Developer's Mortgage Company Rates, Fees & Info
COLUMBUS, OHLEI: 5493002JA8HUVL2CRT33
Tax ID: 31-0985486
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Developer's Mortgage Company is a smaller mortgage company specializing in Home Purchase and Refi 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 include Philadelphia, New York, Pittsburgh, Columbus, and Wheeling among others. Developer's Mortgage Company has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Developer's Mortgage Company is typically an average fee lendor.Originations
1,023Origination Dollar Volume (All Markets)
$264,945,000Awards
DEVELOPER'S MORTGAGE COMPANY - 2021
DEVELOPER'S MORTGAGE COMPANY is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Developer's Mortgage Company's average 30 year fixed rate mortgage of loans were
3.27%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.12%.
Relative Fees
Developer's Mortgage Company's average total fees for a 30 year fixed rate
mortgage are $4,866.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 268 | $71,930,000 | $268,396 | $4,933 | 3.26% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 99 | $31,205,000 | $315,202 | $6,261 | 3.14% |
| PITTSBURGH, PA (FHA|USDA|VA) | 143 | $27,905,000 | $195,140 | $4,559 | 2.95% |
| COLUMBUS, OH (FHA|USDA|VA) | 84 | $25,150,000 | $299,405 | $4,268 | 2.90% |
| WHEELING, WV-OH (FHA|USDA|VA) | 68 | $11,490,000 | $168,971 | $3,541 | 3.02% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 23 | $8,975,000 | $390,217 | $4,249 | 3.54% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 20 | $8,100,000 | $405,000 | $4,559 | 3.64% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 31 | $7,515,000 | $242,419 | $4,610 | 3.08% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 26 | $5,320,000 | $204,615 | $5,169 | 4.44% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 17 | $4,955,000 | $291,471 | $4,430 | 3.46% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 15 | $4,505,000 | $300,333 | $6,228 | 2.94% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 20 | $4,450,000 | $222,500 | $6,914 | 3.21% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 11 | $3,715,000 | $337,727 | $2,319 | 3.18% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 9 | $3,445,000 | $382,778 | $4,503 | 3.29% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 11 | $2,655,000 | $241,364 | $3,609 | 3.13% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 6 | $2,400,000 | $400,000 | $5,732 | 3.60% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 8 | $2,390,000 | $298,750 | $4,468 | 3.55% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 8 | $2,300,000 | $287,500 | $3,418 | 3.25% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $1,985,000 | $661,667 | $8,762 | 2.67% |
| Outside of Metro Areas | 10 | $1,960,000 | $196,000 | $4,389 | 3.18% |
| WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) | 14 | $1,780,000 | $127,143 | $3,091 | 3.08% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 5 | $1,665,000 | $333,000 | $5,603 | 2.95% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 6 | $1,530,000 | $255,000 | $2,829 | 3.10% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 3 | $1,275,000 | $425,000 | $6,830 | 2.71% |
| READING, PA (FHA|USDA|VA) | 6 | $1,270,000 | $211,667 | $5,103 | 3.04% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 6 | $1,220,000 | $203,333 | $4,658 | 3.10% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 4 | $1,200,000 | $300,000 | $5,023 | 3.53% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 4 | $1,140,000 | $285,000 | $3,616 | 2.63% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 4 | $1,120,000 | $280,000 | $4,066 | 3.69% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 4 | $1,050,000 | $262,500 | $4,340 | 3.50% |
| New Castle, PA (FHA|USDA|VA) | 8 | $970,000 | $121,250 | $2,702 | 3.27% |
| ASHEVILLE, NC (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $2,662 | 2.88% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 4 | $890,000 | $222,500 | $7,564 | 3.19% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $3,463 | 2.69% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 5 | $715,000 | $143,000 | $3,118 | 3.10% |
| Meadville, PA (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $5,425 | 3.13% |
| Georgetown, SC (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $3,447 | 3.08% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $5,531 | 3.96% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $3,056 | 3.31% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $3,072 | 2.69% |
