State Financial Network Mortgage Rates, Fees & Info

Chadds Ford, PA

LEI: 5493000SW5GLNL7VNX12

Tax ID: 80-0873092

5 stars - Updated: 3/17/24 - out of 5 stars, based on 18 reviews

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

Jump to:

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 Washington among others. We have data for 30 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 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 6.53% 3/17/24
30 Year Conventional Refi 6.52% 3/17/24
30 Year Cash-out Refi 6.55% 3/17/24
15 Year Conventional Purchase 5.98% 3/17/24
15 Year Conventional Refi 5.78% 3/17/24
15 Year Cash-out Refi 5.78% 3/17/24
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

Estimated Loan Payment: Update the calculator values and click calculate payment!

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

325

Origination Dollar Volume (All Markets)

$77,645,000

Awards

State Financial Network 30 Year Conventional Loans gold State Financial Network 30 Year Conventional Loans gold State Financial Network 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

State Financial Network's average 30 year fixed mortgage rate was 4.83%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.07%.

Relative Fees (Closing Costs)

State Financial Network's average total fees/closing costs for a 30 year fixed rate mortgage were $3,849.

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 $4,750.

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) 169 $45,525,000 $269,379 $3,731 4.24%
PITTSBURGH, PA (FHA|USDA|VA) 74 $11,730,000 $158,514 $3,193 5.13%
READING, PA (FHA|USDA|VA) 24 $4,110,000 $171,250 $4,231 5.29%
OCEAN CITY, NJ (FHA|USDA|VA) 5 $1,925,000 $385,000 $6,156 4.30%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $1,680,000 $840,000 $4,736 3.88%
SALISBURY, MD-DE (FHA|USDA|VA) 6 $1,570,000 $261,667 $4,468 5.29%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 6 $1,450,000 $241,667 $4,522 5.29%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 4 $1,400,000 $350,000 $2,787 3.63%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $970,000 $485,000 $5,278 4.31%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $820,000 $410,000 $3,797 3.25%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 4 $590,000 $147,500 $3,533 3.84%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $520,000 $260,000 $3,251 4.06%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $495,000 $495,000 $5,572 5.38%
KNOXVILLE, TN (FHA|USDA|VA) 1 $445,000 $445,000 $3,802 5.50%
Pottsville, PA (FHA|USDA|VA) 4 $440,000 $110,000 $3,081 5.38%
EAST STROUDSBURG, PA (FHA|USDA|VA) 2 $390,000 $195,000 $4,147 3.75%
LEBANON, PA (FHA|USDA|VA) 2 $380,000 $190,000 $3,282 4.56%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $375,000 $375,000 $3,596 2.38%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $365,000 $365,000 $4,319 3.88%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $345,000 $345,000 $2,737 3.50%
New Castle, PA (FHA|USDA|VA) 1 $305,000 $305,000 $3,880 6.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $265,000 $265,000 $3,624 4.50%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $255,000 $255,000 $3,757 5.13%
Outside of Metro Areas 2 $250,000 $125,000 $2,548 3.19%
Lock Haven, PA (FHA|USDA|VA) 1 $245,000 $245,000 $3,966 3.63%
LANCASTER, PA (FHA|USDA|VA) 2 $240,000 $120,000 $3,378 2.56%
DOVER, DE (FHA|USDA|VA) 1 $175,000 $175,000 $2,866 4.00%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $145,000 $145,000 $2,204 5.88%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 1 $135,000 $135,000 $3,365 2.75%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $105,000 $105,000 $2,649 3.50%
State Financial Network's top markets include Philadelphia, Pittsburgh, Reading, Ocean City, and Washington among others.

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

    BELLCO
    Similarity Rank: 88
    TRI BORO
    Similarity Rank: 208
    N C P D Federal Credit Union
    Similarity Rank: 306
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 322
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 326
    Louviers Federal Credit Union
    Similarity Rank: 328
    Schuyler Savings Bank
    Similarity Rank: 352
    Discovery Federal Credit Union
    Similarity Rank: 440

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 325 $77,645,000 $238,908 $3,686 4.54%

    For 2022, State Financial Network's most frequently originated type of loan was Conventional, with 325 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 219 $54,065,000 $246,872 $3,829 4.97%
    Cash Out Refi 66 $14,150,000 $214,394 $3,474 3.79%
    Refi 37 $8,815,000 $238,243 $3,239 3.31%
    Home Improvement 3 $615,000 $205,000 $3,356 4.38%

    For 2022, State Financial Network's most frequently cited loan purpose was Home Purchase, with 219 originations. The 2nd most popular reason was Cash Out Refi, with 66 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 267 $67,745,000 $253,727 $3,849 4.83%
    15 Year 39 $6,635,000 $170,128 $2,913 3.03%
    20 Year 12 $2,240,000 $186,667 $3,103 3.83%
    10 Year 7 $1,025,000 $146,429 $2,770 2.84%

