Franklin Mint Mortgage Rates, Fees & Info

Chadds Ford Township, PA

LEI: 5493001CM06UK2XY3I18

Tax ID: 23-2695702

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

    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, New York, Boston, and Pittsburgh among others. We have data for 39 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 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
    Home Equity Line of Credit (HELOC) 3.64% 4/21/24
    30 Year Conventional Purchase 6.07% 4/21/24
    30 Year Conventional Refi 6.01% 4/21/24
    30 Year Cash-out Refi 6.57% 4/21/24
    15 Year Conventional Purchase 5.83% 4/21/24
    15 Year Conventional Refi 6.41% 4/21/24
    15 Year Cash-out Refi 6.41% 4/21/24
    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.

    Franklin Mint Mortgage Calculator






    Your Estimates

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

    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

    604

    Origination Dollar Volume (All Markets)

    $124,710,000
    Show all (5) 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) 424 $50,800,000 $119,811 $1,256 5.08%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 54 $26,520,000 $491,111 $6,377 4.12%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 20 $8,000,000 $400,000 $4,760 4.33%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 8 $5,080,000 $635,000 $6,342 4.45%
    PITTSBURGH, PA (FHA|USDA|VA) 11 $4,905,000 $445,909 $5,088 4.02%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 8 $4,050,000 $506,250 $5,456 4.16%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 6 $3,680,000 $613,333 $4,734 4.52%
    SALISBURY, MD-DE (FHA|USDA|VA) 9 $3,165,000 $351,667 $3,419 4.54%
    RICHMOND, VA (FHA|USDA|VA) 8 $3,120,000 $390,000 $6,130 3.84%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 6 $2,690,000 $448,333 $7,294 4.31%
    OCEAN CITY, NJ (FHA|USDA|VA) 6 $1,670,000 $278,333 $2,893 4.27%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 3 $1,585,000 $528,333 $2,806 4.29%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 4 $1,510,000 $377,500 $6,918 4.19%
    RALEIGH-CARY, NC (FHA|USDA|VA) 3 $1,215,000 $405,000 $6,970 3.75%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $920,000 $460,000 $6,038 4.31%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $600,000 $300,000 $2,979 4.18%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 3 $565,000 $188,333 $4,704 3.63%
    WORCESTER, MA-CT (FHA|USDA|VA) 2 $520,000 $260,000 $3,997 5.62%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $485,000 $485,000 $6,455 4.38%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $470,000 $235,000 $3,805 4.56%
    LANCASTER, PA (FHA|USDA|VA) 3 $435,000 $145,000 $1,175 4.41%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $375,000 $375,000 $9,156 4.13%
    COLUMBIA, SC (FHA|USDA|VA) 1 $285,000 $285,000 $6,690 4.38%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $275,000 $275,000 $2,390 4.50%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $245,000 $245,000 $3,655 5.00%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $235,000 $235,000 $4,807 3.75%
    Somerset, PA (FHA|USDA|VA) 1 $225,000 $225,000 $5,305 4.00%
    AKRON, OH (FHA|USDA|VA) 1 $215,000 $215,000 $7,593 4.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $205,000 $205,000 $5,146 5.25%
    SPRINGFIELD, MA (FHA|USDA|VA) 2 $180,000 $90,000 $167 6.74%
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $105,000 $105,000 $160 6.14%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $105,000 $105,000 $150 4.74%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $65,000 $65,000 $3,383 5.25%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $55,000 $55,000 $150 4.49%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $35,000 $35,000 $177 6.74%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $35,000 $35,000 $502 6.99%
    READING, PA (FHA|USDA|VA) 1 $35,000 $35,000 $150 4.99%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $25,000 $25,000 $150 7.49%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 1 $25,000 $25,000 $217 8.39%
    Franklin Mint's top markets include Philadelphia, Washington, New York, Boston, and Pittsburgh among others.

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

    • 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.

