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

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  • 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 small 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 by origination volume include: Philadelphia, Reading, Allentown, Harrisburg, and Pottsville 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 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% 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






    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

    4,396

    Origination Dollar Volume (All Markets)

    $1,035,390,000
    Show all (21) 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) 1,746 $499,390,000 $286,019 $4,622 3.15%
    READING, PA (FHA|USDA|VA) 1,054 $210,950,000 $200,142 $4,409 3.23%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 739 $160,765,000 $217,544 $4,542 3.20%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 194 $36,740,000 $189,381 $4,224 3.13%
    Pottsville, PA (FHA|USDA|VA) 234 $31,470,000 $134,487 $4,236 3.24%
    LANCASTER, PA (FHA|USDA|VA) 95 $19,355,000 $203,737 $4,735 3.23%
    OCEAN CITY, NJ (FHA|USDA|VA) 47 $17,645,000 $375,426 $3,831 3.02%
    LEBANON, PA (FHA|USDA|VA) 50 $9,350,000 $187,000 $4,184 3.30%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 35 $6,915,000 $197,571 $4,546 3.40%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 21 $6,565,000 $312,619 $4,303 3.01%
    Sunbury, PA (FHA|USDA|VA) 46 $6,530,000 $141,957 $4,495 3.01%
    SALISBURY, MD-DE (FHA|USDA|VA) 19 $5,385,000 $283,421 $4,020 3.31%
    Outside of Metro Areas 18 $3,440,000 $191,111 $4,169 3.01%
    Lewisburg, PA (FHA|USDA|VA) 17 $3,175,000 $186,765 $5,544 2.99%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 9 $3,125,000 $347,222 $4,161 2.94%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 16 $2,710,000 $169,375 $4,214 2.97%
    YORK-HANOVER, PA (FHA|USDA|VA) 12 $2,640,000 $220,000 $4,455 3.24%
    Selinsgrove, PA (FHA|USDA|VA) 14 $2,540,000 $181,429 $4,859 2.90%
    GETTYSBURG, PA (FHA|USDA|VA) 6 $1,500,000 $250,000 $6,288 3.31%
    PITTSBURGH, PA (FHA|USDA|VA) 4 $1,280,000 $320,000 $4,854 2.88%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 3 $1,215,000 $405,000 $4,954 2.83%
    DOVER, DE (FHA|USDA|VA) 4 $1,030,000 $257,500 $5,050 3.00%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 6 $900,000 $150,000 $3,378 3.27%
    WILLIAMSPORT, PA (FHA|USDA|VA) 1 $185,000 $185,000 $3,384 4.25%
    ERIE, PA (FHA|USDA|VA) 1 $135,000 $135,000 $6,199 3.75%
    Lewistown, PA (FHA|USDA|VA) 1 $125,000 $125,000 $3,150 3.25%
    Somerset, PA (FHA|USDA|VA) 1 $105,000 $105,000 $3,335 2.50%
    STATE COLLEGE, PA (FHA|USDA|VA) 1 $95,000 $95,000 $2,135 3.63%
    St. Marys, PA (FHA|USDA|VA) 1 $65,000 $65,000 $2,987 3.63%
    Indiana, PA (FHA|USDA|VA) 1 $65,000 $65,000 $5,053 4.13%
    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)

    • 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.

    Susquehanna Community Bank
    Similarity Rank: 48
    Farmers and Merchants Trust Company of Chambersburg
    Similarity Rank: 108
    The First National Bank of Long Island
    Similarity Rank: 134
    PATRIOT
    Similarity Rank: 170
    First Columbia Bank & Trust Co.
    Similarity Rank: 182
    SERVICE 1ST
    Similarity Rank: 196
    First Commonwealth Federal Credit Union
    Similarity Rank: 210
    North Jersey Federal Credit Union
    Similarity Rank: 247
    BELLCO
    Similarity Rank: 354
    LEBANON
    Similarity Rank: 405

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,576 $872,940,000 $244,111 $4,028 3.19%
    FHA 552 $105,590,000 $191,286 $6,916 3.18%
    USDA 135 $21,595,000 $159,963 $5,200 3.03%
    VA 133 $35,265,000 $265,150 $6,522 3.01%

    For 2020, Mortgage America's most frequently originated type of loan was Conventional, with 3,576 originations. Their 2nd most popular type was FHA, with 552 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,676 $623,100,000 $232,848 $4,882 3.21%
    Refi 1,377 $332,605,000 $241,543 $3,900 3.08%
    Cash Out Refi 343 $79,685,000 $232,318 $3,957 3.36%

    For 2020, Mortgage America's most frequently cited loan purpose was Home Purchase, with 2,676 originations. The 2nd most popular reason was Refi, with 1,377 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,581 $857,725,000 $239,521 $4,665 3.22%
    15 Year 413 $89,175,000 $215,920 $3,708 2.86%
    20 Year 263 $58,905,000 $223,973 $3,811 3.16%
    Other 116 $25,850,000 $222,845 $4,094 3.24%
    10 Year 23 $3,735,000 $162,391 $3,418 3.05%

