Apl Mortgage Rates, Fees & Info
Laurel, MDLEI: 54930040I855W2FI0Y80
Tax ID: 52-0651037
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Mortgage Data
Review & Overview
Apl is a smaller mortgage company specializing in Home Improvement and Other loans. Apl has an average proportion of conventional loans. Their top markets by origination volume include: Baltimore, Washington, York, Salisbury, and California among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Apl has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.86% | 11/17/24 |
| 15 Year Conventional Refi | 7.10% | 11/17/24 |
| 15 Year Cash-out Refi | 7.10% | 11/17/24 |
| 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. | ||
Apl Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
311Origination Dollar Volume (All Markets)
$26,325,000Top 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 |
|---|---|---|---|---|---|
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 263 | $21,825,000 | $82,985 | $232 | 7.93% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 39 | $3,995,000 | $102,436 | $308 | 8.05% |
| Outside of Metro Areas | 2 | $180,000 | $90,000 | $110 | 7.75% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 4 | $160,000 | $40,000 | $224 | 7.62% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $195 | 6.75% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $195 | 6.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against APL 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 219 | $20,335,000 | $92,854 | n/a | 8.16% |
| Conventional | 92 | $5,990,000 | $65,109 | $235 | 7.38% |
For 2023, Apl's most frequently originated type of loan was HELOC, with 219 originations. Their 2nd most popular type was Conventional, with 92 originations.
Loan Reason
For 2023, Apl's most frequently cited loan purpose was Home Improvement, with 152 originations. The 2nd most popular reason was Other, with 101 originations.
Loan Duration/Length
For 2023, Apl's most frequently cited loan duration was 30+ year, with 219 originations. The 2nd most popular length was 15 Year, with 31 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 92 | $5,990,000 | $65,109 |
Apl's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 92 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 137 | $13,645,000 | $99,599 |
| 7-8% | 134 | $10,690,000 | $79,776 |
| 6-7% | 32 | $1,570,000 | $49,063 |
| 5-6% | 8 | $420,000 | $52,500 |
During 2023, Apl's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 137 originations.
Loan Sizing
2023 saw Apl place emphasis on $100,000 or less loans with 195 originations, totaling $9,635,000 in origination value.
Applicant Income
Apl lent most frequently to those with incomes in the $150k-250k range, with 114 originations. The second most popular income band? $100k-150k, with 79 originations.
Applicant Debt to Income Ratio
Apl lent most frequently to those with DTI ratios of 20-30%, with 59 originations. The next most common DTI ratio? 30-36%, with 50 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.36%
Apl has an average approval rate.
Pick Rate
Approvals leading to origination83.92%
Apl has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 311 | $26,325,000 | $84,646 |