 | $ 270,000 |
| Homosassa Springs, FL | 4 | $ 1,070,000 | $ 267,500 | $ 143,000 |
| Knoxville, TN | 4 | $ 1,320,000 | $ 330,000 | $ 123,000 |
| Naples-Immokalee-Marco Island, FL | 4 | $ 2,360,000 | $ 590,000 | $ 476,000 |
| Riverside-San Bernardino-Ontario, CA | 4 | $ 1,980,000 | $ 495,000 | $ 197,000 |
| St. Louis, MO-IL | 4 | $ 2,360,000 | $ 590,000 | $ 279,750 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 4 | $ 3,560,000 | $ 890,000 | $ 515,000 |
| Boulder, CO | 3 | $ 2,675,000 | $ 891,666 | $ 319,000 |
| Charlotte-Concord-Gastonia, NC-SC | 3 | $ 2,975,000 | $ 991,666 | $ 345,333 |
| Crestview-Fort Walton Beach-Destin, FL | 3 | $ 2,415,000 | $ 805,000 | $ 304,000 |
| Davenport-Moline-Rock Island, IA-IL | 3 | $ 855,000 | $ 285,000 | $ 205,333 |
| Fort Collins, CO | 3 | $ 1,055,000 | $ 351,666 | $ 100,000 |
| Grand Rapids-Wyoming, MI | 3 | $ 1,385,000 | $ 461,666 | $ 253,000 |
| Los Angeles-Long Beach-Glendale, CA | 3 | $ 2,085,000 | $ 695,000 | $ 173,000 |
| Ocala, FL | 3 | $ 945,000 | $ 315,000 | $ 101,000 |
| Peoria, IL | 3 | $ 755,000 | $ 251,666 | $ 210,000 |
| San Diego-Carlsbad, CA | 3 | $ 2,735,000 | $ 911,666 | $ 350,000 |
| Sheboygan, WI | 3 | $ 2,495,000 | $ 831,666 | $ 431,000 |
| South Bend-Mishawaka, IN-MI | 3 | $ 1,325,000 | $ 441,666 | $ 287,000 |
| Ann Arbor, MI | 2 | $ 580,000 | $ 290,000 | $ 144,000 |
| Asheville, NC | 2 | $ 740,000 | $ 370,000 | $ 383,000 |
| Bloomington, IL | 2 | $ 570,000 | $ 285,000 | $ 106,000 |
| Charleston-North Charleston, SC | 2 | $ 1,620,000 | $ 810,000 | $ 206,000 |
| Cleveland-Elyria, OH | 2 | $ 920,000 | $ 460,000 | $ 216,000 |
| Corpus Christi, TX | 2 | $ 260,000 | $ 130,000 | $ 89,000 |
| Detroit-Dearborn-Livonia, MI | 2 | $ 590,000 | $ 295,000 | $ 195,000 |
| Fort Worth-Arlington, TX | 2 | $ 1,640,000 | $ 820,000 | $ 328,000 |
| Greenville-Anderson-Mauldin, SC | 2 | $ 310,000 | $ 155,000 | $ 31,000 |
| Kalamazoo-Portage, MI | 2 | $ 730,000 | $ 365,000 | $ 157,000 |
| Madison, WI | 2 | $ 680,000 | $ 340,000 | $ 152,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 2 | $ 690,000 | $ 345,000 | $ 102,000 |
| Port St. Lucie, FL | 2 | $ 2,420,000 | $ 1,210,000 | $ 422,000 |
| Punta Gorda, FL | 2 | $ 910,000 | $ 455,000 | $ 235,000 |
| Racine, WI | 2 | $ 350,000 | $ 175,000 | $ 78,000 |
| Tucson, AZ | 2 | $ 420,000 | $ 210,000 | $ 301,000 |
| Valdosta, GA | 2 | $ 880,000 | $ 440,000 | $ 114,000 |
| Warren-Troy-Farmington Hills, MI | 2 | $ 790,000 | $ 395,000 | $ 158,000 |
| Amarillo, TX | 1 | $ 245,000 | $ 245,000 | $ 46,000 |
| Anaheim-Santa Ana-Irvine, CA | 1 | $ 975,000 | $ 975,000 | $ 477,000 |
| Appleton, WI | 1 | $ 265,000 | $ 265,000 | $ 88,000 |
| Chattanooga, TN-GA | 1 | $ 405,000 | $ 405,000 | $ 91,000 |
| Colorado Springs, CO | 1 | $ 365,000 | $ 365,000 | $ 75,000 |
| Columbia, SC | 1 | $ 315,000 | $ 315,000 | $ 138,000 |
| Columbus, IN | 1 | $ 225,000 | $ 225,000 | $ 232,000 |
| Columbus, OH | 1 | $ 585,000 | $ 585,000 | $ 275,000 |
| Decatur, IL | 1 | $ 145,000 | $ 145,000 | $ 91,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 1 | $ 245,000 | $ 245,000 | $ 242,000 |
| Durham-Chapel Hill, NC | 1 | $ 405,000 | $ 405,000 | $ 160,000 |
| Fort Wayne, IN | 1 | $ 75,000 | $ 75,000 | $ 101,000 |
| Gainesville, GA | 1 | $ 245,000 | $ 245,000 | $ 68,000 |
| Green Bay, WI | 1 | $ 185,000 | $ 185,000 | $ 60,000 |
| Jacksonville, FL | 1 | $ 455,000 | $ 455,000 | $ 237,000 |
| Jacksonville, NC | 1 | $ 165,000 | $ 165,000 | $ 49,000 |
| Kansas City, MO-KS | 1 | $ 645,000 | $ 645,000 | $ 250,000 |
| Lakeland-Winter Haven, FL | 1 | $ 335,000 | $ 335,000 | $ 112,000 |
| Macon-Bibb County, GA | 1 | $ 95,000 | $ 95,000 | $ 21,000 |
| Memphis, TN-MS-AR | 1 | $ 445,000 | $ 445,000 | $ 180,000 |
| Muskegon, MI | 1 | $ 295,000 | $ 295,000 | $ 121,000 |
| Myrtle Beach-Conway-North Myrtle Beach, SC-NC | 1 | $ 425,000 | $ 425,000 | $ 173,000 |
| New Bern, NC | 1 | $ 155,000 | $ 155,000 | $ 39,000 |
| Oakland-Hayward-Berkeley, CA | 1 | $ 615,000 | $ 615,000 | $ 303,000 |
| Oxnard-Thousand Oaks-Ventura, CA | 1 | $ 175,000 | $ 175,000 | $ 82,000 |
| Palm Bay-Melbourne-Titusville, FL | 1 | $ 645,000 | $ 645,000 | $ 201,000 |
| Rochester, MN | 1 | $ 175,000 | $ 175,000 | $ 34,000 |
| San Antonio-New Braunfels, TX | 1 | $ 165,000 | $ 165,000 | $ 0 |
| San Jose-Sunnyvale-Santa Clara, CA | 1 | $ 645,000 | $ 645,000 | $ 244,000 |
| San Rafael, CA | 1 | $ 1,745,000 | $ 1,745,000 | $ 462,000 |
| Sherman-Denison, TX | 1 | $ 285,000 | $ 285,000 | $ 93,000 |
| Springfield, IL | 1 | $ 245,000 | $ 245,000 | $ 205,000 |
| Tallahassee, FL | 1 | $ 275,000 | $ 275,000 | $ 68,000 |
| The Villages, FL | 1 | $ 425,000 | $ 425,000 | $ 156,000 |
| Topeka, KS | 1 | $ 315,000 | $ 315,000 | $ 77,000 |
| Tyler, TX | 1 | $ 105,000 | $ 105,000 | $ 61,000 |
Mortgage Loan Application Detail Totals for Proper Rate, 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 | 2,454 | $1,039,940,000 | $423,000 | $2,765,000 | $191,000 | $4,630,000 |
| Cash-out Refinancing | 247 | $95,465,000 | $386,000 | $2,965,000 | $206,000 | $4,630,000 |
| Refinancing | 227 | $92,625,000 | $408,000 | $1,805,000 | $191,000 | $902,000 |
| 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 | 2,086 | $889,190,000 | $426,000 | $2,965,000 | $197,000 | $4,630,000 |
| Not Provided | 334 | $148,920,000 | $445,000 | $2,645,000 | $198,000 | $1,480,000 |
| Hispanic | 180 | $56,750,000 | $315,000 | $1,255,000 | $142,000 | $721,000 |
| Asian | 167 | $72,665,000 | $435,000 | $1,925,000 | $194,000 | $916,000 |
| Black or African American | 98 | $33,650,000 | $343,000 | $2,285,000 | $143,000 | $686,000 |
| American Indian or Alaskan Native | 15 | $5,635,000 | $375,000 | $705,000 | $222,000 | $765,000 |
| Not applicable | 3 | $1,015,000 | $338,000 | $605,000 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 2,735 | $1,167,385,000 | $426,000 | $2,965,000 | $198,000 | $4,630,000 |
| FHA-insured (Federal Housing Administration) | 124 | $35,190,000 | $283,000 | $745,000 | $97,000 | $392,000 |
| VA-guaranteed (Veterans Administration) | 69 | $25,455,000 | $368,000 | $805,000 | $124,000 | $329,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 1,957 | $816,635,000 | $417,000 | $2,775,000 | $186,000 | $4,535,000 |
| Application Withdrawn By Applicant | 848 | $363,850,000 | $429,000 | $2,645,000 | $215,000 | $4,630,000 |
| Application Denied By Financial Institution | 88 | $31,490,000 | $357,000 | $2,405,000 | $128,000 | $673,000 |
| Application Approved But Not Accepted | 17 | $5,575,000 | $327,000 | $615,000 | $146,000 | $265,000 |
| File Closed For Incompleteness | 13 | $8,845,000 | $680,000 | $2,965,000 | $212,000 | $708,000 |
| Loan Purchased By The Institution | 3 | $1,015,000 | $338,000 | $605,000 | $0 | $0 |
| Preapproval Approved but not Accepted | 1 | $365,000 | $365,000 | $365,000 | $90,000 | $90,000 |
| Preapproval Denied by Financial Institution | 1 | $255,000 | $255,000 | $255,000 | $81,000 | $81,000 |
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 | 2,839 | $1,196,285,000 | $421,000 | $2,965,000 | $194,000 | $4,630,000 |
| Debt-To-Income Ratio | 40 | $14,790,000 | $369,000 | $2,405,000 | $108,000 | $673,000 |
| Collateral | 16 | $4,380,000 | $273,000 | $645,000 | $153,000 | $498,000 |
| Credit History | 16 | $5,230,000 | $326,000 | $1,395,000 | $140,000 | $523,000 |
| Unverifiable Information | 7 | $3,425,000 | $489,000 | $1,105,000 | $155,000 | $360,000 |
| Employment History | 5 | $1,935,000 | $387,000 | $755,000 | $121,000 | $232,000 |
| Other | 3 | $1,465,000 | $488,000 | $895,000 | $182,000 | $364,000 |
| Credit Application Incomplete | 1 | $145,000 | $145,000 | $145,000 | $45,000 | $45,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $375,000 | $375,000 | $375,000 | $113,000 | $113,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Proper Rate, 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 Proper Rate, 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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