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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.02% | 4/18/24 |
| 30 Year Conventional Refi | 6.87% | 4/18/24 |
| 30 Year Cash-out Refi | 6.88% | 4/18/24 |
| 30 Year FHA Purchase | 7.22% | 4/18/24 |
| 30 Year FHA Refi | 7.30% | 4/18/24 |
| 30 Year VA Purchase | 6.20% | 4/18/24 |
| 30 Year VA Refi | 6.63% | 4/18/24 |
| 30 Year USDA Purchase | 6.59% | 4/18/24 |
| 15 Year Conventional Purchase | 6.51% | 4/18/24 |
| 15 Year Conventional Refi | 6.33% | 4/18/24 |
| 15 Year Cash-out Refi | 6.33% | 4/18/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
738Origination Dollar Volume (All Markets)
$199,190,000Awards
DEVELOPER'S MORTGAGE COMPANY - 2020
DEVELOPER'S MORTGAGE COMPANY is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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% |
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Product Mix
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
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
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
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
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
2020 saw Developer's Mortgage Company place emphasis on $200k-400k loans with 387 originations, totaling $112,645,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications93.15%
Developer's Mortgage Company has an average approval rate.
Pick Rate
Approvals leading to origination74.66%
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
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Developers Mortgage Co. | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |