Mortgage America Rates, Fees & Info

Whitehall, PA

LEI: 5493000GQ5D5YW5QID32

Tax ID: 23-2551885

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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, Harrisburg, and Pottsville among others. We have data for 29 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 a low 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.

    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% 4/18/24
    30 Year Conventional Refi 6.56% 4/18/24
    30 Year Cash-out Refi 6.93% 4/18/24
    30 Year FHA Purchase 7.50% 4/18/24
    30 Year FHA Refi 7.33% 4/18/24
    30 Year VA Purchase 6.30% 4/18/24
    30 Year VA Refi 5.55% 4/18/24
    30 Year USDA Purchase 7.10% 4/18/24
    15 Year Conventional Purchase 6.15% 4/18/24
    15 Year Conventional Refi 5.99% 4/18/24
    15 Year Cash-out Refi 5.99% 4/18/24
    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

    2,606

    Origination Dollar Volume (All Markets)

    $514,900,000
    Show all (24) awards

    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) 786 $200,240,000 $254,758 $4,721 4.57%
    READING, PA (FHA|USDA|VA) 652 $112,300,000 $172,239 $4,475 4.67%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 563 $103,885,000 $184,520 $4,477 4.74%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 222 $38,030,000 $171,306 $4,389 4.57%
    Pottsville, PA (FHA|USDA|VA) 134 $15,860,000 $118,358 $3,888 4.67%
    LANCASTER, PA (FHA|USDA|VA) 43 $7,975,000 $185,465 $4,243 4.73%
    LEBANON, PA (FHA|USDA|VA) 47 $7,955,000 $169,255 $4,564 4.51%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 45 $7,815,000 $173,667 $4,563 4.72%
    YORK-HANOVER, PA (FHA|USDA|VA) 26 $4,220,000 $162,308 $4,944 4.49%
    Sunbury, PA (FHA|USDA|VA) 21 $2,495,000 $118,810 $4,108 4.49%
    OCEAN CITY, NJ (FHA|USDA|VA) 7 $2,235,000 $319,286 $3,884 4.43%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 9 $2,075,000 $230,556 $4,201 4.75%
    SALISBURY, MD-DE (FHA|USDA|VA) 5 $1,685,000 $337,000 $3,982 4.48%
    Lewisburg, PA (FHA|USDA|VA) 8 $1,440,000 $180,000 $5,488 4.34%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 7 $1,055,000 $150,714 $4,607 4.55%
    WILLIAMSPORT, PA (FHA|USDA|VA) 4 $850,000 $212,500 $5,535 4.22%
    STATE COLLEGE, PA (FHA|USDA|VA) 3 $815,000 $271,667 $4,704 4.88%
    Selinsgrove, PA (FHA|USDA|VA) 5 $595,000 $119,000 $4,170 4.20%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $575,000 $575,000 $7,156 4.75%
    GETTYSBURG, PA (FHA|USDA|VA) 3 $525,000 $175,000 $5,010 4.53%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 3 $485,000 $161,667 $5,552 4.08%
    PITTSBURGH, PA (FHA|USDA|VA) 3 $445,000 $148,333 $4,272 4.04%
    Outside of Metro Areas 2 $280,000 $140,000 $3,663 4.50%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 2 $280,000 $140,000 $3,154 4.56%
    DOVER, DE (FHA|USDA|VA) 1 $225,000 $225,000 $7,218 4.99%
    Sayre, PA (FHA|USDA|VA) 1 $205,000 $205,000 $3,569 5.13%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $145,000 $145,000 $3,110 3.88%
    Warren, PA (FHA|USDA|VA) 1 $115,000 $115,000 $3,029 4.75%
    ERIE, PA (FHA|USDA|VA) 1 $95,000 $95,000 $4,821 4.75%
    Mortgage America's top markets include Philadelphia, Reading, Allentown, Harrisburg, and Pottsville among others.

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

    N C P D Federal Credit Union
    Similarity Rank: 55
    First Columbia Bank & Trust Co.
    Similarity Rank: 60
    Bogota Savings Bank
    Similarity Rank: 63
    Iron Workers Savings Bank
    Similarity Rank: 63
    Union County Savings Bank
    Similarity Rank: 66
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 80
    Haddon Savings Bank
    Similarity Rank: 116
    Freehold Savings Bank
    Similarity Rank: 120
    The Atlantic Federal Credit Union
    Similarity Rank: 120
    Blue Foundry Bank
    Similarity Rank: 125

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,702 $361,130,000 $212,180 $3,759 4.71%
    FHA 659 $108,985,000 $165,379 $6,099 4.52%
    USDA 133 $20,505,000 $154,173 $4,893 4.32%
    VA 112 $24,280,000 $216,786 $6,242 4.49%

    For 2018, Mortgage America's most frequently originated type of loan was Conventional, with 1,702 originations. Their 2nd most popular type was FHA, with 659 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,442 $486,050,000 $199,038 $4,573 4.62%
    Refi 101 $18,405,000 $182,228 $3,799 4.59%
    Cash Out Refi 61 $10,225,000 $167,623 $3,424 5.15%
    Home Improvement 1 $85,000 $85,000 $3,348 5.25%
    NA 1 $135,000 $135,000 $2,858 5.25%

