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. 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, New York, Baltimore, Trenton, and Washington among others. We have data for 44 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
935Origination Dollar Volume (All Markets)
$242,625,000Top 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) | 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% |
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Product Mix
For 2021, Acre Mortgage And Financial Inc's most frequently originated type of loan was Conventional, with 538 originations. Their 2nd most popular type was FHA, with 358 originations.
Loan Reason
For 2021, Acre Mortgage And Financial Inc's most frequently cited loan purpose was Home Purchase, with 657 originations. The 2nd most popular reason was Cash Out Refi, with 156 originations.
Loan Duration/Length
For 2021, Acre Mortgage And Financial Inc's most frequently cited loan duration was 30 Year, with 847 originations. The 2nd most popular length was 15 Year, with 55 originations.
Origination Fees/Closing Costs
Acre Mortgage And Financial Inc's average total fees were $7,310, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 590 originations.
Interest Rates
During 2021, Acre Mortgage And Financial Inc's average interest rate for loans was 3.34%, while their most frequently originated rate bucket for loans was 3-4%, with 594 originations.
Loan Sizing
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
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
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
Approval Rates
Total approvals of all applications96.41%
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 origination65.35%
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 | 935 | $242,625,000 | $259,492 |
LTV Distribution
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% |