Credence Funding Corporation Mortgage Rates, Fees & Info

Aberdeen, MD

LEI: 254900HIDMT4ZG09RP47

Tax ID: 45-4414811

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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    • Mortgage Data

  • Originations
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  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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. They have a low ratio of USDA loans. Their top markets by origination volume include: Baltimore, Washington, Dallas, Atlanta, and Houston among others. We have data for 120 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 a below 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.46% 4/22/24
    30 Year Conventional Refi 6.27% 4/22/24
    30 Year Cash-out Refi 5.62% 4/22/24
    30 Year FHA Purchase 7.02% 4/22/24
    30 Year FHA Refi 6.65% 4/22/24
    30 Year VA Purchase 6.02% 4/22/24
    30 Year VA Refi 5.62% 4/22/24
    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

    611

    Origination Dollar Volume (All Markets)

    $183,745,000
    Show all (31) awards

    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) 70 $19,150,000 $273,571 $3,472 2.69%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 38 $17,740,000 $466,842 $4,051 2.61%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 43 $13,285,000 $308,953 $3,201 2.58%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 38 $9,650,000 $253,947 $3,020 2.66%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 26 $7,970,000 $306,538 $3,257 2.73%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 21 $6,775,000 $322,619 $4,390 2.79%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 22 $6,100,000 $277,273 $2,602 2.57%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 16 $4,710,000 $294,375 $2,564 2.61%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 18 $4,710,000 $261,667 $2,877 2.66%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 16 $4,580,000 $286,250 $2,689 2.51%
    JACKSONVILLE, FL (FHA|USDA|VA) 16 $4,580,000 $286,250 $2,663 2.55%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 10 $4,320,000 $432,000 $3,983 2.61%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 11 $4,215,000 $383,182 $2,821 2.64%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 10 $3,620,000 $362,000 $2,967 2.48%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 10 $3,450,000 $345,000 $3,854 2.70%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 12 $3,090,000 $257,500 $2,334 2.75%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 7 $2,625,000 $375,000 $3,033 2.46%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 9 $2,595,000 $288,333 $2,651 2.69%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 6 $2,590,000 $431,667 $1,952 2.69%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 9 $2,315,000 $257,222 $3,218 2.61%
    RICHMOND, VA (FHA|USDA|VA) 7 $2,125,000 $303,571 $3,440 2.63%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 6 $2,010,000 $335,000 $2,672 2.73%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $1,665,000 $555,000 $2,870 2.42%
    RALEIGH-CARY, NC (FHA|USDA|VA) 6 $1,650,000 $275,000 $4,273 2.58%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $1,585,000 $528,333 $3,689 2.63%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 4 $1,560,000 $390,000 $3,590 2.53%
    Outside of Metro Areas 5 $1,435,000 $287,000 $1,935 2.45%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 5 $1,385,000 $277,000 $4,912 2.65%