    Westmoreland Federal Savings
    Similarity Rank: 12
    TRI BORO
    Similarity Rank: 25
    APL
    Similarity Rank: 32
    The Glen Burnie Mutual Savings Bank
    Similarity Rank: 54
    Commercial Bank and Trust of PA
    Similarity Rank: 57
    Iron Workers Savings Bank
    Similarity Rank: 63
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 88
    West View Savings Bank
    Similarity Rank: 102
    DOMINION ENERGY CREDIT UNION
    Similarity Rank: 108
    MERRIMACK VALLEY
    Similarity Rank: 110

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 604 $124,710,000 $206,474 $2,496 4.86%

    For 2018, Franklin Mint's most frequently originated type of loan was Conventional, with 604 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 210 $83,610,000 $398,143 $5,637 4.36%
    Home Improvement 142 $9,000,000 $63,380 $219 5.19%
    Refi 126 $21,170,000 $168,016 $1,270 4.68%
    Other 115 $6,085,000 $52,913 $253 5.58%
    Cash Out Refi 11 $4,845,000 $440,455 $6,608 4.75%

    For 2018, Franklin Mint's most frequently cited loan purpose was Home Purchase, with 210 originations. The 2nd most popular reason was Home Improvement, with 142 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 218 $93,260,000 $427,798 $5,759 4.24%
    10 Year 180 $14,880,000 $82,667 $356 5.07%
    15 Year 131 $12,385,000 $94,542 $441 5.37%
    5 Year 60 $1,760,000 $29,333 $156 5.27%
    20 Year 8 $1,230,000 $153,750 $1,462 6.10%
    Other 7 $1,195,000 $170,714 $1,430 4.55%

    For 2018, Franklin Mint's most frequently cited loan duration was 30 Year, with 218 originations. The 2nd most popular length was 10 Year, with 180 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 371 $40,955,000 $110,391
    $1k-2k 62 $25,770,000 $415,645
    $5k+ 27 $14,865,000 $550,556
    $2k-3k 26 $10,060,000 $386,923
    $3k-4k 25 $10,785,000 $431,400
    $4k-5k 19 $8,835,000 $465,000

    Franklin Mint's average total fees were $5,759, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 371 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 254 $70,510,000 $277,598
    5-6% 142 $12,300,000 $86,620
    3-4% 139 $38,275,000 $275,360
    6-7% 55 $2,755,000 $50,091
    7-8% 12 $510,000 $42,500
    2.5-3% 1 $335,000 $335,000
    Over 8% 1 $25,000 $25,000

    During 2018, Franklin Mint's average interest rate for loans was 4.24%, while their most frequently originated rate bucket for loans was 4-5%, with 254 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 298 $14,190,000 $47,617 $213 5.34%
    $400k-600k 93 $46,335,000 $498,226 $6,381 4.20%
    $200k-400k 90 $26,510,000 $294,556 $4,514 4.33%
    $100k-200k 88 $11,630,000 $132,159 $1,709 4.70%
    $600k-1MM 32 $22,200,000 $693,750 $6,717 4.32%
    $1MM+ 3 $3,845,000 $1,281,667 $15,579 4.25%

    2018 saw Franklin Mint place emphasis on $100,000 or less loans with 298 originations, totaling $14,190,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 197 $49,635,000 $251,954 $2,903 4.73%
    $100k-150k 147 $28,525,000 $194,048 $2,532 4.84%
    $75k-100k 86 $10,780,000 $125,349 $1,662 5.10%
    $50k-75k 65 $6,455,000 $99,308 $1,390 5.04%
    $250k+ 56 $20,910,000 $373,393 $3,923 4.46%
    $50k or less 33 $3,275,000 $99,242 $2,177 5.14%

