Acre Mortgage And Financial Inc Rates, Fees & Info

MARLTON, NJ

LEI: 2549007G9V4FYWWWDZ31

Tax ID: 42-1554463

1.3 stars - Updated: 6/9/24 - out of 5 stars, based on 24 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Acre Mortgage And Financial Inc is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Acre Mortgage And Financial Inc has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Philadelphia, New York, East Stroudsburg, Atlantic City, and Atlanta among others. We have data for 48 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.86% 6/9/24
30 Year Conventional Refi 6.55% 6/9/24
30 Year Cash-out Refi 6.94% 6/9/24
30 Year FHA Purchase 7.66% 6/9/24
30 Year FHA Refi 7.39% 6/9/24
30 Year VA Purchase 6.67% 6/9/24
30 Year VA Refi 5.49% 6/9/24
30 Year USDA Purchase 7.14% 6/9/24
15 Year Conventional Purchase 6.23% 6/9/24
15 Year Conventional Refi 5.69% 6/9/24
15 Year Cash-out Refi 5.69% 6/9/24
15 Year FHA Purchase 7.23% 6/9/24
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.

Acre Mortgage And Financial Inc Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Acre Mortgage And Financial Inc. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

555

Origination Dollar Volume (All Markets)

$154,225,000

Awards

Acre Mortgage and Financial Inc FHA Loans gold
Show all (1) awards

Relative Rate

Acre Mortgage And Financial Inc's average 30 year fixed mortgage rate was 6.85%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.37%.

Relative Fees (Closing Costs)

Acre Mortgage And Financial Inc's average total fees/closing costs for a 30 year fixed rate mortgage were $11,646.

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 $9,089.

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) 353 $93,795,000 $265,708 $11,250 6.80%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 44 $13,200,000 $300,000 $10,872 7.05%
EAST STROUDSBURG, PA (FHA|USDA|VA) 22 $5,890,000 $267,727 $13,684 7.17%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 13 $4,065,000 $312,692 $12,349 6.85%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 10 $4,060,000 $406,000 $14,849 6.85%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 13 $3,705,000 $285,000 $9,746 6.70%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 10 $2,290,000 $229,000 $10,571 6.72%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 5 $2,265,000 $453,000 $5,806 7.00%
OCEAN CITY, NJ (FHA|USDA|VA) 5 $1,985,000 $397,000 $12,684 7.25%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 5 $1,915,000 $383,000 $12,990 7.37%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 3 $1,745,000 $581,667 $14,023 7.12%
HARRISONBURG, VA (FHA|USDA|VA) 4 $1,530,000 $382,500 $23,738 7.19%
Outside of Metro Areas 4 $1,510,000 $377,500 $11,838 6.94%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 4 $1,320,000 $330,000 $13,547 7.22%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 5 $1,295,000 $259,000 $16,072 7.13%
DOVER, DE (FHA|USDA|VA) 5 $1,175,000 $235,000 $14,491 6.40%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $1,155,000 $385,000 $8,622 6.50%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 5 $1,025,000 $205,000 $10,884 6.85%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 5 $775,000 $155,000 $9,244 7.25%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 3 $725,000 $241,667 $14,139 6.88%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 3 $705,000 $235,000 $16,309 7.13%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $585,000 $585,000 $6,920 7.38%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $515,000 $515,000 $6,512 6.50%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $490,000 $245,000 $9,341 6.44%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $485,000 $485,000 $6,398 5.88%
PITTSBURGH, PA (FHA|USDA|VA) 3 $435,000 $145,000 $5,802 6.83%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $405,000 $405,000 $21,305 5.75%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $405,000 $405,000 $9,065 6.88%
PUNTA GORDA, FL (FHA|USDA|VA) 2 $400,000 $200,000 $12,575 7.18%
Rockingham, NC (FHA|USDA|VA) 1 $355,000 $355,000 $22,949 7.13%
STAUNTON, VA (FHA|USDA|VA) 1 $345,000 $345,000 $24,308 7.50%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $305,000 $305,000 $19,968 6.50%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $295,000 $295,000 $7,262 6.63%
OCALA, FL (FHA|USDA|VA) 1 $285,000 $285,000 $15,960 7.63%
Lake City, FL (FHA|USDA|VA) 1 $275,000 $275,000 $18,591 7.00%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $265,000 $265,000 $20,233 7.13%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $255,000 $255,000 $10,651 6.25%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $235,000 $235,000 $0 7.13%
Palatka, FL (FHA|USDA|VA) 1 $225,000 $225,000 $16,212 6.75%
Sunbury, PA (FHA|USDA|VA) 1 $205,000 $205,000 $11,743 6.13%
LEBANON, PA (FHA|USDA|VA) 1 $205,000 $205,000 $6,820 6.13%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $195,000 $195,000 $13,252 6.49%
READING, PA (FHA|USDA|VA) 1 $195,000 $195,000 $11,017 6.63%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $175,000 $175,000 $6,050 6.63%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $175,000 $175,000 $5,980 6.63%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $165,000 $165,000 $12,048 7.63%
ERIE, PA (FHA|USDA|VA) 1 $155,000 $155,000 $6,690 6.63%
WILLIAMSPORT, PA (FHA|USDA|VA) 1 $65,000 $65,000 $5,533 7.50%
Acre Mortgage And Financial Inc's top markets include Philadelphia, New York, East Stroudsburg, Atlantic City, and Atlanta among others.

Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Acre Mortgage and Financial Inc based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Republic Bank
    Similarity Rank: 35
    FIRST FINANCIAL OF MARYLAND
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    N C P D Federal Credit Union
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    County Savings Bank
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    POINT BREEZE
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    GREATER ALLIANCE
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    Blue Foundry Bank
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    PCSB Bank
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 271 $73,155,000 $269,945 $14,767 6.78%
    Conventional 260 $72,400,000 $278,462 $7,998 6.94%
    VA 19 $7,505,000 $395,000 $15,643 6.69%
    USDA 5 $1,165,000 $233,000 $13,468 7.40%

    For 2023, Acre Mortgage And Financial Inc's most frequently originated type of loan was FHA, with 271 originations. Their 2nd most popular type was Conventional, with 260 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 488 $136,980,000 $280,697 $11,704 6.88%
    Cash Out Refi 57 $14,995,000 $263,070 $11,164 6.76%
    Refi 9 $2,175,000 $241,667 $9,490 6.75%
    Other 1 $75,000 $75,000 $0 2.63%

    For 2023, Acre Mortgage And Financial Inc's most frequently cited loan purpose was Home Purchase, with 488 originations. The 2nd most popular reason was Cash Out Refi, with 57 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 533 $149,315,000 $280,141 $11,646 6.85%
    Other 8 $1,340,000 $167,500 $10,221 7.17%
    15 Year 7 $2,255,000 $322,143 $8,655 6.64%
    20 Year 7 $1,315,000 $187,857 $12,042 6.82%

    For 2023, Acre Mortgage And Financial Inc's most frequently cited loan duration was 30 Year, with 533 originations. The 2nd most popular length was Other, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 261 $82,085,000 $314,502
    $1k-2k 106 $28,920,000 $272,830
    $3k-4k 59 $12,615,000 $213,814
    $4k-5k 57 $13,535,000 $237,456
    $2k-3k 26 $5,130,000 $197,308
    $<1k 14 $3,940,000 $281,429

    Acre Mortgage And Financial Inc's average total fees were $11,646, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 261 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 278 $74,450,000 $267,806
    7-8% 219 $64,845,000 $296,096
    5-6% 50 $12,750,000 $255,000
    Over 8% 4 $1,160,000 $290,000
    4-5% 3 $945,000 $315,000
    2.5-3% 1 $75,000 $75,000

