United Business & Industry FCU Mortgage Lending & HMDA Data, 2024
In 2024, United Business & Industry FCU of Plainville, CT reported 39 mortgage applications totaling $2.7 million, down 25% from 2023. The average application was for $70,128, and applicants reported an average income of $139,410. 79% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Hartford-West Hartford-East Hartford, CT (30) and Waterbury-Shelton, CT (6).
| 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 | 39 |
| Total Mortgage Loan Application Amount | $2,735,000 |
| Average Mortgage Loan Application Amount | $70,128 |
| Highest Mortgage Loan Application Amount | $225,000 |
| Average Applicant Income | $139,410 |
| Highest Applicant Income | $1,092,000 |
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records United Business & Industry FCU filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Hartford-West Hartford-East Hartford, CT | 30 | $ 2,370,000 | $ 79,000 | $ 116,000 |
| Waterbury-Shelton, CT | 6 | $ 290,000 | $ 48,333 | $ 106,000 |
| Outside any metro area | 3 | $ 75,000 | $ 25,000 | $ 441,000 |
Mortgage Loan Application Detail Totals for United Business & Industry FCU in 2024
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 | 16 | $800,000 | $50,000 | $175,000 | $109,000 | $214,000 |
| Other Purpose | 12 | $820,000 | $68,000 | $145,000 | $220,000 | $1,092,000 |
| Refinancing | 10 | $1,050,000 | $105,000 | $225,000 | $90,000 | $246,000 |
| Home Purchase | 1 | $65,000 | $65,000 | $65,000 | $153,000 | $153,000 |
| 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 | 27 | $1,985,000 | $73,000 | $205,000 | $110,000 | $214,000 |
| Hispanic | 7 | $315,000 | $45,000 | $105,000 | $270,000 | $1,092,000 |
| Black or African American | 2 | $150,000 | $75,000 | $105,000 | $56,000 | $70,000 |
| American Indian or Alaskan Native | 2 | $240,000 | $120,000 | $225,000 | $164,000 | $246,000 |
| Asian | 1 | $45,000 | $45,000 | $45,000 | $118,000 | $118,000 |
| 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) | 39 | $2,735,000 | $70,000 | $225,000 | $139,000 | $1,092,000 |
| 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 | 31 | $2,205,000 | $71,000 | $225,000 | $116,000 | $482,000 |
| Application Denied By Financial Institution | 5 | $275,000 | $55,000 | $145,000 | $281,000 | $1,092,000 |
| Application Withdrawn By Applicant | 3 | $255,000 | $85,000 | $175,000 | $139,000 | $178,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 | 34 | $2,460,000 | $72,000 | $225,000 | $118,000 | $482,000 |
| Credit History | 2 | $180,000 | $90,000 | $145,000 | $96,000 | $168,000 |
| Debt-To-Income Ratio | 2 | $80,000 | $40,000 | $65,000 | $62,000 | $83,000 |
| Other | 1 | $15,000 | $15,000 | $15,000 | $1,092,000 | $1,092,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into United Business & Industry FCU's 2024 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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