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, Baltimore, Boston, and Pittsburgh among others. We have data for 35 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% 11/17/24
    30 Year Conventional Purchase 6.07% 11/17/24
    30 Year Conventional Refi 6.01% 11/17/24
    30 Year Cash-out Refi 6.57% 11/17/24
    15 Year Conventional Purchase 5.83% 11/17/24
    15 Year Conventional Refi 6.41% 11/17/24
    15 Year Cash-out Refi 6.41% 11/17/24
    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.

    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

    572

    Origination Dollar Volume (All Markets)

    $168,270,000

    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) 387 $68,035,000 $175,801 $1,890 4.25%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 46 $28,610,000 $621,957 $4,903 3.24%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 42 $26,570,000 $632,619 $6,490 3.14%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 19 $13,425,000 $706,579 $4,570 3.30%
    PITTSBURGH, PA (FHA|USDA|VA) 10 $4,320,000 $432,000 $7,356 3.24%
    OCEAN CITY, NJ (FHA|USDA|VA) 10 $3,540,000 $354,000 $3,150 3.51%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 5 $3,205,000 $641,000 $4,852 3.48%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 4 $2,060,000 $515,000 $7,411 3.50%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 5 $1,905,000 $381,000 $5,384 3.25%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $1,520,000 $760,000 $9,295 3.63%
    RICHMOND, VA (FHA|USDA|VA) 3 $1,435,000 $478,333 $4,733 3.25%
    WORCESTER, MA-CT (FHA|USDA|VA) 2 $1,330,000 $665,000 $4,068 3.38%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 3 $1,235,000 $411,667 $3,177 3.25%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 2 $1,230,000 $615,000 $8,679 3.25%
    SALISBURY, MD-DE (FHA|USDA|VA) 3 $1,145,000 $381,667 $4,796 3.50%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 2 $850,000 $425,000 $5,281 3.44%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $695,000 $695,000 $7,355 3.13%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $615,000 $615,000 $20,193 3.38%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $600,000 $300,000 $6,018 3.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $595,000 $595,000 $3,440 3.13%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $575,000 $575,000 $3,725 3.00%
    LANCASTER, PA (FHA|USDA|VA) 3 $565,000 $188,333 $2,330 3.33%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $565,000 $188,333 $5,132 3.37%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $555,000 $555,000 $4,366 3.50%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $550,000 $275,000 $6,726 3.00%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $475,000 $475,000 $4,192 3.00%
    WINCHESTER, VA-WV (FHA|USDA|VA) 1 $435,000 $435,000 $2,852 2.63%
    ERIE, PA (FHA|USDA|VA) 2 $370,000 $185,000 $3,333 3.38%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $300,000 $150,000 $2,056 4.63%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $285,000 $285,000 $2,736 2.63%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $205,000 $205,000 $8,920 2.75%
    READING, PA (FHA|USDA|VA) 1 $145,000 $145,000 $2,615 4.00%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $125,000 $125,000 $2,505 2.75%
    WILLIAMSPORT, PA (FHA|USDA|VA) 1 $105,000 $105,000 $2,564 3.63%
    TERRE HAUTE, IN (FHA|USDA|VA) 1 $95,000 $95,000 $2,124 3.38%
    Franklin Mint's top markets include Philadelphia, Washington, Baltimore, Boston, and Pittsburgh among others.

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

    M. S. Flynn, Inc.
    Similarity Rank: 236
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    TRI BORO
    Similarity Rank: 264
    The Glen Burnie Mutual Savings Bank
    Similarity Rank: 271
    Piscataqua Savings Bank
    Similarity Rank: 310
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 456
    COMMUNITY CREDIT UNION OF LYNN
    Similarity Rank: 525
    First Citizens Community Bank
    Similarity Rank: 589
    Bridgewater Savings Bank
    Similarity Rank: 600
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 623

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 572 $168,270,000 $294,178 $3,048 3.93%

    For 2020, Franklin Mint's most frequently originated type of loan was Conventional, with 572 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 255 $108,685,000 $426,216 $5,180 3.45%
    Refi 140 $34,170,000 $244,071 $1,916 3.78%
    Home Improvement 85 $4,535,000 $53,353 $157 5.13%
    Other 51 $2,665,000 $52,255 $201 5.28%
    Cash Out Refi 41 $18,215,000 $444,268 $3,739 3.30%

    For 2020, Franklin Mint's most frequently cited loan purpose was Home Purchase, with 255 originations. The 2nd most popular reason was Refi, with 140 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 303 $140,375,000 $463,284 $5,065 3.31%
    10 Year 126 $11,730,000 $93,095 $223 4.56%
    15 Year 87 $12,535,000 $144,080 $1,157 4.47%
    5 Year 33 $975,000 $29,545 $185 5.12%
    Other 14 $1,520,000 $108,571 $293 4.65%
    20 Year 7 $1,085,000 $155,000 $1,941 5.14%
    3 Year 2 $50,000 $25,000 $150 6.44%