    FAYETTEVILLE, NC (FHA|USDA|VA) 6 $1,380,000 $230,000 $3,217 2.56%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 5 $1,365,000 $273,000 $3,411 3.10%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 4 $1,300,000 $325,000 $3,602 2.66%
    WINCHESTER, VA-WV (FHA|USDA|VA) 3 $1,245,000 $415,000 $2,600 2.50%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 5 $1,125,000 $225,000 $2,486 2.45%
    SALISBURY, MD-DE (FHA|USDA|VA) 3 $1,025,000 $341,667 $5,867 2.58%
    OCALA, FL (FHA|USDA|VA) 5 $1,005,000 $201,000 $2,106 2.98%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $995,000 $331,667 $2,682 2.58%
    KNOXVILLE, TN (FHA|USDA|VA) 4 $980,000 $245,000 $3,188 2.59%
    BOULDER, CO (FHA|USDA|VA) 1 $795,000 $795,000 $1,895 2.75%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $785,000 $785,000 $3,545 2.25%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 2 $760,000 $380,000 $5,907 2.63%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 3 $755,000 $251,667 $2,080 2.58%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 3 $755,000 $251,667 $3,082 2.58%
    DOVER, DE (FHA|USDA|VA) 3 $755,000 $251,667 $3,927 2.58%
    YUBA CITY, CA (FHA|USDA|VA) 2 $750,000 $375,000 $2,151 2.56%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $715,000 $238,333 $1,975 2.63%
    STOCKTON, CA (FHA|USDA|VA) 2 $710,000 $355,000 $4,237 2.94%
    SAVANNAH, GA (FHA|USDA|VA) 3 $705,000 $235,000 $2,421 2.58%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 3 $675,000 $225,000 $4,273 3.17%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $670,000 $335,000 $5,726 2.81%
    WILMINGTON, NC (FHA|USDA|VA) 2 $660,000 $330,000 $3,467 2.81%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $620,000 $310,000 $3,835 2.25%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $620,000 $310,000 $1,281 2.75%
    MORRISTOWN, TN (FHA|USDA|VA) 3 $615,000 $205,000 $2,736 2.83%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 2 $610,000 $305,000 $2,409 2.56%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $570,000 $285,000 $1,818 2.56%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 2 $570,000 $285,000 $4,913 3.13%
    Pinehurst-Southern Pines, NC (FHA|USDA|VA) 2 $530,000 $265,000 $3,910 2.88%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $510,000 $255,000 $3,335 2.56%
    Aberdeen, WA (FHA|USDA|VA) 2 $500,000 $250,000 $1,784 2.75%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $500,000 $250,000 $3,365 2.88%
    JACKSONVILLE, NC (FHA|USDA|VA) 3 $495,000 $165,000 $2,973 2.63%
    PANAMA CITY, FL (FHA|USDA|VA) 2 $480,000 $240,000 $1,917 2.50%
    BAKERSFIELD, CA (FHA|USDA|VA) 2 $470,000 $235,000 $3,138 2.75%
    WARNER ROBINS, GA (FHA|USDA|VA) 2 $440,000 $220,000 $2,651 2.75%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 3 $435,000 $145,000 $1,606 2.79%
    BELLINGHAM, WA (FHA|USDA|VA) 1 $425,000 $425,000 $3,299 2.75%
    Shelton, WA (FHA|USDA|VA) 2 $420,000 $210,000 $3,025 3.13%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 2 $420,000 $210,000 $3,163 2.75%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 2 $410,000 $205,000 $3,597 2.81%
    LUBBOCK, TX (FHA|USDA|VA) 2 $410,000 $205,000 $3,287 2.31%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $405,000 $405,000 $8,299 2.88%
    GETTYSBURG, PA (FHA|USDA|VA) 1 $405,000 $405,000 $3,098 2.25%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $400,000 $200,000 $2,159 3.19%
    PITTSBURGH, PA (FHA|USDA|VA) 2 $400,000 $200,000 $2,720 2.50%
    Brownwood, TX (FHA|USDA|VA) 1 $395,000 $395,000 $1,783 2.25%
    Sevierville, TN (FHA|USDA|VA) 1 $385,000 $385,000 $5,041 3.38%
    PUNTA GORDA, FL (FHA|USDA|VA) 2 $380,000 $190,000 $1,547 2.25%
