Silver Spring-Frederick-Rockville, MD Metro Area Mortgage Lenders & HMDA Data, 2018
In 2018, lenders reported 60,730 mortgage applications in Silver Spring-Frederick-Rockville, MD metro area totaling $21.5 billion, up 1% from 2017. The average application was for $353,673, and applicants reported an average income of $149,000. 51% of applications resulted in an originated loan and 15% were denied. The most active lender was Wells Fargo Bank NA, with 3,746 applications, followed by Bank of America NA and Suntrust Banks, Inc..
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| Years | 2018 2017 2016 2015 2014 |
| Total Number of Mortgage Applications | 60,730 |
| Total Mortgage Loan Application Amount | $21,478,615,000 |
| Average Mortgage Loan Application Amount | $353,673 |
| Highest Mortgage Loan Application Amount | $94,625,000 |
| Average Applicant Income | $149,000 |
| Highest Applicant Income | $9,810,000 |
Top Mortgage Lenders in Silver Spring-Frederick-Rockville, MD Metro Area (2018)
Ranked by the number of mortgage applications each lender reported in Silver Spring-Frederick-Rockville, MD metro area in 2018.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Wells Fargo Bank NA Minneapolis, MN |
3,746 | $1,787,460,000 | $477,000 | $182,000 |
| 2 | Bank of America NA Westlake Village, CA |
3,153 | $722,680,000 | $229,000 | $150,000 |
| 3 | Suntrust Banks, Inc. Atlanta, GA |
2,550 | $762,720,000 | $299,000 | $178,000 |
| 4 | PNC Bank N.A. Pittsburgh, PA |
2,237 | $521,375,000 | $233,000 | $157,000 |
| 5 | Truist Bank Raleigh, NC |
1,591 | $604,305,000 | $379,000 | $155,000 |
| 6 | Navy Federal Credit Union Vienna, VA |
1,506 | $401,450,000 | $266,000 | $138,000 |
| 7 | Caliber Home Loans, Inc. Wilmington, DE |
1,497 | $600,885,000 | $401,000 | $142,000 |
| 8 | Suntrust Mortgage, Inc. Richmond, VA |
1,360 | $574,860,000 | $422,000 | $156,000 |
| 9 | Sandy Spring Bank Columbia, MD |
1,315 | $425,245,000 | $323,000 | $178,000 |
| 10 | NVR Mortgage Finance, Inc. Pittsburgh, PA |
1,257 | $504,175,000 | $401,000 | $129,000 |
See every lender active in Silver Spring-Frederick-Rockville, MD metro area in 2018 »
The tables below break down 2018 mortgage applications in Silver Spring-Frederick-Rockville, MD metro area by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.
Mortgage Loan Application Detail Totals for Silver Spring-Frederick-Rockville, MD in 2018
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 | 30,213 | $12,953,810,000 | $428,000 | $67,435,000 | $148,000 | $4,420,000 |
| Refinancing | 10,658 | $3,829,060,000 | $359,000 | $49,165,000 | $156,000 | $7,606,000 |
| Cash-out Refinancing | 8,882 | $2,893,900,000 | $325,000 | $31,845,000 | $133,000 | $9,810,000 |
| Home Improvement | 5,620 | $881,810,000 | $156,000 | $94,625,000 | $160,000 | $3,000,000 |
| Other Purpose | 4,341 | $670,075,000 | $154,000 | $17,005,000 | $156,000 | $4,620,000 |
| Not Applicable | 1,016 | $249,960,000 | $246,000 | $1,595,000 | $105,000 | $599,000 |
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 | 26,484 | $8,788,330,000 | $331,000 | $4,705,000 | $163,000 | $7,606,000 |
| Not Provided | 8,172 | $2,856,670,000 | $349,000 | $4,505,000 | $164,000 | $4,620,000 |
| Not applicable | 7,004 | $3,968,805,000 | $566,000 | $94,625,000 | $125,000 | $1,177,000 |
| Asian | 6,283 | $2,145,775,000 | $341,000 | $3,305,000 | $144,000 | $9,810,000 |
| Black or African American | 6,207 | $1,872,545,000 | $301,000 | $3,505,000 | $119,000 | $3,900,000 |
| Hispanic | 5,403 | $1,490,715,000 | $275,000 | $3,355,000 | $103,000 | $3,180,000 |
| American Indian or Alaskan Native | 221 | $64,855,000 | $293,000 | $1,225,000 | $125,000 | $512,000 |
| Native Hawaiian or Other Pacific Islander | 95 | $23,935,000 | $251,000 | $645,000 | $110,000 | $354,000 |
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) | 48,577 | $17,123,380,000 | $352,000 | $94,625,000 | $159,000 | $9,810,000 |
| FHA-insured (Federal Housing Administration) | 8,061 | $2,696,775,000 | $334,000 | $49,165,000 | $90,000 | $859,000 |
| VA-guaranteed (Veterans Administration) | 3,600 | $1,528,770,000 | $424,000 | $2,235,000 | $126,000 | $2,168,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 492 | $129,690,000 | $263,000 | $545,000 | $78,000 | $197,000 |
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 | 31,003 | $11,602,110,000 | $374,000 | $66,045,000 | $155,000 | $7,606,000 |
| Loan Purchased By The Institution | 9,409 | $3,502,645,000 | $372,000 | $35,375,000 | $142,000 | $3,868,000 |
| Application Denied By Financial Institution | 9,383 | $2,254,435,000 | $240,000 | $4,405,000 | $127,000 | $4,953,000 |
| Application Withdrawn By Applicant | 7,465 | $2,979,055,000 | $399,000 | $67,435,000 | $153,000 | $9,810,000 |
| File Closed For Incompleteness | 2,207 | $677,275,000 | $306,000 | $4,505,000 | $149,000 | $4,000,000 |
| Application Approved But Not Accepted | 1,245 | $456,525,000 | $366,000 | $94,625,000 | $165,000 | $4,953,000 |
| Preapproval Approved but not Accepted | 15 | $5,765,000 | $384,000 | $1,005,000 | $144,000 | $380,000 |
| Preapproval Denied by Financial Institution | 3 | $805,000 | $268,000 | $415,000 | $61,000 | $70,000 |
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 | 50,577 | $18,934,930,000 | $374,000 | $94,625,000 | $153,000 | $9,810,000 |
| Debt-To-Income Ratio | 3,838 | $1,084,690,000 | $282,000 | $23,025,000 | $100,000 | $1,696,000 |
| Credit History | 2,528 | $431,090,000 | $170,000 | $2,245,000 | $136,000 | $3,180,000 |
| Collateral | 1,390 | $332,180,000 | $238,000 | $3,105,000 | $162,000 | $4,620,000 |
| Credit Application Incomplete | 889 | $278,925,000 | $313,000 | $1,765,000 | $133,000 | $1,040,000 |
| Other | 830 | $213,150,000 | $256,000 | $3,305,000 | $146,000 | $2,217,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 294 | $84,850,000 | $288,000 | $3,355,000 | $185,000 | $3,000,000 |
| Unverifiable Information | 280 | $86,720,000 | $309,000 | $1,965,000 | $166,000 | $4,953,000 |
| Employment History | 101 | $31,615,000 | $313,000 | $1,225,000 | $105,000 | $481,000 |
| Mortgage Insurance Denied | 3 | $465,000 | $155,000 | $235,000 | $58,000 | $70,000 |
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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