Total Community Credit Union Mortgage Lending & HMDA Data, 2023
In 2023, Total Community Credit Union of Taylor, MI reported 43 mortgage applications totaling $3.5 million, down 4% from 2022. The average application was for $81,279, and applicants reported an average income of $79,093. 60% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Detroit-Dearborn-Livonia, MI (34) and Monroe, MI (3).
| Mortgage Company & Address | Total Community Credit Union 25155 Goddard Rd Taylor, MI 48181 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2023 2022 2019 |
| Total Number of Mortgage Applications | 43 |
| Total Mortgage Loan Application Amount | $3,495,000 |
| Average Mortgage Loan Application Amount | $81,279 |
| Highest Mortgage Loan Application Amount | $295,000 |
| Average Applicant Income | $79,093 |
| Highest Applicant Income | $199,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Total Community Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Total Community 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 Improvement | 10 | $430,000 | $43,000 | $65,000 | $89,000 | $151,000 |
| Other Purpose | 10 | $390,000 | $39,000 | $55,000 | $103,000 | $199,000 |
| Home Purchase | 9 | $1,345,000 | $149,000 | $295,000 | $71,000 | $166,000 |
| Cash-out Refinancing | 8 | $770,000 | $96,000 | $135,000 | $46,000 | $87,000 |
| Refinancing | 6 | $560,000 | $93,000 | $135,000 | $79,000 | $160,000 |
| 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 | 37 | $3,145,000 | $85,000 | $295,000 | $84,000 | $199,000 |
| Not Provided | 3 | $115,000 | $38,000 | $55,000 | $51,000 | $64,000 |
| Black or African American | 2 | $200,000 | $100,000 | $155,000 | $53,000 | $53,000 |
| Hispanic | 1 | $35,000 | $35,000 | $35,000 | $24,000 | $24,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 43 | $3,495,000 | $81,000 | $295,000 | $79,000 | $199,000 |
| 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 | 26 | $1,670,000 | $64,000 | $135,000 | $79,000 | $168,000 |
| Application Denied By Financial Institution | 6 | $680,000 | $113,000 | $295,000 | $64,000 | $166,000 |
| File Closed For Incompleteness | 4 | $250,000 | $62,000 | $105,000 | $116,000 | $199,000 |
| Preapproval Denied by Financial Institution | 3 | $245,000 | $81,000 | $105,000 | $57,000 | $66,000 |
| Preapproval Approved but not Accepted | 2 | $320,000 | $160,000 | $175,000 | $54,000 | $66,000 |
| Application Withdrawn By Applicant | 2 | $330,000 | $165,000 | $195,000 | $120,000 | $160,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Not applicable | 34 | $2,570,000 | $75,000 | $195,000 | $83,000 | $199,000 |
| Debt-To-Income Ratio | 5 | $435,000 | $87,000 | $155,000 | $48,000 | $66,000 |
| Credit History | 4 | $490,000 | $122,000 | $295,000 | $84,000 | $166,000 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Total Community 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 Total Community 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.
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