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 loans. Credence Funding Corporation has an average proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Baltimore, Washington, Atlanta, San Antonio, and Dallas among others. We have data for 101 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. They have an above average pick rate when compared to similar lenders. Credence Funding Corporation is typically a low 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 | 6.66% | 4/19/25 |
30 Year FHA Purchase | 7.32% | 4/19/25 |
30 Year FHA Refi | 6.75% | 4/19/25 |
30 Year VA Purchase | 5.93% | 4/19/25 |
30 Year VA Refi | 5.84% | 4/19/25 |
15 Year Conventional Purchase | 5.42% | 4/19/25 |
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
439Origination Dollar Volume (All Markets)
$140,295,000Credence Funding Corporation - 2021
Credence Funding Corporation is a 2021 , due to their low .
For 2021, 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 |
---|---|---|---|---|---|
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 39 | $13,405,000 | $343,718 | $4,476 | 2.54% |
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 30 | $12,990,000 | $433,000 | $4,370 | 2.52% |
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 21 | $7,195,000 | $342,619 | $3,639 | 2.39% |
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 22 | $6,780,000 | $308,182 | $3,835 | 2.41% |
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 21 | $6,585,000 | $313,571 | $3,002 | 2.40% |
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 22 | $5,420,000 | $246,364 | $3,929 | 2.66% |
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 14 | $5,410,000 | $386,429 | $3,676 | 2.29% |
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 15 | $4,355,000 | $290,333 | $3,122 | 2.52% |
RALEIGH-CARY, NC (FHA|USDA|VA) | 13 | $3,875,000 | $298,077 | $3,617 | 2.37% |
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 11 | $3,245,000 | $295,000 | $2,483 | 2.28% |
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 11 | $3,145,000 | $285,909 | $3,350 | 2.31% |
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 7 | $2,935,000 | $419,286 | $3,159 | 2.32% |
JACKSONVILLE, FL (FHA|USDA|VA) | 9 | $2,865,000 | $318,333 | $2,648 | 2.29% |
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 7 | $2,825,000 | $403,571 | $3,460 | 2.34% |
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 11 | $2,785,000 | $253,182 | $2,893 | 2.64% |
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 7 | $2,725,000 | $389,286 | $3,365 | 2.36% |
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 9 | $2,575,000 | $286,111 | $3,251 | 2.39% |
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 8 | $2,430,000 | $303,750 | $2,446 | 2.34% |
Outside of Metro Areas | 8 | $2,240,000 | $280,000 | $2,925 | 2.55% |
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 5 | $2,165,000 | $433,000 | $5,594 | 2.25% |
KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 9 | $2,155,000 | $239,444 | $2,201 | 2.29% |
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 5 | $1,925,000 | $385,000 | $3,919 | 2.30% |
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 7 | $1,775,000 | $253,571 | $3,416 | 2.27% |
FAYETTEVILLE, NC (FHA|USDA|VA) | 7 | $1,545,000 | $220,714 | $3,091 | 2.29% |
HINESVILLE, GA (FHA|USDA|VA) | 6 | $1,330,000 | $221,667 | $2,054 | 2.25% |
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 4 | $1,270,000 | $317,500 | $4,875 | 2.44% |
ST. LOUIS, MO-IL (FHA|USDA|VA) | 3 | $1,195,000 | $398,333 | $2,346 | 2.17% |
COLORADO SPRINGS, CO (FHA|USDA|VA) | 3 | $1,135,000 | $378,333 | $1,989 | 2.25% |
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $1,120,000 | $560,000 | $4,093 | 2.25% |
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 4 | $1,100,000 | $275,000 | $3,606 | 2.38% |
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $1,090,000 | $545,000 | $2,354 | 2.25% |
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 2 | $1,000,000 | $500,000 | $5,652 | 2.00% |
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $900,000 | $450,000 | $3,933 | 2.25% |
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $875,000 | $291,667 | $4,906 | 2.63% |
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $865,000 | $865,000 | $1,186 | 2.50% |
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $4,527 | 2.44% |
STOCKTON, CA (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $14,430 | 2.25% |
BAKERSFIELD, CA (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $1,501 | 2.38% |
PITTSBURGH, PA (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $5,449 | 2.50% |
SALISBURY, MD-DE (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $3,027 | 2.42% |
EL PASO, TX (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $2,303 | 2.25% |
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $3,840 | 3.06% |
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $735,000 | $735,000 | $3,831 | 2.88% |
JACKSONVILLE, NC (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $3,329 | 2.17% |
DOVER, DE (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $3,165 | 2.31% |
YORK-HANOVER, PA (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $4,308 | 2.50% |
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $1,758 | 2.25% |
CHATTANOOGA, TN-GA (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $3,351 | 2.87% |
PUEBLO, CO (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $2,297 | 2.38% |
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $4,113 | 2.25% |
RICHMOND, VA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $4,476 | 2.25% |
CLARKSVILLE, TN-KY (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $2,759 | 2.25% |
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $2,216 | 2.12% |
SAVANNAH, GA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $3,188 | 2.31% |
TEXARKANA, TX-AR (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $1,695 | 2.25% |
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $4,546 | 2.81% |
FORT COLLINS, CO (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $1,885 | 2.25% |
Statesboro, GA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $2,242 | 2.25% |
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $4,054 | 2.25% |
ROANOKE, VA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,152 | 2.25% |
ASHEVILLE, NC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,666 | 2.25% |
Crossville, TN (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,148 | 2.38% |
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,564 | 2.50% |