    GREELEY, CO (FHA|USDA|VA) 1 $365,000 $365,000 $4,378 2.75%
    LONGVIEW, WA (FHA|USDA|VA) 1 $335,000 $335,000 $2,831 2.75%
    HARRISONBURG, VA (FHA|USDA|VA) 1 $325,000 $325,000 $4,156 3.13%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $325,000 $325,000 $2,852 2.75%
    EL PASO, TX (FHA|USDA|VA) 2 $320,000 $160,000 $1,389 2.63%
    Oak Harbor, WA (FHA|USDA|VA) 1 $305,000 $305,000 $3,492 3.38%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $285,000 $285,000 $2,408 2.75%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $265,000 $265,000 $6,094 2.75%
    VISALIA, CA (FHA|USDA|VA) 1 $265,000 $265,000 $3,405 2.25%
    WINSTON-SALEM, NC (FHA|USDA|VA) 1 $255,000 $255,000 $1,369 2.75%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $255,000 $255,000 $5,780 3.13%
    YAKIMA, WA (FHA|USDA|VA) 1 $255,000 $255,000 $3,525 2.75%
    BAY CITY, MI (FHA|USDA|VA) 1 $245,000 $245,000 $4,686 2.88%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $245,000 $245,000 $2,655 2.25%
    MADERA, CA (FHA|USDA|VA) 1 $245,000 $245,000 $1,101 2.75%
    ASHEVILLE, NC (FHA|USDA|VA) 1 $235,000 $235,000 $2,205 2.50%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $235,000 $235,000 $2,708 2.25%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $235,000 $235,000 $4,081 2.25%
    JACKSON, MI (FHA|USDA|VA) 1 $225,000 $225,000 $1,244 2.25%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $225,000 $225,000 $4,824 3.13%
    Wilson, NC (FHA|USDA|VA) 1 $225,000 $225,000 $4,226 2.75%
    BRUNSWICK, GA (FHA|USDA|VA) 1 $215,000 $215,000 $3,639 2.88%
    MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $215,000 $215,000 $2,851 2.25%
    GAINESVILLE, GA (FHA|USDA|VA) 1 $215,000 $215,000 $3,733 2.75%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $205,000 $205,000 $1,754 2.38%
    WACO, TX (FHA|USDA|VA) 1 $205,000 $205,000 $5,099 3.50%
    Jefferson, GA (FHA|USDA|VA) 1 $205,000 $205,000 $2,146 3.25%
    Athens, TX (FHA|USDA|VA) 1 $195,000 $195,000 $2,843 3.00%
    Centralia, WA (FHA|USDA|VA) 1 $195,000 $195,000 $2,099 2.75%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $195,000 $195,000 $3,308 3.50%
    Kerrville, TX (FHA|USDA|VA) 1 $195,000 $195,000 $2,357 2.75%
    Ottawa, IL (FHA|USDA|VA) 1 $185,000 $185,000 $2,258 2.75%
    KANKAKEE, IL (FHA|USDA|VA) 1 $185,000 $185,000 $2,259 2.25%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $185,000 $185,000 $3,513 2.88%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $175,000 $175,000 $1,638 2.25%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $175,000 $175,000 $2,636 2.88%
    OCEAN CITY, NJ (FHA|USDA|VA) 1 $165,000 $165,000 $1,629 3.00%
    AMARILLO, TX (FHA|USDA|VA) 1 $165,000 $165,000 $2,306 2.75%
    CARBONDALE-MARION, IL (FHA|USDA|VA) 1 $145,000 $145,000 $1,337 2.75%
    MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $135,000 $135,000 $2,027 2.75%
    HINESVILLE, GA (FHA|USDA|VA) 1 $125,000 $125,000 $1,520 2.25%
    COLUMBIA, SC (FHA|USDA|VA) 1 $105,000 $105,000 $2,604 2.88%
    GOLDSBORO, NC (FHA|USDA|VA) 1 $75,000 $75,000 $1,471 2.38%
    Credence Funding Corporation's top markets include Baltimore, Washington, Dallas, Atlanta, and Houston among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Credence Funding Corporation 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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    VA 491 $152,525,000 $310,642 $2,857 2.61%
    Conventional 57 $15,035,000 $263,772 $2,882 2.75%
    FHA 57 $14,835,000 $260,263 $6,026 2.94%
    USDA 6 $1,350,000 $225,000 $6,121 2.79%

