Credence Funding Corporation Mortgage Rates, Fees & Info
Aberdeen, MDLEI: 254900HIDMT4ZG09RP47
Tax ID: 45-4414811
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.46% | 5/28/23 |
| 30 Year Conventional Refi | 6.27% | 5/28/23 |
| 30 Year Cash-out Refi | 5.62% | 5/28/23 |
| 30 Year FHA Purchase | 7.02% | 5/28/23 |
| 30 Year FHA Refi | 6.65% | 5/28/23 |
| 30 Year VA Purchase | 6.02% | 5/28/23 |
| 30 Year VA Refi | 5.62% | 5/28/23 |
| 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. | ||
Credence Funding Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
187Origination Dollar Volume (All Markets)
$65,335,000Awards
Credence Funding Corporation - 2022
Credence Funding Corporation is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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% |
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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
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
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
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
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
2022 saw Credence Funding Corporation place emphasis on $200k-400k loans with 122 originations, totaling $36,040,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications100.00%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 187 | $65,335,000 | $349,385 |
LTV Distribution
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% |