Mortgage America Rates, Fees & Info

Whitehall, PA

LEI: 5493000GQ5D5YW5QID32

Tax ID: 23-2551885

5 stars - Updated: 5/27/24 - out of 5 stars, based on 39 reviews

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

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Mortgage Data

Review & Overview

Mortgage America is a smaller mortgage company specializing in Home Purchase loans. Mortgage America has a high 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: Philadelphia, Reading, Allentown, Pottsville, and Harrisburg among others. We have data for 30 markets. (Some data included below & more in-depth data is available with an active subscription.)

Mortgage America 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. Mortgage America 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 relatively high 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.74% 5/27/24
30 Year Conventional Refi 6.56% 5/27/24
30 Year Cash-out Refi 6.93% 5/27/24
30 Year FHA Purchase 7.50% 5/27/24
30 Year FHA Refi 7.33% 5/27/24
30 Year VA Purchase 6.30% 5/27/24
30 Year VA Refi 5.55% 5/27/24
30 Year USDA Purchase 7.10% 5/27/24
15 Year Conventional Purchase 6.15% 5/27/24
15 Year Conventional Refi 5.99% 5/27/24
15 Year Cash-out Refi 5.99% 5/27/24
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.

Mortgage America Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Mortgage America. 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

1,550

Origination Dollar Volume (All Markets)

$403,810,000
Show all (5) awards

Relative Rate

Mortgage America's average 30 year fixed mortgage rate was 6.71%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.23%.

Relative Fees (Closing Costs)

Mortgage America's average total fees/closing costs for a 30 year fixed rate mortgage were $7,054.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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) 546 $178,360,000 $326,667 $7,446 6.66%
READING, PA (FHA|USDA|VA) 363 $84,015,000 $231,446 $7,292 6.68%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 273 $68,995,000 $252,729 $7,026 6.76%
Pottsville, PA (FHA|USDA|VA) 147 $22,165,000 $150,782 $5,766 6.74%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 84 $17,720,000 $210,952 $5,906 6.74%
LEBANON, PA (FHA|USDA|VA) 19 $4,725,000 $248,684 $8,018 6.57%
LANCASTER, PA (FHA|USDA|VA) 15 $3,805,000 $253,667 $8,236 6.68%
EAST STROUDSBURG, PA (FHA|USDA|VA) 12 $2,820,000 $235,000 $6,722 6.75%
Sunbury, PA (FHA|USDA|VA) 19 $2,575,000 $135,526 $5,015 6.43%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 8 $2,540,000 $317,500 $9,747 7.08%
YORK-HANOVER, PA (FHA|USDA|VA) 8 $2,220,000 $277,500 $6,283 6.86%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $1,640,000 $820,000 $11,846 7.06%
Outside of Metro Areas 7 $1,565,000 $223,571 $6,647 6.64%
OCEAN CITY, NJ (FHA|USDA|VA) 3 $1,475,000 $491,667 $5,486 6.29%
Selinsgrove, PA (FHA|USDA|VA) 8 $1,450,000 $181,250 $4,491 6.33%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 8 $1,440,000 $180,000 $5,431 6.98%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 8 $1,420,000 $177,500 $5,884 6.55%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 3 $815,000 $271,667 $5,132 6.63%
PITTSBURGH, PA (FHA|USDA|VA) 4 $660,000 $165,000 $5,231 6.91%
GETTYSBURG, PA (FHA|USDA|VA) 1 $615,000 $615,000 $29,156 5.75%
Lewisburg, PA (FHA|USDA|VA) 3 $585,000 $195,000 $5,475 6.63%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $435,000 $435,000 $4,274 6.88%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $365,000 $365,000 $4,953 6.88%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $315,000 $315,000 $7,515 6.38%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $235,000 $235,000 $10,392 7.50%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $215,000 $215,000 $4,040 7.25%
WILLIAMSPORT, PA (FHA|USDA|VA) 1 $215,000 $215,000 $5,064 6.75%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $185,000 $185,000 $10,328 7.13%
Lewistown, PA (FHA|USDA|VA) 1 $175,000 $175,000 $4,154 7.13%
JOHNSTOWN, PA (FHA|USDA|VA) 1 $65,000 $65,000 $3,981 6.75%
Mortgage America's top markets include Philadelphia, Reading, Allentown, Pottsville, and Harrisburg among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Mortgage America based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Republic Bank
    Similarity Rank: 21
    First Columbia Bank & Trust Co.
    Similarity Rank: 80
    N C P D Federal Credit Union
    Similarity Rank: 126
    County Savings Bank
    Similarity Rank: 135
    LEBANON
    Similarity Rank: 156
    GREATER ALLIANCE
    Similarity Rank: 168
    Blue Foundry Bank
    Similarity Rank: 188

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,225 $330,945,000 $270,159 $6,581 6.75%
    FHA 252 $54,430,000 $215,992 $8,847 6.54%
    VA 43 $13,975,000 $325,000 $10,098 6.44%
    USDA 30 $4,460,000 $148,667 $5,794 6.31%

    For 2023, Mortgage America's most frequently originated type of loan was Conventional, with 1,225 originations. Their 2nd most popular type was FHA, with 252 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,461 $383,035,000 $262,173 $6,996 6.69%
    Cash Out Refi 52 $11,070,000 $212,885 $7,839 6.78%
    Refi 37 $9,705,000 $262,297 $7,464 6.59%

