Virginia
Mortgage Loan Application
Totals and Details
in 2020

Find mortgage statistics and mortgage data for Virginia.
Our lists allow you to explore the total number of mortgage applications and mortgage application details for 2003-2020 in all of Virginia.
You can organize this information by metropolitan area and by county.

Years 2020  2019  2018  2017  2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 820,513
Total Mortgage Loan Application Amount $261,579,440,000
Average Mortgage Loan Application Amount $318,000
Highest Mortgage Loan Application Amount $95,005,000
Average Applicant Income $132,000
Highest Applicant Income $9,999,000

Mortgage stats and application averages for each year are shown below, as well as highest application amount and the income of the highest applicant.
If you are looking for a mortgage or loan application data statistics in Virginia, these numbers will give you an idea of what to expect as you begin to look for a lender.

These lists can also be organized by various details about Mortgage Loan Applications for each year, with categories such as loan purpose, race of mortgage applicant, loan type, the outcome of the application, and reason for denial.

Each category breaks down the total number of mortgage applications, the total dollar amount for those applications, the average mortgage amount, and the highest mortgage within that category. You can also look at information regarding the average income of the mortgage applicants and the highest income of the mortgage applicants. If you're looking for a certain type of mortgage, these numbers will give you a better gauge of what to expect in various situations.

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Mortgage Loan Application Detail Totals for Virginia in 2020

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
Refinancing 416,377 $141,339,180,000 $339,000 $72,005,000 $141,000 $9,999,000
Home Purchase 242,637 $81,089,945,000 $334,000 $95,005,000 $118,000 $9,999,000
Cash-out Refinancing 100,489 $30,772,925,000 $306,000 $75,005,000 $129,000 $9,999,000
Home Improvement 25,800 $2,817,710,000 $109,000 $9,955,000 $150,000 $9,723,000
Other Purpose 23,861 $3,102,905,000 $130,000 $10,825,000 $143,000 $9,703,000
Not Applicable 11,349 $2,456,775,000 $216,000 $1,885,000 $82,000 $882,000

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 421,529 $127,701,630,000 $302,000 $46,635,000 $133,000 $9,999,000
Not Provided 131,047 $43,648,220,000 $333,000 $15,175,000 $146,000 $9,999,000
Not applicable 84,118 $32,097,995,000 $381,000 $95,005,000 $130,000 $2,808,000
Black or African American 73,962 $19,509,620,000 $263,000 $3,005,000 $98,000 $8,842,000
Asian 56,852 $21,793,930,000 $383,000 $30,975,000 $149,000 $5,339,000
Hispanic 39,569 $12,099,065,000 $305,000 $23,965,000 $106,000 $5,220,000
American Indian or Alaskan Native 3,239 $905,125,000 $279,000 $2,165,000 $111,000 $9,500,000
Native Hawaiian or Other Pacific Islander 1,195 $379,015,000 $317,000 $2,385,000 $123,000 $1,736,000

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) 562,127 $177,027,010,000 $314,000 $95,005,000 $142,000 $9,999,000
VA-guaranteed (Veterans Administration) 171,421 $62,930,185,000 $367,000 $4,305,000 $98,000 $8,842,000
FHA-insured (Federal Housing Administration) 78,077 $19,875,545,000 $254,000 $57,845,000 $73,000 $9,999,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 8,888 $1,746,700,000 $196,000 $1,315,000 $57,000 $1,248,000

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 469,160 $154,166,400,000 $328,000 $95,005,000 $133,000 $9,703,000
Application Withdrawn By Applicant 108,756 $35,982,340,000 $330,000 $61,005,000 $145,000 $9,999,000
Loan Purchased By The Institution 106,774 $35,880,040,000 $336,000 $43,295,000 $130,000 $9,999,000
Application Denied By Financial Institution 79,117 $19,295,870,000 $243,000 $42,005,000 $114,000 $9,999,000
File Closed For Incompleteness 39,944 $11,416,950,000 $285,000 $10,505,000 $126,000 $9,918,000
Application Approved But Not Accepted 16,593 $4,795,095,000 $288,000 $10,005,000 $134,000 $9,236,000
Preapproval Denied by Financial Institution 124 $24,460,000 $197,000 $605,000 $66,000 $420,000
Preapproval Approved but not Accepted 45 $18,285,000 $406,000 $2,435,000 $161,000 $974,000

