Acre Mortgage And Financial Inc Rates, Fees & Info
MARLTON, NJLEI: 2549007G9V4FYWWWDZ31
Tax ID: 42-1554463
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Acre Mortgage And Financial Inc is a smaller mortgage company specializing in Home Purchase loans. Acre Mortgage And Financial Inc has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Philadelphia, New York, Baltimore, Trenton, and Washington among others. Acre Mortgage And Financial Inc 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. Acre Mortgage And Financial Inc is typically a high fee lendor.Originations
935Origination Dollar Volume (All Markets)
$242,625,000Relative Rate
Acre Mortgage And Financial Inc's average 30 year fixed rate mortgage of loans were
3.34%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.19%.
Relative Fees
Acre Mortgage And Financial Inc's average total fees for a 30 year fixed rate
mortgage are $7,310.
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 |
|---|---|---|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 645 | $153,795,000 | $238,442 | $6,726 | 3.27% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 70 | $25,410,000 | $363,000 | $8,764 | 3.13% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 33 | $8,545,000 | $258,939 | $6,364 | 3.34% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 22 | $6,050,000 | $275,000 | $7,015 | 3.36% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 15 | $5,745,000 | $383,000 | $8,760 | 3.06% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 21 | $5,275,000 | $251,190 | $5,626 | 3.32% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 17 | $4,115,000 | $242,059 | $12,019 | 3.77% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 7 | $3,075,000 | $439,286 | $8,719 | 3.01% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 12 | $2,950,000 | $245,833 | $7,516 | 3.41% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 9 | $2,745,000 | $305,000 | $8,466 | 3.08% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 7 | $2,395,000 | $342,143 | $13,888 | 3.70% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 7 | $2,125,000 | $303,571 | $5,330 | 3.27% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 6 | $1,730,000 | $288,333 | $6,954 | 2.96% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $1,600,000 | $266,667 | $5,904 | 3.52% |
| DOVER, DE (FHA|USDA|VA) | 5 | $1,575,000 | $315,000 | $8,376 | 3.31% |
| Durango, CO (FHA|USDA|VA) | 1 | $1,145,000 | $1,145,000 | $4,419 | 5.38% |
| RICHMOND, VA (FHA|USDA|VA) | 3 | $1,135,000 | $378,333 | $5,249 | 2.88% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $1,000,000 | $500,000 | $5,113 | 3.25% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 5 | $885,000 | $177,000 | $4,939 | 3.55% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $2,973 | 2.75% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $4,072 | 2.56% |
| Outside of Metro Areas | 3 | $705,000 | $235,000 | $7,291 | 2.96% |
| READING, PA (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $4,418 | 3.42% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $6,956 | 3.44% |
| LANCASTER, PA (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $4,803 | 3.28% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $3,075 | 2.63% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $7,908 | 3.31% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $4,702 | 4.44% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $1,528 | 2.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $1,795 | 2.81% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $2,894 | 2.63% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $2,321 | 1.88% |
| Sunbury, PA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,979 | 2.88% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $14,463 | 3.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $10,248 | 3.88% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,183 | 2.87% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $7,335 | 3.37% |
| Torrington, CT (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,785 | 3.63% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,919 | 3.25% |
| TEXARKANA, TX-AR (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $9,078 | 2.50% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $10,593 | 3.63% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $8,807 | 2.50% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $10,285 | 3.63% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $6,546 | 4.12% |
Acre Mortgage And Financial Inc's top markets include Philadelphia, New York, Baltimore, Trenton, and Washington among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 538 | $144,090,000 | $267,825 | $5,015 | 3.24% |
| FHA | 358 | $86,240,000 | $240,894 | $9,619 | 3.33% |
| VA | 25 | $8,455,000 | $338,200 | $10,754 | 3.10% |
| USDA | 14 | $3,840,000 | $274,286 | $10,050 | 3.09% |
For the 2021 period, Acre Mortgage And Financial Inc's most frequently originated loan type of loans were Conventional, with 538 originations. Their 2nd most popular type is FHA, with 358 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 657 | $169,195,000 | $257,527 | $7,715 | 3.31% |
| Cash Out Refi | 156 | $40,210,000 | $257,756 | $5,675 | 3.36% |
