Affinity Mortgage Rates, Fees & Info

Basking Ridge, NJ

LEI: 5493004UNRG4PWDF2K60

Tax ID: 13-5562114

4.7 stars - Updated: 6/16/24 - out of 5 stars, based on 32 reviews

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

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Mortgage Data

Review & Overview

Affinity is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Affinity has a high proportion of conventional loans. Their top markets by origination volume include: New York, Allentown, Philadelphia, Bridgeport, and Trenton among others. We have data for 90 markets. (Some data included below & more in-depth data is available with an active subscription.)

Affinity has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Affinity 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.

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
Home Equity Line of Credit (HELOC) 5.91% 6/16/24
30 Year Conventional Purchase 6.35% 6/16/24
30 Year Conventional Refi 6.20% 6/16/24
30 Year Cash-out Refi 6.55% 6/16/24
15 Year Conventional Purchase 6.00% 6/16/24
15 Year Conventional Refi 5.93% 6/16/24
15 Year Cash-out Refi 5.93% 6/16/24
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.

Affinity Mortgage Calculator






Your Estimates

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

This is not an official calculator from Affinity. 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

1,036

Origination Dollar Volume (All Markets)

$204,140,000
Show all (7) awards

Relative Rate

Affinity's average 30 year fixed mortgage rate was 7.89%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 1.41%.

Relative Fees (Closing Costs)

Affinity's average total fees/closing costs for a 30 year fixed rate mortgage were $5,064.

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 $9,089.

