Developer's Mortgage Company Rates, Fees & Info

COLUMBUS, OH

LEI: 5493002JA8HUVL2CRT33

Tax ID: 31-0985486

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • 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

    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 by origination volume include: Philadelphia, New York, Columbus, Cincinnati, and Orlando 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 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
    30 Year Conventional Purchase 7.02% 12/16/24
    30 Year Conventional Refi 6.87% 12/16/24
    30 Year Cash-out Refi 6.88% 12/16/24
    30 Year FHA Purchase 7.22% 12/16/24
    30 Year FHA Refi 7.30% 12/16/24
    30 Year VA Purchase 6.20% 12/16/24
    30 Year VA Refi 6.63% 12/16/24
    30 Year USDA Purchase 6.59% 12/16/24
    15 Year Conventional Purchase 6.51% 12/16/24
    15 Year Conventional Refi 6.33% 12/16/24
    15 Year Cash-out Refi 6.33% 12/16/24
    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.

    Developer's Mortgage Company Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Developer's Mortgage Company. 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

    738

    Origination Dollar Volume (All Markets)

    $199,190,000
    Show all (9) awards

    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) 231 $60,985,000 $264,004 $4,875 3.04%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 118 $36,910,000 $312,797 $6,056 3.08%
    COLUMBUS, OH (FHA|USDA|VA) 99 $29,245,000 $295,404 $4,401 3.06%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 23 $8,935,000 $388,478 $3,101 3.39%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 25 $8,315,000 $332,600 $5,349 3.36%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 24 $6,820,000 $284,167 $6,906 3.23%
    READING, PA (FHA|USDA|VA) 33 $5,455,000 $165,303 $4,803 3.45%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 21 $4,605,000 $219,286 $4,108 3.46%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 12 $3,140,000 $261,667 $6,285 3.26%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 17 $2,675,000 $157,353 $3,341 3.46%
    RALEIGH-CARY, NC (FHA|USDA|VA) 7 $2,365,000 $337,857 $4,055 3.18%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 9 $1,995,000 $221,667 $3,867 3.08%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 10 $1,830,000 $183,000 $3,002 3.18%
    Outside of Metro Areas 7 $1,755,000 $250,714 $3,975 3.07%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 6 $1,630,000 $271,667 $4,056 3.46%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 6 $1,570,000 $261,667 $5,697 3.73%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $1,500,000 $375,000 $5,961 2.97%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $1,460,000 $730,000 $2,031 3.00%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 5 $1,295,000 $259,000 $5,198 3.25%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $1,150,000 $287,500 $5,709 2.91%
    COLUMBIA, SC (FHA|USDA|VA) 7 $1,025,000 $146,429 $3,233 3.91%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 4 $950,000 $237,500 $3,306 4.22%
    WHEELING, WV-OH (FHA|USDA|VA) 5 $935,000 $187,000 $1,914 2.85%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $920,000 $460,000 $3,673 3.63%
    AKRON, OH (FHA|USDA|VA) 4 $810,000 $202,500 $3,432 3.84%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $800,000 $400,000 $3,440 3.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $755,000 $251,667 $1,451 3.17%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 3 $685,000 $228,333 $4,006 4.42%
    LANCASTER, PA (FHA|USDA|VA) 3 $685,000 $228,333 $7,094 3.79%
    PITTSBURGH, PA (FHA|USDA|VA) 3 $605,000 $201,667 $3,478 2.79%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $510,000 $255,000 $5,335 5.30%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $470,000 $235,000 $1,464 2.94%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $470,000 $235,000 $6,266 2.88%
    SPRINGFIELD, OH (FHA|USDA|VA) 2 $450,000 $225,000 $5,002 3.25%
    OCEAN CITY, NJ (FHA|USDA|VA) 2 $380,000 $190,000 $3,745 2.94%
    Clarksburg, WV (FHA|USDA|VA) 1 $335,000 $335,000 $1,386 3.13%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $325,000 $325,000 $2,851 2.75%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 3 $305,000 $101,667 $1,911 4.83%
    WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 2 $270,000 $135,000 $2,704 2.94%
    Holland, MI (FHA|USDA|VA) 1 $265,000 $265,000 $3,131 2.63%
    BOULDER, CO (FHA|USDA|VA) 1 $255,000 $255,000 $2,914 3.50%
    Mount Vernon, OH (FHA|USDA|VA) 1 $255,000 $255,000 $2,223 2.63%
    CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $255,000 $255,000 $3,106 3.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $245,000 $245,000 $495 2.88%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $235,000 $235,000 $4,321 2.38%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $225,000 $225,000 $7,278 3.38%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 2 $220,000 $110,000 $3,392 3.75%
    Dublin, GA (FHA|USDA|VA) 1 $185,000 $185,000 $6,777 2.75%
    LEBANON, PA (FHA|USDA|VA) 1 $185,000 $185,000 $9,406 3.75%
    MIDLAND, TX (FHA|USDA|VA) 1 $175,000 $175,000 $3,502 3.75%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,734 2.63%
    Chillicothe, OH (FHA|USDA|VA) 1 $175,000 $175,000 $5,611 2.50%
    CHARLESTON, WV (FHA|USDA|VA) 1 $165,000 $165,000 $3,141 3.38%
    Orangeburg, SC (FHA|USDA|VA) 1 $165,000 $165,000 $4,060 3.63%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $145,000 $145,000 $3,883 2.63%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $135,000 $135,000 $6,138 2.50%
    Marion, OH (FHA|USDA|VA) 1 $135,000 $135,000 $3,879 2.50%
    STATE COLLEGE, PA (FHA|USDA|VA) 1 $105,000 $105,000 $4,980 3.88%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $85,000 $85,000 $2,855 2.75%
    Newberry, SC (FHA|USDA|VA) 1 $85,000 $85,000 $2,837 3.75%
    Developer's Mortgage Company's top markets include Philadelphia, New York, Columbus, Cincinnati, and Orlando among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • 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.