    For 2020, Credence Funding Corporation's most frequently originated type of loan was VA, with 491 originations. Their 2nd most popular type was Conventional, with 57 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 579 $176,545,000 $304,914 $3,131 2.64%
    Home Purchase 17 $3,775,000 $222,059 $4,736 2.90%
    Cash Out Refi 14 $3,260,000 $232,857 $3,616 2.93%
    Other 1 $165,000 $165,000 $3,386 2.38%

    For 2020, Credence Funding Corporation's most frequently cited loan purpose was Refi, with 579 originations. The 2nd most popular reason was Home Purchase, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 589 $178,925,000 $303,778 $3,209 2.66%
    15 Year 9 $2,125,000 $236,111 $2,118 2.25%
    Other 8 $1,910,000 $238,750 $3,082 2.70%
    20 Year 5 $785,000 $157,000 $2,678 2.85%

    For 2020, Credence Funding Corporation's most frequently cited loan duration was 30 Year, with 589 originations. The 2nd most popular length was 15 Year, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 99 $26,575,000 $268,434
    $<1k 89 $23,095,000 $259,494
    $2k-3k 50 $14,970,000 $299,400
    $3k-4k 20 $7,920,000 $396,000
    $5k+ 11 $6,355,000 $577,727
    $4k-5k 6 $3,170,000 $528,333

    Credence Funding Corporation's average total fees were $3,209, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 99 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 278 $84,180,000 $302,806
    2.5-3% 251 $78,175,000 $311,454
    3-4% 78 $20,440,000 $262,051
    4-5% 4 $950,000 $237,500

    During 2020, Credence Funding Corporation's average interest rate for loans was 2.66%, while their most frequently originated rate bucket for loans was <2.5%, with 278 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 391 $110,645,000 $282,980 $3,133 2.64%
    $100k-200k 111 $18,975,000 $170,946 $2,602 2.73%
    $400k-600k 83 $38,975,000 $469,578 $3,771 2.65%
    $600k-1MM 21 $14,785,000 $704,048 $5,180 2.52%
    $100,000 or less 5 $365,000 $73,000 $2,356 3.08%

    2020 saw Credence Funding Corporation place emphasis on $200k-400k loans with 391 originations, totaling $110,645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 539 $164,735,000 $305,631 $3,137 2.63%
    $50k-75k 22 $4,550,000 $206,818 $3,955 2.69%
    $100k-150k 15 $4,305,000 $287,000 $3,701 2.91%
    $75k-100k 15 $3,175,000 $211,667 $3,095 2.94%
    $150k-250k 14 $4,880,000 $348,571 $3,451 2.80%
    $250k+ 6 $2,100,000 $350,000 $3,237 2.58%

    Credence Funding Corporation lent most frequently to those with incomes in the $50k or less range, with 539 originations. The second most popular income band? $50k-75k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 546 $167,220,000 $306,264 $3,134 2.63%
    20-30% 20 $5,620,000 $281,000 $3,114 2.63%
    30-36% 18 $4,130,000 $229,444 $3,403 2.91%
    42% 4 $990,000 $247,500 $3,826 2.91%
    50-60% 3 $825,000 $275,000 $6,968 3.00%
    38% 3 $935,000 $311,667 $3,217 2.67%
    43% 3 $505,000 $168,333 $3,070 2.83%
    37% 2 $340,000 $170,000 $4,054 2.69%
    36% 2 $580,000 $290,000 $7,281 3.88%
    48% 2 $580,000 $290,000 $5,383 2.75%
    40% 2 $520,000 $260,000 $2,382 2.50%
    41% 2 $600,000 $300,000 $2,380 2.69%
    39% 1 $275,000 $275,000 $3,431 2.88%
    44% 1 $135,000 $135,000 $2,711 2.50%
    46% 1 $295,000 $295,000 $5,073 3.00%
    47% 1 $195,000 $195,000 $3,407 3.50%

    Credence Funding Corporation lent most frequently to those with DTI ratios of <20%, with 546 originations. The next most common DTI ratio? 20-30%, with 20 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 288 $86,640,000 $300,833 $3,115 2.64%
    Not provided 191 $57,345,000 $300,236 $3,235 2.59%
    Black 111 $32,345,000 $291,396 $3,346 2.75%
    Asian 14 $5,280,000 $377,143 $3,221 2.80%
    Native Hawaiian or Islander 4 $1,170,000 $292,500 $2,666 2.88%
    American Indian 3 $965,000 $321,667 $1,740 3.63%

    Approval Rates

    Total approvals of all applications
    99.70%

    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
    89.69%

    Credence Funding Corporation has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 611 $183,745,000 $300,728

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $1,120,000 $186,667
    Single Family (1-4 Units):Site-Built 605 $182,625,000 $301,860

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $625,000 $125,000 $1,678 2.60%
    40-60% 14 $3,740,000 $267,143 $2,505 2.45%
    60-80% 67 $18,565,000 $277,090 $2,564 2.68%
    80-100% 447 $134,175,000 $300,168 $3,297 2.65%
    Over 100% 78 $26,640,000 $341,538 $3,312 2.71%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Credence Funding Corporation VA mortgage Trouble during payment process 1 50.0%
    Credence Funding Corporation VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%