Deepwater Industries Mortgage Rates, Fees & Info
Pennsville, NJLEI: 5493001VQLW8QLFMIH76
Tax ID: 21-0638039
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Mortgage Data
Review & Overview
Deepwater Industries is a smaller mortgage company specializing in Home Improvement loans. Deepwater Industries has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Vineland, and Atlantic City among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Deepwater Industries 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.
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Originations
39Origination Dollar Volume (All Markets)
$1,945,000Top 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) | 36 | $1,770,000 | $49,167 | $0 | 0.00% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 0.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 39 | $1,945,000 | $49,872 | $0 | 0.00% |
For 2023, Deepwater Industries's most frequently originated type of loan was Conventional, with 39 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 38 | $1,790,000 | $47,105 | $0 | 0.00% |
| Cash Out Refi | 1 | $155,000 | $155,000 | $0 | 0.00% |
For 2023, Deepwater Industries's most frequently cited loan purpose was Home Improvement, with 38 originations. The 2nd most popular reason was Cash Out Refi, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 39 | $1,945,000 | $49,872 | $0 | 0.00% |
For 2023, Deepwater Industries's most frequently cited loan duration was Other, with 39 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 35 | $1,445,000 | $41,286 | $0 | 0.00% |
| $100k-200k | 4 | $500,000 | $125,000 | $0 | 0.00% |
2023 saw Deepwater Industries place emphasis on $100,000 or less loans with 35 originations, totaling $1,445,000 in origination value.
Applicant Income
Deepwater Industries lent most frequently to those with incomes in the $100k-150k range, with 14 originations. The second most popular income band? $150k-250k, with 10 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 39 | $1,945,000 | $49,872 | $0 | 0.00% |
Deepwater Industries lent most frequently to those with DTI ratios of Exempt%, with 39 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 35 | $1,785,000 | $51,000 | $0 | 0.00% |
| Black | 3 | $135,000 | $45,000 | $0 | 0.00% |
| Asian | 1 | $25,000 | $25,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications95.24%
Deepwater Industries has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination97.44%
Deepwater Industries 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 |
|---|---|---|---|
| Exempt | 39 | $1,945,000 | $49,872 |