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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 724 $138,900,000 $191,851 $5,135 7.93%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 43 $8,625,000 $200,581 $5,275 7.66%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 37 $7,535,000 $203,649 $4,913 7.56%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 19 $6,665,000 $350,789 $5,466 7.86%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 20 $3,510,000 $175,500 $4,290 7.66%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 8 $2,710,000 $338,750 $8,092 7.45%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 16 $2,690,000 $168,125 $4,189 7.88%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 8 $2,280,000 $285,000 $4,063 7.19%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $1,615,000 $538,333 $8,135 7.88%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 8 $1,470,000 $183,750 $4,370 7.83%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $1,375,000 $458,333 $8,822 7.71%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $1,300,000 $650,000 $7,574 6.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 8 $1,190,000 $148,750 $3,793 7.83%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $1,040,000 $520,000 $4,388 5.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 9 $1,025,000 $113,889 $3,049 8.49%
EAST STROUDSBURG, PA (FHA|USDA|VA) 9 $945,000 $105,000 $3,996 7.88%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $935,000 $935,000 $8,040 4.75%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 3 $845,000 $281,667 $4,490 6.42%
Gardnerville Ranchos, NV (FHA|USDA|VA) 1 $845,000 $845,000 $5,129 4.75%
THE VILLAGES, FL (FHA|USDA|VA) 3 $815,000 $271,667 $4,161 7.08%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $780,000 $195,000 $5,536 7.66%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $745,000 $745,000 $14,238 4.50%
SALISBURY, MD-DE (FHA|USDA|VA) 2 $730,000 $365,000 $0 8.63%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $630,000 $315,000 $3,272 6.81%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $620,000 $310,000 $6,165 6.44%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 3 $605,000 $201,667 $3,898 6.63%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $575,000 $575,000 $6,739 7.75%
KINGSTON, NY (FHA|USDA|VA) 1 $575,000 $575,000 $3,371 5.88%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $570,000 $285,000 $2,916 6.56%
MORRISTOWN, TN (FHA|USDA|VA) 1 $565,000 $565,000 $3,606 7.13%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 6 $490,000 $81,667 $0 8.50%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $475,000 $475,000 $2,532 4.50%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 2 $470,000 $235,000 $0 7.63%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $425,000 $425,000 $2,613 4.38%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $405,000 $405,000 $5,851 7.88%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $395,000 $395,000 $0 8.50%
SPRINGFIELD, IL (FHA|USDA|VA) 1 $345,000 $345,000 $2,547 5.88%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 4 $340,000 $85,000 $3,092 8.38%
COLUMBUS, OH (FHA|USDA|VA) 1 $335,000 $335,000 $6,327 6.38%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $315,000 $315,000 $5,131 6.88%
Bradford, PA (FHA|USDA|VA) 1 $315,000 $315,000 $5,436 6.88%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $305,000 $305,000 $0 7.75%
ASHEVILLE, NC (FHA|USDA|VA) 1 $295,000 $295,000 $3,146 5.50%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $295,000 $98,333 $1,598 7.58%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $270,000 $135,000 $4,174 8.06%
DOVER, DE (FHA|USDA|VA) 1 $265,000 $265,000 $7,047 8.00%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $260,000 $130,000 $0 8.50%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 3 $255,000 $85,000 $1,708 7.71%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 5 $255,000 $51,000 $0 8.85%
SPARTANBURG, SC (FHA|USDA|VA) 1 $255,000 $255,000 $2,995 6.63%
YORK-HANOVER, PA (FHA|USDA|VA) 2 $250,000 $125,000 $3,052 6.81%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $245,000 $245,000 $5,004 6.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $220,000 $110,000 $0 8.75%
Madison, IN (FHA|USDA|VA) 1 $215,000 $215,000 $4,212 5.38%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $205,000 $205,000 $0 8.50%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,313 6.50%
Outside of Metro Areas 2 $190,000 $95,000 $2,841 7.19%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $185,000 $185,000 $4,982 5.75%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $180,000 $90,000 $0 8.13%
COLUMBIA, SC (FHA|USDA|VA) 2 $180,000 $90,000 $2,421 6.38%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 2 $180,000 $90,000 $0 8.63%
FORT COLLINS, CO (FHA|USDA|VA) 1 $175,000 $175,000 $2,838 5.75%
RICHMOND, VA (FHA|USDA|VA) 3 $165,000 $55,000 $0 8.17%
MODESTO, CA (FHA|USDA|VA) 1 $155,000 $155,000 $0 8.75%
GLENS FALLS, NY (FHA|USDA|VA) 1 $155,000 $155,000 $2,964 5.75%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $140,000 $70,000 $0 8.88%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 1 $135,000 $135,000 $3,685 6.50%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $125,000 $125,000 $3,703 5.63%
Keene, NH (FHA|USDA|VA) 1 $125,000 $125,000 $0 8.75%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $120,000 $60,000 $0 8.25%
Georgetown, SC (FHA|USDA|VA) 1 $105,000 $105,000 $3,365 7.75%
Elko, NV (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.75%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $95,000 $95,000 $0 7.50%
READING, PA (FHA|USDA|VA) 2 $90,000 $45,000 $0 9.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $85,000 $85,000 $0 8.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $75,000 $75,000 $0 9.25%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.75%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.75%
OCALA, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.50%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.75%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.25%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.75%
Mason City, IA (FHA|USDA|VA) 1 $35,000 $35,000 $0 7.00%
JACKSON, MS (FHA|USDA|VA) 1 $35,000 $35,000 $0 9.00%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $35,000 $35,000 $0 8.50%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $35,000 $35,000 $0 9.00%
KNOXVILLE, TN (FHA|USDA|VA) 1 $25,000 $25,000 $0 8.75%
TUCSON, AZ (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.50%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $25,000 $25,000 $0 9.00%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $15,000 $15,000 $0 9.00%
Affinity's top markets include New York, Allentown, Philadelphia, Bridgeport, and Trenton among others.

Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against AFFINITY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Walden Savings Bank
    Similarity Rank: 15
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    The Torrington Savings Bank
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    SIKORSKY FINANCIAL
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    Thomaston Savings Bank
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    N C P D Federal Credit Union
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    The Milford Bank
    Similarity Rank: 132
    County Savings Bank
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    MID-HUDSON VALLEY
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 767 $88,825,000 $115,808 n/a 8.45%
    Conventional 269 $115,315,000 $428,680 $4,973 6.13%

    For 2023, Affinity's most frequently originated type of loan was HELOC, with 767 originations. Their 2nd most popular type was Conventional, with 269 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 381 $60,015,000 $157,520 $3,525 8.16%
    Home Improvement 251 $27,115,000 $108,028 $0 8.43%
    Home Purchase 245 $102,265,000 $417,408 $5,276 6.36%
    Other 152 $12,970,000 $85,329 $0 8.50%
    Refi 7 $1,775,000 $253,571 $2,785 7.16%

