Summit County CO
Mortgage Loan Application
Totals and Details
for 2016

Years 2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 4,277
Total Mortgage Loan Application Amount $1,654,177,000
Average Mortgage Loan Application Amount $386,000
Highest Mortgage Loan Application Amount $12,530,000
Average Applicant Income $195,000
Highest Applicant Income $4,707,000
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Mortgage Loan Application Detail Totals for Summit County CO in 2016

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 2,216 $916,683,000 $413,000 $12,530,000 $211,000 $4,707,000
Refinancing 1,949 $704,458,000 $361,000 $3,400,000 $179,000 $4,000,000
Home Improvement 112 $33,036,000 $294,000 $1,700,000 $158,000 $1,630,000

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 3,360 $1,285,099,000 $382,000 $3,000,000 $205,000 $4,707,000
Not Provided 434 $164,975,000 $380,000 $2,343,000 $226,000 $3,840,000
Not applicable 296 $141,456,000 $477,000 $12,530,000 $30,000 $557,000
Hispanic 109 $35,016,000 $321,000 $1,500,000 $168,000 $853,000
Asian 43 $15,784,000 $367,000 $638,000 $223,000 $1,698,000
Black or African American 13 $4,966,000 $382,000 $1,130,000 $335,000 $1,061,000
American Indian or Alaskan Native 12 $4,050,000 $337,000 $626,000 $193,000 $564,000
Native Hawaiin or Other Pacific Islander 10 $2,831,000 $283,000 $623,000 $156,000 $333,000

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) 4,047 $1,563,967,000 $386,000 $12,530,000 $202,000 $4,707,000
FHA-insured (Federal Housing Administration) 116 $42,502,000 $366,000 $660,000 $59,000 $166,000
VA-guaranteed (Veterans Administration) 72 $37,473,000 $520,000 $1,571,000 $87,000 $424,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 42 $10,235,000 $243,000 $503,000 $57,000 $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 2,642 $1,047,182,000 $396,000 $3,400,000 $218,000 $3,937,000
Application Denied By Financial Institution 551 $194,936,000 $353,000 $1,763,000 $148,000 $3,584,000
Application Withdrawn By Applicant 474 $174,302,000 $367,000 $1,900,000 $202,000 $4,000,000
Loan Purchased By The Institution 360 $145,017,000 $402,000 $12,530,000 $89,000 $842,000
File Closed For Incompleteness 158 $55,916,000 $353,000 $1,125,000 $168,000 $907,000
Application Approved But Not Accepted 92 $36,824,000 $400,000 $2,500,000 $240,000 $4,707,000
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
Debt-To-Income Ratio 112 $49,097,000 $438,000 $1,734,000 $85,000 $350,000
Collateral 83 $28,845,000 $347,000 $1,318,000 $189,000 $773,000
Credit Application Incomplete 45 $14,278,000 $317,000 $1,080,000 $162,000 $516,000
Credit History 37 $9,863,000 $266,000 $600,000 $107,000 $660,000
Other 37 $14,828,000 $400,000 $1,763,000 $249,000 $1,630,000
Unverifiable Information 21 $5,631,000 $268,000 $784,000 $283,000 $3,584,000
Insufficient Cash (Downpayment, Closing Cost) 13 $8,382,000 $644,000 $1,376,000 $234,000 $647,000
Employment History 4 $1,335,000 $333,000 $514,000 $161,000 $497,000
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0
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