| PARKERSBURG-VIENNA, WV (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $3,397 | 3.79% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $12,773 | 3.25% |
| PANAMA CITY, FL (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $6,410 | 3.06% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $3,778 | 4.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $7,211 | 3.13% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $4,181 | 3.50% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $5,069 | 3.63% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $3,168 | 3.56% |
| Paris, TX (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $3,247 | 2.63% |
| GETTYSBURG, PA (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $5,971 | 3.25% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $6,881 | 3.19% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,654 | 5.75% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $675 | 3.38% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $3,572 | 3.75% |
| Palatka, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $5,649 | 2.88% |
| Bellefontaine, OH (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $6,991 | 5.50% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $6,246 | 2.63% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,571 | 2.13% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $2,525 | 2.94% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $970 | 3.13% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,482 | 2.00% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,091 | 2.75% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,196 | 2.88% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,342 | 3.38% |
| ALTOONA, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,129 | 3.13% |
| PEORIA, IL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,404 | 2.63% |
| Chillicothe, OH (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,934 | 2.50% |
| Indiana, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,720 | 2.88% |
| Cambridge, OH (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,537 | 3.00% |
| ROME, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,514 | 3.25% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,841 | 3.25% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,429 | 3.25% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,616 | 2.88% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,501 | 3.25% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,469 | 2.75% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,685 | 3.13% |
| Salem, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,433 | 2.88% |
| OCALA, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,489 | 3.00% |
Developer's Mortgage Company's top markets include Philadelphia, New York, Pittsburgh, Columbus, and Wheeling among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 756 | $200,710,000 | $265,489 | $4,033 | 3.27% |
| FHA | 196 | $46,630,000 | $237,908 | $7,192 | 2.99% |
| VA | 40 | $13,140,000 | $328,500 | $6,505 | 2.76% |
| USDA | 31 | $4,465,000 | $144,032 | $4,369 | 2.89% |
For the 2021 period, Developer's Mortgage Company's most frequently originated loan type of loans were Conventional, with 756 originations. Their 2nd most popular type is FHA, with 196 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 728 | $192,990,000 | $265,096 | $4,833 | 3.28% |
| Refi | 246 | $58,740,000 | $238,780 | $4,381 | 2.92% |
| Cash Out Refi | 43 | $11,675,000 | $271,512 | $5,205 | 2.99% |
| Home Improvement | 4 | $1,160,000 | $290,000 | $6,100 | 2.72% |
| NA | 2 | $380,000 | $190,000 | $6,030 | 6.38% |
For the 2021, Developer's Mortgage Company's most frequently cited loan purpose of loans were Home Purchase, with 728 originations. The 2nd most popular reason of loans were Refi, with 246 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 887 | $231,485,000 | $260,975 | $4,866 | 3.27% |
| 15 Year | 93 | $22,205,000 | $238,763 | $3,789 | 2.50% |
| 20 Year | 35 | $9,605,000 | $274,429 | $4,154 | 2.81% |
| 10 Year | 4 | $530,000 | $132,500 | $3,848 | 2.38% |
| Other | 4 | $1,120,000 | $280,000 | $6,854 | 3.19% |
For the 2021, Developer's Mortgage Company's most frequently cited loan length of loans were 30 Year, with 887 originations. The 2nd most popular length of loans were 15 Year, with 93 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 749 | $192,735,000 | $257,323 |
| $1k-2k | 133 | $30,855,000 | $231,992 |
| $3k-4k | 52 | $13,800,000 | $265,385 |
