Xcel Federal Credit Union
HMDA Loan Application Totals
and Mortgage Lending Details
for 2023
Xcel Federal Credit Union 2023 HMDA loan application data provides key insights into its mortgage lending trends, applicant demographics, and loan distribution.
The Home Mortgage Disclosure Act (HMDA) requires lenders to report detailed loan application data, offering transparency into lending patterns.
The data reveals trends in average loan size, applicant income, and mortgage approval rates, helping consumers and analysts understand lending accessibility.
Below, explore a breakdown of loan applications by county, metro area, loan purpose, applicant race, loan type, and more.
Whether you're an industry professional, homebuyer, or researcher,
this information provides valuable insights into mortgage lending activity.
Scroll down to view the full dataset and analyze lending trends in greater detail.
| Mortgage Company & Address | Xcel Federal Credit Union 1460 Broad Street Bloomfield, NJ 07003 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2023 |
| Total Number of Mortgage Applications | 70 |
| Total Mortgage Loan Application Amount | $6,450,000 |
| Average Mortgage Loan Application Amount | $71,250 |
| Highest Mortgage Loan Application Amount | $605,000 |
| Average Applicant Income | $68,500 |
| Highest Applicant Income | $419,000 |
Explore comprehensive HMDA mortgage statistics and lending trends for 2023 with Xcel Federal Credit Union. Below, you'll find key insights into this lender's mortgage activity, including total loan applications, average mortgage amounts, highest application values, and income levels of top applicants. Whether you're analyzing Xcel Federal Credit Union's lending patterns or researching mortgage trends, these statistics provide valuable transparency into their loan activity.
Our HMDA dataset for 2023 breaks down Xcel Federal Credit Union's mortgage applications by loan purpose, applicant race, loan type, approval outcomes, and reasons for denial. These insights help homebuyers, financial analysts, and industry professionals assess borrower demographics and lending practices, offering a clearer view of how Xcel Federal Credit Union serves its applicants.
Each category highlights the total number of mortgage applications processed by Xcel Federal Credit Union, total loan amounts, average mortgage values, and the highest mortgage amounts recorded. You can also review borrower income trends, including the average and highest reported applicant incomes for loans issued by this lender. Whether you're evaluating lender performance, comparing mortgage approval rates, or exploring loan options, this HMDA-backed data offers a crucial look at Xcel Federal Credit Union's mortgage activity for 2023.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Essex County New Jersey | 12 | $ 1,010,000 | $ 84,000 | $ 168,000 |
| Hudson County New Jersey | 8 | $ 980,000 | $ 122,000 | $ 159,000 |
| Nassau County New York | 6 | $ 690,000 | $ 115,000 | $ 145,000 |
| Ocean County New Jersey | 5 | $ 455,000 | $ 91,000 | $ 80,000 |
| Union County New Jersey | 4 | $ 200,000 | $ 50,000 | $ 133,000 |
| Kings County New York | 4 | $ 170,000 | $ 42,000 | $ 124,000 |
| Broward County Florida | 3 | $ 235,000 | $ 78,000 | $ 143,000 |
| Middlesex County New Jersey | 3 | $ 155,000 | $ 51,000 | $ 152,000 |
| Queens County New York | 3 | $ 815,000 | $ 271,000 | $ 55,000 |
| Morris County New Jersey | 2 | $ 190,000 | $ 95,000 | $ 98,000 |
| Passaic County New Jersey | 2 | $ 120,000 | $ 60,000 | $ 220,000 |