    During 2023, Acre Mortgage And Financial Inc's average interest rate for loans was 6.85%, while their most frequently originated rate bucket for loans was 6-7%, with 278 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 305 $85,655,000 $280,836 $12,189 6.90%
    $100k-200k 144 $22,710,000 $157,708 $8,024 6.78%
    $400k-600k 69 $32,555,000 $471,812 $16,892 6.95%
    $100,000 or less 21 $1,735,000 $82,619 $5,231 6.57%
    $600k-1MM 14 $9,440,000 $674,286 $16,953 6.71%
    $1MM+ 2 $2,130,000 $1,065,000 $16,466 7.00%

    2023 saw Acre Mortgage And Financial Inc place emphasis on $200k-400k loans with 305 originations, totaling $85,655,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 150 $45,870,000 $305,800 $13,042 7.03%
    $50k-75k 133 $26,835,000 $201,767 $9,792 6.70%
    $75k-100k 104 $27,380,000 $263,269 $12,196 6.81%
    $150k-250k 81 $31,785,000 $392,407 $13,186 7.03%
    $50k or less 61 $9,265,000 $151,885 $8,419 6.52%
    $250k+ 26 $13,090,000 $503,462 $12,042 7.10%

    Acre Mortgage And Financial Inc lent most frequently to those with incomes in the $100k-150k range, with 150 originations. The second most popular income band? $50k-75k, with 133 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 104 $30,100,000 $289,423 $16,647 6.75%
    30-36% 65 $15,125,000 $232,692 $9,750 6.98%
    20-30% 47 $12,965,000 $275,851 $8,789 6.62%
    49% 46 $12,720,000 $276,522 $11,164 6.88%
    48% 36 $12,840,000 $356,667 $13,510 6.86%
    45% 25 $6,615,000 $264,600 $9,585 6.95%
    44% 24 $5,850,000 $243,750 $9,898 6.90%
    46% 24 $7,860,000 $327,500 $11,990 7.09%
    40% 22 $5,370,000 $244,091 $10,105 6.66%
    47% 21 $5,205,000 $247,857 $11,879 7.15%
    43% 18 $4,840,000 $268,889 $12,334 6.80%
    38% 17 $5,525,000 $325,000 $10,575 6.92%
    41% 17 $4,295,000 $252,647 $10,344 6.90%
    42% 16 $4,270,000 $266,875 $9,649 6.92%
    36% 16 $4,130,000 $258,125 $10,250 6.86%
    39% 14 $3,810,000 $272,143 $7,689 6.53%
    37% 13 $3,335,000 $256,538 $9,137 6.81%
    <20% 10 $3,170,000 $317,000 $9,706 6.98%

    Acre Mortgage And Financial Inc lent most frequently to those with DTI ratios of 50-60%, with 104 originations. The next most common DTI ratio? 30-36%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 279 $79,435,000 $284,713 $10,767 6.94%
    Not provided 134 $35,470,000 $264,701 $11,287 6.69%
    Black 119 $33,035,000 $277,605 $13,818 6.85%
    Asian 17 $4,695,000 $276,176 $13,203 6.90%
    American Indian 3 $975,000 $325,000 $10,528 6.54%
    Other Pacific Islander 2 $410,000 $205,000 $10,920 6.44%
    Native Hawaiian or Islander 1 $205,000 $205,000 $8,439 6.12%

    Approval Rates

    Total approvals of all applications
    96.22%

    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 origination
    57.66%

    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 555 $154,225,000 $277,883

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    555 $154,225,000 $277,883

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $1,430,000 $178,750 $5,204 6.75%
    40-60% 34 $8,430,000 $247,941 $7,485 6.65%
    60-80% 101 $27,265,000 $269,950 $10,266 7.03%
    80-100% 381 $108,155,000 $283,871 $12,523 6.83%
    Over 100% 7 $2,425,000 $346,429 $19,125 7.09%
    Under 20% 4 $320,000 $80,000 $3,665 5.06%