Applications / Mortgage Analytics / Lenders / Virginia / Towne First Mortgage
Glen Allen, VA · Independent non-bank lender · CFPB · 260 loans in 2025
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260
loans originated, 2025
314
applications, 2025
2
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Towne First Mortgage, a Virginia mortgage company, lends almost only to home buyers, and its business shrank by 29% in 2025.
Purchases made up 97.3% of its loans and refinancing the other 2.7%. Its typical loan was a little larger than at similar lenders, independent mortgage companies making between half and twice as many loans: $355,000 against $325,000. Loans guaranteed by the Department of Veterans Affairs (VA) took 7.7% of its lending, against 4.0% at peers.
It made 260 loans, down 29% from 366, while similar lenders held steady and the whole market grew 10%. It shrank more than nearly nine in ten of its peers. Its share fell in Richmond, to 0.7% from 1.0%, and in Charlottesville, to 0.5% from 1.3%. It made 1,041 loans in 2020, its peak. Slower home sales where it lends, or a choice to do less business, could lie behind the fall; the figures do not say which.
A quarter of its borrowers, 25.0%, had low or moderate incomes (LMI), more than at about three in five similar lenders, whose typical share was 21.6%. Yet only 12.4% of its loans were in LMI neighborhoods, against 18.7% at peers. That pattern may reflect buyers of modest income purchasing homes outside LMI neighborhoods in Richmond and Charlottesville, its two largest metro markets.
None of its loans was higher-priced (a rate well above the average for similar loans), against 1.6% at similar lenders. Its typical rate, 6.62%, was close to the peer figure of 6.50%. It turned down 2.1% of decided home-purchase applications, against 3.5% at peers.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2019–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Towne First Mortgage took 314 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 97.3% · Refinance 2.7%
Conventional 75.4% · FHA 16.5% · VA 7.7% · USDA (RHS or FSA) 0.4% · of 260 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Virginia | 259 | 99.6% |
| Florida | 1 | 0.4% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Richmond | 201 |
| Charlottesville | 23 |
| Blacksburg-Christiansburg-Radford | 3 |
| Staunton-Stuarts Draft | 3 |
| Lynchburg | 2 |
| Harrisonburg | 1 |
| Orlando-Kissimmee-Sanford | 1 |
| Virginia Beach-Chesapeake-Norfolk | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300XWC8ZG8WYKWG35 | 2019–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 5084546 | 2019–2023 |
Established 30 September 2016. Reported under HMDA 2019-2025.
Mergers, name changes, data editions and corrections: Towne First Mortgage's data.
Towne First Mortgage's data
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Towne First Mortgage and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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