| Suffolk County New York | 2 | $ 260,000 | $ 130,000 | $ 114,000 |
| Jefferson County Colorado | 1 | $ 65,000 | $ 65,000 | $ 121,000 |
| New London County Connecticut | 1 | $ 135,000 | $ 135,000 | $ 289,000 |
| Bergen County New Jersey | 1 | $ 65,000 | $ 65,000 | $ 122,000 |
| Mercer County New Jersey | 1 | $ 135,000 | $ 135,000 | $ 135,000 |
| Monmouth County New Jersey | 1 | $ 45,000 | $ 45,000 | $ 218,000 |
| Bronx County New York | 1 | $ 45,000 | $ 45,000 | $ 43,000 |
| Columbia County New York | 1 | $ 55,000 | $ 55,000 | $ 88,000 |
| Dutchess County New York | 1 | $ 65,000 | $ 65,000 | $ 60,000 |
| Monroe County New York | 1 | $ 45,000 | $ 45,000 | $ 87,000 |
| Orange County New York | 1 | $ 45,000 | $ 45,000 | $ 185,000 |
| Rockland County New York | 1 | $ 25,000 | $ 25,000 | $ 240,000 |
| Sullivan County New York | 1 | $ 35,000 | $ 35,000 | $ 65,000 |
| Westchester County New York | 1 | $ 65,000 | $ 65,000 | $ 342,000 |
| Montgomery County Pennsylvania | 1 | $ 105,000 | $ 105,000 | $ 80,000 |
| Pike County Pennsylvania | 1 | $ 85,000 | $ 85,000 | $ 52,000 |
| Danville County Virginia | 1 | $ 155,000 | $ 155,000 | $ 12,000 |
Mortgage Loan Application Detail Totals for Xcel Federal 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 |
|---|---|---|---|---|---|---|
| Other Purpose | 35 | $3,865,000 | $110,000 | $605,000 | $138,000 | $419,000 |
| Home Improvement | 33 | $2,485,000 | $75,000 | $165,000 | $136,000 | $289,000 |
| Refinancing | 1 | $55,000 | $55,000 | $55,000 | $0 | $0 |
| Cash-out Refinancing | 1 | $45,000 | $45,000 | $45,000 | $0 | $0 |
| Home Purchase | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Black or African American | 27 | $2,255,000 | $83,000 | $175,000 | $107,000 | $227,000 |
| White | 27 | $2,705,000 | $100,000 | $605,000 | $137,000 | $297,000 |
| Hispanic | 9 | $815,000 | $90,000 | $155,000 | $159,000 | $371,000 |
| Asian | 5 | $545,000 | $109,000 | $255,000 | $264,000 | $419,000 |
| Not applicable | 1 | $75,000 | $75,000 | $75,000 | $70,000 | $70,000 |
| Not Provided | 1 | $55,000 | $55,000 | $55,000 | $107,000 | $107,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 70 | $6,450,000 | $92,000 | $605,000 | $137,000 | $419,000 |
| 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 | 37 | $3,145,000 | $85,000 | $205,000 | $143,000 | $342,000 |
| Application Denied By Financial Institution | 20 | $1,920,000 | $96,000 | $255,000 | $135,000 | $419,000 |
| Application Withdrawn By Applicant | 11 | $1,155,000 | $105,000 | $605,000 | $126,000 | $371,000 |
| File Closed For Incompleteness | 2 | $230,000 | $115,000 | $155,000 | $97,000 | $124,000 |
| 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 | 50 | $4,530,000 | $90,000 | $605,000 | $138,000 | $371,000 |
| Debt-To-Income Ratio | 7 | $955,000 | $136,000 | $255,000 | $142,000 | $419,000 |
| Credit History | 5 | $465,000 | $93,000 | $155,000 | $102,000 | $151,000 |
| Collateral | 3 | $155,000 | $51,000 | $55,000 | $191,000 | $281,000 |
| Other | 2 | $160,000 | $80,000 | $125,000 | $89,000 | $114,000 |
| Unverifiable Information | 1 | $65,000 | $65,000 | $65,000 | $227,000 | $227,000 |
| Credit Application Incomplete | 1 | $105,000 | $105,000 | $105,000 | $150,000 | $150,000 |
| Employment History | 1 | $15,000 | $15,000 | $15,000 | $79,000 | $79,000 |
| 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 Xcel Federal 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 Xcel Federal 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 New Jersey, download the full spreadsheet
with aggregated HMDA statistics today.