Average Loan Amount

Not shown in the tool. The data behind this family is held and kept current, but it is not one of the measures the tool offers.

The average amount borrowed on home-purchase mortgages originated against properties in a tract.

Regulation C defines the reported loan amount as "the amount of the covered loan or the amount applied for, as applicable" (12 CFR 1003.4(a)(7)). It is one of the fields the Consumer Financial Protection Bureau alters before publishing the register: in the public file, loan amount and property value are "rounded to the midpoint of the nearest $10,000 interval" (FFIEC), so every loan is recorded at a $10,000 grid point rather than at its exact size. The rounding is symmetric and largely averages out across many loans, but it puts a floor on how precisely any single tract figure can be read.

Loan amount is not price. It is what the buyer borrowed, which reflects down payment, whether the buyer used a second lien, and the mix of products lenders wrote in that neighborhood. Two tracts with identical home prices will differ here if their buyers put down different amounts. The companion measure of financed property value describes the price side of the same transactions.

Only originated home-purchase loans are counted. Applications that were denied, withdrawn, or approved but not taken up carry a requested amount, not a lent one, and are excluded.