Mortgage America Rates, Fees & Info

Whitehall, PA

LEI: 5493000GQ5D5YW5QID32

Tax ID: 23-2551885

5 stars - out of 5 stars, based on 63 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Mortgage America is a smaller mortgage company specializing in Home Purchase and Refi 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 include Philadelphia, Reading, Allentown, Harrisburg, and Pottsville among others. Mortgage America has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Mortgage America is typically an average fee lendor.


Originations

3,932

Origination Dollar Volume (All Markets)

$963,630,000
Show all (13) awards

Relative Rate

Mortgage America 's average 30 year fixed rate mortgage of loans were 3.08%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.07%.

Relative Fees

Mortgage America 's average total fees for a 30 year fixed rate mortgage are $4,746.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1,579 $476,315,000 $301,656 $4,842 2.98%
READING, PA (FHA|USDA|VA) 876 $176,800,000 $201,826 $4,390 3.07%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 662 $148,760,000 $224,713 $4,461 3.07%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 200 $40,770,000 $203,850 $4,353 3.03%
Pottsville, PA (FHA|USDA|VA) 213 $29,555,000 $138,756 $4,269 3.21%
LANCASTER, PA (FHA|USDA|VA) 93 $21,065,000 $226,505 $4,775 3.13%
OCEAN CITY, NJ (FHA|USDA|VA) 32 $15,090,000 $471,563 $5,163 3.06%
LEBANON, PA (FHA|USDA|VA) 39 $7,135,000 $182,949 $4,414 2.93%
EAST STROUDSBURG, PA (FHA|USDA|VA) 32 $6,470,000 $202,188 $4,851 3.11%
Sunbury, PA (FHA|USDA|VA) 36 $5,080,000 $141,111 $4,542 2.88%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 18 $4,490,000 $249,444 $4,620 3.00%
Lewisburg, PA (FHA|USDA|VA) 22 $4,480,000 $203,636 $4,912 2.90%
YORK-HANOVER, PA (FHA|USDA|VA) 18 $3,830,000 $212,778 $4,389 3.11%
SALISBURY, MD-DE (FHA|USDA|VA) 10 $3,590,000 $359,000 $4,774 3.01%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 12 $3,420,000 $285,000 $3,576 3.40%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 18 $3,310,000 $183,889 $5,160 2.89%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 14 $2,630,000 $187,857 $4,743 2.83%
Selinsgrove, PA (FHA|USDA|VA) 14 $2,530,000 $180,714 $4,986 2.76%
Outside of Metro Areas 13 $2,065,000 $158,846 $3,542 3.18%
WILLIAMSPORT, PA (FHA|USDA|VA) 6 $1,260,000 $210,000 $3,917 2.58%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 4 $1,090,000 $272,500 $6,334 2.88%
GETTYSBURG, PA (FHA|USDA|VA) 3 $745,000 $248,333 $3,726 3.29%
PITTSBURGH, PA (FHA|USDA|VA) 3 $705,000 $235,000 $4,632 3.00%
STATE COLLEGE, PA (FHA|USDA|VA) 2 $500,000 $250,000 $4,275 3.50%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $355,000 $355,000 $11,719 2.63%
Lock Haven, PA (FHA|USDA|VA) 1 $345,000 $345,000 $0 2.38%
Sayre, PA (FHA|USDA|VA) 2 $310,000 $155,000 $3,478 3.25%
Huntingdon, PA (FHA|USDA|VA) 2 $220,000 $110,000 $4,650 3.38%
JOHNSTOWN, PA (FHA|USDA|VA) 2 $180,000 $90,000 $4,213 3.25%
Oil City, PA (FHA|USDA|VA) 1 $155,000 $155,000 $3,876 3.25%
DOVER, DE (FHA|USDA|VA) 1 $115,000 $115,000 $2,853 2.25%
Lewistown, PA (FHA|USDA|VA) 1 $115,000 $115,000 $3,169 2.38%
ERIE, PA (FHA|USDA|VA) 1 $85,000 $85,000 $5,041 2.38%
St. Marys, PA (FHA|USDA|VA) 1 $65,000 $65,000 $3,951 3.25%

Mortgage America 's top markets include Philadelphia, Reading, Allentown, Harrisburg, and Pottsville among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 3,305 $838,715,000 $253,772 $4,218 3.05%
FHA 400 $75,410,000 $188,525 $6,928 3.03%
USDA 115 $18,775,000 $163,261 $5,303 2.81%
VA 112 $30,730,000 $274,375 $6,978 2.79%

For the 2021 period, Mortgage America 's most frequently originated loan type of loans were Conventional, with 3,305 originations. Their 2nd most popular type is FHA, with 400 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 2,559 $644,725,000 $251,944 $4,940 3.08%
Refi 998 $228,580,000 $229,038 $3,898 2.88%
Cash Out Refi 375 $90,325,000 $240,867 $4,199 3.14%