| $2k-3k | 51 | $13,345,000 | $261,667 |
| $5k+ | 35 | $13,665,000 | $390,429 |
$4,866 of loans were Developer's Mortgage Company's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 749 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 425 | $108,865,000 | $256,153 |
| 2.5-3% | 381 | $98,945,000 | $259,698 |
| <2.5% | 147 | $37,755,000 | $256,837 |
| 4-5% | 28 | $6,950,000 | $248,214 |
| 5-6% | 19 | $6,425,000 | $338,158 |
| 6-7% | 15 | $3,865,000 | $257,667 |
| 7-8% | 6 | $1,880,000 | $313,333 |
| Over 8% | 2 | $260,000 | $130,000 |
During 2021, Developer's Mortgage Company's average interest rate of loans were 3.27%, while their most frequently originated rate bucket of loans were 3-4%, with 425 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 504 | $142,760,000 | $283,254 | $5,003 | 3.15% |
| $100k-200k | 317 | $49,685,000 | $156,735 | $4,117 | 3.19% |
| $400k-600k | 131 | $60,815,000 | $464,237 | $5,562 | 3.13% |
| $100,000 or less | 62 | $4,950,000 | $79,839 | $2,981 | 3.37% |
| $600k-1MM | 8 | $5,430,000 | $678,750 | $12,160 | 4.84% |
| $1MM+ | 1 | $1,305,000 | $1,305,000 | $18,275 | 2.25% |
2021 saw Developer's Mortgage Company place emphasis on $200k-400k loans with 504 originations, totaling $142,760,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 241 | $50,415,000 | $209,191 | $4,746 | 3.16% |
| $100k-150k | 225 | $69,105,000 | $307,133 | $4,993 | 3.10% |
| $75k-100k | 170 | $42,850,000 | $252,059 | $5,149 | 3.14% |
| $50k or less | 159 | $25,255,000 | $158,836 | $4,325 | 3.21% |
| $150k-250k | 156 | $50,880,000 | $326,154 | $4,289 | 3.24% |
| $250k+ | 66 | $24,960,000 | $378,182 | $4,959 | 3.51% |
Developer's Mortgage Company lent most frequently to those with incomes in the $50k-75k range, with 241 originations. The second most popular income band? $100k-150k, with 225 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 227 | $58,015,000 | $255,573 | $4,260 | 3.20% |
| 30-36% | 165 | $44,855,000 | $271,848 | $4,517 | 3.08% |
| <20% | 85 | $20,125,000 | $236,765 | $4,098 | 3.13% |
| 44% | 46 | $12,100,000 | $263,043 | $4,962 | 3.31% |
| 42% | 45 | $12,505,000 | $277,889 | $4,500 | 3.36% |
| 50-60% | 45 | $12,495,000 | $277,667 | $7,787 | 3.14% |
| 43% | 44 | $11,730,000 | $266,591 | $4,483 | 3.22% |
| 40% | 43 | $12,015,000 | $279,419 | $4,214 | 3.13% |
| 39% | 40 | $11,320,000 | $283,000 | $4,463 | 3.23% |
| 41% | 37 | $8,345,000 | $225,541 | $4,356 | 3.14% |
| 45% | 35 | $8,955,000 | $255,857 | $5,942 | 3.13% |
| 48% | 33 | $7,785,000 | $235,909 | $4,313 | 3.20% |
| 46% | 31 | $8,185,000 | $264,032 | $5,221 | 3.01% |
| 37% | 29 | $7,405,000 | $255,345 | $5,468 | 3.14% |
| 38% | 28 | $6,690,000 | $238,929 | $5,113 | 3.31% |
| 47% | 28 | $6,980,000 | $249,286 | $5,200 | 3.09% |
| 36% | 27 | $6,265,000 | $232,037 | $4,831 | 3.23% |
| 49% | 22 | $6,020,000 | $273,636 | $5,812 | 3.09% |
| >60% | 5 | $1,015,000 | $203,000 | $6,891 | 5.48% |
Developer's Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 227 originations. The next most common DTI ratio? 30-36%, with 165 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 799 | $203,015,000 | $254,086 | $4,677 | 3.17% |
| Asian | 92 | $26,170,000 | $284,457 | $3,756 | 3.26% |
| Black | 95 | $25,425,000 | $267,632 | $6,278 | 3.02% |
| Not provided | 23 | $5,935,000 | $258,043 | $4,932 | 3.94% |
| American Indian | 6 | $1,990,000 | $331,667 | $5,780 | 3.13% |
| Asian Indian | 3 | $1,025,000 | $341,667 | $3,473 | 3.00% |
| Other Asian | 2 | $760,000 | $380,000 | $3,031 | 3.19% |
| Native Hawaiian | 2 | $480,000 | $240,000 | $3,347 | 3.00% |
| Not applicable | 1 | $145,000 | $145,000 | $5,651 | 7.00% |
Approval Rates
Total approvals of all applications94.97%
Developer's Mortgage Company has an average approval rate.
Pick Rate
Approvals leading to origination72.95%
Developer's Mortgage Company has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,023 | $264,945,000 | $258,988 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,023 | $264,945,000 | $258,988 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 22 | $4,460,000 | $202,727 | $3,661 | 2.65% |
| 40-60% | 96 | $19,800,000 | $206,250 | $3,570 | 2.89% |
| 60-80% | 344 | $93,920,000 | $273,023 | $4,416 | 3.35% |
| 80-100% | 549 | $143,315,000 | $261,047 | $5,125 | 3.16% |
| Over 100% | 10 | $3,200,000 | $320,000 | $9,568 | 2.81% |
| Under 20% | 2 | $250,000 | $125,000 | $2,034 | 3.06% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Developers Mortgage Co. | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |
