Franklin Mint Mortgage Rates, Fees & Info
Chadds Ford Township, PALEI: 5493001CM06UK2XY3I18
Tax ID: 23-2695702
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Mortgage Data
Review & Overview
Franklin Mint is a smaller mortgage company specializing in Home Purchase loans. Franklin Mint has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Washington, Baltimore, Pittsburgh, and Charlotte among others. We have data for 64 markets. (Some data included below & more in-depth data is available with an active subscription.)Franklin Mint has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Franklin Mint is typically a high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 3.64% | 9/25/23 |
| 30 Year Conventional Purchase | 6.07% | 9/25/23 |
| 30 Year Conventional Refi | 6.01% | 9/25/23 |
| 30 Year Cash-out Refi | 6.57% | 9/25/23 |
| 15 Year Conventional Purchase | 5.83% | 9/25/23 |
| 15 Year Conventional Refi | 6.41% | 9/25/23 |
| 15 Year Cash-out Refi | 6.41% | 9/25/23 |
| 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. | ||
Franklin Mint Mortgage Calculator
Your Estimates
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This is not an official calculator from Franklin Mint. 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
1,772Origination Dollar Volume (All Markets)
$336,300,000Awards
FRANKLIN MINT - 2022
FRANKLIN MINT is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
Franklin Mint's average 30 year fixed mortgage rate was
3.75%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -1.01%.
Relative Fees (Closing Costs)
Franklin Mint's average total fees/closing costs for a 30 year fixed rate
mortgage were $9,929.
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) | 1,311 | $159,705,000 | $121,819 | $1,449 | 3.44% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 98 | $53,010,000 | $540,918 | $10,234 | 3.71% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 33 | $19,605,000 | $594,091 | $10,390 | 3.70% |
| PITTSBURGH, PA (FHA|USDA|VA) | 39 | $15,935,000 | $408,590 | $9,594 | 3.29% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 30 | $11,320,000 | $377,333 | $6,590 | 3.33% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 22 | $9,910,000 | $450,455 | $42,655 | 3.95% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 22 | $7,550,000 | $343,182 | $6,209 | 2.92% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 15 | $5,915,000 | $394,333 | $7,971 | 3.77% |
| RICHMOND, VA (FHA|USDA|VA) | 13 | $4,625,000 | $355,769 | $8,724 | 3.40% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 21 | $4,175,000 | $198,810 | $1,205 | 3.09% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 6 | $3,960,000 | $660,000 | $6,488 | 2.67% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 7 | $3,695,000 | $527,857 | $8,447 | 3.68% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 7 | $2,335,000 | $333,571 | $8,824 | 3.93% |
| AKRON, OH (FHA|USDA|VA) | 7 | $2,285,000 | $326,429 | $7,570 | 3.77% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 12 | $2,090,000 | $174,167 | $3,985 | 3.87% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 4 | $2,000,000 | $500,000 | $6,760 | 4.34% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 6 | $1,990,000 | $331,667 | $8,366 | 2.83% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 9 | $1,735,000 | $192,778 | $8,597 | 2.77% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 6 | $1,680,000 | $280,000 | $8,150 | 3.17% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 4 | $1,500,000 | $375,000 | $5,958 | 3.03% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $1,390,000 | $695,000 | $10,117 | 4.56% |
| LANCASTER, PA (FHA|USDA|VA) | 11 | $1,325,000 | $120,455 | $4,641 | 3.63% |
| DOVER, DE (FHA|USDA|VA) | 4 | $1,150,000 | $287,500 | $7,901 | 3.50% |
| COLUMBIA, SC (FHA|USDA|VA) | 2 | $1,150,000 | $575,000 | $10,898 | 3.81% |
| READING, PA (FHA|USDA|VA) | 11 | $1,045,000 | $95,000 | $1,839 | 3.06% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $6,790 | 3.88% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $8,136 | 3.25% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 5 | $885,000 | $177,000 | $15,124 | 3.94% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $2,544 | 3.99% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $9,212 | 3.31% |
| Sheridan, WY (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $3,430 | 3.88% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $0 | 3.49% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $9,417 | 3.25% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 4 | $570,000 | $142,500 | $2,704 | 4.56% |
| Outside of Metro Areas | 3 | $535,000 | $178,333 | $5,061 | 3.21% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $5,554 | 3.31% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $8,539 | 4.88% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $7,164 | 5.13% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $6,272 | 2.93% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $2,768 | 5.25% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 6 | $440,000 | $73,333 | $150 | 3.41% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $11,949 | 3.50% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $5,131 | 2.88% |
| Cambridge, MD (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $3,652 | 3.75% |
| MORGANTOWN, WV (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $14,543 | 4.50% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $9,250 | 3.38% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $0 | 1.99% |
| LEBANON, PA (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 1.99% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,519 | 2.63% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,328 | 2.88% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $1,178 | 5.38% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $8,713 | 6.38% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $425 | 4.24% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $9,199 | 4.88% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,023 | 3.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 3.62% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $150 | 5.49% |
| FLORENCE, SC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,117 | 4.50% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $150 | 5.99% |
| Pottsville, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 1.99% |
| Lewistown, PA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 4.49% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $150 | 3.99% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 1.99% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.24% |
Similar Lenders
We use machine learning to identify the top lenders compared against FRANKLIN MINT 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 984 | $106,060,000 | $107,785 | n/a | 2.70% |
| Conventional | 788 | $230,240,000 | $292,183 | $5,760 | 4.42% |
For 2022, Franklin Mint's most frequently originated type of loan was HELOC, with 984 originations. Their 2nd most popular type was Conventional, with 788 originations.
Loan Reason
For 2022, Franklin Mint's most frequently cited loan purpose was Home Improvement, with 696 originations. The 2nd most popular reason was Home Purchase, with 524 originations.
Loan Duration/Length
For 2022, Franklin Mint's most frequently cited loan duration was Other, with 992 originations. The 2nd most popular length was 30 Year, with 434 originations.
Origination Fees/Closing Costs
Franklin Mint's average total fees were $9,929, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 430 originations.
Interest Rates
During 2022, Franklin Mint's average interest rate for loans was 3.75%, while their most frequently originated rate bucket for loans was <2.5%, with 813 originations.
Loan Sizing
2022 saw Franklin Mint place emphasis on $100,000 or less loans with 806 originations, totaling $45,250,000 in origination value.
Applicant Income
Franklin Mint lent most frequently to those with incomes in the $150k-250k range, with 501 originations. The second most popular income band? $100k-150k, with 493 originations.
Applicant Debt to Income Ratio
Franklin Mint lent most frequently to those with DTI ratios of 20-30%, with 382 originations. The next most common DTI ratio? 30-36%, with 308 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.14%
Franklin Mint has a below average approval rate.
Pick Rate
Approvals leading to origination80.81%
Franklin Mint has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,772 | $336,300,000 | $189,786 |