The Freedom Bank of Virginia Mortgage Lending & HMDA Data, 2017
In 2017, The Freedom Bank of Virginia of Fairfax, VA reported 656 mortgage applications totaling $230.2 million, down 7% from 2016. The average application was for $350,847, and applicants reported an average income of $110,679. 89% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Washington-Arlington-Alexandria, DC-VA-MD-WV (568), Richmond, VA (16) and Silver Spring-Frederick-Rockville, MD (16) (applications in parentheses).
| Mortgage Company & Address | The Freedom Bank of Virginia 10555 Main Street Fairfax, VA 22030 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 |
| Total Number of Mortgage Applications | 656 |
| Total Mortgage Loan Application Amount | $230,156,000 |
| Average Mortgage Loan Application Amount | $350,847 |
| Highest Mortgage Loan Application Amount | $3,800,000 |
| Average Applicant Income | $110,679 |
| Highest Applicant Income | $809,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records The Freedom Bank of Virginia filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 568 | $ 200,527,000 | $ 353,040 | $ 109,218 |
| Richmond, VA | 16 | $ 3,157,000 | $ 197,312 | $ 101,000 |
| Silver Spring-Frederick-Rockville, MD | 16 | $ 7,405,000 | $ 462,812 | $ 113,000 |
| Baltimore-Columbia-Towson, MD | 5 | $ 1,722,000 | $ 344,400 | $ 151,000 |
| Raleigh, NC | 5 | $ 1,088,000 | $ 217,600 | $ 101,000 |
| Winchester, VA-WV | 4 | $ 1,133,000 | $ 283,250 | $ 84,000 |
| Myrtle Beach-Conway-North Myrtle Beach, SC-NC | 3 | $ 536,000 | $ 178,666 | $ 186,000 |
| Wilmington, NC | 3 | $ 392,000 | $ 130,666 | $ 172,000 |
| Atlanta-Sandy Springs-Roswell, GA | 2 | $ 524,000 | $ 262,000 | $ 65,000 |
| Fort Worth-Arlington, TX | 2 | $ 357,000 | $ 178,500 | $ 134,000 |
| Hagerstown-Martinsburg, MD-WV | 2 | $ 144,000 | $ 72,000 | $ 76,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 2 | $ 824,000 | $ 412,000 | $ 245,500 |
| Austin-Round Rock, TX | 1 | $ 133,000 | $ 133,000 | $ 127,000 |
| Blacksburg-Christiansburg-Radford, VA | 1 | $ 208,000 | $ 208,000 | $ 188,000 |
| Charlotte-Concord-Gastonia, NC-SC | 1 | $ 385,000 | $ 385,000 | $ 147,000 |
| Dutchess County-Putnam County, NY | 1 | $ 224,000 | $ 224,000 | $ 67,000 |
| Jacksonville, FL | 1 | $ 253,000 | $ 253,000 | $ 62,000 |
| Little Rock-North Little Rock-Conway, AR | 1 | $ 405,000 | $ 405,000 | $ 90,000 |
| Naples-Immokalee-Marco Island, FL | 1 | $ 3,800,000 | $ 3,800,000 | $ 0 |
| North Port-Sarasota-Bradenton, FL | 1 | $ 210,000 | $ 210,000 | $ 134,000 |
| Philadelphia, PA | 1 | $ 251,000 | $ 251,000 | $ 373,000 |
| Roanoke, VA | 1 | $ 933,000 | $ 933,000 | $ 229,000 |
| Savannah, GA | 1 | $ 177,000 | $ 177,000 | $ 50,000 |
| Seattle-Bellevue-Everett, WA | 1 | $ 473,000 | $ 473,000 | $ 100,000 |
| Sebastian-Vero Beach, FL | 1 | $ 167,000 | $ 167,000 | $ 94,000 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 1 | $ 281,000 | $ 281,000 | $ 428,000 |
Mortgage Loan Application Detail Totals for The Freedom Bank of Virginia in 2017
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 | 525 | $181,399,000 | $345,000 | $3,800,000 | $103,000 | $809,000 |
| Refinancing | 126 | $46,258,000 | $367,000 | $2,000,000 | $141,000 | $519,000 |
| Home Improvement | 5 | $2,499,000 | $499,000 | $1,150,000 | $153,000 | $360,000 |
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 | 324 | $109,035,000 | $336,000 | $2,000,000 | $130,000 | $809,000 |
| Not Provided | 96 | $36,104,000 | $376,000 | $1,150,000 | $141,000 | $659,000 |
| Not applicable | 64 | $34,214,000 | $534,000 | $3,800,000 | $0 | $0 |
| Black or African American | 60 | $17,806,000 | $296,000 | $1,000,000 | $110,000 | $516,000 |
| Asian | 59 | $18,880,000 | $320,000 | $900,000 | $94,000 | $255,000 |
| Hispanic | 50 | $13,228,000 | $264,000 | $621,000 | $95,000 | $386,000 |
| American Indian or Alaskan Native | 2 | $648,000 | $324,000 | $347,000 | $85,000 | $113,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $241,000 | $241,000 | $241,000 | $67,000 | $67,000 |
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) | 438 | $162,801,000 | $371,000 | $3,800,000 | $122,000 | $809,000 |
| FHA-insured (Federal Housing Administration) | 130 | $38,324,000 | $294,000 | $559,000 | $81,000 | $242,000 |
| VA-guaranteed (Veterans Administration) | 67 | $24,195,000 | $361,000 | $778,000 | $112,000 | $291,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 21 | $4,836,000 | $230,000 | $354,000 | $65,000 | $109,000 |
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 | 581 | $203,879,000 | $350,000 | $3,800,000 | $109,000 | $809,000 |
| Application Denied By Financial Institution | 53 | $17,460,000 | $329,000 | $888,000 | $119,000 | $370,000 |
| File Closed For Incompleteness | 14 | $6,355,000 | $453,000 | $945,000 | $213,000 | $606,000 |
| Application Approved But Not Accepted | 4 | $1,261,000 | $315,000 | $545,000 | $58,000 | $188,000 |
| Application Withdrawn By Applicant | 4 | $1,201,000 | $300,000 | $433,000 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 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 Application Incomplete | 32 | $10,234,000 | $319,000 | $888,000 | $121,000 | $370,000 |
| Debt-To-Income Ratio | 8 | $3,202,000 | $400,000 | $840,000 | $116,000 | $193,000 |
| Credit History | 4 | $1,044,000 | $261,000 | $365,000 | $66,000 | $105,000 |
| Collateral | 4 | $1,083,000 | $270,000 | $424,000 | $127,000 | $216,000 |
| Unverifiable Information | 3 | $1,108,000 | $369,000 | $550,000 | $147,000 | $290,000 |
| Other | 1 | $417,000 | $417,000 | $417,000 | $138,000 | $138,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $372,000 | $372,000 | $372,000 | $165,000 | $165,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into The Freedom Bank of Virginia's 2017 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 The Freedom 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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