AllMortgageDetail - Mortgage Application Details

Massachusetts
Mortgage Loan Application
Totals and Details
in 2014

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Years 2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 239,543
Total Mortgage Loan Application Amount $70,218,518,000
Average Mortgage Loan Application Amount $293,000
Highest Mortgage Loan Application Amount $99,999,000
Average Applicant Income $111,000
Highest Applicant Income $9,999,000

Mortgage Loan Application Detail Totals for Massachusetts in 2014

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 114,634 $38,336,410,000 $334,000 $99,999,000 $113,000 $9,999,000
Refinancing 99,677 $28,354,012,000 $284,000 $99,999,000 $109,000 $9,999,000
Home Improvement 25,232 $3,528,096,000 $139,000 $40,000,000 $110,000 $4,120,000

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 155,223 $42,259,142,000 $272,000 $20,390,000 $127,000 $9,999,000
Not applicable 30,755 $13,236,726,000 $430,000 $99,999,000 $17,000 $2,616,000
Not Provided 23,010 $6,585,510,000 $286,000 $8,000,000 $136,000 $9,999,000
Asian 12,177 $3,964,670,000 $325,000 $3,803,000 $133,000 $6,300,000
Hispanic 10,141 $2,262,592,000 $223,000 $4,500,000 $81,000 $8,696,000
Black or African American 7,355 $1,701,063,000 $231,000 $5,000,000 $84,000 $4,429,000
American Indian or Alaskan Native 574 $131,099,000 $228,000 $2,881,000 $102,000 $1,474,000
Native Hawaiin or Other Pacific Islander 308 $77,716,000 $252,000 $1,175,000 $120,000 $3,742,000

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) 202,991 $61,038,278,000 $300,000 $99,999,000 $120,000 $9,999,000
FHA-insured (Federal Housing Administration) 24,940 $6,062,163,000 $243,000 $31,841,000 $57,000 $2,309,000
VA-guaranteed (Veterans Administration) 9,121 $2,597,159,000 $284,000 $1,800,000 $72,000 $1,013,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 2,491 $520,918,000 $209,000 $6,300,000 $50,000 $2,269,000

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 136,326 $41,780,424,000 $306,000 $70,500,000 $130,000 $9,999,000
Loan Purchased By The Institution 35,185 $10,056,531,000 $285,000 $99,999,000 $38,000 $2,773,000
Application Denied By Financial Institution 33,330 $7,793,330,000 $233,000 $70,000,000 $94,000 $6,000,000
Application Withdrawn By Applicant 20,784 $6,710,934,000 $322,000 $99,999,000 $128,000 $9,999,000
File Closed For Incompleteness 8,846 $2,418,055,000 $273,000 $12,000,000 $126,000 $7,500,000
Application Approved But Not Accepted 5,066 $1,457,902,000 $287,000 $35,000,000 $126,000 $5,219,000
Preapproval Denied by Financial Institution 6 $1,342,000 $223,000 $333,000 $52,000 $96,000
Preapproval Approved but not Accepted 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
Debt-To-Income Ratio 6,128 $1,467,927,000 $239,000 $40,000,000 $75,000 $2,150,000
Credit History 5,145 $842,432,000 $163,000 $3,350,000 $89,000 $3,606,000
Collateral 4,372 $1,091,725,000 $249,000 $11,250,000 $125,000 $6,000,000
Credit Application Incomplete 2,408 $666,779,000 $276,000 $6,725,000 $119,000 $4,253,000
Other 1,815 $435,907,000 $240,000 $19,500,000 $112,000 $3,000,000
Unverifiable Information 703 $169,161,000 $240,000 $1,583,000 $113,000 $3,000,000
Insufficient Cash (Downpayment, Closing Cost) 546 $192,907,000 $353,000 $21,378,000 $107,000 $1,388,000
Employment History 298 $72,367,000 $242,000 $2,240,000 $84,000 $591,000
Mortgage Insurance Denied 48 $11,667,000 $243,000 $833,000 $109,000 $389,000

Mortgage Loan Application Totals in 2014 by Massachusetts Metropolitan Area

Metro Area Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
BARNSTABLE TOWN, MA 11,713 $ 3,390,946,000 $ 289,000 $ 149,000
BOSTON, MA 70,951 $ 24,041,538,000 $ 338,000 $ 120,000
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 84,672 $ 27,768,801,000 $ 327,000 $ 117,000
PITTSFIELD, MA 3,994 $ 657,716,000 $ 164,000 $ 92,000
SPRINGFIELD, MA 17,495 $ 2,868,226,000 $ 163,000 $ 73,000
WORCESTER, MA-CT 28,535 $ 5,843,137,000 $ 204,000 $ 87,000

Mortgage Loan Application Totals in 2014 by Massachusetts County

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
Barnstable 11,715 $ 3,392,216,000 $ 289,000 $ 149,000
Berkshire 3,995 $ 657,799,000 $ 164,000 $ 92,000
Bristol 18,001 $ 3,825,087,000 $ 212,000 $ 81,000
Dukes 922 $ 515,128,000 $ 558,000 $ 273,000
Essex 28,917 $ 8,247,837,000 $ 285,000 $ 104,000
Franklin 2,086 $ 312,981,000 $ 150,000 $ 73,000
Hampden 13,231 $ 2,031,037,000 $ 153,000 $ 68,000
Hampshire 4,287 $ 841,227,000 $ 196,000 $ 88,000
Middlesex 55,791 $ 19,530,301,000 $ 350,000 $ 123,000
Nantucket 903 $ 840,610,000 $ 930,000 $ 455,000
Norfolk 27,401 $ 9,588,575,000 $ 349,000 $ 127,000
Plymouth 21,720 $ 5,699,803,000 $ 262,000 $ 100,000
Suffolk 21,874 $ 8,839,066,000 $ 404,000 $ 132,000
Worcester 28,550 $ 5,847,367,000 $ 204,000 $ 87,000