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 735,696 $240,441,200,000 $326,000 $95,005,000 $134,000 $9,999,000
Debt-To-Income Ratio 25,710 $6,634,260,000 $258,000 $51,195,000 $91,000 $9,500,000
Credit History 19,338 $3,678,315,000 $190,000 $3,005,000 $108,000 $4,392,000
Credit Application Incomplete 15,633 $4,838,135,000 $309,000 $15,175,000 $145,000 $9,723,000
Other 9,401 $2,529,655,000 $269,000 $42,005,000 $140,000 $6,640,000
Collateral 8,088 $1,818,010,000 $224,000 $9,915,000 $138,000 $6,580,000
Unverifiable Information 3,443 $807,715,000 $234,000 $8,065,000 $120,000 $7,796,000
Insufficient Cash (Downpayment, Closing Cost) 1,998 $505,830,000 $253,000 $2,525,000 $148,000 $9,999,000
Employment History 1,174 $317,350,000 $270,000 $1,655,000 $78,000 $1,560,000
Mortgage Insurance Denied 32 $8,970,000 $280,000 $615,000 $124,000 $456,000
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Mortgage Loan Application Totals in 2020 by Virginia 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
BLACKSBURG-CHRISTIANSBURG-RADFORD, VA 8,585 $ 1,825,625,000 $ 212,000 $ 102,000
CHARLOTTESVILLE, VA 18,561 $ 5,456,130,000 $ 293,000 $ 134,000
HARRISONBURG, VA 6,957 $ 1,600,295,000 $ 230,000 $ 93,000
LYNCHBURG, VA 16,598 $ 3,275,820,000 $ 197,000 $ 92,000
RICHMOND, VA 123,541 $ 31,202,665,000 $ 252,000 $ 112,000
ROANOKE, VA 21,473 $ 4,270,255,000 $ 198,000 $ 102,000
STAUNTON-WAYNESBORO, VA 8,537 $ 1,607,375,000 $ 188,000 $ 82,000
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 165,113 $ 42,914,075,000 $ 259,000 $ 104,000
WINCHESTER, VA-WV 11,112 $ 2,832,400,000 $ 254,000 $ 110,000
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Mortgage Loan Application Totals in 2020 by Virginia County