    For 2022, State Financial Network's most frequently cited loan duration was 30 Year, with 267 originations. The 2nd most popular length was 15 Year, with 39 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 266 $61,380,000 $230,752
    $1k-2k 29 $7,455,000 $257,069
    $2k-3k 10 $2,500,000 $250,000
    $3k-4k 8 $1,970,000 $246,250
    $4k-5k 6 $1,860,000 $310,000
    $5k+ 6 $2,480,000 $413,333

    State Financial Network's average total fees were $3,849, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 266 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 86 $20,760,000 $241,395
    3-4% 83 $19,835,000 $238,976
    4-5% 59 $16,635,000 $281,949
    6-7% 36 $6,070,000 $168,611
    2.5-3% 33 $8,875,000 $268,939
    <2.5% 20 $4,230,000 $211,500
    7-8% 8 $1,240,000 $155,000

    During 2022, State Financial Network's average interest rate for loans was 4.83%, while their most frequently originated rate bucket for loans was 5-6%, with 86 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 129 $37,005,000 $286,860 $3,938 4.40%
    $100k-200k 118 $17,320,000 $146,780 $3,230 4.82%
    $100,000 or less 41 $3,065,000 $74,756 $2,771 4.46%
    $400k-600k 28 $13,550,000 $483,929 $5,026 4.30%
    $600k-1MM 8 $5,230,000 $653,750 $6,055 4.13%
    $1MM+ 1 $1,475,000 $1,475,000 $5,920 2.75%

    2022 saw State Financial Network place emphasis on $200k-400k loans with 129 originations, totaling $37,005,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 74 $11,350,000 $153,378 $3,148 4.66%
    $100k-150k 72 $18,810,000 $261,250 $3,777 4.46%
    $75k-100k 65 $12,705,000 $195,462 $3,394 4.67%
    $150k-250k 56 $20,480,000 $365,714 $4,627 4.32%
    $50k or less 33 $3,465,000 $105,000 $2,911 4.68%
    $250k+ 22 $9,660,000 $439,091 $4,858 4.35%

    State Financial Network lent most frequently to those with incomes in the $50k-75k range, with 74 originations. The second most popular income band? $100k-150k, with 72 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 86 $20,620,000 $239,767 $3,710 4.20%
    30-36% 73 $16,795,000 $230,068 $3,688 4.69%
    <20% 20 $3,850,000 $192,500 $3,271 4.39%
    36% 19 $4,525,000 $238,158 $3,641 4.80%
    38% 14 $3,950,000 $282,143 $4,206 5.09%
    42% 12 $2,710,000 $225,833 $3,546 4.44%
    39% 12 $2,610,000 $217,500 $3,519 4.66%
    41% 12 $4,310,000 $359,167 $3,858 4.34%
    47% 12 $2,470,000 $205,833 $3,701 4.55%
    46% 10 $2,930,000 $293,000 $3,611 4.94%
    44% 10 $2,730,000 $273,000 $4,545 5.15%
    43% 9 $1,915,000 $212,778 $3,646 4.19%
    40% 8 $1,440,000 $180,000 $3,467 4.95%
    49% 7 $1,885,000 $269,286 $3,246 4.09%
    45% 7 $1,735,000 $247,857 $4,124 4.86%
    37% 6 $1,380,000 $230,000 $3,349 4.88%
    50-60% 5 $1,265,000 $253,000 $3,526 4.70%
    48% 3 $525,000 $175,000 $3,053 3.75%

    State Financial Network lent most frequently to those with DTI ratios of 20-30%, with 86 originations. The next most common DTI ratio? 30-36%, with 73 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 256 $61,060,000 $238,516 $3,700 4.54%
    Black 35 $7,995,000 $228,429 $3,558 4.46%
    Not provided 27 $5,705,000 $211,296 $3,338 4.74%
    Asian 5 $2,045,000 $409,000 $5,429 4.03%
    Asian Indian 1 $645,000 $645,000 $4,473 4.63%
    Native Hawaiian or Islander 1 $195,000 $195,000 $4,379 3.38%

    Approval Rates

    Total approvals of all applications
    92.11%

    State Financial Network has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.92%

    State Financial Network has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 325 $77,645,000 $238,908

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    325 $77,645,000 $238,908

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $2,425,000 $127,632 $2,769 3.68%
    40-60% 48 $9,200,000 $191,667 $3,016 3.86%
    60-80% 115 $32,895,000 $286,043 $4,060 4.43%
    80-100% 141 $32,975,000 $233,865 $3,748 4.98%
    Under 20% 2 $150,000 $75,000 $2,528 4.13%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Statebridge Company Conventional home mortgage Closing on a mortgage 1 100.0%