    For 2023, Mortgage America's most frequently cited loan purpose was Home Purchase, with 1,461 originations. The 2nd most popular reason was Cash Out Refi, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,527 $397,985,000 $260,632 $7,054 6.71%
    15 Year 19 $4,735,000 $249,211 $5,888 5.88%
    20 Year 3 $785,000 $261,667 $5,176 6.08%
    10 Year 1 $305,000 $305,000 $4,035 5.38%

    For 2023, Mortgage America's most frequently cited loan duration was 30 Year, with 1,527 originations. The 2nd most popular length was 15 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 475 $104,655,000 $220,326
    $<1k 378 $95,680,000 $253,122
    $5k+ 223 $80,455,000 $360,785
    $2k-3k 168 $39,520,000 $235,238
    $3k-4k 159 $38,395,000 $241,478
    $4k-5k 139 $43,255,000 $311,187

    Mortgage America's average total fees were $7,054, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 475 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 860 $219,150,000 $254,826
    7-8% 430 $119,940,000 $278,930
    5-6% 239 $58,715,000 $245,669
    Over 8% 16 $4,050,000 $253,125
    4-5% 4 $1,570,000 $392,500
    3-4% 1 $385,000 $385,000

    During 2023, Mortgage America's average interest rate for loans was 6.71%, while their most frequently originated rate bucket for loans was 6-7%, with 860 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 777 $216,645,000 $278,822 $7,574 6.76%
    $100k-200k 463 $72,255,000 $156,058 $5,511 6.60%
    $400k-600k 181 $85,075,000 $470,028 $9,355 6.69%
    $100,000 or less 98 $7,530,000 $76,837 $4,414 6.64%
    $600k-1MM 28 $18,820,000 $672,143 $10,456 6.66%
    $1MM+ 3 $3,485,000 $1,161,667 $15,265 6.88%

    2023 saw Mortgage America place emphasis on $200k-400k loans with 777 originations, totaling $216,645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 392 $113,660,000 $289,949 $7,452 6.81%
    $50k-75k 335 $62,445,000 $186,403 $5,978 6.54%
    $75k-100k 326 $79,400,000 $243,558 $7,039 6.65%
    $150k-250k 242 $88,550,000 $365,909 $8,501 6.79%
    $50k or less 169 $21,525,000 $127,367 $5,255 6.54%
    $250k+ 86 $38,230,000 $444,535 $8,630 6.94%

    Mortgage America lent most frequently to those with incomes in the $100k-150k range, with 392 originations. The second most popular income band? $50k-75k, with 335 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 298 $75,710,000 $254,060 $6,419 6.65%
    30-36% 279 $76,425,000 $273,925 $6,997 6.70%
    44% 86 $21,770,000 $253,140 $7,694 6.66%
    43% 83 $22,005,000 $265,120 $7,357 6.78%
    49% 74 $20,970,000 $283,378 $7,197 6.70%
    41% 73 $17,095,000 $234,178 $7,116 6.71%
    48% 71 $17,925,000 $252,465 $6,998 6.74%
    39% 67 $16,495,000 $246,194 $6,944 6.74%
    38% 64 $16,940,000 $264,688 $6,907 6.68%
    <20% 60 $13,950,000 $232,500 $5,754 6.62%
    40% 58 $14,460,000 $249,310 $7,125 6.65%
    42% 57 $15,265,000 $267,807 $7,001 6.84%
    37% 57 $16,395,000 $287,632 $7,129 6.72%
    45% 55 $14,335,000 $260,636 $6,942 6.77%
    47% 48 $12,220,000 $254,583 $7,307 6.80%
    46% 43 $11,255,000 $261,744 $6,814 6.74%
    36% 41 $10,535,000 $256,951 $7,664 6.48%
    50-60% 35 $9,865,000 $281,857 $11,405 6.53%

    Mortgage America lent most frequently to those with DTI ratios of 20-30%, with 298 originations. The next most common DTI ratio? 30-36%, with 279 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,402 $361,970,000 $258,181 $7,000 6.69%
    Asian 59 $18,335,000 $310,763 $6,875 6.75%
    Black 59 $16,105,000 $272,966 $8,177 6.77%
    Not provided 24 $5,910,000 $246,250 $6,627 6.79%
    American Indian 4 $970,000 $242,500 $6,443 6.66%
    Native Hawaiian or Islander 2 $520,000 $260,000 $7,445 6.56%

    Approval Rates

    Total approvals of all applications
    98.39%

    Mortgage America 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
    78.97%

    Mortgage America has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,550 $403,810,000 $260,523

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,550 $403,810,000 $260,523

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $5,930,000 $164,722 $5,037 6.50%
    40-60% 108 $24,260,000 $224,630 $5,974 6.55%
    60-80% 366 $96,950,000 $264,891 $6,968 6.74%
    80-100% 1,027 $272,665,000 $265,497 $7,157 6.70%
    Over 100% 11 $3,765,000 $342,273 $15,321 6.48%
    Under 20% 1 $45,000 $45,000 $3,312 5.88%