Sail Mortgage Corp. Rates, Fees & Info

Wexford, PA

LEI: 2549006IYID0ECYSJU25

Tax ID: 25-1613078

5 stars - out of 5 stars, based on 31 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Sail Mortgage Corp. is a smaller mortgage company specializing in Home Purchase and Refi loans. Sail Mortgage Corp. has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Pittsburgh, Harrisburg, Philadelphia, Somerset, and York among others. Sail Mortgage Corp. has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Sail Mortgage Corp. is typically an average fee lendor.


Originations

948

Origination Dollar Volume (All Markets)

$252,190,000
Show all (8) awards

Relative Rate

Sail Mortgage Corp.'s average 30 year fixed rate mortgage of loans were 2.77%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.38%.

Relative Fees

Sail Mortgage Corp.'s average total fees for a 30 year fixed rate mortgage are $5,045.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
PITTSBURGH, PA (FHA|USDA|VA) 865 $234,235,000 $270,792 $5,032 2.67%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 23 $4,645,000 $201,957 $3,773 2.71%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 10 $2,990,000 $299,000 $5,461 2.56%
Somerset, PA (FHA|USDA|VA) 7 $1,365,000 $195,000 $4,759 2.68%
Outside of Metro Areas 4 $1,300,000 $325,000 $5,477 2.44%
YORK-HANOVER, PA (FHA|USDA|VA) 5 $1,215,000 $243,000 $4,115 2.75%
New Castle, PA (FHA|USDA|VA) 9 $1,135,000 $126,111 $3,793 2.58%
Bradford, PA (FHA|USDA|VA) 2 $740,000 $370,000 $5,259 2.69%
READING, PA (FHA|USDA|VA) 2 $600,000 $300,000 $5,458 3.06%
LANCASTER, PA (FHA|USDA|VA) 2 $460,000 $230,000 $4,078 2.94%
Lewisburg, PA (FHA|USDA|VA) 1 $445,000 $445,000 $5,579 2.50%
JOHNSTOWN, PA (FHA|USDA|VA) 2 $390,000 $195,000 $4,809 2.31%
ERIE, PA (FHA|USDA|VA) 3 $365,000 $121,667 $5,010 2.58%
ALTOONA, PA (FHA|USDA|VA) 2 $310,000 $155,000 $6,861 2.63%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $285,000 $285,000 $6,429 2.13%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 2 $280,000 $140,000 $4,034 3.00%
LEBANON, PA (FHA|USDA|VA) 1 $235,000 $235,000 $3,916 2.50%
Huntingdon, PA (FHA|USDA|VA) 1 $215,000 $215,000 $4,828 3.50%
Indiana, PA (FHA|USDA|VA) 1 $205,000 $205,000 $4,315 2.50%
GETTYSBURG, PA (FHA|USDA|VA) 1 $195,000 $195,000 $3,983 3.13%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $175,000 $175,000 $4,194 2.88%
STATE COLLEGE, PA (FHA|USDA|VA) 1 $145,000 $145,000 $3,938 3.00%
Oil City, PA (FHA|USDA|VA) 1 $145,000 $145,000 $4,141 3.00%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $115,000 $115,000 $3,877 2.38%

Sail Mortgage Corp.'s top markets include Pittsburgh, Harrisburg, Philadelphia, Somerset, and York among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 875 $239,245,000 $273,423 $4,863 2.67%
USDA 40 $6,100,000 $152,500 $5,476 2.64%
FHA 26 $4,690,000 $180,385 $7,253 2.58%
VA 7 $2,155,000 $307,857 $8,899 2.46%

For the 2021 period, Sail Mortgage Corp.'s most frequently originated loan type of loans were Conventional, with 875 originations. Their 2nd most popular type is USDA, with 40 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 448 $122,610,000 $273,683 $5,609 2.75%
Refi 341 $91,675,000 $268,842 $4,454 2.49%
Cash Out Refi 159 $37,905,000 $238,396 $4,356 2.83%

For the 2021, Sail Mortgage Corp.'s most frequently cited loan purpose of loans were Home Purchase, with 448 originations. The 2nd most popular reason of loans were Refi, with 341 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 687 $183,445,000 $267,023 $5,045 2.77%
15 Year 147 $37,015,000 $251,803 $4,367 2.25%
20 Year 82 $22,240,000 $271,220 $4,470 2.62%
Other 17 $3,935,000 $231,471 $4,090 2.75%
10 Year 10 $2,500,000 $250,000 $4,004 2.15%
30+ year 5 $3,055,000 $611,000 $28,133 3.23%