    Belmont Savings Bank
    Similarity Rank: 102
    OHIO VALLEY COMMUNITY FEDERAL CREDIT UNION
    Similarity Rank: 108
    The First National Bank of Long Island
    Similarity Rank: 134
    Commodore Bank
    Similarity Rank: 153
    First Commonwealth Federal Credit Union
    Similarity Rank: 210
    M. S. Flynn, Inc.
    Similarity Rank: 236
    North Jersey Federal Credit Union
    Similarity Rank: 247
    TRI BORO
    Similarity Rank: 264
    The North Side Bank & Trust Company
    Similarity Rank: 350
    BELLCO
    Similarity Rank: 354

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 565 $156,895,000 $277,690 $4,241 3.19%
    FHA 138 $32,210,000 $233,406 $7,023 3.13%
    VA 27 $8,655,000 $320,556 $5,790 3.01%
    USDA 7 $1,135,000 $162,143 $3,675 3.04%
    HELOC 1 $295,000 $295,000 n/a 3.38%

    For 2020, Developer's Mortgage Company's most frequently originated type of loan was Conventional, with 565 originations. Their 2nd most popular type was FHA, with 138 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 441 $116,865,000 $265,000 $4,676 3.28%
    Refi 273 $75,205,000 $275,476 $4,890 2.99%
    Cash Out Refi 22 $6,200,000 $281,818 $6,068 3.28%
    Home Improvement 2 $920,000 $460,000 $10,943 3.63%

    For 2020, Developer's Mortgage Company's most frequently cited loan purpose was Home Purchase, with 441 originations. The 2nd most popular reason was Refi, with 273 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 624 $167,700,000 $268,750 $4,913 3.25%
    15 Year 73 $18,695,000 $256,096 $4,220 2.66%
    20 Year 31 $9,315,000 $300,484 $4,484 2.98%
    Other 9 $3,305,000 $367,222 $4,012 3.01%
    10 Year 1 $175,000 $175,000 $2,573 2.50%

    For 2020, Developer's Mortgage Company's most frequently cited loan duration was 30 Year, with 624 originations. The 2nd most popular length was 15 Year, with 73 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 528 $143,380,000 $271,553
    $1k-2k 111 $26,405,000 $237,883
    $2k-3k 41 $11,285,000 $275,244
    $3k-4k 19 $4,845,000 $255,000
    $5k+ 16 $7,240,000 $452,500
    $4k-5k 15 $4,455,000 $297,000

    Developer's Mortgage Company's average total fees were $4,913, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 528 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 294 $77,320,000 $262,993
    2.5-3% 279 $79,225,000 $283,961
    <2.5% 110 $29,550,000 $268,636
    4-5% 36 $6,880,000 $191,111
    6-7% 10 $3,060,000 $306,000
    5-6% 5 $2,305,000 $461,000
    7-8% 2 $630,000 $315,000
    Over 8% 2 $220,000 $110,000

