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 and Refi loans. Franklin Mint has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Washington, Boston, Baltimore, and Pittsburgh among others. We have data for 38 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% 11/21/24
    30 Year Conventional Purchase 6.07% 11/21/24
    30 Year Conventional Refi 6.01% 11/21/24
    30 Year Cash-out Refi 6.57% 11/21/24
    15 Year Conventional Purchase 5.83% 11/21/24
    15 Year Conventional Refi 6.41% 11/21/24
    15 Year Cash-out Refi 6.41% 11/21/24
    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

    586

    Origination Dollar Volume (All Markets)

    $116,470,000
    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) 419 $47,245,000 $112,757 $979 5.16%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 44 $23,510,000 $534,318 $5,215 3.74%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 16 $9,020,000 $563,750 $5,083 3.81%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 15 $8,135,000 $542,333 $6,907 3.92%
    PITTSBURGH, PA (FHA|USDA|VA) 14 $5,510,000 $393,571 $5,393 3.63%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 9 $3,325,000 $369,444 $5,749 3.67%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $2,120,000 $530,000 $7,443 3.88%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 5 $2,005,000 $401,000 $6,326 3.73%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 6 $1,720,000 $286,667 $5,473 3.75%
    SALISBURY, MD-DE (FHA|USDA|VA) 6 $1,490,000 $248,333 $2,331 4.31%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3 $1,425,000 $475,000 $6,790 3.33%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $1,230,000 $615,000 $4,141 4.00%
    RALEIGH-CARY, NC (FHA|USDA|VA) 2 $1,130,000 $565,000 $9,371 3.44%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $1,120,000 $560,000 $6,470 4.00%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 2 $870,000 $435,000 $5,561 3.63%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 2 $710,000 $355,000 $1,849 4.44%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 3 $635,000 $211,667 $2,278 4.25%
    LANCASTER, PA (FHA|USDA|VA) 2 $590,000 $295,000 $2,634 4.75%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $560,000 $280,000 $3,294 3.69%
    OCEAN CITY, NJ (FHA|USDA|VA) 3 $485,000 $161,667 $1,282 5.45%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $420,000 $210,000 $4,788 3.44%
    Outside of Metro Areas 3 $365,000 $121,667 $3,476 4.88%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $335,000 $335,000 $9,776 3.13%
    SPARTANBURG, SC (FHA|USDA|VA) 1 $255,000 $255,000 $4,820 4.13%
    DOVER, DE (FHA|USDA|VA) 2 $240,000 $120,000 $1,409 5.43%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 3 $235,000 $78,333 $1,214 4.87%
    COLUMBUS, OH (FHA|USDA|VA) 1 $235,000 $235,000 $4,371 3.00%
    STAUNTON, VA (FHA|USDA|VA) 1 $225,000 $225,000 $4,340 3.88%
    COLUMBIA, SC (FHA|USDA|VA) 1 $225,000 $225,000 $609 4.13%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $215,000 $215,000 $3,423 3.63%
    GREENVILLE, NC (FHA|USDA|VA) 1 $205,000 $205,000 $5,037 3.25%
    Lock Haven, PA (FHA|USDA|VA) 1 $175,000 $175,000 $5,119 4.38%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 1 $165,000 $165,000 $4,274 4.50%
    Sheridan, WY (FHA|USDA|VA) 1 $105,000 $105,000 $150 4.74%
    READING, PA (FHA|USDA|VA) 2 $80,000 $40,000 $150 5.62%
    Sunbury, PA (FHA|USDA|VA) 1 $75,000 $75,000 $150 3.74%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $55,000 $55,000 $150 3.99%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $25,000 $25,000 $150 5.24%
    Franklin Mint's top markets include Philadelphia, Washington, Boston, Baltimore, and Pittsburgh among others.

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

    US COMMUNITY
    Similarity Rank: 64
    TRI BORO
    Similarity Rank: 70
    Piscataqua Savings Bank
    Similarity Rank: 118
    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 122
    First Ipswich Bank
    Similarity Rank: 139
    Prudential Bank
    Similarity Rank: 162
    DOMINION ENERGY CREDIT UNION
    Similarity Rank: 165
    American Financial Mortgage Corporation
    Similarity Rank: 172
    CREDIT UNION OF NEW JERSEY
    Similarity Rank: 180
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 210

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 586 $116,470,000 $198,754 $2,125 4.81%

    For 2019, Franklin Mint's most frequently originated type of loan was Conventional, with 586 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 194 $66,990,000 $345,309 $4,905 4.19%
    Home Improvement 153 $8,305,000 $54,281 $174 5.37%
    Refi 122 $23,570,000 $193,197 $1,204 4.70%
    Other 79 $3,485,000 $44,114 $180 5.87%
    Cash Out Refi 38 $14,120,000 $371,579 $3,567 3.91%

    For 2019, Franklin Mint's most frequently cited loan purpose was Home Purchase, with 194 originations. The 2nd most popular reason was Home Improvement, with 153 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 216 $89,140,000 $412,685 $5,056 3.86%
    10 Year 202 $15,800,000 $78,218 $287 5.11%
    15 Year 102 $8,840,000 $86,667 $539 5.71%
    5 Year 51 $1,735,000 $34,020 $159 5.41%
    20 Year 10 $800,000 $80,000 $193 6.67%
    Other 5 $155,000 $31,000 $142 5.59%

