State Financial Network Mortgage Rates, Fees & Info

Chadds Ford, PA

LEI: 5493000SW5GLNL7VNX12

Tax ID: 80-0873092

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

    State Financial Network is a smaller mortgage company specializing in Refi, Cash Out Refi, and 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 Baltimore among others. We have data for 37 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% 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

    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

    1,061

    Origination Dollar Volume (All Markets)

    $239,525,000

    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

    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) 651 $157,815,000 $242,419 $3,278 2.85%
    PITTSBURGH, PA (FHA|USDA|VA) 225 $39,195,000 $174,200 $3,164 2.89%
    READING, PA (FHA|USDA|VA) 47 $8,255,000 $175,638 $3,403 3.06%
    OCEAN CITY, NJ (FHA|USDA|VA) 13 $4,095,000 $315,000 $3,206 2.93%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 8 $3,880,000 $485,000 $3,324 2.88%
    SALISBURY, MD-DE (FHA|USDA|VA) 11 $3,315,000 $301,364 $3,289 2.91%
    LANCASTER, PA (FHA|USDA|VA) 13 $3,255,000 $250,385 $3,481 2.83%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 10 $2,440,000 $244,000 $3,961 3.25%
    LEBANON, PA (FHA|USDA|VA) 10 $1,750,000 $175,000 $3,068 2.88%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 7 $1,545,000 $220,714 $2,557 2.79%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 8 $1,460,000 $182,500 $3,798 2.64%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 7 $1,135,000 $162,143 $3,177 3.38%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 5 $1,025,000 $205,000 $3,305 3.00%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 6 $990,000 $165,000 $3,099 2.69%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 7 $895,000 $127,857 $2,517 2.95%
    Outside of Metro Areas 4 $680,000 $170,000 $2,889 3.09%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $605,000 $605,000 $3,819 2.75%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $600,000 $300,000 $2,853 2.56%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $595,000 $595,000 $3,047 2.88%
    New Castle, PA (FHA|USDA|VA) 4 $570,000 $142,500 $2,946 3.25%
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $545,000 $545,000 $2,526 2.25%
    YORK-HANOVER, PA (FHA|USDA|VA) 2 $490,000 $245,000 $3,474 3.25%
    Oil City, PA (FHA|USDA|VA) 3 $455,000 $151,667 $2,842 2.67%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $405,000 $405,000 $2,898 2.88%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $405,000 $405,000 $2,507 3.00%
    ROANOKE, VA (FHA|USDA|VA) 1 $405,000 $405,000 $2,951 3.00%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $385,000 $385,000 $4,580 3.00%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $385,000 $385,000 $6,762 2.88%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $375,000 $375,000 $2,511 2.50%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $340,000 $170,000 $1,813 3.00%
    RICHMOND, VA (FHA|USDA|VA) 1 $305,000 $305,000 $2,218 2.38%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $245,000 $245,000 $1,723 3.00%
    Huntingdon, PA (FHA|USDA|VA) 1 $205,000 $205,000 $3,095 3.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $165,000 $165,000 $3,651 2.88%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $155,000 $155,000 $2,274 2.13%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $85,000 $85,000 $2,795 2.25%
    OCALA, FL (FHA|USDA|VA) 1 $75,000 $75,000 $2,209 2.88%
    State Financial Network's top markets include Philadelphia, Pittsburgh, Reading, Ocean City, and Baltimore among others.

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

    N C P D Federal Credit Union
    Similarity Rank: 102
    BELLCO
    Similarity Rank: 176
    TRI BORO
    Similarity Rank: 208
    Schuyler Savings Bank
    Similarity Rank: 352
    Louviers Federal Credit Union
    Similarity Rank: 410
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 414
    BHCU
    Similarity Rank: 504
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 524
    Standard Bank, PaSB
    Similarity Rank: 584
    Discovery Federal Credit Union
    Similarity Rank: 616

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,061 $239,525,000 $225,754 $3,248 2.88%

    For 2021, State Financial Network's most frequently originated type of loan was Conventional, with 1,061 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 433 $94,095,000 $217,309 $3,031 2.73%
    Cash Out Refi 329 $77,465,000 $235,456 $3,348 2.93%
    Home Purchase 295 $67,455,000 $228,661 $3,463 3.03%
    Home Improvement 2 $300,000 $150,000 $2,909 2.75%
    Other 2 $210,000 $105,000 $2,495 3.63%

    For 2021, State Financial Network's most frequently cited loan purpose was Refi, with 433 originations. The 2nd most popular reason was Cash Out Refi, with 329 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 624 $150,230,000 $240,753 $3,380 3.08%
    15 Year 291 $58,535,000 $201,151 $3,014 2.47%
    20 Year 105 $22,485,000 $214,143 $3,198 2.90%
    10 Year 25 $4,545,000 $181,800 $2,898 2.35%
    Other 16 $3,730,000 $233,125 $3,225 2.98%

