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 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. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Philadelphia, New York, East Stroudsburg, Atlantic City, and Baltimore among others. We have data for 34 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 an average 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 about average 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% | 4/21/24 |
| 30 Year Conventional Refi | 6.55% | 4/21/24 |
| 30 Year Cash-out Refi | 6.94% | 4/21/24 |
| 30 Year FHA Purchase | 7.66% | 4/21/24 |
| 30 Year FHA Refi | 7.39% | 4/21/24 |
| 30 Year VA Purchase | 6.67% | 4/21/24 |
| 30 Year VA Refi | 5.49% | 4/21/24 |
| 30 Year USDA Purchase | 7.14% | 4/21/24 |
| 15 Year Conventional Purchase | 6.23% | 4/21/24 |
| 15 Year Conventional Refi | 5.69% | 4/21/24 |
| 15 Year Cash-out Refi | 5.69% | 4/21/24 |
| 15 Year FHA Purchase | 7.23% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,057Origination Dollar Volume (All Markets)
$191,935,000Awards
Acre Mortgage and Financial Inc - 2018
Acre Mortgage and Financial Inc is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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) | 749 | $128,295,000 | $171,288 | $6,407 | 4.99% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 114 | $24,680,000 | $216,491 | $7,597 | 5.08% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 28 | $7,180,000 | $256,429 | $11,110 | 5.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 34 | $6,010,000 | $176,765 | $6,220 | 5.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 17 | $3,825,000 | $225,000 | $7,650 | 4.91% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 26 | $3,630,000 | $139,615 | $5,995 | 5.01% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 18 | $3,600,000 | $200,000 | $5,953 | 5.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 12 | $3,120,000 | $260,000 | $5,716 | 5.01% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 15 | $2,575,000 | $171,667 | $7,593 | 5.14% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 7 | $1,185,000 | $169,286 | $6,987 | 4.91% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 4 | $1,000,000 | $250,000 | $5,312 | 4.94% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 4 | $980,000 | $245,000 | $2,822 | 5.21% |
| LANCASTER, PA (FHA|USDA|VA) | 3 | $975,000 | $325,000 | $7,760 | 4.63% |
| COLUMBIA, SC (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $5,606 | 5.13% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $9,491 | 4.63% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $2,633 | 4.75% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $3,036 | 5.00% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $5,481 | 4.50% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,359 | 4.88% |
| DOVER, DE (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,695 | 3.88% |
| Outside of Metro Areas | 1 | $255,000 | $255,000 | $8,757 | 5.13% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,337 | 4.63% |
| READING, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,665 | 4.50% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,979 | 4.63% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,181 | 4.63% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,533 | 5.13% |
| JOHNSTOWN, PA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,101 | 4.63% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $9,108 | 4.88% |
| DuBois, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,639 | 4.75% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,730 | 6.63% |
| OCALA, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,771 | 4.88% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,656 | 4.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,520 | 4.25% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $4,927 | 5.00% |
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.
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Product Mix
For 2018, Acre Mortgage And Financial Inc's most frequently originated type of loan was FHA, with 543 originations. Their 2nd most popular type was Conventional, with 431 originations.
Loan Reason
For 2018, Acre Mortgage And Financial Inc's most frequently cited loan purpose was Home Purchase, with 946 originations. The 2nd most popular reason was Cash Out Refi, with 74 originations.
Loan Duration/Length
For 2018, Acre Mortgage And Financial Inc's most frequently cited loan duration was 30 Year, with 945 originations. The 2nd most popular length was 5 Year, with 79 originations.
Origination Fees/Closing Costs
Acre Mortgage And Financial Inc's average total fees were $6,669, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 339 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 551 | $113,785,000 | $206,506 |
| 5-6% | 374 | $70,020,000 | $187,219 |
| 3-4% | 19 | $4,085,000 | $215,000 |
| 6-7% | 19 | $2,505,000 | $131,842 |
| Over 8% | 1 | $135,000 | $135,000 |
During 2018, Acre Mortgage And Financial Inc's average interest rate for loans was 5.01%, while their most frequently originated rate bucket for loans was 4-5%, with 551 originations.
Loan Sizing
2018 saw Acre Mortgage And Financial Inc place emphasis on $100k-200k loans with 490 originations, totaling $73,960,000 in origination value.
Applicant Income
Acre Mortgage And Financial Inc lent most frequently to those with incomes in the $50k-75k range, with 393 originations. The second most popular income band? $50k or less, with 231 originations.
Applicant Debt to Income Ratio
Acre Mortgage And Financial Inc lent most frequently to those with DTI ratios of 50-60%, with 187 originations. The next most common DTI ratio? 30-36%, with 124 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.95%
Acre Mortgage And Financial Inc has an average approval rate.
Pick Rate
Approvals leading to origination86.85%
Acre Mortgage And Financial Inc has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 3 | $825,000 | $275,000 |
| 325.0 | 1 | $185,000 | $185,000 |
| NA | 1,053 | $190,925,000 | $181,315 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 1,057 | $191,935,000 | $181,585 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| ACRE MORTGAGE | FHA mortgage | Closing on a mortgage | 1 | 100.0% |