    For 2019, Franklin Mint's most frequently cited loan duration was 30 Year, with 216 originations. The 2nd most popular length was 10 Year, with 202 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 423 $48,755,000 $115,260
    $1k-2k 67 $30,435,000 $454,254
    $2k-3k 34 $11,370,000 $334,412
    $3k-4k 28 $11,980,000 $427,857
    $5k+ 12 $7,170,000 $597,500
    $4k-5k 6 $2,440,000 $406,667

    Franklin Mint's average total fees were $5,056, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 423 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 220 $70,840,000 $322,000
    4-5% 148 $30,560,000 $206,486
    5-6% 123 $9,465,000 $76,951
    6-7% 61 $3,005,000 $49,262
    7-8% 22 $750,000 $34,091
    2.5-3% 6 $1,690,000 $281,667
    Over 8% 6 $160,000 $26,667

    During 2019, Franklin Mint's average interest rate for loans was 3.86%, while their most frequently originated rate bucket for loans was 3-4%, with 220 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 301 $14,185,000 $47,126 $292 5.50%
    $200k-400k 111 $32,645,000 $294,099 $4,303 3.97%
    $100k-200k 76 $10,610,000 $139,605 $1,425 4.59%
    $400k-600k 63 $32,495,000 $515,794 $5,975 3.81%
    $600k-1MM 32 $22,710,000 $709,688 $5,641 3.75%
    $1MM+ 3 $3,825,000 $1,275,000 $12,166 4.33%

    2019 saw Franklin Mint place emphasis on $100,000 or less loans with 301 originations, totaling $14,185,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 188 $34,170,000 $181,755 $1,970 4.81%
    $150k-250k 151 $39,415,000 $261,026 $2,891 4.47%
    $75k-100k 89 $9,375,000 $105,337 $1,242 5.19%
    $50k-75k 66 $6,460,000 $97,879 $1,370 5.19%
    $250k+ 47 $20,465,000 $435,426 $3,427 4.30%
    $50k or less 29 $2,265,000 $78,103 $1,457 5.16%

    Franklin Mint lent most frequently to those with incomes in the $100k-150k range, with 188 originations. The second most popular income band? $150k-250k, with 151 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 114 $17,100,000 $150,000 $1,485 4.72%
    30-36% 113 $21,565,000 $190,841 $2,305 4.83%
    42% 33 $8,945,000 $271,061 $2,931 4.71%
    <20% 32 $6,010,000 $187,813 $1,977 4.25%
    43% 29 $7,165,000 $247,069 $2,222 4.82%
    41% 29 $8,435,000 $290,862 $3,247 4.67%
    39% 27 $5,565,000 $206,111 $2,063 5.01%
    40% 25 $6,225,000 $249,000 $1,991 4.67%
    44% 25 $5,265,000 $210,600 $2,839 4.61%
    38% 23 $4,965,000 $215,870 $2,516 4.98%
    37% 20 $3,300,000 $165,000 $1,758 4.90%
    45% 20 $4,630,000 $231,500 $2,100 4.80%
    50-60% 19 $2,685,000 $141,316 $1,827 4.93%
    36% 17 $4,075,000 $239,706 $2,208 5.14%
    >60% 12 $1,470,000 $122,500 $3,084 5.31%
    49% 11 $1,575,000 $143,182 $1,865 5.52%
    47% 10 $1,410,000 $141,000 $1,198 4.79%
    46% 6 $300,000 $50,000 $138 5.56%
    48% 5 $1,465,000 $293,000 $1,759 4.32%

    Franklin Mint lent most frequently to those with DTI ratios of 20-30%, with 114 originations. The next most common DTI ratio? 30-36%, with 113 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 419 $74,115,000 $176,885 $1,877 4.80%
    Not provided 65 $16,815,000 $258,692 $2,943 4.72%
    Asian 36 $14,090,000 $391,389 $4,253 4.03%
    Black 46 $6,630,000 $144,130 $1,562 5.50%
    Not applicable 16 $4,320,000 $270,000 $0 5.26%
    Native Hawaiian or Islander 1 $255,000 $255,000 $5,862 4.50%
    Chinese 1 $105,000 $105,000 $2,411 4.25%
    Asian Indian 1 $95,000 $95,000 $150 3.74%
    American Indian 1 $45,000 $45,000 $112 6.49%

    Approval Rates

    Total approvals of all applications
    75.78%

    Franklin Mint has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    63.48%

    Franklin Mint has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 586 $116,470,000 $198,754

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $65,000 $65,000
    Single Family (1-4 Units):Site-Built 585 $116,405,000 $198,983

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 98 $8,910,000 $90,918 $327 5.05%
    40-60% 42 $8,410,000 $200,238 $1,205 4.56%
    60-80% 106 $35,390,000 $333,868 $4,263 4.37%
    80-100% 143 $55,805,000 $390,245 $4,978 3.99%
    Under 20% 197 $7,955,000 $40,381 $179 5.57%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    FRANKLIN FIRST FINANCIAL, LTD Conventional home mortgage Struggling to pay mortgage 1 100.0%