Greater Pittsburgh Police Mortgage Rates, Fees & Info
Pittsburgh, PALEI: 5493001XNU40KOITE062
Tax ID: 25-0974249
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Mortgage Data
Review & Overview
Greater Pittsburgh Police is a smaller mortgage company specializing in Other loans. Greater Pittsburgh Police has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top (well, only) market is Pittsburgh.Greater Pittsburgh Police 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
34Origination Dollar Volume (All Markets)
$2,210,000Top Markets
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| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| PITTSBURGH, PA (FHA|USDA|VA) | 34 | $2,210,000 | $65,000 | $360 | 3.63% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 33 | $2,055,000 | $62,273 | $360 | 3.64% |
| FHA | 1 | $155,000 | $155,000 | $0 | 3.25% |
For 2021, Greater Pittsburgh Police's most frequently originated type of loan was Conventional, with 33 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 27 | $1,755,000 | $65,000 | $360 | 3.50% |
| Home Improvement | 5 | $195,000 | $39,000 | $0 | 4.15% |
| Cash Out Refi | 2 | $260,000 | $130,000 | $0 | 4.00% |
For 2021, Greater Pittsburgh Police's most frequently cited loan purpose was Other, with 27 originations. The 2nd most popular reason was Home Improvement, with 5 originations.
Loan Duration/Length
For 2021, Greater Pittsburgh Police's most frequently cited loan duration was 10 Year, with 10 originations. The 2nd most popular length was 15 Year, with 8 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 31 | $2,045,000 | $65,968 |
Greater Pittsburgh Police's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 31 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 21 | $1,345,000 | $64,048 |
| <2.5% | 5 | $355,000 | $71,000 |
| 4-5% | 3 | $245,000 | $81,667 |
| 5-6% | 3 | $215,000 | $71,667 |
| 2.5-3% | 1 | $15,000 | $15,000 |
During 2021, Greater Pittsburgh Police's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 21 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 32 | $1,890,000 | $59,063 | $360 | 3.64% |
| $100k-200k | 2 | $320,000 | $160,000 | $0 | 3.38% |
2021 saw Greater Pittsburgh Police place emphasis on $100,000 or less loans with 32 originations, totaling $1,890,000 in origination value.
Applicant Income
Greater Pittsburgh Police lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $75k-100k, with 10 originations.
Applicant Debt to Income Ratio
Greater Pittsburgh Police lent most frequently to those with DTI ratios of 20-30%, with 13 originations. The next most common DTI ratio? 30-36%, with 5 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 29 | $1,775,000 | $61,207 | $360 | 3.52% |
| Black | 5 | $435,000 | $87,000 | $0 | 4.25% |
Approval Rates
Total approvals of all applications92.68%
Greater Pittsburgh Police has an average approval rate.
Pick Rate
Approvals leading to origination91.18%
Greater Pittsburgh Police has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 34 | $2,210,000 | $65,000 |