    During 2020, Developer's Mortgage Company's average interest rate for loans was 3.25%, while their most frequently originated rate bucket for loans was 3-4%, with 294 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 387 $112,645,000 $291,072 $5,206 3.08%
    $100k-200k 215 $33,665,000 $156,581 $3,942 3.29%
    $400k-600k 92 $42,830,000 $465,543 $5,496 3.05%
    $100,000 or less 35 $2,445,000 $69,857 $2,914 3.58%
    $600k-1MM 7 $5,155,000 $736,429 $6,383 4.05%
    $1MM+ 2 $2,450,000 $1,225,000 $19,176 4.25%

    2020 saw Developer's Mortgage Company place emphasis on $200k-400k loans with 387 originations, totaling $112,645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 161 $34,415,000 $213,758 $4,617 3.16%
    $100k-150k 155 $45,275,000 $292,097 $5,131 3.10%
    $150k-250k 151 $48,695,000 $322,483 $4,606 3.13%
    $75k-100k 130 $34,400,000 $264,615 $5,151 3.12%
    $50k or less 89 $13,345,000 $149,944 $4,168 3.44%
    $250k+ 51 $22,815,000 $447,353 $5,316 3.23%

    Developer's Mortgage Company lent most frequently to those with incomes in the $50k-75k range, with 161 originations. The second most popular income band? $100k-150k, with 155 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 146 $39,730,000 $272,123 $4,484 3.08%
    30-36% 138 $36,250,000 $262,681 $4,390 3.30%
    <20% 54 $13,750,000 $254,630 $3,847 2.87%
    37% 38 $10,390,000 $273,421 $4,012 3.34%
    50-60% 36 $9,590,000 $266,389 $6,741 3.33%
    49% 32 $7,590,000 $237,188 $5,451 3.20%
    40% 32 $10,120,000 $316,250 $4,722 3.54%
    42% 30 $8,120,000 $270,667 $5,536 3.25%
    44% 30 $7,130,000 $237,667 $4,827 3.35%
    41% 26 $7,040,000 $270,769 $4,528 2.89%
    43% 25 $7,125,000 $285,000 $5,678 3.07%
    47% 24 $7,580,000 $315,833 $6,604 3.13%
    48% 24 $6,550,000 $272,917 $5,252 3.11%
    45% 22 $7,020,000 $319,091 $5,180 2.97%
    39% 21 $5,405,000 $257,381 $4,793 3.07%
    46% 21 $5,315,000 $253,095 $5,288 3.01%
    38% 19 $5,215,000 $274,474 $4,875 3.22%
    36% 17 $4,235,000 $249,118 $4,357 3.07%
    >60% 2 $500,000 $250,000 $1,551 4.81%
    Exempt% 1 $535,000 $535,000 $12,675 3.38%

    Developer's Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 146 originations. The next most common DTI ratio? 30-36%, with 138 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 587 $158,205,000 $269,514 $4,798 3.18%
    Asian 60 $17,070,000 $284,500 $4,141 3.13%
    Black 62 $16,100,000 $259,677 $5,708 3.22%
    Not provided 19 $5,015,000 $263,947 $4,722 3.03%
    Asian Indian 3 $855,000 $285,000 $4,730 3.04%
    Other Asian 1 $475,000 $475,000 $3,117 3.38%
    Korean 1 $465,000 $465,000 $5,037 3.50%
    Chinese 1 $305,000 $305,000 $6,899 2.63%
    Filipino 1 $265,000 $265,000 $3,426 3.25%
    Not applicable 1 $175,000 $175,000 $2,573 2.50%
    Native Hawaiian or Islander 1 $165,000 $165,000 $4,933 2.63%
    Vietnamese 1 $95,000 $95,000 $4,015 4.00%

    Approval Rates

    Total approvals of all applications
    93.15%

    Developer's Mortgage Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.66%

    Developer's Mortgage Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 738 $199,190,000 $269,905

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $165,000 $165,000
    Single Family (1-4 Units):Site-Built 737 $199,025,000 $270,047

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $2,345,000 $213,182 $5,547 3.05%
    40-60% 86 $22,420,000 $260,698 $3,868 3.02%
    60-80% 260 $73,720,000 $283,538 $4,321 3.26%
    80-100% 373 $99,115,000 $265,724 $5,302 3.14%
    Over 100% 5 $1,575,000 $315,000 $11,427 3.00%
    Under 20% 3 $15,000 $5,000 $0 4.88%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Developers Mortgage Co. Conventional home mortgage Closing on a mortgage 1 100.0%