Sturgis Bank & Trust Mortgage Lending & HMDA Data, 2003
In 2003, Sturgis Bank & Trust of Sturgis, MI reported 182 mortgage applications totaling $5.1 million. The average application was for $28,082, and applicants reported an average income of $36,329. 92% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Kalamazoo-Battle Creek, MI (10) and Grand Rapids-Muskegon-Holland, MI (2).
| Mortgage Company & Address | Sturgis Bank & Trust 113-125 E Chicago Rd Sturgis, MI 49091 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 | 182 |
| Total Mortgage Loan Application Amount | $5,111,000 |
| Average Mortgage Loan Application Amount | $28,082 |
| Highest Mortgage Loan Application Amount | $203,000 |
| Average Applicant Income | $36,329 |
| Highest Applicant Income | $356,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Sturgis Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Kalamazoo-Battle Creek, MI | 10 | $ 637,000 | $ 63,700 | $ 50,000 |
| Grand Rapids-Muskegon-Holland, MI | 2 | $ 101,000 | $ 50,500 | $ 9,000 |
Mortgage Loan Application Detail Totals for Sturgis Bank & Trust in 2003
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 |
|---|---|---|---|---|---|---|
| Refinancing (home purchase or home improvement, one-to-four family) | 118 | $3,729,000 | $31,000 | $197,000 | $34,000 | $356,000 |
| Home Improvement (one-to-four family) | 39 | $543,000 | $13,000 | $125,000 | $48,000 | $278,000 |
| Home Purchase (one-to-four family) | 25 | $839,000 | $21,500 | $203,000 | $30,500 | $80,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 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 | 149 | $4,086,000 | $27,000 | $197,000 | $45,000 | $356,000 |
| Not applicable | 19 | $627,000 | $33,000 | $100,000 | $0 | $0 |
| Hispanic | 12 | $392,000 | $21,500 | $203,000 | $36,500 | $80,000 |
| Black | 2 | $6,000 | $3,000 | $5,000 | $39,000 | $59,000 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Information not provided by applicant in mail or telephone application | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian or 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) | 182 | $5,111,000 | $18,500 | $203,000 | $35,000 | $356,000 |
| 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 | 168 | $4,974,000 | $29,000 | $203,000 | $43,000 | $356,000 |
| Application Denied By Financial Institution | 12 | $98,000 | $8,500 | $16,000 | $29,000 | $49,000 |
| Application Withdrawn By Applicant | 2 | $39,000 | $19,000 | $22,000 | $41,000 | $48,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Credit History | 8 | $71,000 | $8,500 | $16,000 | $29,000 | $49,000 |
| Other | 2 | $18,000 | $9,000 | $11,000 | $32,000 | $39,000 |
| Collateral | 1 | $4,000 | $4,000 | $4,000 | $33,000 | $33,000 |
| Debt-To-Income Ratio | 1 | $5,000 | $5,000 | $5,000 | $19,000 | $19,000 |
| 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 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Sturgis Bank & Trust's 2003 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 Sturgis Bank & Trust'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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with aggregated HMDA statistics today.
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