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: Ann Arbor, Columbus, Mankato, Minneapolis, and Akron 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
68Origination Dollar Volume (All Markets)
$2,640,000Top 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 |
|---|---|---|---|---|---|
| ANN ARBOR, MI (FHA|USDA|VA) | 11 | $465,000 | $42,273 | $316 | 11.67% |
| COLUMBUS, IN (FHA|USDA|VA) | 11 | $415,000 | $37,727 | $312 | 10.69% |
| MANKATO, MN (FHA|USDA|VA) | 8 | $390,000 | $48,750 | $314 | 10.41% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 5 | $275,000 | $55,000 | $313 | 11.13% |
| AKRON, OH (FHA|USDA|VA) | 8 | $210,000 | $26,250 | $314 | 10.86% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 3 | $195,000 | $65,000 | $316 | 9.88% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 4 | $160,000 | $40,000 | $316 | 12.44% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 5 | $125,000 | $25,000 | $290 | 11.00% |
| Traverse City, MI (FHA|USDA|VA) | 4 | $120,000 | $30,000 | $312 | 11.44% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 4 | $120,000 | $30,000 | $308 | 10.41% |
| Red Wing, MN (FHA|USDA|VA) | 3 | $85,000 | $28,333 | $244 | 8.81% |
| Marshalltown, IA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $316 | 9.50% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $316 | 10.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 68 | $2,640,000 | $38,824 | $309 | 10.88% |
For 2022, Chartwell Financial's most frequently originated type of loan was Conventional, with 68 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 68 | $2,640,000 | $38,824 | $309 | 10.88% |
For 2022, Chartwell Financial's most frequently cited loan purpose was Home Purchase, with 68 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 44 | $2,190,000 | $49,773 | $313 | 10.78% |
| Other | 21 | $395,000 | $18,810 | $299 | 11.21% |
| 10 Year | 3 | $55,000 | $18,333 | $311 | 10.13% |
For 2022, Chartwell Financial's most frequently cited loan duration was 15 Year, with 44 originations. The 2nd most popular length was Other, with 21 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 68 | $2,640,000 | $38,824 |
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 68 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 67 | $2,625,000 | $39,179 |
| 7-8% | 1 | $15,000 | $15,000 |
During 2022, Chartwell Financial's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 67 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 68 | $2,640,000 | $38,824 | $309 | 10.88% |
2022 saw Chartwell Financial place emphasis on $100,000 or less loans with 68 originations, totaling $2,640,000 in origination value.
Applicant Income
Chartwell Financial lent most frequently to those with incomes in the $50k or less range, with 33 originations. The second most popular income band? $50k-75k, with 18 originations.
Applicant Debt to Income Ratio
Chartwell Financial lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? 30-36%, with 13 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications76.47%
Chartwell Financial has a below average approval rate.
Pick Rate
Approvals leading to origination55.88%
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 | 68 | $2,640,000 | $38,824 |