HMDA Summary Information for Phillips Neighborhood

Minneapolis 1992-1995

This summary information from the Home Mortgage Disclosure Act (HMDA) was provided by James L. Greer, jgreer@ix.netcom.com
Please direct all comments and questions regarding this information to him.

HMDA Summary Information for Phillips Neighborhood

Home Mortgage Applications All Applicants Phillips Neighborhood, Minneapolis 1992-95

All Mortgage Applications
1992 1993 1994 1995
Number of Applications 285 328 338 320
Number Approved 235 270 256 239
Approval Rate 82.5 82.3 75.7 74.7
Total Amount Approved (in $1,000s) 44,640 14,140 23,200 11,830
Average Approved Loan 190.0 52.4 90.6 49.5
Home Purchase Loans
1992 1993 1994 1995
Number of Applications 147 112 123 151
Number Approved 121 98 103 132
Approval Rate 82.3 87.5 83.7 87.4
Total Amount Approved (in $1,000s) 6,832 4,880 5,430 7,030
Average Approved Loan 56.5 49.8 52.7 53.3
Home Improvement Loans
1992 1993 1994 1995
Number of Applications 40 65 90 63
Number Approved 27 34 57 29
Approval Rate 67.5 52.3 63.3 46.0
Total Amount Approved (in $1,000s) 210 550 1,193 500
Average Approved Loan 7.8 16.2 20.9 17.2
Refinancing Loans
1992 1993 1994 1995
Number of Applications 95 146 113 95
Number Approved 84 135 86 70
Approval Rate 88.4 92.5 76.1 73.7
Total Amount Approved (in $1,000s) 6,290 8,190 4,620 3,140
Average Approved Loan 74.9 60.7 53.7 44.9

HMDA Summary Information for Phillips Neighborhood by Income of Applicants

Home Mortgage Applications All Applicants Phillips Neighborhood, Minneapolis 1992-95

Total Amount of Loan Applications (in $1,000s)
1992 1993 1994 1995
Low 2,110 1,890 3,140 5,690
Low Moderate 3,120 3,580 2,020 2,830
Moderate 750 690 1,620 980
Middle 1,560 680 1,140 930
High 2,300 860 760 1,410
Average Amount of Loan Application
1992 1993 1994 1995
Low 35.2 35.0 36.1 46.6
Low Moderate 52.9 50.4 42.9 42.8
Moderate 37.4 52.9 53.9 54.5
Middle 71.0 39.9 51.6 46.5
High 153.4 77.8 47.4 108.2
Number of Applications
1992 1993 1994 1995
Low 90 78 130 165
Low Moderate 68 86 72 93
Moderate 24 21 35 22
Middle 23 22 27 25
High 18 13 17 15
Application Approval Rates
1992 1993 1994 1995
Low 66.7 69.2 66.9 73.9
Low Moderate 86.8 82.6 65.3 71.0
Moderate 83.3 61.9 85.7 81.8
Middle 95.7 77.3 81.5 80.0
High 83.3 84.6 94.1 86.7

Definitions

These categories are based on HUD's standard definitions of these based on the median household income of the metropolitan area.

low below 50% of median
low moderate 50% to 80% of median
moderate 80% to 100% of median
middle 100% to 150% of median
high over 150% of median

Published 15 Nov 1996 by Mark Brose on the World Wide Web.

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Please direct all comments and questions regarding this information to James L. Greer, jgreer@ix.netcom.com