Credence Funding Corporation Mortgage Rates, Fees & Info

Aberdeen, MD

LEI: 254900HIDMT4ZG09RP47

Tax ID: 45-4414811

5 stars - Updated: 3/4/24 - out of 5 stars, based on 14 reviews

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

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Mortgage Data

Review & Overview

Credence Funding Corporation is a smaller mortgage company specializing in Refi and Cash Out Refi loans. They have an average proportion of FHA loans. Credence Funding Corporation has an average proportion of conventional loans. Their top markets by origination volume include: Atlanta, Washington, Dallas, Tampa, and Riverside among others. We have data for 79 markets. (Some data included below & more in-depth data is available with an active subscription.)

Credence Funding Corporation has an above average approval rate when compared to the average across all lenders. Credence Funding Corporation 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.

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 6.46% 3/4/24
30 Year Conventional Refi 6.27% 3/4/24
30 Year Cash-out Refi 5.62% 3/4/24
30 Year FHA Purchase 7.02% 3/4/24
30 Year FHA Refi 6.65% 3/4/24
30 Year VA Purchase 6.02% 3/4/24
30 Year VA Refi 5.62% 3/4/24
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.

Credence Funding Corporation Mortgage Calculator






Your Estimates

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

This is not an official calculator from Credence Funding Corporation. 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

187

Origination Dollar Volume (All Markets)

$65,335,000
Show all (19) awards

Relative Rate

Credence Funding Corporation's average 30 year fixed mortgage rate was 3.37%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -1.39%.

Relative Fees (Closing Costs)

Credence Funding Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $6,623.