VALLEJO, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,272 | 2.25% |
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,094 | 2.25% |
GREELEY, CO (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,634 | 2.25% |
HARRISONBURG, VA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,321 | 2.25% |
CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,025 | 2.25% |
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,565 | 3.00% |
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $1,391 | 2.25% |
FRESNO, CA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,370 | 2.00% |
OCALA, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $1,259 | 2.25% |
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $2,950 | 2.25% |
Centralia, WA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $5,259 | 2.75% |
TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $1,515 | 2.25% |
GAINESVILLE, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,604 | 2.25% |
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,788 | 2.25% |
GREENVILLE, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,804 | 1.88% |
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,466 | 2.38% |
SAN ANGELO, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,873 | 2.99% |
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,634 | 3.25% |
AMARILLO, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $1,108 | 2.25% |
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,669 | 2.38% |
NEW BERN, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,489 | 2.25% |
PEORIA, IL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $15,928 | 2.25% |
MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,971 | 2.99% |
SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,027 | 2.38% |
ANN ARBOR, MI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,730 | 2.75% |
KNOXVILLE, TN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $1,674 | 2.25% |
STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,572 | 2.25% |
WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,872 | 3.13% |
Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,231 | 2.25% |
Cornelia, GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $1,244 | 2.38% |
MONROE, MI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,412 | 2.25% |
BLOOMINGTON, IL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,725 | 2.25% |
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,723 | 2.88% |
LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,149 | 2.50% |
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,661 | 2.88% |
MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $971 | 2.63% |
COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,787 | 3.25% |
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,285 | 3.00% |
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Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
VA | 325 | $108,205,000 | $332,938 | $3,060 | 2.31% |
Conventional | 77 | $21,745,000 | $282,403 | $4,206 | 2.80% |
FHA | 37 | $10,345,000 | $279,595 | $6,530 | 2.57% |
For 2021, Credence Funding Corporation's most frequently originated type of loan was VA, with 325 originations. Their 2nd most popular type was Conventional, with 77 originations.
Loan Reason
For 2021, Credence Funding Corporation's most frequently cited loan purpose was Refi, with 375 originations. The 2nd most popular reason was Cash Out Refi, with 36 originations.
Loan Duration/Length
For 2021, Credence Funding Corporation's most frequently cited loan duration was 30 Year, with 413 originations. The 2nd most popular length was 15 Year, with 15 originations.
Origination Fees/Closing Costs
Credence Funding Corporation's average total fees were $3,588, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 189 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
<2.5% | 336 | $111,090,000 | $330,625 |
2.5-3% | 78 | $22,520,000 | $288,718 |
3-4% | 25 | $6,685,000 | $267,400 |
During 2021, Credence Funding Corporation's average interest rate for loans was 2.42%, while their most frequently originated rate bucket for loans was <2.5%, with 336 originations.
Loan Sizing
2021 saw Credence Funding Corporation place emphasis on $200k-400k loans with 298 originations, totaling $86,180,000 in origination value.
Applicant Income
Credence Funding Corporation lent most frequently to those with incomes in the $50k or less range, with 148 originations. The second most popular income band? $75k-100k, with 27 originations.
Applicant Debt to Income Ratio
Credence Funding Corporation lent most frequently to those with DTI ratios of <20%, with 337 originations. The next most common DTI ratio? 20-30%, with 23 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.79%
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 origination90.43%
Credence Funding Corporation has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 439 | $140,295,000 | $319,579 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
CARDINAL FINANCIAL COMPANY | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 28 | 24.6% |
CARDINAL FINANCIAL COMPANY | Conventional home mortgage | Closing on a mortgage | 14 | 12.3% |
CARDINAL FINANCIAL COMPANY | Conventional home mortgage | Improper use of your report | 1 | 0.9% |
CARDINAL FINANCIAL COMPANY | Conventional home mortgage | Struggling to pay mortgage | 1 | 0.9% |
CARDINAL FINANCIAL COMPANY | Conventional home mortgage | Trouble during payment process | 31 | 27.2% |
CARDINAL FINANCIAL COMPANY | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 5 | 4.4% |
CARDINAL FINANCIAL COMPANY | FHA mortgage | Closing on a mortgage | 4 | 3.5% |
CARDINAL FINANCIAL COMPANY | FHA mortgage | Struggling to pay mortgage | 3 | 2.6% |
CARDINAL FINANCIAL COMPANY | FHA mortgage | Trouble during payment process | 6 | 5.3% |
CARDINAL FINANCIAL COMPANY | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 0.9% |
CARDINAL FINANCIAL COMPANY | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 2.6% |
CARDINAL FINANCIAL COMPANY | Other type of mortgage | Struggling to pay mortgage | 1 | 0.9% |
CARDINAL FINANCIAL COMPANY | Other type of mortgage | Trouble during payment process | 2 | 1.8% |
CARDINAL FINANCIAL COMPANY | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 0.9% |
CARDINAL FINANCIAL COMPANY | VA mortgage | Closing on a mortgage | 1 | 0.9% |
CARDINAL FINANCIAL COMPANY | VA mortgage | Struggling to pay mortgage | 4 | 3.5% |
CARDINAL FINANCIAL COMPANY | VA mortgage | Trouble during payment process | 8 | 7.0% |