    For 2021, State Financial Network's most frequently cited loan duration was 30 Year, with 624 originations. The 2nd most popular length was 15 Year, with 291 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 963 $210,175,000 $218,250
    $1k-2k 72 $21,180,000 $294,167
    $2k-3k 15 $4,215,000 $281,000
    $3k-4k 6 $2,130,000 $355,000
    $4k-5k 3 $1,045,000 $348,333
    $5k+ 2 $780,000 $390,000

    State Financial Network's average total fees were $3,380, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 963 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 553 $134,185,000 $242,649
    3-4% 253 $56,635,000 $223,854
    <2.5% 243 $46,825,000 $192,695
    4-5% 12 $1,880,000 $156,667

    During 2021, State Financial Network's average interest rate for loans was 3.08%, while their most frequently originated rate bucket for loans was 2.5-3%, with 553 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 437 $119,945,000 $274,474 $3,511 2.89%
    $100k-200k 430 $64,360,000 $149,674 $2,841 2.85%
    $100,000 or less 103 $7,985,000 $77,524 $2,582 2.91%
    $400k-600k 71 $32,925,000 $463,732 $4,538 2.90%
    $600k-1MM 19 $13,065,000 $687,632 $5,056 2.87%
    $1MM+ 1 $1,245,000 $1,245,000 $6,392 3.13%

    2021 saw State Financial Network place emphasis on $200k-400k loans with 437 originations, totaling $119,945,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 276 $65,170,000 $236,123 $3,286 2.87%
    $75k-100k 210 $41,440,000 $197,333 $3,134 2.88%
    $50k-75k 209 $33,815,000 $161,794 $2,940 2.84%
    $150k-250k 189 $56,815,000 $300,608 $3,574 2.86%
    $50k or less 96 $12,580,000 $131,042 $2,771 3.02%
    $250k+ 66 $26,390,000 $399,848 $4,301 2.85%

    State Financial Network lent most frequently to those with incomes in the $100k-150k range, with 276 originations. The second most popular income band? $75k-100k, with 210 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 326 $72,820,000 $223,374 $3,270 2.79%
    30-36% 195 $43,355,000 $222,333 $3,233 2.91%
    <20% 142 $31,150,000 $219,366 $3,216 2.78%
    41% 35 $7,595,000 $217,000 $3,202 2.93%
    40% 35 $8,315,000 $237,571 $3,320 2.92%
    43% 34 $7,420,000 $218,235 $3,060 2.96%
    36% 34 $8,000,000 $235,294 $3,193 2.88%
    37% 34 $7,230,000 $212,647 $3,157 3.00%
    45% 33 $7,925,000 $240,152 $3,365 3.09%
    42% 31 $8,165,000 $263,387 $3,391 2.97%
    44% 29 $6,205,000 $213,966 $3,135 3.11%
    39% 26 $6,390,000 $245,769 $3,232 2.97%
    46% 24 $5,980,000 $249,167 $3,465 2.91%
    38% 23 $4,655,000 $202,391 $3,217 2.87%
    47% 17 $4,335,000 $255,000 $3,494 3.01%
    48% 17 $4,265,000 $250,882 $3,240 2.96%
    49% 16 $3,520,000 $220,000 $3,264 2.88%
    50-60% 9 $2,035,000 $226,111 $2,981 2.99%
    >60% 1 $165,000 $165,000 $3,344 2.88%

    State Financial Network lent most frequently to those with DTI ratios of 20-30%, with 326 originations. The next most common DTI ratio? 30-36%, with 195 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 882 $197,800,000 $224,263 $3,265 2.87%
    Not provided 82 $19,180,000 $233,902 $3,187 2.96%
    Black 58 $12,420,000 $214,138 $3,096 2.86%
    Asian 19 $4,685,000 $246,579 $3,201 2.82%
    Asian Indian 9 $3,125,000 $347,222 $3,431 2.67%
    American Indian 5 $945,000 $189,000 $2,956 3.18%
    Chinese 1 $395,000 $395,000 $4,059 2.88%
    1 $305,000 $305,000 $4,319 2.75%
    Korean 1 $205,000 $205,000 $2,911 2.75%
    Filipino 1 $205,000 $205,000 $3,213 2.63%
    Other Pacific Islander 1 $145,000 $145,000 $2,327 2.75%
    Vietnamese 1 $115,000 $115,000 $2,700 2.38%

    Approval Rates

    Total approvals of all applications
    95.62%

    State Financial Network 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
    96.23%

    State Financial Network has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,061 $239,525,000 $225,754

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,061 $239,525,000 $225,754

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 71 $9,475,000 $133,451 $2,684 2.54%
    40-60% 262 $51,230,000 $195,534 $2,980 2.68%
    60-80% 479 $119,675,000 $249,843 $3,334 2.95%
    80-100% 246 $58,670,000 $238,496 $3,537 3.04%
    Under 20% 3 $475,000 $158,333 $2,569 2.50%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    STATE FARM BANK, FSB Conventional home mortgage Incorrect information on your report 1 25.0%
    STATE FARM BANK, FSB Conventional home mortgage Trouble during payment process 2 50.0%
    STATE FARM BANK, FSB Other type of mortgage Trouble during payment process 1 25.0%