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
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 16 $4,960,000 $310,000 $9,487 3.94%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 10 $4,910,000 $491,000 $6,601 3.79%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 10 $3,030,000 $303,000 $3,746 2.53%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 9 $2,535,000 $281,667 $4,077 3.60%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 4 $2,340,000 $585,000 $8,677 3.03%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 7 $2,285,000 $326,429 $3,302 2.82%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 5 $2,165,000 $433,000 $9,108 2.88%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 6 $2,100,000 $350,000 $11,911 4.44%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 5 $1,695,000 $339,000 $6,784 3.15%
Outside of Metro Areas 5 $1,565,000 $313,000 $5,017 3.18%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 4 $1,560,000 $390,000 $3,067 2.44%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 3 $1,515,000 $505,000 $8,419 3.08%
FAYETTEVILLE, NC (FHA|USDA|VA) 5 $1,365,000 $273,000 $4,628 3.40%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $1,360,000 $680,000 $6,014 3.56%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $1,340,000 $670,000 $13,153 3.44%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 5 $1,335,000 $267,000 $2,616 3.40%
COLORADO SPRINGS, CO (FHA|USDA|VA) 3 $1,235,000 $411,667 $3,704 2.50%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 5 $1,215,000 $243,000 $2,441 2.75%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 2 $1,100,000 $550,000 $6,382 2.25%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $940,000 $470,000 $4,731 4.75%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $930,000 $465,000 $6,226 2.81%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 3 $925,000 $308,333 $6,502 3.79%
HINESVILLE, GA (FHA|USDA|VA) 3 $895,000 $298,333 $4,974 3.08%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 3 $855,000 $285,000 $9,409 5.12%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 3 $845,000 $281,667 $9,659 3.96%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $800,000 $400,000 $3,103 2.25%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $710,000 $355,000 $10,795 3.38%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $680,000 $340,000 $6,617 3.31%
WINSTON-SALEM, NC (FHA|USDA|VA) 2 $680,000 $340,000 $8,409 4.13%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $675,000 $675,000 $36,235 4.38%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $655,000 $655,000 $5,139 3.13%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $635,000 $635,000 $12,226 2.75%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $610,000 $305,000 $6,043 3.25%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $605,000 $605,000 $13,505 2.25%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $595,000 $595,000 $19,100 4.25%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $590,000 $295,000 $3,161 2.31%
VALLEJO, CA (FHA|USDA|VA) 1 $565,000 $565,000 $11,062 3.88%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $530,000 $265,000 $4,758 2.81%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 2 $470,000 $235,000 $3,386 2.88%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $435,000 $435,000 $3,222 2.25%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $415,000 $415,000 $14,563 4.75%
EL PASO, TX (FHA|USDA|VA) 2 $400,000 $200,000 $3,907 2.63%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $395,000 $395,000 $3,393 3.25%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $385,000 $385,000 $18,757 5.00%
Jefferson, GA (FHA|USDA|VA) 1 $385,000 $385,000 $4,611 2.75%
COLUMBIA, SC (FHA|USDA|VA) 1 $375,000 $375,000 $9,404 5.00%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $365,000 $365,000 $9,679 3.75%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $365,000 $365,000 $5,502 2.25%
PANAMA CITY, FL (FHA|USDA|VA) 1 $365,000 $365,000 $4,559 2.38%
ROCKFORD, IL (FHA|USDA|VA) 1 $355,000 $355,000 $4,462 2.25%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $345,000 $345,000 $9,078 5.63%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $335,000 $335,000 $13,041 4.38%
MADERA, CA (FHA|USDA|VA) 1 $335,000 $335,000 $6,422 2.75%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $335,000 $335,000 $4,652 2.63%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $325,000 $325,000 $9,880 4.25%
Granbury, TX (FHA|USDA|VA) 1 $285,000 $285,000 $2,288 3.13%
Georgetown, SC (FHA|USDA|VA) 1 $275,000 $275,000 $14,494 5.13%
Orangeburg, SC (FHA|USDA|VA) 1 $275,000 $275,000 $3,498 3.50%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $275,000 $275,000 $2,643 2.25%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $265,000 $265,000 $12,911 5.13%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $265,000 $265,000 $9,221 4.75%
DOVER, DE (FHA|USDA|VA) 1 $265,000 $265,000 $3,134 2.63%
Talladega-Sylacauga, AL (FHA|USDA|VA) 1 $255,000 $255,000 $10,596 4.63%
YAKIMA, WA (FHA|USDA|VA) 1 $255,000 $255,000 $2,877 2.50%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $245,000 $245,000 $1,537 2.75%
PEORIA, IL (FHA|USDA|VA) 1 $245,000 $245,000 $1,605 2.25%
GAINESVILLE, FL (FHA|USDA|VA) 1 $245,000 $245,000 $1,664 2.25%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $235,000 $235,000 $7,172 4.75%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $225,000 $225,000 $7,412 3.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $225,000 $225,000 $2,620 2.75%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $225,000 $225,000 $1,575 3.88%
GOLDSBORO, NC (FHA|USDA|VA) 1 $215,000 $215,000 $3,029 2.88%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $215,000 $215,000 $1,924 2.25%
VALDOSTA, GA (FHA|USDA|VA) 1 $205,000 $205,000 $10,980 5.13%
GETTYSBURG, PA (FHA|USDA|VA) 1 $195,000 $195,000 $9,164 4.38%
Holland, MI (FHA|USDA|VA) 1 $195,000 $195,000 $3,708 3.88%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $195,000 $195,000 $5,390 5.50%
GADSDEN, AL (FHA|USDA|VA) 1 $185,000 $185,000 $8,790 5.50%
WACO, TX (FHA|USDA|VA) 1 $155,000 $155,000 $2,080 2.50%
Credence Funding Corporation's top markets include Atlanta, Washington, Dallas, Tampa, and Riverside among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Similar Lenders

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    VA 146 $52,180,000 $357,397 $5,022 3.01%
    FHA 31 $9,535,000 $307,581 $12,950 4.57%
    Conventional 10 $3,620,000 $362,000 $10,533 5.22%

    For 2022, Credence Funding Corporation's most frequently originated type of loan was VA, with 146 originations. Their 2nd most popular type was FHA, with 31 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 129 $46,095,000 $357,326 $4,180 2.70%
    Cash Out Refi 47 $14,585,000 $310,319 $12,391 4.88%
    Home Purchase 11 $4,655,000 $423,182 $12,102 5.11%

    For 2022, Credence Funding Corporation's most frequently cited loan purpose was Refi, with 129 originations. The 2nd most popular reason was Cash Out Refi, with 47 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 185 $64,805,000 $350,297 $6,623 3.37%
    20 Year 1 $185,000 $185,000 $8,790 5.50%
    Other 1 $345,000 $345,000 $9,078 5.63%

    For 2022, Credence Funding Corporation's most frequently cited loan duration was 30 Year, with 185 originations. The 2nd most popular length was 20 Year, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 51 $16,095,000 $315,588
    $5k+ 47 $17,355,000 $369,255
    $1k-2k 30 $10,350,000 $345,000
    $2k-3k 27 $9,685,000 $358,704
    $3k-4k 20 $7,540,000 $377,000
    $4k-5k 10 $3,800,000 $380,000

