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 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 34 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.
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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
3,932Origination Dollar Volume (All Markets)
$963,630,000Awards
Mortgage America - 2021
Mortgage America is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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) | 1,579 | $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% |
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 2021, Mortgage America's most frequently originated type of loan was Conventional, with 3,305 originations. Their 2nd most popular type was FHA, with 400 originations.
Loan Reason
For 2021, Mortgage America's most frequently cited loan purpose was Home Purchase, with 2,559 originations. The 2nd most popular reason was Refi, with 998 originations.
Loan Duration/Length
For 2021, Mortgage America's most frequently cited loan duration was 30 Year, with 3,298 originations. The 2nd most popular length was 15 Year, with 376 originations.
Origination Fees/Closing Costs
Mortgage America's average total fees were $4,746, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.08%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,809 originations.
Loan Sizing
2021 saw Mortgage America place emphasis on $200k-400k loans with 1,789 originations, totaling $490,645,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications98.96%
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 origination79.09%
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 |
LTV Distribution
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% |