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
Accomack 2,010 $ 378,930,000 $ 188,000 $ 114,000
Albemarle 9,654 $ 3,146,745,000 $ 325,000 $ 145,000
Alexandria 16,227 $ 7,664,580,000 $ 472,000 $ 193,000
Alleghany 629 $ 85,925,000 $ 136,000 $ 76,000
Amelia 1,020 $ 199,160,000 $ 195,000 $ 80,000
Amherst 1,831 $ 302,585,000 $ 165,000 $ 73,000
Appomattox 990 $ 166,760,000 $ 168,000 $ 75,000
Arlington 21,036 $ 10,731,310,000 $ 510,000 $ 218,000
Augusta 5,353 $ 1,062,645,000 $ 198,000 $ 86,000
Bath 165 $ 30,225,000 $ 183,000 $ 103,000
Bedford 6,697 $ 1,511,135,000 $ 225,000 $ 109,000
Bedford City n/a $ n/a $ n/a $ n/a
Bland 232 $ 29,650,000 $ 127,000 $ 70,000
Botetourt 2,682 $ 576,380,000 $ 214,000 $ 98,000
Bristol 803 $ 114,195,000 $ 142,000 $ 66,000
Brunswick 571 $ 107,055,000 $ 187,000 $ 109,000
Buchanan 299 $ 26,675,000 $ 89,000 $ 61,000
Buckingham 700 $ 106,780,000 $ 152,000 $ 68,000
Buena Vista 263 $ 33,495,000 $ 127,000 $ 62,000
Campbell 3,230 $ 553,350,000 $ 171,000 $ 77,000
Caroline 3,239 $ 683,795,000 $ 211,000 $ 85,000
Carroll 1,395 $ 188,365,000 $ 135,000 $ 73,000
Charles City 424 $ 86,270,000 $ 203,000 $ 94,000
Charlotte 350 $ 49,870,000 $ 142,000 $ 74,000
Charlottesville 2,744 $ 854,290,000 $ 311,000 $ 147,000
Chesapeake 28,740 $ 7,989,730,000 $ 278,000 $ 100,000
Chesterfield 41,617 $ 10,490,795,000 $ 252,000 $ 108,000
Clarke 1,550 $ 513,120,000 $ 331,000 $ 136,000
Colonial Heights 1,270 $ 203,000,000 $ 159,000 $ 71,000
Covington 170 $ 16,060,000 $ 94,000 $ 57,000
Craig 359 $ 51,545,000 $ 143,000 $ 69,000
Culpeper 4,999 $ 1,388,655,000 $ 277,000 $ 106,000
Cumberland 592 $ 96,640,000 $ 163,000 $ 71,000
Danville 1,091 $ 152,595,000 $ 139,000 $ 83,000
Dickenson 318 $ 30,990,000 $ 97,000 $ 61,000
Dinwiddie 1,871 $ 341,185,000 $ 182,000 $ 78,000
Emporia 143 $ 18,175,000 $ 127,000 $ 84,000
Essex 836 $ 160,110,000 $ 191,000 $ 102,000
Fairfax 132,018 $ 58,269,080,000 $ 441,000 $ 179,000
Fairfax City 2,839 $ 1,148,835,000 $ 404,000 $ 162,000
Falls Church 1,430 $ 770,780,000 $ 539,000 $ 228,000
Fauquier 9,589 $ 3,511,655,000 $ 366,000 $ 141,000
Floyd 846 $ 139,960,000 $ 165,000 $ 80,000
Fluvanna 2,852 $ 608,320,000 $ 213,000 $ 94,000
Franklin 4,082 $ 983,180,000 $ 240,000 $ 133,000
Franklin City 359 $ 57,255,000 $ 159,000 $ 72,000
Frederick 9,603 $ 2,468,645,000 $ 257,000 $ 108,000
Fredericksburg 2,171 $ 703,715,000 $ 324,000 $ 143,000
Galax 232 $ 32,660,000 $ 140,000 $ 75,000
Giles 767 $ 109,525,000 $ 142,000 $ 76,000
Gloucester 3,822 $ 877,940,000 $ 229,000 $ 96,000
Goochland 2,804 $ 890,930,000 $ 317,000 $ 154,000
Grayson 564 $ 79,240,000 $ 140,000 $ 76,000
Greene 1,873 $ 512,955,000 $ 273,000 $ 92,000
Greensville 306 $ 37,220,000 $ 121,000 $ 64,000
Halifax 1,147 $ 159,475,000 $ 139,000 $ 76,000
Hampton 10,568 $ 2,129,900,000 $ 201,000 $ 79,000
Hanover 12,845 $ 3,381,425,000 $ 263,000 $ 115,000
Harrisonburg 1,775 $ 470,605,000 $ 265,000 $ 88,000
Henrico 31,922 $ 8,212,120,000 $ 257,000 $ 117,000
Henry 1,569 $ 187,965,000 $ 119,000 $ 66,000
Highland 114 $ 19,460,000 $ 170,000 $ 91,000
Hopewell 1,384 $ 190,400,000 $ 137,000 $ 63,000
Isle of Wight 4,325 $ 1,172,025,000 $ 270,000 $ 106,000
James City 9,308 $ 2,733,815,000 $ 293,000 $ 123,000
King and Queen 452 $ 82,260,000 $ 181,000 $ 88,000
King George 3,241 $ 922,965,000 $ 284,000 $ 118,000
King William 1,913 $ 375,145,000 $ 196,000 $ 81,000
Lancaster 1,073 $ 301,995,000 $ 281,000 $ 154,000
Lee 630 $ 67,380,000 $ 106,000 $ 64,000
Lexington 238 $ 48,740,000 $ 204,000 $ 104,000
Loudoun 72,205 $ 31,326,255,000 $ 433,000 $ 171,000
Louisa 4,419 $ 1,099,545,000 $ 248,000 $ 123,000
