Mortgage America Rates, Fees & Info
Whitehall, PALEI: 5493000GQ5D5YW5QID32
Tax ID: 23-2551885
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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% | 12/16/24 |
| 30 Year Conventional Refi | 6.56% | 12/16/24 |
| 30 Year Cash-out Refi | 6.93% | 12/16/24 |
| 30 Year FHA Purchase | 7.50% | 12/16/24 |
| 30 Year FHA Refi | 7.33% | 12/16/24 |
| 30 Year VA Purchase | 6.30% | 12/16/24 |
| 30 Year VA Refi | 5.55% | 12/16/24 |
| 30 Year USDA Purchase | 7.10% | 12/16/24 |
| 15 Year Conventional Purchase | 6.15% | 12/16/24 |
| 15 Year Conventional Refi | 5.99% | 12/16/24 |
| 15 Year Cash-out Refi | 5.99% | 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. | ||
Mortgage America Mortgage Calculator
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This is not an official calculator from Mortgage America. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,550Origination Dollar Volume (All Markets)
$403,810,000Awards
Mortgage America - 2023
Mortgage America is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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.
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Product Mix
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
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
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
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
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
2023 saw Mortgage America place emphasis on $200k-400k loans with 777 originations, totaling $216,645,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications98.39%
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 origination78.97%
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 |