Prince Edward County, VA Mortgage Lenders & HMDA Data, 2023
In 2023, lenders reported 627 mortgage applications in Prince Edward County, VA totaling $108.8 million, down 26% from 2022. The average application was for $173,000, and applicants reported an average income of $91,000. 43% of applications resulted in an originated loan and 24% were denied. The most active lender was Vanderbilt Mortgage and Finance, Inc, with 131 applications, followed by Virginia Federal Credit Union and Benchmark Community Bank.
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| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 627 |
| Total Mortgage Loan Application Amount | $108,815,000 |
| Average Mortgage Loan Application Amount | $173,000 |
| Highest Mortgage Loan Application Amount | $2,125,000 |
| Average Applicant Income | $91,000 |
| Highest Applicant Income | $1,069,000 |
Top Mortgage Lenders in Prince Edward County, VA (2023)
Ranked by the number of mortgage applications each lender reported in Prince Edward County, VA in 2023.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Vanderbilt Mortgage and Finance, Inc Maryville, TN |
131 | $17,455,000 | $133,000 | $58,000 |
| 2 | Virginia Federal Credit Union Richmond, VA |
41 | $3,835,000 | $93,000 | $82,000 |
| 3 | Benchmark Community Bank Kenbridge, VA |
31 | $3,475,000 | $112,000 | $87,000 |
| 4 | Truist Bank Raleigh, NC |
30 | $3,190,000 | $106,000 | $106,000 |
| 5 | Alcova Mortgage, LLC Roanoke, VA |
25 | $6,755,000 | $270,000 | $109,000 |
| 6 | PennyMac Loan Services LLC Westlake Village, CA |
23 | $4,545,000 | $197,000 | $93,000 |
| 7 | Amerihome Mortgage Company, LLC Thousand Oaks, CA |
14 | $3,790,000 | $270,000 | $71,000 |
| 8 | Citizens Bank & Trust Co. Blackstone, VA |
13 | $1,625,000 | $125,000 | $101,000 |
| 9 | Movement Mortgage, LLC Indian Land, SC |
10 | $1,730,000 | $173,000 | $89,000 |
| 10 | Mortgage Research Center Columbia, MO |
10 | $1,960,000 | $196,000 | $77,000 |
See every lender active in Prince Edward County, VA in 2023 »
The tables below break down 2023 mortgage applications in Prince Edward County, VA by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.
Mortgage Loan Application Detail Totals for Prince Edward County, VA 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 | 408 | $80,680,000 | $197,000 | $2,125,000 | $89,000 | $1,069,000 |
| Cash-out Refinancing | 81 | $13,945,000 | $172,000 | $395,000 | $81,000 | $508,000 |
| Other Purpose | 48 | $3,310,000 | $68,000 | $305,000 | $90,000 | $226,000 |
| Refinancing | 46 | $7,490,000 | $162,000 | $1,165,000 | $114,000 | $373,000 |
| Home Improvement | 43 | $3,365,000 | $78,000 | $355,000 | $116,000 | $451,000 |
| Not Applicable | 1 | $25,000 | $25,000 | $25,000 | $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 | 307 | $51,875,000 | $168,000 | $1,165,000 | $101,000 | $1,069,000 |
| Black or African American | 174 | $26,170,000 | $150,000 | $645,000 | $72,000 | $508,000 |
| Not applicable | 69 | $16,615,000 | $240,000 | $2,125,000 | $70,000 | $137,000 |
| Not Provided | 48 | $7,980,000 | $166,000 | $385,000 | $90,000 | $451,000 |
| Hispanic | 19 | $4,015,000 | $211,000 | $355,000 | $87,000 | $251,000 |
| American Indian or Alaskan Native | 4 | $1,070,000 | $267,000 | $755,000 | $130,000 | $373,000 |
| Asian | 4 | $880,000 | $220,000 | $355,000 | $123,000 | $258,000 |
| 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) | 422 | $62,920,000 | $149,000 | $2,125,000 | $97,000 | $1,069,000 |
| FHA-insured (Federal Housing Administration) | 139 | $28,925,000 | $208,000 | $425,000 | $71,000 | $186,000 |
| VA-guaranteed (Veterans Administration) | 54 | $14,540,000 | $269,000 | $645,000 | $96,000 | $176,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 12 | $2,430,000 | $202,000 | $265,000 | $70,000 | $91,000 |
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 | 267 | $51,545,000 | $193,000 | $2,125,000 | $111,000 | $1,069,000 |
| Application Denied By Financial Institution | 150 | $19,270,000 | $128,000 | $365,000 | $70,000 | $508,000 |
| File Closed For Incompleteness | 77 | $11,075,000 | $143,000 | $365,000 | $64,000 | $296,000 |
| Loan Purchased By The Institution | 62 | $13,890,000 | $224,000 | $535,000 | $84,000 | $137,000 |
| Application Withdrawn By Applicant | 56 | $11,010,000 | $196,000 | $495,000 | $93,000 | $273,000 |
| Application Approved But Not Accepted | 13 | $1,665,000 | $128,000 | $235,000 | $111,000 | $213,000 |
| Preapproval Approved but not Accepted | 1 | $185,000 | $185,000 | $185,000 | $54,000 | $54,000 |
| Preapproval Denied by Financial Institution | 1 | $175,000 | $175,000 | $175,000 | $42,000 | $42,000 |
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 | 457 | $87,035,000 | $190,000 | $2,125,000 | $99,000 | $1,069,000 |
| Credit History | 65 | $7,615,000 | $117,000 | $365,000 | $62,000 | $180,000 |
| Debt-To-Income Ratio | 53 | $6,605,000 | $124,000 | $355,000 | $59,000 | $185,000 |
| Unverifiable Information | 20 | $3,140,000 | $157,000 | $215,000 | $92,000 | $338,000 |
| Collateral | 16 | $2,230,000 | $139,000 | $365,000 | $80,000 | $125,000 |
| Credit Application Incomplete | 8 | $980,000 | $122,000 | $235,000 | $104,000 | $180,000 |
| Other | 5 | $665,000 | $133,000 | $245,000 | $220,000 | $508,000 |
| Employment History | 2 | $370,000 | $185,000 | $255,000 | $13,000 | $27,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $175,000 | $175,000 | $175,000 | $56,000 | $56,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) loan application records that lenders file with the FFIEC each year, and count every application (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
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