Lunenburg 448 $ 62,110,000 $ 138,000 $ 75,000
Lynchburg 3,850 $ 741,990,000 $ 192,000 $ 90,000
Madison 1,012 $ 233,760,000 $ 230,000 $ 106,000
Manassas 3,969 $ 1,148,625,000 $ 289,000 $ 105,000
Manassas Park 1,500 $ 415,430,000 $ 276,000 $ 99,000
Martinsville 367 $ 41,855,000 $ 114,000 $ 76,000
Mathews 826 $ 197,430,000 $ 239,000 $ 128,000
Mecklenburg 1,578 $ 308,940,000 $ 195,000 $ 115,000
Middlesex 1,033 $ 248,385,000 $ 240,000 $ 140,000
Montgomery 5,411 $ 1,304,145,000 $ 241,000 $ 115,000
Nelson 1,438 $ 333,820,000 $ 232,000 $ 153,000
New Kent 3,178 $ 834,950,000 $ 262,000 $ 102,000
Newport News 11,189 $ 2,255,060,000 $ 201,000 $ 84,000
Norfolk 17,433 $ 4,216,485,000 $ 241,000 $ 99,000
Northampton 1,006 $ 241,580,000 $ 240,000 $ 139,000
Northumberland 1,450 $ 356,510,000 $ 245,000 $ 149,000
Norton 98 $ 12,410,000 $ 126,000 $ 78,000
Nottoway 595 $ 96,845,000 $ 162,000 $ 73,000
Orange 4,091 $ 966,745,000 $ 236,000 $ 100,000
Page 1,310 $ 239,120,000 $ 182,000 $ 91,000
Patrick 637 $ 83,045,000 $ 130,000 $ 72,000
Petersburg 1,314 $ 190,050,000 $ 144,000 $ 80,000
Pittsylvania 2,398 $ 363,440,000 $ 151,000 $ 84,000
Poquoson 1,474 $ 429,380,000 $ 291,000 $ 127,000
Portsmouth 7,959 $ 1,460,445,000 $ 183,000 $ 72,000
Powhatan 3,723 $ 1,006,845,000 $ 270,000 $ 116,000
Prince Edward 891 $ 142,765,000 $ 160,000 $ 79,000
Prince George 2,754 $ 558,100,000 $ 202,000 $ 90,000
Prince William 62,127 $ 22,604,060,000 $ 363,000 $ 129,000
Pulaski 1,815 $ 302,835,000 $ 166,000 $ 83,000
Radford 592 $ 109,120,000 $ 184,000 $ 82,000
Rappahannock 687 $ 240,335,000 $ 349,000 $ 191,000
Richmond 444 $ 84,010,000 $ 189,000 $ 102,000
Richmond City 14,657 $ 4,087,245,000 $ 278,000 $ 131,000
Roanoke 7,658 $ 1,516,440,000 $ 198,000 $ 100,000
Roanoke City 5,151 $ 868,285,000 $ 168,000 $ 87,000
Rockbridge 1,244 $ 278,710,000 $ 224,000 $ 96,000
Rockingham 5,182 $ 1,129,690,000 $ 218,000 $ 95,000
Russell 833 $ 106,645,000 $ 128,000 $ 74,000
Salem 1,541 $ 274,425,000 $ 178,000 $ 93,000
Scott 671 $ 81,745,000 $ 121,000 $ 73,000
Shenandoah 3,482 $ 694,320,000 $ 199,000 $ 91,000
Smyth 928 $ 113,330,000 $ 122,000 $ 68,000
Southampton 953 $ 170,905,000 $ 179,000 $ 77,000
Spotsylvania 18,062 $ 5,293,960,000 $ 293,000 $ 110,000
Stafford 23,365 $ 8,101,645,000 $ 346,000 $ 120,000
Staunton 1,645 $ 271,755,000 $ 165,000 $ 76,000
Suffolk 10,985 $ 2,945,135,000 $ 268,000 $ 103,000
Surry 473 $ 95,555,000 $ 202,000 $ 80,000
Sussex 393 $ 63,785,000 $ 162,000 $ 73,000
Tazewell 1,342 $ 176,040,000 $ 131,000 $ 75,000
Virginia Beach 49,183 $ 13,943,355,000 $ 283,000 $ 115,000
Warren 4,753 $ 1,162,235,000 $ 244,000 $ 99,000
Washington 2,572 $ 441,320,000 $ 171,000 $ 88,000
Waynesboro 1,539 $ 272,975,000 $ 177,000 $ 76,000
Westmoreland 1,978 $ 415,970,000 $ 210,000 $ 117,000
Williamsburg 810 $ 215,750,000 $ 266,000 $ 115,000
Winchester 1,509 $ 363,755,000 $ 241,000 $ 120,000
Wise 1,068 $ 131,940,000 $ 123,000 $ 70,000
Wythe 1,375 $ 186,295,000 $ 135,000 $ 73,000
York 7,179 $ 2,119,465,000 $ 295,000 $ 116,000

We hope these mortgage application details and statistics will give you a better idea of what to expect when applying for a mortgage.
Whether you are looking for a home loan, for home financing or refinancing, or for home improvement loan statistics, we have the information you need.
These mortgage application stats give you everything you need to know as you start your search for the best mortgage lender in Virginia.

If you prefer, you can download a copy of the entire list of mortgage lenders in Virginia and search similar information back through 2003.

Download the Virginia Lender List