State Financial Network Mortgage Rates, Fees & Info
Chadds Ford, PALEI: 5493000SW5GLNL7VNX12
Tax ID: 80-0873092
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Mortgage Data
Review & Overview
State Financial Network is a smaller mortgage company specializing in Home Purchase loans. State Financial Network has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Pittsburgh, Reading, Ocean City, and Allentown among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)State Financial Network has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. State Financial Network 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.53% | 12/16/24 |
| 30 Year Conventional Refi | 6.52% | 12/16/24 |
| 30 Year Cash-out Refi | 6.55% | 12/16/24 |
| 15 Year Conventional Purchase | 5.98% | 12/16/24 |
| 15 Year Conventional Refi | 5.78% | 12/16/24 |
| 15 Year Cash-out Refi | 5.78% | 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. | ||
State Financial Network Mortgage Calculator
Your Estimates
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This is not an official calculator from State Financial Network. 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
231Origination Dollar Volume (All Markets)
$52,765,000Awards
State Financial Network - 2023
State Financial Network is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
State Financial Network's average 30 year fixed mortgage rate was
6.49%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.01%.
Relative Fees (Closing Costs)
State Financial Network's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,651.
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 $9,089.
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) | 109 | $28,285,000 | $259,495 | $3,875 | 6.31% |
| PITTSBURGH, PA (FHA|USDA|VA) | 65 | $10,885,000 | $167,462 | $3,168 | 6.61% |
| READING, PA (FHA|USDA|VA) | 17 | $3,315,000 | $195,000 | $4,326 | 6.89% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 5 | $1,805,000 | $361,000 | $4,044 | 6.48% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $4,632 | 6.79% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $5,374 | 7.13% |
| New Castle, PA (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $3,281 | 7.17% |
| DOVER, DE (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $2,863 | 6.31% |
| LANCASTER, PA (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $3,603 | 5.88% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $3,066 | 6.56% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $4,112 | 7.13% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $3,570 | 6.56% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,522 | 6.50% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,267 | 6.63% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $3,905 | 5.75% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,393 | 4.88% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $2,966 | 6.38% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $2,634 | 6.44% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $3,431 | 6.38% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,056 | 5.88% |
| Pottsville, PA (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $3,970 | 6.94% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,377 | 7.13% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,153 | 6.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,068 | 5.75% |
| Outside of Metro Areas | 1 | $155,000 | $155,000 | $3,421 | 7.63% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,346 | 6.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against State Financial Network based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 21
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 231 | $52,765,000 | $228,420 | $3,663 | 6.47% |
For 2023, State Financial Network's most frequently originated type of loan was Conventional, with 231 originations.
Loan Reason
For 2023, State Financial Network's most frequently cited loan purpose was Home Purchase, with 200 originations. The 2nd most popular reason was Cash Out Refi, with 18 originations.
Loan Duration/Length
For 2023, State Financial Network's most frequently cited loan duration was 30 Year, with 217 originations. The 2nd most popular length was 15 Year, with 7 originations.
Origination Fees/Closing Costs
State Financial Network's average total fees were $3,651, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 195 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 121 | $26,015,000 | $215,000 |
| 5-6% | 47 | $11,925,000 | $253,723 |
| 7-8% | 47 | $10,455,000 | $222,447 |
| 4-5% | 14 | $3,940,000 | $281,429 |
| Over 8% | 2 | $430,000 | $215,000 |
During 2023, State Financial Network's average interest rate for loans was 6.49%, while their most frequently originated rate bucket for loans was 6-7%, with 121 originations.
Loan Sizing
2023 saw State Financial Network place emphasis on $200k-400k loans with 100 originations, totaling $26,530,000 in origination value.
Applicant Income
State Financial Network lent most frequently to those with incomes in the $100k-150k range, with 59 originations. The second most popular income band? $50k-75k, with 49 originations.
Applicant Debt to Income Ratio
State Financial Network lent most frequently to those with DTI ratios of 30-36%, with 54 originations. The next most common DTI ratio? 20-30%, with 53 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.01%
State Financial Network has an average approval rate.
Pick Rate
Approvals leading to origination92.64%
State Financial Network has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 231 | $52,765,000 | $228,420 |