    Credence Funding Corporation's average total fees were $6,623, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 51 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 67 $25,605,000 $382,164
    4-5% 41 $14,035,000 $342,317
    2.5-3% 38 $11,920,000 $313,684
    3-4% 22 $8,200,000 $372,727
    5-6% 14 $3,830,000 $273,571
    6-7% 5 $1,745,000 $349,000

    During 2022, Credence Funding Corporation's average interest rate for loans was 3.37%, while their most frequently originated rate bucket for loans was <2.5%, with 67 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 122 $36,040,000 $295,410 $6,195 3.42%
    $400k-600k 35 $16,555,000 $473,000 $7,194 3.25%
    $100k-200k 17 $3,085,000 $181,471 $5,392 3.98%
    $600k-1MM 13 $9,655,000 $742,692 $11,002 2.70%

    2022 saw Credence Funding Corporation place emphasis on $200k-400k loans with 122 originations, totaling $36,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 16 $4,340,000 $271,250 $9,660 4.65%
    $75k-100k 13 $3,845,000 $295,769 $12,496 5.01%
    $100k-150k 12 $4,410,000 $367,500 $11,769 5.07%
    $150k-250k 10 $4,610,000 $461,000 $16,861 4.55%
    $50k or less 6 $1,240,000 $206,667 $10,763 5.02%
    $250k+ 3 $1,325,000 $441,667 $11,208 5.58%

    Credence Funding Corporation lent most frequently to those with incomes in the $50k-75k range, with 16 originations. The second most popular income band? $75k-100k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 130 $46,280,000 $356,000 $4,179 2.73%
    50-60% 14 $4,120,000 $294,286 $12,105 4.88%
    30-36% 6 $2,410,000 $401,667 $13,869 5.10%
    49% 4 $1,720,000 $430,000 $17,116 4.56%
    46% 4 $1,390,000 $347,500 $13,347 4.88%
    45% 4 $1,070,000 $267,500 $8,017 5.34%
    38% 4 $1,320,000 $330,000 $12,905 5.22%
    20-30% 4 $1,620,000 $405,000 $12,092 4.53%
    44% 4 $1,190,000 $297,500 $9,458 4.65%
    43% 3 $735,000 $245,000 $12,023 4.96%
    42% 2 $610,000 $305,000 $11,964 4.69%
    40% 2 $940,000 $470,000 $17,058 4.56%
    48% 2 $760,000 $380,000 $5,717 5.44%
    39% 2 $450,000 $225,000 $10,368 5.19%
    37% 1 $355,000 $355,000 $17,477 4.75%
    >60% 1 $365,000 $365,000 $6,800 4.38%

    Credence Funding Corporation lent most frequently to those with DTI ratios of <20%, with 130 originations. The next most common DTI ratio? 50-60%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 82 $28,370,000 $345,976 $8,078 3.76%
    White 74 $26,930,000 $363,919 $5,680 3.03%
    Black 28 $8,930,000 $318,929 $5,006 3.27%
    Native Hawaiian or Islander 1 $565,000 $565,000 $14,878 4.50%
    American Indian 1 $285,000 $285,000 $2,288 3.13%
    Asian 1 $255,000 $255,000 $3,057 2.75%

    Approval Rates

    Total approvals of all applications
    100.00%

    Credence Funding Corporation 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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 187 $65,335,000 $349,385

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    187 $65,335,000 $349,385

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $205,000 $205,000 $11,096 4.50%
    40-60% 10 $2,610,000 $261,000 $6,582 3.70%
    60-80% 28 $7,790,000 $278,214 $9,407 3.97%
    80-100% 145 $53,795,000 $371,000 $6,100 3.26%
    Over 100% 3 $935,000 $311,667 $5,798 2.63%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    CARDINAL FINANCIAL COMPANY Conventional home mortgage Struggling to pay mortgage 1 12.5%
    CARDINAL FINANCIAL COMPANY FHA mortgage Struggling to pay mortgage 1 12.5%
    CARDINAL FINANCIAL COMPANY FHA mortgage Trouble during payment process 2 25.0%
    CARDINAL FINANCIAL COMPANY Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 12.5%
    CARDINAL FINANCIAL COMPANY VA mortgage Closing on a mortgage 1 12.5%
    CARDINAL FINANCIAL COMPANY VA mortgage Trouble during payment process 2 25.0%