Acre Mortgage And Financial Inc Rates, Fees & Info
MARLTON, NJLEI: 2549007G9V4FYWWWDZ31
Tax ID: 42-1554463
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Mortgage Data
Review & Overview
Acre Mortgage And Financial Inc is a smaller mortgage company specializing in 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 by origination volume include: Philadelphia, Atlanta, New York, East Stroudsburg, and Baltimore among others. We have data for 55 markets. (Some data included below & more in-depth data is available with an active subscription.)Acre Mortgage And Financial Inc has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Acre Mortgage And Financial Inc is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.86% | 3/31/23 |
| 30 Year Conventional Refi | 6.55% | 3/31/23 |
| 30 Year Cash-out Refi | 6.94% | 3/31/23 |
| 30 Year FHA Purchase | 7.66% | 3/31/23 |
| 30 Year FHA Refi | 7.39% | 3/31/23 |
| 30 Year VA Purchase | 6.67% | 3/31/23 |
| 30 Year VA Refi | 5.49% | 3/31/23 |
| 30 Year USDA Purchase | 7.14% | 3/31/23 |
| 15 Year Conventional Purchase | 6.23% | 3/31/23 |
| 15 Year Conventional Refi | 5.69% | 3/31/23 |
| 15 Year Cash-out Refi | 5.69% | 3/31/23 |
| 15 Year FHA Purchase | 7.23% | 3/31/23 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Originations
954Origination Dollar Volume (All Markets)
$265,220,000Relative Rate
Acre Mortgage And Financial Inc's average 30 year fixed mortgage rate was
5.19%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.43%.
Relative Fees (Closing Costs)
Acre Mortgage And Financial Inc's average total fees/closing costs for a 30 year fixed rate
mortgage were $10,640.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 561 | $140,975,000 | $251,292 | $9,311 | 5.12% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 53 | $19,385,000 | $365,755 | $19,567 | 5.19% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 47 | $17,825,000 | $379,255 | $12,219 | 5.04% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 55 | $14,305,000 | $260,091 | $13,842 | 5.67% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 41 | $10,875,000 | $265,244 | $10,083 | 5.28% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 13 | $5,845,000 | $449,615 | $11,882 | 5.48% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 20 | $5,660,000 | $283,000 | $8,412 | 4.71% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 21 | $4,715,000 | $224,524 | $10,695 | 5.29% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 11 | $4,685,000 | $425,909 | $10,817 | 4.87% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 15 | $3,825,000 | $255,000 | $9,903 | 5.21% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 10 | $3,690,000 | $369,000 | $8,192 | 5.29% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 9 | $3,605,000 | $400,556 | $12,767 | 5.26% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 7 | $3,235,000 | $462,143 | $15,273 | 4.96% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 7 | $2,445,000 | $349,286 | $8,886 | 4.34% |
| DOVER, DE (FHA|USDA|VA) | 8 | $2,090,000 | $261,250 | $11,468 | 5.84% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 5 | $1,815,000 | $363,000 | $9,772 | 4.17% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 7 | $1,815,000 | $259,286 | $7,708 | 5.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $1,145,000 | $381,667 | $11,416 | 4.75% |
| READING, PA (FHA|USDA|VA) | 5 | $1,065,000 | $213,000 | $6,669 | 5.65% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 2 | $1,020,000 | $510,000 | $9,863 | 3.38% |
| PITTSBURGH, PA (FHA|USDA|VA) | 5 | $935,000 | $187,000 | $5,841 | 5.63% |
| Outside of Metro Areas | 4 | $880,000 | $220,000 | $10,334 | 4.53% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 3 | $845,000 | $281,667 | $5,940 | 3.83% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $7,969 | 4.93% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $19,590 | 4.63% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $20,033 | 5.69% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $5,985 | 5.00% |
| HARRISONBURG, VA (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $19,090 | 6.38% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $1,981 | 2.99% |
| LANCASTER, PA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $5,562 | 5.13% |
| FLORENCE, SC (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $6,975 | 3.44% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $2,417 | 6.13% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $14,060 | 3.75% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $4,099 | 2.50% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $9,012 | 4.81% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $2,108 | 3.88% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $10,510 | 2.25% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $4,558 | 5.62% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,057 | 4.00% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $12,079 | 5.88% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $21,612 | 5.50% |
| Wilson, NC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $17,841 | 4.38% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,147 | 4.13% |
| Fredericksburg, TX (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $9,258 | 2.75% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $5,085 | 5.99% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $17,452 | 7.13% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $14,400 | 4.13% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $10,021 | 6.13% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $11,385 | 5.63% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,493 | 5.00% |
| OCALA, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,357 | 3.88% |
| Palatka, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $13,912 | 4.25% |
| Lewisburg, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,895 | 7.25% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,186 | 5.88% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,116 | 4.37% |
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Product Mix
For 2022, Acre Mortgage And Financial Inc's most frequently originated type of loan was Conventional, with 467 originations. Their 2nd most popular type was FHA, with 433 originations.
Loan Reason
For 2022, Acre Mortgage And Financial Inc's most frequently cited loan purpose was Home Purchase, with 784 originations. The 2nd most popular reason was Cash Out Refi, with 133 originations.
Loan Duration/Length
For 2022, Acre Mortgage And Financial Inc's most frequently cited loan duration was 30 Year, with 918 originations. The 2nd most popular length was 15 Year, with 23 originations.
Origination Fees/Closing Costs
Acre Mortgage And Financial Inc's average total fees were $10,640, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 390 originations.
Interest Rates
During 2022, Acre Mortgage And Financial Inc's average interest rate for loans was 5.19%, while their most frequently originated rate bucket for loans was 5-6%, with 328 originations.
Loan Sizing
2022 saw Acre Mortgage And Financial Inc place emphasis on $200k-400k loans with 560 originations, totaling $157,470,000 in origination value.
Applicant Income
Acre Mortgage And Financial Inc lent most frequently to those with incomes in the $50k-75k range, with 258 originations. The second most popular income band? $100k-150k, with 230 originations.
Applicant Debt to Income Ratio
Acre Mortgage And Financial Inc lent most frequently to those with DTI ratios of 50-60%, with 176 originations. The next most common DTI ratio? 30-36%, with 121 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.76%
Acre Mortgage And Financial Inc has an average approval rate.
Pick Rate
Approvals leading to origination63.84%
Acre Mortgage And Financial Inc has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 954 | $265,220,000 | $278,008 |