    For 2020, Franklin Mint's most frequently cited loan duration was 30 Year, with 303 originations. The 2nd most popular length was 10 Year, with 126 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 379 $64,815,000 $171,016
    $1k-2k 119 $69,455,000 $583,655
    $5k+ 19 $12,265,000 $645,526
    $3k-4k 14 $6,480,000 $462,857
    $2k-3k 12 $5,610,000 $467,500
    $4k-5k 9 $4,925,000 $547,222

    Franklin Mint's average total fees were $5,065, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 379 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 353 $121,415,000 $343,952
    2.5-3% 81 $36,535,000 $451,049
    4-5% 54 $6,740,000 $124,815
    5-6% 48 $2,180,000 $45,417
    6-7% 28 $1,080,000 $38,571
    7-8% 6 $280,000 $46,667
    Over 8% 2 $40,000 $20,000

    During 2020, Franklin Mint's average interest rate for loans was 3.31%, while their most frequently originated rate bucket for loans was 3-4%, with 353 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 196 $10,010,000 $51,071 $293 4.90%
    $200k-400k 110 $31,730,000 $288,455 $3,854 3.40%
    $400k-600k 90 $46,500,000 $516,667 $5,390 3.24%
    $100k-200k 85 $12,035,000 $141,588 $1,859 3.82%
    $600k-1MM 85 $61,645,000 $725,235 $6,449 3.25%
    $1MM+ 6 $6,350,000 $1,058,333 $10,957 3.48%

    2020 saw Franklin Mint place emphasis on $100,000 or less loans with 196 originations, totaling $10,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 166 $62,110,000 $374,157 $3,605 3.77%
    $100k-150k 131 $29,935,000 $228,511 $2,499 4.10%
    $75k-100k 86 $14,050,000 $163,372 $2,009 4.19%
    $250k+ 76 $44,780,000 $589,211 $5,340 3.47%
    $50k-75k 62 $8,480,000 $136,774 $2,072 3.99%
    $50k or less 27 $2,545,000 $94,259 $1,392 4.29%

    Franklin Mint lent most frequently to those with incomes in the $150k-250k range, with 166 originations. The second most popular income band? $100k-150k, with 131 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 129 $33,925,000 $262,984 $2,644 3.77%
    30-36% 113 $33,665,000 $297,920 $3,065 3.83%
    <20% 37 $8,965,000 $242,297 $2,640 3.69%
    41% 31 $10,155,000 $327,581 $3,482 3.75%
    38% 25 $6,695,000 $267,800 $3,184 3.99%
    43% 24 $8,090,000 $337,083 $2,872 3.87%
    39% 23 $7,855,000 $341,522 $4,068 3.66%
    44% 23 $8,655,000 $376,304 $3,871 3.85%
    42% 22 $10,150,000 $461,364 $5,049 3.55%
    50-60% 21 $3,295,000 $156,905 $1,231 4.89%
    40% 19 $4,265,000 $224,474 $2,138 4.58%
    37% 18 $5,580,000 $310,000 $4,019 4.33%
    36% 18 $7,860,000 $436,667 $4,500 3.95%
    47% 11 $2,765,000 $251,364 $2,695 4.32%
    49% 10 $2,170,000 $217,000 $1,184 4.34%
    45% 10 $4,110,000 $411,000 $3,524 3.92%
    46% 7 $3,235,000 $462,143 $4,779 3.89%
    48% 7 $1,245,000 $177,857 $1,374 4.48%
    >60% 5 $905,000 $181,000 $1,723 4.67%

    Franklin Mint lent most frequently to those with DTI ratios of 20-30%, with 129 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 382 $100,900,000 $264,136 $2,683 3.98%
    Asian 46 $22,690,000 $493,261 $5,468 3.30%
    Not provided 64 $20,700,000 $323,438 $3,286 3.68%
    Black 50 $12,240,000 $244,800 $2,291 4.47%
    Not applicable 19 $4,685,000 $246,579 $0 4.34%
    Asian Indian 6 $3,440,000 $573,333 $8,452 3.15%
    American Indian 4 $2,760,000 $690,000 $7,735 3.28%
    Native Hawaiian or Islander 1 $855,000 $855,000 $1,917 3.25%

    Approval Rates

    Total approvals of all applications
    80.08%

    Franklin Mint has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    61.01%

    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 572 $168,270,000 $294,178

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $1,225,000 $408,333
    Single Family (1-4 Units):Site-Built 569 $167,045,000 $293,576

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 78 $9,740,000 $124,872 $659 4.29%
    40-60% 38 $10,720,000 $282,105 $2,474 3.86%
    60-80% 113 $53,885,000 $476,858 $4,459 3.38%
    80-100% 214 $88,140,000 $411,869 $5,050 3.41%
    Under 20% 129 $5,785,000 $44,845 $171 5.09%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    FRANKLIN FIRST FINANCIAL, LTD Conventional home mortgage Trouble during payment process 1 50.0%
    FRANKLIN FIRST FINANCIAL, LTD Reverse mortgage Trouble during payment process 1 50.0%