Developer's Mortgage Company Rates, Fees & Info
COLUMBUS, OHLEI: 5493002JA8HUVL2CRT33
Tax ID: 31-0985486
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Mortgage Data
Review & Overview
Developer's Mortgage Company is a smaller mortgage company specializing in Home Purchase loans. Developer's Mortgage Company has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Philadelphia, Pittsburgh, Columbus, Wheeling, and Atlanta among others. We have data for 60 markets. (Some data included below & more in-depth data is available with an active subscription.)Developer's Mortgage Company has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Developer's Mortgage Company 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.02% | 9/25/23 |
| 30 Year Conventional Refi | 6.87% | 9/25/23 |
| 30 Year Cash-out Refi | 6.88% | 9/25/23 |
| 30 Year FHA Purchase | 7.22% | 9/25/23 |
| 30 Year FHA Refi | 7.30% | 9/25/23 |
| 30 Year VA Purchase | 6.20% | 9/25/23 |
| 30 Year VA Refi | 6.63% | 9/25/23 |
| 30 Year USDA Purchase | 6.59% | 9/25/23 |
| 15 Year Conventional Purchase | 6.51% | 9/25/23 |
| 15 Year Conventional Refi | 6.33% | 9/25/23 |
| 15 Year Cash-out Refi | 6.33% | 9/25/23 |
| 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. | ||
Developer's Mortgage Company Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
696Origination Dollar Volume (All Markets)
$178,730,000Awards
DEVELOPER'S MORTGAGE COMPANY - 2022
DEVELOPER'S MORTGAGE COMPANY is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
Developer's Mortgage Company's average 30 year fixed mortgage rate was
5.28%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.52%.
Relative Fees (Closing Costs)
Developer's Mortgage Company's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,986.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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) | 160 | $48,200,000 | $301,250 | $8,007 | 5.49% |
| PITTSBURGH, PA (FHA|USDA|VA) | 168 | $31,280,000 | $186,190 | $4,684 | 5.06% |
| COLUMBUS, OH (FHA|USDA|VA) | 55 | $19,235,000 | $349,727 | $5,094 | 4.98% |
| WHEELING, WV-OH (FHA|USDA|VA) | 59 | $9,045,000 | $153,305 | $3,992 | 5.05% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 23 | $6,405,000 | $278,478 | $6,639 | 4.92% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 14 | $5,970,000 | $426,429 | $10,757 | 4.21% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 16 | $5,020,000 | $313,750 | $5,988 | 5.49% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 10 | $4,450,000 | $445,000 | $7,044 | 4.95% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 11 | $4,265,000 | $387,727 | $8,809 | 5.40% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 21 | $3,755,000 | $178,810 | $6,390 | 6.84% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 8 | $3,390,000 | $423,750 | $4,855 | 5.23% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 14 | $3,380,000 | $241,429 | $8,163 | 4.63% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 9 | $3,075,000 | $341,667 | $5,968 | 6.28% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 9 | $2,465,000 | $273,889 | $8,835 | 5.51% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 6 | $2,450,000 | $408,333 | $6,430 | 5.48% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $2,265,000 | $453,000 | $5,165 | 6.48% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 4 | $1,810,000 | $452,500 | $5,775 | 6.69% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 7 | $1,675,000 | $239,286 | $4,877 | 5.91% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 5 | $1,575,000 | $315,000 | $7,032 | 4.38% |
| Outside of Metro Areas | 8 | $1,490,000 | $186,250 | $3,525 | 5.70% |
| New Castle, PA (FHA|USDA|VA) | 9 | $1,415,000 | $157,222 | $4,922 | 5.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 4 | $1,280,000 | $320,000 | $3,580 | 6.25% |
| WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) | 10 | $1,220,000 | $122,000 | $3,154 | 4.89% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 3 | $1,115,000 | $371,667 | $5,449 | 6.04% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 4 | $1,110,000 | $277,500 | $3,610 | 4.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $4,705 | 4.75% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $15,619 | 4.50% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $4,135 | 9.50% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $4,033 | 5.94% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $2,987 | 4.33% |
| Jackson, OH (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $4,293 | 6.53% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $8,016 | 4.50% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $2,792 | 4.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $12,156 | 5.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $6,495 | 2.88% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $5,349 | 5.31% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $12,513 | 6.50% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $13,256 | 9.25% |
| FLORENCE, SC (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $4,403 | 4.75% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $3,256 | 4.56% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $7,658 | 4.75% |
| Meadville, PA (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $2,273 | 4.58% |
| Salem, OH (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $5,188 | 4.50% |
| Cambridge, MD (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $6,218 | 8.50% |
| LANCASTER, PA (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $4,034 | 5.13% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,261 | 4.25% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,135 | 5.38% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,793 | 5.13% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,425 | 3.63% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $4,932 | 5.31% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,166 | 4.13% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,642 | 5.50% |
| Lock Haven, PA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $7,526 | 5.50% |
| Lewistown, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,209 | 5.50% |
| Mount Vernon, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,836 | 5.25% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,430 | 5.50% |
| BECKLEY, WV (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,912 | 5.00% |
| AKRON, OH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,785 | 3.25% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,843 | 5.88% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,820 | 5.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against DEVELOPER'S MORTGAGE COMPANY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2022, Developer's Mortgage Company's most frequently originated type of loan was Conventional, with 461 originations. Their 2nd most popular type was FHA, with 155 originations.
Loan Reason
For 2022, Developer's Mortgage Company's most frequently cited loan purpose was Home Purchase, with 617 originations. The 2nd most popular reason was Refi, with 52 originations.
Loan Duration/Length
For 2022, Developer's Mortgage Company's most frequently cited loan duration was 30 Year, with 673 originations. The 2nd most popular length was 15 Year, with 15 originations.
Origination Fees/Closing Costs
Developer's Mortgage Company's average total fees were $5,986, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 302 originations.
Interest Rates
During 2022, Developer's Mortgage Company's average interest rate for loans was 5.28%, while their most frequently originated rate bucket for loans was 5-6%, with 223 originations.
Loan Sizing
2022 saw Developer's Mortgage Company place emphasis on $200k-400k loans with 299 originations, totaling $85,235,000 in origination value.
Applicant Income
Developer's Mortgage Company lent most frequently to those with incomes in the $50k-75k range, with 173 originations. The second most popular income band? $100k-150k, with 142 originations.
Applicant Debt to Income Ratio
Developer's Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 116 originations. The next most common DTI ratio? 30-36%, with 111 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.78%
Developer's Mortgage Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination60.34%
Developer's Mortgage Company 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 | 696 | $178,730,000 | $256,796 |