Chartwell Financial Mortgage Rates, Fees & Info
DOVER, DELEI: 254900O2VYWY7LKZ6T60
Tax ID: 27-0086543
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Mortgage Data
Review & Overview
Chartwell Financial is a smaller mortgage company specializing in Home Purchase loans. Chartwell Financial has a high proportion of conventional loans. Their top markets by origination volume include: Akron, Canton, Minneapolis, Grand Forks, and Columbus among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Chartwell Financial has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Purchase | 12.94% | 11/17/24 |
| 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. | ||
Chartwell Financial Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
44Origination Dollar Volume (All Markets)
$1,500,000Top 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 |
|---|---|---|---|---|---|
| AKRON, OH (FHA|USDA|VA) | 8 | $320,000 | $40,000 | $316 | 13.77% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 12 | $260,000 | $21,667 | $316 | 13.27% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 4 | $170,000 | $42,500 | $316 | 13.56% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 3 | $155,000 | $51,667 | $316 | 12.79% |
| COLUMBUS, IN (FHA|USDA|VA) | 5 | $135,000 | $27,000 | $316 | 13.08% |
| ANN ARBOR, MI (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $316 | 12.00% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $316 | 12.63% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 3 | $65,000 | $21,667 | $316 | 13.71% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $316 | 12.25% |
| MANKATO, MN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $316 | 11.50% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $316 | 14.38% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $316 | 14.50% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $316 | 14.63% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 44 | $1,500,000 | $34,091 | $316 | 13.30% |
For 2023, Chartwell Financial's most frequently originated type of loan was Conventional, with 44 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 44 | $1,500,000 | $34,091 | $316 | 13.30% |
For 2023, Chartwell Financial's most frequently cited loan purpose was Home Purchase, with 44 originations.
Loan Duration/Length
For 2023, Chartwell Financial's most frequently cited loan duration was 15 Year, with 25 originations. The 2nd most popular length was Other, with 12 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 44 | $1,500,000 | $34,091 |
Chartwell Financial's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 44 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 44 | $1,500,000 | $34,091 |
During 2023, Chartwell Financial's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 44 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 43 | $1,395,000 | $32,442 | $316 | 13.35% |
| $100k-200k | 1 | $105,000 | $105,000 | $316 | 11.13% |
2023 saw Chartwell Financial place emphasis on $100,000 or less loans with 43 originations, totaling $1,395,000 in origination value.
Applicant Income
Chartwell Financial lent most frequently to those with incomes in the $50k or less range, with 19 originations. The second most popular income band? $50k-75k, with 13 originations.
Applicant Debt to Income Ratio
Chartwell Financial lent most frequently to those with DTI ratios of 30-36%, with 14 originations. The next most common DTI ratio? 20-30%, with 11 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.69%
Chartwell Financial has a below average approval rate.
Pick Rate
Approvals leading to origination34.09%
Chartwell Financial 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 | 44 | $1,500,000 | $34,091 |