For the 2021, Mortgage America 's most frequently cited loan purpose of loans were Home Purchase, with 2,559 originations. The 2nd most popular reason of loans were Refi, with 998 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 3,298 $826,560,000 $250,625 $4,746 3.08%
15 Year 376 $79,850,000 $212,367 $3,882 2.65%
20 Year 173 $38,575,000 $222,977 $3,842 2.93%
Other 62 $14,500,000 $233,871 $4,047 3.08%
10 Year 23 $4,145,000 $180,217 $3,375 2.53%

For the 2021, Mortgage America 's most frequently cited loan length of loans were 30 Year, with 3,298 originations. The 2nd most popular length of loans were 15 Year, with 376 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 3,482 $857,220,000 $246,186
$1k-2k 190 $37,800,000 $198,947
$2k-3k 133 $28,765,000 $216,278
$3k-4k 91 $24,495,000 $269,176
$5k+ 36 $15,350,000 $426,389

$4,746 of loans were Mortgage America 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 3,482 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 1,809 $471,905,000 $260,865
3-4% 1,645 $388,945,000 $236,441
<2.5% 414 $93,390,000 $225,580
4-5% 63 $9,135,000 $145,000

During 2021, Mortgage America 's average interest rate of loans were 3.08%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,809 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,789 $490,645,000 $274,257 $4,848 3.02%
$100k-200k 1,440 $225,060,000 $156,292 $4,038 3.05%
$400k-600k 389 $183,995,000 $472,995 $5,853 2.93%
$100,000 or less 260 $19,910,000 $76,577 $3,497 3.22%
$600k-1MM 46 $34,620,000 $752,609 $7,599 2.99%
$1MM+ 8 $9,400,000 $1,175,000 $9,036 3.16%

2021 saw Mortgage America place emphasis on $200k-400k loans with 1,789 originations, totaling $490,645,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 998 $198,740,000 $199,138 $4,497 3.04%
$100k-150k 856 $239,090,000 $279,311 $4,676 3.02%
$75k-100k 727 $166,385,000 $228,865 $4,659 3.08%
$50k or less 647 $94,385,000 $145,881 $4,166 3.03%
$150k-250k 520 $181,760,000 $349,538 $4,941 3.00%
$250k+ 184 $83,270,000 $452,554 $5,219 2.99%

Mortgage America lent most frequently to those with incomes in the $50k-75k range, with 998 originations. The second most popular income band? $100k-150k, with 856 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 929 $231,185,000 $248,854 $4,395 3.00%
30-36% 689 $163,045,000 $236,640 $4,566 3.04%
<20% 276 $65,030,000 $235,616 $3,952 2.96%
44% 136 $30,910,000 $227,279 $5,196 3.12%
40% 135 $30,735,000 $227,667 $4,604 3.08%
43% 132 $29,230,000 $221,439 $4,803 3.07%
38% 128 $29,130,000 $227,578 $4,727 3.17%
37% 127 $30,775,000 $242,323 $4,670 3.03%
42% 120 $27,560,000 $229,667 $4,889 3.08%
36% 120 $29,610,000 $246,750 $4,649 3.06%
49% 119 $29,765,000 $250,126 $5,152 3.07%
39% 117 $29,395,000 $251,239 $4,962 3.14%
41% 114 $24,070,000 $211,140 $4,633 3.10%
45% 94 $21,950,000 $233,511 $4,628 3.11%
46% 94 $22,310,000 $237,340 $4,480 3.04%
48% 90 $22,210,000 $246,778 $4,663 3.08%
47% 87 $21,945,000 $252,241 $5,007 3.03%
50-60% 29 $6,335,000 $218,448 $6,412 3.13%
>60% 1 $275,000 $275,000 $3,985 3.38%

Mortgage America lent most frequently to those with DTI ratios of 20-30%, with 929 originations. The next most common DTI ratio? 30-36%, with 689 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 3,542 $852,150,000 $240,584 $4,525 3.03%
Not provided 132 $39,890,000 $302,197 $5,018 3.04%
Asian 107 $35,245,000 $329,393 $5,107 2.89%
Black 143 $34,465,000 $241,014 $5,762 3.10%
Native Hawaiian 4 $1,010,000 $252,500 $5,064 2.75%
American Indian 4 $870,000 $217,500 $5,646 3.13%

Approval Rates

Total approvals of all applications
98.57%

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
82.87%

Mortgage America has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 3,932 $963,630,000 $245,074

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
3,932 $963,630,000 $245,074

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 116 $18,120,000 $156,207 $3,375 2.85%
40-60% 425 $88,015,000 $207,094 $3,744 2.89%
60-80% 1,254 $316,920,000 $252,727 $4,198 3.06%
80-100% 2,105 $531,885,000 $252,677 $4,998 3.06%
Over 100% 30 $8,540,000 $284,667 $11,044 2.73%
Under 20% 2 $150,000 $75,000 $2,997 3.00%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
MORTGAGE AMERICA, INC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%