    For 2018, Mortgage America's most frequently cited loan purpose was Home Purchase, with 2,442 originations. The 2nd most popular reason was Refi, with 101 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,464 $489,460,000 $198,644 $4,579 4.65%
    15 Year 97 $17,485,000 $180,258 $3,406 4.26%
    20 Year 38 $7,110,000 $187,105 $3,423 4.55%
    10 Year 6 $660,000 $110,000 $3,554 4.02%
    Other 1 $185,000 $185,000 $2,565 4.00%

    For 2018, Mortgage America's most frequently cited loan duration was 30 Year, with 2,464 originations. The 2nd most popular length was 15 Year, with 97 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,363 $460,645,000 $194,941
    $1k-2k 109 $20,685,000 $189,771
    $2k-3k 59 $12,815,000 $217,203
    $3k-4k 32 $8,440,000 $263,750
    $5k+ 22 $6,200,000 $281,818
    $4k-5k 18 $5,580,000 $310,000

    Mortgage America's average total fees were $4,579, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,363 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,960 $398,920,000 $203,531
    5-6% 337 $57,345,000 $170,163
    3-4% 287 $56,165,000 $195,697
    6-7% 22 $2,470,000 $112,273

    During 2018, Mortgage America's average interest rate for loans was 4.65%, while their most frequently originated rate bucket for loans was 4-5%, with 1,960 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,229 $186,155,000 $151,469 $4,255 4.64%
    $200k-400k 940 $252,370,000 $268,479 $5,115 4.62%
    $100,000 or less 328 $24,500,000 $74,695 $3,351 4.74%
    $400k-600k 99 $44,945,000 $453,990 $5,692 4.45%
    $600k-1MM 10 $6,930,000 $693,000 $6,803 4.33%

    2018 saw Mortgage America place emphasis on $100k-200k loans with 1,229 originations, totaling $186,155,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 758 $127,890,000 $168,720 $4,478 4.64%
    $50k or less 582 $70,780,000 $121,615 $4,117 4.57%
    $75k-100k 498 $103,810,000 $208,454 $4,823 4.69%
    $100k-150k 459 $114,585,000 $249,641 $4,687 4.66%
    $150k-250k 239 $73,005,000 $305,460 $4,657 4.65%
    $250k+ 68 $24,450,000 $359,559 $4,493 4.57%

    Mortgage America lent most frequently to those with incomes in the $50k-75k range, with 758 originations. The second most popular income band? $50k or less, with 582 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 498 $97,790,000 $196,365 $4,150 4.60%
    30-36% 482 $93,330,000 $193,631 $4,375 4.59%
    <20% 129 $25,835,000 $200,271 $3,619 4.54%
    42% 117 $25,245,000 $215,769 $4,889 4.69%
    41% 117 $22,925,000 $195,940 $4,692 4.67%
    44% 114 $23,010,000 $201,842 $4,802 4.55%
    38% 111 $21,435,000 $193,108 $4,658 4.71%
    49% 101 $20,975,000 $207,673 $4,718 4.75%
    39% 101 $20,775,000 $205,693 $4,551 4.69%
    37% 100 $19,400,000 $194,000 $4,766 4.61%
    40% 100 $19,870,000 $198,700 $4,623 4.66%
    43% 97 $19,345,000 $199,433 $4,809 4.60%
    48% 93 $18,715,000 $201,237 $4,361 4.79%
    50-60% 90 $17,280,000 $192,000 $6,328 4.53%
    47% 89 $18,055,000 $202,865 $5,006 4.70%
    45% 88 $17,560,000 $199,545 $4,523 4.75%
    36% 88 $17,300,000 $196,591 $4,351 4.68%
    46% 76 $13,070,000 $171,974 $4,192 4.67%
    >60% 11 $2,255,000 $205,000 $5,888 4.50%

    Mortgage America lent most frequently to those with DTI ratios of 20-30%, with 498 originations. The next most common DTI ratio? 30-36%, with 482 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,413 $474,135,000 $196,492 $4,494 4.64%
    Asian 81 $20,935,000 $258,457 $4,283 4.56%
    Black 93 $16,025,000 $172,312 $5,288 4.64%
    Not provided 15 $2,875,000 $191,667 $4,578 4.91%
    Asian Indian 1 $455,000 $455,000 $4,512 4.25%
    Native Hawaiian or Islander 1 $225,000 $225,000 $3,606 4.75%
    American Indian 1 $145,000 $145,000 $5,624 4.00%
    Other Asian 1 $105,000 $105,000 $2,714 4.50%

    Approval Rates

    Total approvals of all applications
    97.45%

    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
    82.96%

    Mortgage America has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,606 $514,900,000 $197,583

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 42 $6,670,000 $158,810
    Single Family (1-4 Units):Site-Built 2,564 $508,230,000 $198,218

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 46 $5,580,000 $121,304 $3,035 4.56%
    40-60% 97 $16,705,000 $172,216 $3,400 4.50%
    60-80% 562 $117,220,000 $208,577 $3,677 4.70%
    80-100% 1,862 $367,400,000 $197,315 $4,797 4.63%
    Over 100% 34 $7,650,000 $225,000 $8,463 4.52%
    Under 20% 4 $210,000 $52,500 $2,485 4.13%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    MORTGAGE LENDERS OF AMERICA Other type of mortgage Closing on a mortgage 1 33.3%
    MORTGAGE LENDERS OF AMERICA FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    MORTGAGE LENDERS OF AMERICA Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%