HMDA Summary Information for Powderhorn Park 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 Powderhorn Park Neighborhood

Home Mortgage Applications All Applicants Powderhorn Park Neighborhood, Minneapolis 1992-95

All Mortgage Applications
1992 1993 1994 1995
Number of Applications 424 716 590 469
Number Approved 365 634 489 401
Approval Rate 86.1 88.6 82.9 85.5
Total Amount Approved (in $1,000s) 48,260 38,310 24,800 19,510
Average Approved Loan 132.2 60.4 50.7 48.7
Home Purchase Loans
1992 1993 1994 1995
Number of Applications 212 227 267 262
Number Approved 186 208 239 240
Approval Rate 87.7 91.6 89.5 91.6
Total Amount Approved (in $1,000s) 40,730 11,650 13,700 14,530
Average Approved Loan 219.0 56.0 57.3 60.5
Home Improvement Loans
1992 1993 1994 1995
Number of Applications 86 102 132 114
Number Approved 58 56 78 81
Approval Rate 67.4 54.9 59.1 71.1
Total Amount Approved (in $1,000s) 600 790 870 970
Average Approved Loan 10.3 14.1 11.2 12.0
Refinancing Loans
1992 1993 1994 1995
Number of Applications 123 383 189 90
Number Approved 118 366 170 77
Approval Rate 95.9 95.6 90.0 85.6
Total Amount Approved (in $1,000s) 6,590 25,440 9,930 3,770
Average Approved Loan 55.8 69.5 58.4 49.0

HMDA Summary Information for Powderhorn Park Neighborhood by Income of Applicants

Home Mortgage Applications All Applicants Powderhorn Park Neighborhood, Minneapolis 1992-95

Total Amount of Loan Applications (in $1,000s)
1992 1993 1994 1995
Low 3,070 4,950 5,500 8,040
Low Moderate 4,270 6,380 7,240 6,610
Moderate 1,130 2,390 1,700 1,860
Middle 1,370 3,380 2,180 1,870
High 730 900 430 1,130
Average Amount of Loan Application
1992 1993 1994 1995
Low 41.5 42.0 42.3 48.1
Low Moderate 44.1 52.8 51.3 47.2
Moderate 43.3 48.8 41.5 46.6
Middle 49.0 53.7 51.9 58.5
High 60.7 52.9 39.3 51.4
Number of Applications
1992 1993 1994 1995
Low 97 143 177 202
Low Moderate 116 147 173 158
Moderate 30 64 50 48
Middle 35 70 48 38
High 14 22 11 23
Application Approval Rates
1992 1993 1994 1995
Low 76.3 82.5 73.5 82.7
Low Moderate 83.6 82.3 81.5 88.6
Moderate 86.7 76.6 82.0 83.3
Middle 80.0 90.0 87.5 84.2
High 85.7 77.3 100.0 95.7

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 1995 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