Volt Credit Union Mortgage Lending & HMDA Data, 2023
In 2023, Volt Credit Union of Springfield, MO reported 37 mortgage applications totaling $7.1 million. The average application was for $192,837, and applicants reported an average income of $77,972. 19% of its applications resulted in an originated loan and 32% were denied. Its largest market was Springfield, MO (16).
| Mortgage Company & Address | Volt Credit Union 2624 W Republic Rd Springfield, MO 65807 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2023 |
| Total Number of Mortgage Applications | 37 |
| Total Mortgage Loan Application Amount | $7,135,000 |
| Average Mortgage Loan Application Amount | $192,837 |
| Highest Mortgage Loan Application Amount | $805,000 |
| Average Applicant Income | $77,972 |
| Highest Applicant Income | $420,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Volt Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Volt 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 Purchase | 29 | $6,065,000 | $209,000 | $805,000 | $85,000 | $420,000 |
| Cash-out Refinancing | 6 | $790,000 | $131,000 | $215,000 | $49,000 | $65,000 |
| Refinancing | 2 | $280,000 | $140,000 | $165,000 | $63,000 | $73,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 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 | $7,135,000 | $192,000 | $805,000 | $78,000 | $420,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 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) | 31 | $6,045,000 | $195,000 | $805,000 | $85,000 | $420,000 |
| FHA-insured (Federal Housing Administration) | 4 | $760,000 | $190,000 | $225,000 | $34,000 | $60,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 2 | $330,000 | $165,000 | $165,000 | $48,000 | $49,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 12 | $2,410,000 | $200,000 | $475,000 | $71,000 | $162,000 |
| Application Withdrawn By Applicant | 8 | $2,010,000 | $251,000 | $805,000 | $100,000 | $420,000 |
| Loan Originated | 7 | $895,000 | $127,000 | $245,000 | $73,000 | $119,000 |
| File Closed For Incompleteness | 4 | $940,000 | $235,000 | $275,000 | $106,000 | $263,000 |
| Application Approved But Not Accepted | 3 | $515,000 | $171,000 | $175,000 | $56,000 | $71,000 |
| Preapproval Approved but not Accepted | 2 | $220,000 | $110,000 | $165,000 | $46,000 | $56,000 |
| Preapproval Denied by Financial Institution | 1 | $145,000 | $145,000 | $145,000 | $30,000 | $30,000 |
| 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 | 24 | $4,580,000 | $190,000 | $805,000 | $83,000 | $420,000 |
| Credit History | 8 | $1,130,000 | $141,000 | $215,000 | $70,000 | $162,000 |
| Debt-To-Income Ratio | 3 | $925,000 | $308,000 | $475,000 | $65,000 | $95,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $500,000 | $250,000 | $275,000 | $62,000 | $64,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 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 Volt 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 Volt 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.
For a list of all lenders in Missouri, download the full spreadsheet
with aggregated HMDA statistics today.
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