    For 2020, Mortgage America's most frequently cited loan duration was 30 Year, with 3,581 originations. The 2nd most popular length was 15 Year, with 413 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 3,935 $934,295,000 $237,432
    $1k-2k 223 $41,435,000 $185,807
    $2k-3k 133 $29,585,000 $222,444
    $3k-4k 54 $13,730,000 $254,259
    $5k+ 27 $10,365,000 $383,889
    $4k-5k 21 $5,135,000 $244,524

    Mortgage America's average total fees were $4,665, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3,935 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,384 $547,950,000 $229,845
    2.5-3% 1,637 $407,955,000 $249,209
    <2.5% 242 $56,010,000 $231,446
    4-5% 123 $22,155,000 $180,122
    5-6% 10 $1,320,000 $132,000

    During 2020, Mortgage America's average interest rate for loans was 3.22%, while their most frequently originated rate bucket for loans was 3-4%, with 2,384 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,078 $576,230,000 $277,300 $4,800 3.15%
    $100k-200k 1,637 $252,585,000 $154,297 $4,044 3.21%
    $400k-600k 357 $166,145,000 $465,392 $5,561 3.05%
    $100,000 or less 302 $22,210,000 $73,543 $3,425 3.39%
    $600k-1MM 20 $15,310,000 $765,500 $8,046 3.39%
    $1MM+ 2 $2,910,000 $1,455,000 $8,014 3.63%

    2020 saw Mortgage America place emphasis on $200k-400k loans with 2,078 originations, totaling $576,230,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,090 $203,820,000 $186,991 $4,481 3.19%
    $100k-150k 1,003 $272,565,000 $271,750 $4,651 3.18%
    $75k-100k 812 $186,790,000 $230,037 $4,545 3.20%
    $50k or less 667 $91,465,000 $137,129 $4,093 3.18%
    $150k-250k 643 $207,845,000 $323,243 $4,611 3.18%
    $250k+ 181 $72,905,000 $402,790 $4,738 3.10%

    Mortgage America lent most frequently to those with incomes in the $50k-75k range, with 1,090 originations. The second most popular income band? $100k-150k, with 1,003 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,093 $260,575,000 $238,403 $4,195 3.15%
    30-36% 926 $222,130,000 $239,881 $4,445 3.19%
    <20% 379 $90,255,000 $238,140 $3,970 3.10%
    44% 177 $40,805,000 $230,537 $4,790 3.18%
    42% 166 $35,860,000 $216,024 $4,571 3.26%
    39% 166 $37,690,000 $227,048 $4,685 3.22%
    41% 162 $36,010,000 $222,284 $4,618 3.30%
    37% 157 $35,855,000 $228,376 $4,550 3.19%
    36% 155 $38,075,000 $245,645 $4,744 3.18%
    40% 146 $34,780,000 $238,219 $4,771 3.21%
    43% 140 $31,850,000 $227,500 $4,791 3.25%
    38% 136 $31,310,000 $230,221 $4,512 3.23%
    49% 114 $25,950,000 $227,632 $4,847 3.15%
    45% 113 $27,795,000 $245,973 $4,721 3.14%
    48% 111 $25,025,000 $225,450 $5,005 3.22%
    47% 96 $22,340,000 $232,708 $5,068 3.19%
    46% 89 $22,125,000 $248,596 $4,867 3.20%
    50-60% 47 $10,675,000 $227,128 $7,311 3.19%
    >60% 2 $310,000 $155,000 $4,739 3.25%

    Mortgage America lent most frequently to those with DTI ratios of 20-30%, with 1,093 originations. The next most common DTI ratio? 30-36%, with 926 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,045 $945,005,000 $233,623 $4,461 3.19%
    Asian 118 $35,650,000 $302,119 $4,762 3.05%
    Not provided 106 $26,540,000 $250,377 $4,685 3.17%
    Black 117 $26,515,000 $226,624 $5,469 3.15%
    American Indian 8 $1,280,000 $160,000 $4,157 3.16%
    Native Hawaiian or Islander 2 $400,000 $200,000 $7,483 4.00%

    Approval Rates

    Total approvals of all applications
    98.92%

    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
    85.96%

    Mortgage America has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,396 $1,035,390,000 $235,530

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $850,000 $141,667
    Single Family (1-4 Units):Site-Built 4,390 $1,034,540,000 $235,658

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 123 $21,005,000 $170,772 $3,327 3.01%
    40-60% 432 $90,270,000 $208,958 $3,577 3.07%
    60-80% 1,409 $354,805,000 $251,813 $3,995 3.19%
    80-100% 2,388 $559,250,000 $234,192 $4,951 3.21%
    Over 100% 40 $9,800,000 $245,000 $9,305 3.08%
    Under 20% 4 $260,000 $65,000 $2,843 3.03%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    MORTGAGE LENDERS OF AMERICA Conventional home mortgage Trouble during payment process 1 50.0%
    MORTGAGE LENDERS OF AMERICA Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%