| Refi | 122 | $33,220,000 | $272,295 | $4,855 | 2.93% |
For the 2021, Acre Mortgage And Financial Inc's most frequently cited loan purpose of loans were Home Purchase, with 657 originations. The 2nd most popular reason of loans were Cash Out Refi, with 156 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 847 | $219,705,000 | $259,392 | $7,310 | 3.34% |
| 15 Year | 55 | $14,675,000 | $266,818 | $4,004 | 2.59% |
| 20 Year | 17 | $4,525,000 | $266,176 | $4,848 | 2.89% |
| 10 Year | 10 | $2,250,000 | $225,000 | $3,166 | 2.09% |
| Other | 6 | $1,470,000 | $245,000 | $3,686 | 3.07% |
For the 2021, Acre Mortgage And Financial Inc's most frequently cited loan length of loans were 30 Year, with 847 originations. The 2nd most popular length of loans were 15 Year, with 55 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 590 | $146,360,000 | $248,068 |
| $3k-4k | 111 | $25,405,000 | $228,874 |
| $5k+ | 92 | $30,790,000 | $334,674 |
| $2k-3k | 67 | $15,345,000 | $229,030 |
| $<1k | 66 | $22,000,000 | $333,333 |
$7,310 of loans were Acre Mortgage And Financial Inc's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 590 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 594 | $145,880,000 | $245,589 |
| 2.5-3% | 248 | $70,600,000 | $284,677 |
| <2.5% | 54 | $17,260,000 | $319,630 |
| 4-5% | 34 | $6,970,000 | $205,000 |
| 5-6% | 3 | $1,435,000 | $478,333 |
| 6-7% | 2 | $480,000 | $240,000 |
During 2021, Acre Mortgage And Financial Inc's average interest rate of loans were 3.34%, while their most frequently originated rate bucket of loans were 3-4%, with 594 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 495 | $138,135,000 | $279,061 | $7,801 | 3.25% |
| $100k-200k | 303 | $48,275,000 | $159,323 | $5,781 | 3.37% |
| $400k-600k | 97 | $46,005,000 | $474,278 | $7,257 | 2.98% |
| $100,000 or less | 31 | $2,495,000 | $80,484 | $3,966 | 3.45% |
| $600k-1MM | 6 | $4,480,000 | $746,667 | $10,194 | 3.06% |
| $1MM+ | 3 | $3,235,000 | $1,078,333 | $14,574 | 3.75% |
2021 saw Acre Mortgage And Financial Inc place emphasis on $200k-400k loans with 495 originations, totaling $138,135,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 270 | $58,190,000 | $215,519 | $7,120 | 3.29% |
| $75k-100k | 178 | $47,640,000 | $267,640 | $7,647 | 3.26% |
| $100k-150k | 173 | $50,905,000 | $294,249 | $6,908 | 3.27% |
| $50k or less | 170 | $28,950,000 | $170,294 | $6,848 | 3.43% |
| $150k-250k | 107 | $38,195,000 | $356,963 | $6,236 | 3.10% |
| $250k+ | 34 | $17,740,000 | $521,765 | $6,324 | 2.97% |
Acre Mortgage And Financial Inc lent most frequently to those with incomes in the $50k-75k range, with 270 originations. The second most popular income band? $75k-100k, with 178 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 50-60% | 72 | $17,980,000 | $249,722 | $10,043 | 3.40% |
| 30-36% | 58 | $13,720,000 | $236,552 | $5,890 | 3.26% |
| 20-30% | 37 | $9,575,000 | $258,784 | $5,900 | 3.10% |
| 43% | 21 | $6,325,000 | $301,190 | $6,826 | 3.34% |
| 49% | 20 | $4,940,000 | $247,000 | $8,167 | 3.46% |
| 37% | 20 | $4,650,000 | $232,500 | $8,109 | 3.46% |
| 46% | 18 | $4,210,000 | $233,889 | $6,994 | 3.28% |
| 45% | 16 | $3,810,000 | $238,125 | $7,680 | 3.32% |
| 39% | 15 | $3,755,000 | $250,333 | $5,535 | 3.22% |
| 47% | 14 | $2,970,000 | $212,143 | $6,549 | 3.48% |
| <20% | 13 | $3,585,000 | $275,769 | $4,885 | 2.80% |
| 38% | 12 | $3,310,000 | $275,833 | $9,391 | 3.16% |
| 42% | 12 | $3,090,000 | $257,500 | $7,017 | 3.37% |
| 36% | 12 | $2,770,000 | $230,833 | $6,459 | 3.39% |
| 44% | 12 | $2,760,000 | $230,000 | $7,881 | 3.14% |
| 48% | 11 | $2,845,000 | $258,636 | $10,373 | 3.43% |
| 40% | 9 | $1,905,000 | $211,667 | $7,053 | 3.31% |
| 41% | 8 | $2,080,000 | $260,000 | $8,770 | 3.19% |
Acre Mortgage And Financial Inc lent most frequently to those with DTI ratios of 50-60%, with 72 originations. The next most common DTI ratio? 30-36%, with 58 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 481 | $126,535,000 | $263,067 | $6,190 | 3.28% |
| Not provided | 238 | $61,820,000 | $259,748 | $7,319 | 3.19% |
| Black | 189 | $45,645,000 | $241,508 | $8,774 | 3.39% |
| Asian | 21 | $6,225,000 | $296,429 | $5,192 | 3.01% |
| Asian Indian | 4 | $2,110,000 | $527,500 | $11,539 | 2.84% |
| Chinese | 1 | $145,000 | $145,000 | $3,552 | 3.25% |
| American Indian | 1 | $145,000 | $145,000 | $4,647 | 3.13% |
Approval Rates
Total approvals of all applications95.20%
Acre Mortgage And Financial Inc has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination76.76%
Acre Mortgage And Financial Inc has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 935 | $242,625,000 | $259,492 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 935 | $242,625,000 | $259,492 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 5 | $1,085,000 | $217,000 | $3,057 | 2.10% |
| 40-60% | 19 | $3,655,000 | $192,368 | $4,628 | 3.10% |
| 60-80% | 79 | $20,775,000 | $262,975 | $5,672 | 3.29% |
| 80-100% | 270 | $66,220,000 | $245,259 | $8,118 | 3.34% |
| Over 100% | 7 | $2,545,000 | $363,571 | $15,947 | 3.16% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| ACRE MORTGAGE | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| ACRE MORTGAGE | FHA mortgage | Closing on a mortgage | 1 | 50.0% |