For the 2021, Sail Mortgage Corp.'s most frequently cited loan length of loans were 30 Year, with 687 originations. The 2nd most popular length of loans were 15 Year, with 147 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 891 $231,015,000 $259,276
$2k-3k 31 $10,335,000 $333,387
$3k-4k 18 $6,890,000 $382,778
$5k+ 5 $3,045,000 $609,000

$5,045 of loans were Sail Mortgage Corp.'s average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 891 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 466 $121,510,000 $260,751
<2.5% 386 $106,960,000 $277,098
3-4% 93 $22,785,000 $245,000
4-5% 3 $935,000 $311,667

During 2021, Sail Mortgage Corp.'s average interest rate of loans were 2.77%, while their most frequently originated rate bucket of loans were 2.5-3%, with 466 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 462 $129,130,000 $279,502 $4,937 2.65%
$100k-200k 291 $44,625,000 $153,351 $4,201 2.72%
$400k-600k 146 $71,130,000 $487,192 $6,235 2.61%
$100,000 or less 44 $3,590,000 $81,591 $3,624 2.64%
$600k-1MM 5 $3,715,000 $743,000 $30,634 3.15%

2021 saw Sail Mortgage Corp. place emphasis on $200k-400k loans with 462 originations, totaling $129,130,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 266 $74,460,000 $279,925 $4,902 2.64%
$150k-250k 188 $67,550,000 $359,309 $5,795 2.62%
$75k-100k 165 $35,435,000 $214,758 $4,567 2.73%
$50k-75k 158 $28,620,000 $181,139 $4,548 2.72%
$50k or less 89 $12,915,000 $145,112 $4,460 2.76%
$250k+ 81 $33,065,000 $408,210 $5,651 2.52%

Sail Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 266 originations. The second most popular income band? $150k-250k, with 188 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 305 $81,175,000 $266,148 $4,819 2.64%
30-36% 201 $53,975,000 $268,532 $4,850 2.70%
<20% 160 $40,680,000 $254,250 $4,565 2.58%
37% 33 $8,945,000 $271,061 $5,081 2.76%
36% 33 $9,565,000 $289,848 $5,401 2.70%
41% 31 $6,485,000 $209,194 $5,091 2.71%
43% 26 $7,270,000 $279,615 $5,179 2.69%
39% 26 $7,920,000 $304,615 $5,005 2.80%
44% 23 $6,875,000 $298,913 $8,952 2.85%
40% 23 $5,955,000 $258,913 $4,954 2.73%
38% 20 $4,190,000 $209,500 $4,856 2.71%
42% 18 $5,160,000 $286,667 $5,570 2.61%
47% 12 $3,210,000 $267,500 $4,770 2.67%
45% 12 $3,750,000 $312,500 $5,341 2.58%
46% 10 $2,820,000 $282,000 $6,398 2.79%
49% 6 $1,470,000 $245,000 $5,266 2.90%
48% 4 $1,210,000 $302,500 $4,712 2.53%
50-60% 3 $885,000 $295,000 $6,642 2.83%
>60% 2 $650,000 $325,000 $4,394 2.38%

Sail Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 305 originations. The next most common DTI ratio? 30-36%, with 201 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 839 $220,785,000 $263,153 $5,006 2.67%
Asian 51 $14,815,000 $290,490 $4,769 2.65%
Not provided 42 $12,150,000 $289,286 $4,688 2.63%
Black 9 $2,315,000 $257,222 $4,892 2.75%
American Indian 5 $1,565,000 $313,000 $6,371 2.65%
Other Asian 1 $285,000 $285,000 $4,845 3.00%
Asian Indian 1 $275,000 $275,000 $4,207 2.75%

Approval Rates

Total approvals of all applications
98.09%

Sail Mortgage Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
88.60%

Sail Mortgage Corp. has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 948 $252,190,000 $266,023

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
948 $252,190,000 $266,023

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 22 $4,170,000 $189,545 $4,048 2.30%
40-60% 143 $34,085,000 $238,357 $4,303 2.50%
60-80% 390 $107,530,000 $275,718 $4,587 2.69%
80-100% 384 $104,510,000 $272,161 $5,643 2.73%
Over 100% 8 $1,560,000 $195,000 $7,428 2.67%
Under 20% 1 $335,000 $335,000 $5,020 2.00%