    Franklin Mint lent most frequently to those with incomes in the $150k-250k range, with 197 originations. The second most popular income band? $100k-150k, with 147 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 124 $18,250,000 $147,177 $1,661 4.84%
    30-36% 115 $27,095,000 $235,609 $2,810 4.70%
    39% 34 $10,560,000 $310,588 $3,615 4.63%
    <20% 32 $3,280,000 $102,500 $650 4.82%
    38% 29 $6,785,000 $233,966 $2,627 4.95%
    40% 25 $4,535,000 $181,400 $2,489 5.16%
    44% 25 $7,125,000 $285,000 $3,515 5.22%
    42% 22 $5,410,000 $245,909 $2,326 4.85%
    36% 22 $4,130,000 $187,727 $3,637 4.91%
    41% 21 $5,065,000 $241,190 $3,644 4.87%
    43% 21 $4,725,000 $225,000 $2,787 4.89%
    37% 21 $5,325,000 $253,571 $3,386 4.64%
    >60% 20 $5,520,000 $276,000 $5,156 5.12%
    50-60% 17 $2,515,000 $147,941 $1,408 4.99%
    46% 16 $2,300,000 $143,750 $2,259 4.77%
    47% 16 $2,830,000 $176,875 $1,642 4.93%
    45% 14 $2,400,000 $171,429 $966 4.81%
    49% 6 $1,230,000 $205,000 $939 4.93%
    48% 5 $525,000 $105,000 $1,273 4.44%

    Franklin Mint lent most frequently to those with DTI ratios of 20-30%, with 124 originations. The next most common DTI ratio? 30-36%, with 115 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 393 $59,295,000 $150,878 $1,616 4.91%
    Not provided 103 $29,775,000 $289,078 $3,666 4.82%
    Asian 56 $24,550,000 $438,393 $6,184 4.14%
    Not applicable 20 $5,710,000 $285,500 $10,053 5.28%
    Black 27 $3,915,000 $145,000 $2,011 5.53%
    Native Hawaiian or Islander 1 $635,000 $635,000 $4,549 4.25%
    Asian Indian 2 $540,000 $270,000 $2,711 4.56%
    Chinese 1 $245,000 $245,000 $3,723 3.63%
    American Indian 1 $45,000 $45,000 $150 5.49%

    Approval Rates

    Total approvals of all applications
    74.80%

    Franklin Mint has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    76.82%

    Franklin Mint has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 604 $124,710,000 $206,474

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 604 $124,710,000 $206,474

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 100 $9,920,000 $99,200 $336 4.93%
    40-60% 34 $7,460,000 $219,412 $1,785 4.61%
    60-80% 107 $36,505,000 $341,168 $5,019 4.55%
    80-100% 144 $59,870,000 $415,764 $5,606 4.33%
    Under 20% 217 $10,255,000 $47,258 $184 5.37%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FRANKLIN AMERICAN MORTGAGE CO. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.3%
    FRANKLIN AMERICAN MORTGAGE CO. Conventional home mortgage Closing on a mortgage 1 3.3%
    FRANKLIN AMERICAN MORTGAGE CO. Conventional home mortgage Struggling to pay mortgage 1 3.3%
    FRANKLIN AMERICAN MORTGAGE CO. Conventional home mortgage Trouble during payment process 18 60.0%
    FRANKLIN AMERICAN MORTGAGE CO. FHA mortgage Struggling to pay mortgage 1 3.3%
    FRANKLIN AMERICAN MORTGAGE CO. FHA mortgage Trouble during payment process 1 3.3%
    FRANKLIN AMERICAN MORTGAGE CO. Other type of mortgage Struggling to pay mortgage 1 3.3%
    FRANKLIN AMERICAN MORTGAGE CO. Other type of mortgage Trouble during payment process 3 10.0%
    FRANKLIN AMERICAN MORTGAGE CO. VA mortgage Struggling to pay mortgage 1 3.3%
    FRANKLIN AMERICAN MORTGAGE CO. VA mortgage Trouble during payment process 2 6.7%