Mortgage America Rates, Fees & InfoWhitehall, PA
Tax ID: 23-2551885
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewMortgage America is a smaller mortgage company specializing in 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 27 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 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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.74%||3/30/23|
|30 Year Conventional Refi||6.56%||3/30/23|
|30 Year Cash-out Refi||6.93%||3/30/23|
|30 Year FHA Purchase||7.50%||3/30/23|
|30 Year FHA Refi||7.33%||3/30/23|
|30 Year VA Purchase||6.30%||3/30/23|
|30 Year VA Refi||5.55%||3/30/23|
|30 Year USDA Purchase||7.10%||3/30/23|
|15 Year Conventional Purchase||6.15%||3/30/23|
|15 Year Conventional Refi||5.99%||3/30/23|
|15 Year Cash-out Refi||5.99%||3/30/23|
|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.|
Origination Dollar Volume (All Markets)$614,670,000
Mortgage America's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.28%.
Relative Fees (Closing Costs)
Mortgage America's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,719.
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 $4,750.
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)||915||$294,015,000||$321,328||$5,896||4.81%|
|READING, PA (FHA|USDA|VA)||541||$114,025,000||$210,767||$5,411||4.97%|
|ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA)||417||$104,655,000||$250,971||$5,722||5.11%|
|Pottsville, PA (FHA|USDA|VA)||172||$26,080,000||$151,628||$5,095||5.33%|
|HARRISBURG-CARLISLE, PA (FHA|USDA|VA)||92||$20,660,000||$224,565||$5,527||5.38%|
|EAST STROUDSBURG, PA (FHA|USDA|VA)||34||$9,150,000||$269,118||$5,790||4.81%|
|LANCASTER, PA (FHA|USDA|VA)||39||$9,015,000||$231,154||$6,301||4.94%|
|LEBANON, PA (FHA|USDA|VA)||22||$4,850,000||$220,455||$5,631||5.09%|
|OCEAN CITY, NJ (FHA|USDA|VA)||7||$3,945,000||$563,571||$8,359||4.68%|
|SALISBURY, MD-DE (FHA|USDA|VA)||9||$3,945,000||$438,333||$7,980||4.15%|
|YORK-HANOVER, PA (FHA|USDA|VA)||17||$3,795,000||$223,235||$5,378||5.02%|
|Lewisburg, PA (FHA|USDA|VA)||16||$3,710,000||$231,875||$4,811||4.84%|
|New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA)||12||$3,280,000||$273,333||$5,097||5.41%|
|SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA)||12||$2,780,000||$231,667||$5,095||5.19%|
|Sunbury, PA (FHA|USDA|VA)||18||$2,600,000||$144,444||$4,165||4.99%|
|Outside of Metro Areas||11||$2,245,000||$204,091||$5,705||4.95%|
|BLOOMSBURG-BERWICK, PA (FHA|USDA|VA)||7||$1,835,000||$262,143||$4,228||5.25%|
|Selinsgrove, PA (FHA|USDA|VA)||6||$1,120,000||$186,667||$3,951||4.90%|
|PITTSBURGH, PA (FHA|USDA|VA)||3||$825,000||$275,000||$4,358||4.71%|
|ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA)||2||$790,000||$395,000||$5,504||5.31%|
|JOHNSTOWN, PA (FHA|USDA|VA)||1||$285,000||$285,000||$4,760||5.50%|
|Huntingdon, PA (FHA|USDA|VA)||1||$285,000||$285,000||$3,893||4.25%|
|DOVER, DE (FHA|USDA|VA)||1||$235,000||$235,000||$15,022||4.75%|
|WILLIAMSPORT, PA (FHA|USDA|VA)||2||$210,000||$105,000||$4,117||4.00%|
|ERIE, PA (FHA|USDA|VA)||1||$145,000||$145,000||$5,434||4.38%|
|GETTYSBURG, PA (FHA|USDA|VA)||1||$125,000||$125,000||$5,997||7.00%|
|Oil City, PA (FHA|USDA|VA)||1||$65,000||$65,000||$3,449||5.50%|
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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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Mortgage America's most frequently originated type of loan was Conventional, with 1,970 originations. Their 2nd most popular type was FHA, with 310 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||140||$33,370,000||$238,357||$5,504||4.34%|
For 2022, Mortgage America's most frequently cited loan purpose was Home Purchase, with 2,078 originations. The 2nd most popular reason was Refi, with 142 originations.
For 2022, Mortgage America's most frequently cited loan duration was 30 Year, with 2,229 originations. The 2nd most popular length was 15 Year, with 92 originations.
Origination Fees/Closing Costs
Mortgage America's average total fees were $5,719, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,581 originations.
During 2022, Mortgage America's average interest rate for loans was 5.04%, while their most frequently originated rate bucket for loans was 5-6%, with 813 originations.
2022 saw Mortgage America place emphasis on $200k-400k loans with 1,162 originations, totaling $326,200,000 in origination value.
Mortgage America lent most frequently to those with incomes in the $50k-75k range, with 590 originations. The second most popular income band? $100k-150k, with 561 originations.
Applicant Debt to Income Ratio
Mortgage America lent most frequently to those with DTI ratios of 20-30%, with 474 originations. The next most common DTI ratio? 30-36%, with 468 originations.
Approval RatesTotal approvals of all applications
Mortgage America has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Mortgage America has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2022 CPFB Complaints||% of Total Issues|
|Mortgage Research Center, LLC||Conventional home mortgage||Applying for a mortgage or refinancing an existing mortgage||1||50.0%|
|Mortgage Research Center, LLC||VA mortgage||Trouble during payment process||1||50.0%|