Philadelphia Mortgage Advisors Rates, Fees & Info
Plymouth Meeting, PALEI: 254900VXX8ZL7L9EX282
Tax ID: 20-5604550
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Mortgage Data
Review & Overview
Philadelphia Mortgage Advisors is a smaller mortgage company specializing in Home Purchase and Refi loans. Philadelphia Mortgage Advisors has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Philadelphia, Ocean City, New York, Reading, and Atlantic City among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)Philadelphia Mortgage Advisors 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. Philadelphia Mortgage Advisors is typically an average 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 | 6.55% | 12/16/24 |
| 30 Year Conventional Refi | 6.37% | 12/16/24 |
| 30 Year Cash-out Refi | 6.47% | 12/16/24 |
| 30 Year FHA Purchase | 7.42% | 12/16/24 |
| 30 Year VA Purchase | 6.56% | 12/16/24 |
| 30 Year USDA Purchase | 6.36% | 12/16/24 |
| 15 Year Conventional Purchase | 5.91% | 12/16/24 |
| 15 Year Conventional Refi | 6.21% | 12/16/24 |
| 15 Year Cash-out Refi | 6.21% | 12/16/24 |
| 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. | ||
Philadelphia Mortgage Advisors Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,384Origination Dollar Volume (All Markets)
$413,160,000Awards
Philadelphia Mortgage Advisors - 2021
Philadelphia Mortgage Advisors 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 |
|---|---|---|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1,190 | $354,790,000 | $298,143 | $5,035 | 2.78% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 52 | $20,590,000 | $395,962 | $5,121 | 3.04% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 31 | $8,275,000 | $266,935 | $3,892 | 2.89% |
| READING, PA (FHA|USDA|VA) | 30 | $6,840,000 | $228,000 | $4,665 | 2.91% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 19 | $5,355,000 | $281,842 | $4,148 | 2.98% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 8 | $3,160,000 | $395,000 | $2,553 | 2.77% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 5 | $1,495,000 | $299,000 | $1,778 | 2.78% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 8 | $1,340,000 | $167,500 | $5,532 | 2.94% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 5 | $1,285,000 | $257,000 | $4,967 | 3.07% |
| Outside of Metro Areas | 5 | $1,255,000 | $251,000 | $4,168 | 3.10% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 4 | $1,180,000 | $295,000 | $3,024 | 2.91% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $2,686 | 2.83% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $1,080,000 | $270,000 | $1,388 | 3.03% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $5,380 | 3.00% |
| LANCASTER, PA (FHA|USDA|VA) | 4 | $740,000 | $185,000 | $3,703 | 2.28% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $4,341 | 3.13% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $3,061 | 2.88% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $3,317 | 3.13% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $5,284 | 2.99% |
| PITTSBURGH, PA (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $3,971 | 3.25% |
| DOVER, DE (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,179 | 2.87% |
| Easton, MD (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $1,176 | 2.88% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,430 | 2.63% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $7,215 | 3.13% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,464 | 3.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against Philadelphia Mortgage Advisors 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
For 2021, Philadelphia Mortgage Advisors's most frequently originated type of loan was Conventional, with 1,274 originations. Their 2nd most popular type was FHA, with 83 originations.
Loan Reason
For 2021, Philadelphia Mortgage Advisors's most frequently cited loan purpose was Home Purchase, with 859 originations. The 2nd most popular reason was Refi, with 426 originations.
Loan Duration/Length
For 2021, Philadelphia Mortgage Advisors's most frequently cited loan duration was 30 Year, with 1,067 originations. The 2nd most popular length was Other, with 109 originations.
Origination Fees/Closing Costs
Philadelphia Mortgage Advisors's average total fees were $5,490, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 717 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 677 | $218,015,000 | $322,031 |
| 3-4% | 519 | $161,715,000 | $311,590 |
| <2.5% | 184 | $32,770,000 | $178,098 |
| 4-5% | 4 | $660,000 | $165,000 |
During 2021, Philadelphia Mortgage Advisors's average interest rate for loans was 3.05%, while their most frequently originated rate bucket for loans was 2.5-3%, with 677 originations.
Loan Sizing
2021 saw Philadelphia Mortgage Advisors place emphasis on $200k-400k loans with 709 originations, totaling $202,745,000 in origination value.
Applicant Income
Philadelphia Mortgage Advisors lent most frequently to those with incomes in the $100k-150k range, with 329 originations. The second most popular income band? $50k-75k, with 284 originations.
Applicant Debt to Income Ratio
Philadelphia Mortgage Advisors lent most frequently to those with DTI ratios of 20-30%, with 379 originations. The next most common DTI ratio? 30-36%, with 287 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.52%
Philadelphia Mortgage Advisors has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination89.52%
Philadelphia Mortgage Advisors has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,384 | $413,160,000 | $298,526 |