United Business & Industry FCU Mortgage Lending & HMDA Data, 2023
In 2023, United Business & Industry FCU of Plainville, CT reported 52 mortgage applications totaling $4.6 million. The average application was for $88,269, and applicants reported an average income of $98,000. 87% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Hartford-West Hartford-East Hartford, CT (47) and New Haven-Milford, CT (3).
| Mortgage Company & Address | United Business & Industry FCU 120 Woodford Ave Plainville, CT 06062 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 |
| Total Number of Mortgage Applications | 52 |
| Total Mortgage Loan Application Amount | $4,590,000 |
| Average Mortgage Loan Application Amount | $88,269 |
| Highest Mortgage Loan Application Amount | $285,000 |
| Average Applicant Income | $98,000 |
| Highest Applicant Income | $290,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records United Business & Industry FCU filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Hartford, Connecticut | 44 | $ 3,930,000 | $ 89,318 | $ 90,000 |
| New Haven, Connecticut | 3 | $ 195,000 | $ 65,000 | $ 113,000 |
| Middlesex, Connecticut | 2 | $ 110,000 | $ 55,000 | $ 176,000 |
| Tolland, Connecticut | 1 | $ 115,000 | $ 115,000 | $ 157,000 |
Mortgage Loan Application Detail Totals for United Business & Industry FCU 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 | 25 | $1,555,000 | $62,000 | $205,000 | $94,000 | $290,000 |
| Refinancing | 15 | $2,135,000 | $142,000 | $285,000 | $108,000 | $201,000 |
| Other Purpose | 10 | $660,000 | $66,000 | $145,000 | $85,000 | $180,000 |
| Home Purchase | 2 | $240,000 | $120,000 | $135,000 | $138,000 | $210,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Cash-out Refinancing | 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 | 40 | $3,120,000 | $78,000 | $235,000 | $92,000 | $290,000 |
| Hispanic | 8 | $1,100,000 | $137,000 | $285,000 | $115,000 | $210,000 |
| Asian | 2 | $160,000 | $80,000 | $95,000 | $165,000 | $180,000 |
| Black or African American | 2 | $210,000 | $105,000 | $125,000 | $87,000 | $132,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 52 | $4,590,000 | $88,000 | $285,000 | $98,000 | $290,000 |
| 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 | 45 | $3,825,000 | $85,000 | $285,000 | $96,000 | $290,000 |
| Application Withdrawn By Applicant | 5 | $625,000 | $125,000 | $205,000 | $112,000 | $210,000 |
| Application Denied By Financial Institution | 2 | $140,000 | $70,000 | $105,000 | $117,000 | $210,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $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 |
|---|---|---|---|---|---|---|
| Not applicable | 50 | $4,450,000 | $89,000 | $285,000 | $97,000 | $290,000 |
| Other | 1 | $105,000 | $105,000 | $105,000 | $210,000 | $210,000 |
| Credit History | 1 | $35,000 | $35,000 | $35,000 | $24,000 | $24,000 |
| 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 |
| 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 United Business & Industry FCU'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 United Business & Industry FCU'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 Connecticut, download the full spreadsheet
with aggregated HMDA statistics today.
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