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: Minneapolis, Mankato, Columbus, Ann Arbor, and Phoenix among others. We have data for 16 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% | 11/21/24 |
| 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
122Origination Dollar Volume (All Markets)
$5,000,000Top 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 15 | $865,000 | $57,667 | $300 | 8.85% |
| MANKATO, MN (FHA|USDA|VA) | 15 | $765,000 | $51,000 | $300 | 9.48% |
| COLUMBUS, IN (FHA|USDA|VA) | 18 | $720,000 | $40,000 | $300 | 9.99% |
| ANN ARBOR, MI (FHA|USDA|VA) | 13 | $695,000 | $53,462 | $300 | 9.34% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 20 | $480,000 | $24,000 | $298 | 10.40% |
| AKRON, OH (FHA|USDA|VA) | 10 | $260,000 | $26,000 | $300 | 10.48% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 4 | $240,000 | $60,000 | $300 | 9.13% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 3 | $175,000 | $58,333 | $300 | 8.67% |
| Red Wing, MN (FHA|USDA|VA) | 3 | $145,000 | $48,333 | $300 | 9.88% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 3 | $145,000 | $48,333 | $300 | 9.25% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 5 | $135,000 | $27,000 | $270 | 10.50% |
| Traverse City, MI (FHA|USDA|VA) | 3 | $105,000 | $35,000 | $300 | 10.50% |
| READING, PA (FHA|USDA|VA) | 3 | $95,000 | $31,667 | $300 | 10.50% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 4 | $90,000 | $22,500 | $275 | 10.34% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $300 | 8.50% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 2 | $30,000 | $15,000 | $300 | 11.13% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 122 | $5,000,000 | $40,984 | $298 | 9.81% |
For 2021, Chartwell Financial's most frequently originated type of loan was Conventional, with 122 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 122 | $5,000,000 | $40,984 | $298 | 9.81% |
For 2021, Chartwell Financial's most frequently cited loan purpose was Home Purchase, with 122 originations.
Loan Duration/Length
For 2021, Chartwell Financial's most frequently cited loan duration was 15 Year, with 82 originations. The 2nd most popular length was Other, with 29 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 122 | $5,000,000 | $40,984 |
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 122 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 122 | $5,000,000 | $40,984 |
During 2021, Chartwell Financial's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 122 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 122 | $5,000,000 | $40,984 | $298 | 9.81% |
2021 saw Chartwell Financial place emphasis on $100,000 or less loans with 122 originations, totaling $5,000,000 in origination value.
Applicant Income
Chartwell Financial lent most frequently to those with incomes in the $50k or less range, with 57 originations. The second most popular income band? $50k-75k, with 40 originations.
Applicant Debt to Income Ratio
Chartwell Financial lent most frequently to those with DTI ratios of 30-36%, with 31 originations. The next most common DTI ratio? 20-30%, with 28 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.43%
Chartwell Financial has an average approval rate.
Pick Rate
Approvals leading to origination64.75%
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 | 122 | $5,000,000 | $40,984 |