AllMortgageDetail - Mortgage Application Details

Rhode Island
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 33,183
Total Mortgage Loan Application Amount $6,884,387,000
Average Mortgage Loan Application Amount $207,000
Highest Mortgage Loan Application Amount $35,000,000
Average Applicant Income $92,000
Highest Applicant Income $9,999,000

Mortgage Loan Application Detail Totals for Rhode Island 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 15,847 $3,565,317,000 $224,000 $23,520,000 $92,000 $9,999,000
Refinancing 14,484 $3,102,358,000 $214,000 $35,000,000 $93,000 $7,790,000
Home Improvement 2,852 $216,712,000 $75,000 $7,000,000 $87,000 $7,800,000

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 22,944 $4,676,646,000 $203,000 $8,400,000 $107,000 $9,999,000
Not applicable 3,770 $1,100,062,000 $291,000 $35,000,000 $13,000 $3,100,000
Not Provided 2,758 $557,377,000 $202,000 $5,500,000 $108,000 $2,755,000
Hispanic 2,214 $302,200,000 $136,000 $1,560,000 $56,000 $770,000
Black or African American 830 $124,423,000 $149,000 $742,000 $65,000 $675,000
Asian 558 $105,208,000 $188,000 $930,000 $98,000 $753,000
American Indian or Alaskan Native 72 $11,323,000 $157,000 $512,000 $80,000 $267,000
Native Hawaiin or Other Pacific Islander 37 $7,148,000 $193,000 $573,000 $108,000 $417,000

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) 24,822 $5,303,969,000 $213,000 $35,000,000 $105,000 $9,999,000
FHA-insured (Federal Housing Administration) 6,401 $1,121,091,000 $175,000 $9,266,000 $50,000 $900,000
VA-guaranteed (Veterans Administration) 1,605 $387,901,000 $241,000 $1,139,000 $70,000 $840,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 355 $71,426,000 $201,000 $425,000 $49,000 $138,000

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 17,760 $3,791,461,000 $213,000 $23,520,000 $106,000 $9,999,000
Application Denied By Financial Institution 5,571 $986,407,000 $177,000 $18,000,000 $88,000 $9,999,000
Loan Purchased By The Institution 4,865 $991,657,000 $203,000 $10,711,000 $31,000 $1,090,000
Application Withdrawn By Applicant 2,806 $683,004,000 $243,000 $35,000,000 $104,000 $1,872,000
File Closed For Incompleteness 1,236 $243,003,000 $196,000 $3,000,000 $112,000 $7,800,000
Application Approved But Not Accepted 942 $188,288,000 $199,000 $5,480,000 $109,000 $4,342,000
Preapproval Denied by Financial Institution 3 $567,000 $189,000 $216,000 $61,000 $83,000
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
Credit History 960 $104,729,000 $109,000 $1,750,000 $75,000 $1,305,000
Debt-To-Income Ratio 937 $156,354,000 $166,000 $3,714,000 $65,000 $1,050,000
Collateral 878 $185,254,000 $210,000 $5,500,000 $109,000 $2,250,000
Other 378 $53,826,000 $142,000 $960,000 $91,000 $4,342,000
Credit Application Incomplete 351 $71,510,000 $203,000 $3,018,000 $92,000 $1,408,000
Unverifiable Information 126 $19,405,000 $154,000 $2,550,000 $93,000 $1,320,000
Insufficient Cash (Downpayment, Closing Cost) 101 $19,940,000 $197,000 $750,000 $64,000 $279,000
Employment History 44 $6,809,000 $154,000 $376,000 $66,000 $250,000
Mortgage Insurance Denied 4 $821,000 $205,000 $269,000 $72,000 $101,000

Mortgage Loan Application Totals in 2014 by Rhode Island 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
PROVIDENCE-WARWICK, RI-MA 33,117 $ 6,867,232,000 $ 207,000 $ 92,000

Mortgage Loan Application Totals in 2014 by Rhode Island County

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
Bristol 1,557 $ 399,921,000 $ 256,000 $ 149,000
Kent 6,124 $ 1,131,009,000 $ 184,000 $ 78,000
Newport 2,987 $ 875,741,000 $ 293,000 $ 135,000
Providence 17,436 $ 3,145,073,000 $ 180,000 $ 75,000
Washington 5,022 $ 1,324,518,000 $ 263,000 $ 127,000