    For 2023, Affinity's most frequently cited loan purpose was Cash Out Refi, with 381 originations. The 2nd most popular reason was Home Improvement, with 251 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 999 $185,705,000 $185,891 $5,064 7.89%
    15 Year 28 $15,260,000 $545,000 $4,155 6.31%
    20 Year 5 $1,535,000 $307,000 $3,637 7.28%
    10 Year 4 $1,640,000 $410,000 $3,410 6.44%

    For 2023, Affinity's most frequently cited loan duration was 30 Year, with 999 originations. The 2nd most popular length was 15 Year, with 28 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 201 $78,285,000 $389,478
    $2k-3k 15 $6,555,000 $437,000
    $1k-2k 14 $3,820,000 $272,857
    $3k-4k 10 $4,270,000 $427,000
    $5k+ 9 $7,965,000 $885,000
    $4k-5k 3 $1,065,000 $355,000

    Affinity's average total fees were $5,064, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 201 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 558 $64,570,000 $115,717
    7-8% 266 $45,940,000 $172,707
    5-6% 93 $40,295,000 $433,280
    6-7% 75 $26,245,000 $349,933
    4-5% 40 $24,270,000 $606,750
    3-4% 3 $2,445,000 $815,000
    2.5-3% 1 $375,000 $375,000

    During 2023, Affinity's average interest rate for loans was 7.89%, while their most frequently originated rate bucket for loans was Over 8%, with 558 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 430 $23,980,000 $55,767 $2,647 8.45%
    $100k-200k 266 $35,340,000 $132,857 $3,656 8.12%
    $200k-400k 218 $62,820,000 $288,165 $4,287 7.38%
    $400k-600k 74 $35,190,000 $475,541 $5,141 6.08%
    $600k-1MM 33 $25,035,000 $758,636 $7,224 5.59%
    $1MM+ 15 $21,775,000 $1,451,667 $11,733 5.84%

    2023 saw Affinity place emphasis on $100,000 or less loans with 430 originations, totaling $23,980,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 310 $66,400,000 $214,194 $5,347 7.79%
    $100k-150k 277 $40,365,000 $145,722 $4,450 7.97%
    $250k+ 173 $55,305,000 $319,682 $6,655 7.74%
    $75k-100k 114 $13,230,000 $116,053 $3,856 8.06%
    $50k-75k 84 $8,710,000 $103,690 $3,838 7.87%
    $50k or less 56 $6,950,000 $124,107 $3,731 7.77%

    Affinity lent most frequently to those with incomes in the $150k-250k range, with 310 originations. The second most popular income band? $100k-150k, with 277 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 192 $41,400,000 $215,625 $4,991 7.73%
    30-36% 174 $31,740,000 $182,414 $4,760 7.77%
    44% 72 $9,350,000 $129,861 $4,621 8.29%
    <20% 60 $8,790,000 $146,500 $4,186 7.79%
    43% 57 $8,305,000 $145,702 $5,403 8.00%
    42% 52 $8,760,000 $168,462 $4,966 8.37%
    39% 49 $9,425,000 $192,347 $5,365 8.07%
    47% 43 $6,735,000 $156,628 $5,066 8.04%
    40% 41 $6,125,000 $149,390 $5,012 8.20%
    41% 40 $5,780,000 $144,500 $5,152 8.05%
    38% 40 $7,200,000 $180,000 $6,394 7.92%
    37% 37 $6,315,000 $170,676 $4,719 8.07%
    36% 34 $6,740,000 $198,235 $4,976 8.09%
    46% 33 $7,455,000 $225,909 $5,634 7.94%
    49% 23 $4,715,000 $205,000 $5,121 7.60%
    45% 22 $5,890,000 $267,727 $4,858 7.03%
    48% 18 $5,500,000 $305,556 $4,910 7.42%
    50-60% 16 $7,440,000 $465,000 $6,120 5.77%
    >60% 10 $2,430,000 $243,000 $2,868 7.05%

    Affinity lent most frequently to those with DTI ratios of 20-30%, with 192 originations. The next most common DTI ratio? 30-36%, with 174 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 645 $107,665,000 $166,922 $4,626 8.01%
    Not provided 135 $33,935,000 $251,370 $5,391 7.55%
    Asian 96 $25,800,000 $268,750 $5,357 7.14%
    Black 138 $23,170,000 $167,899 $5,065 8.03%
    Not applicable 16 $12,350,000 $771,875 $0 6.37%
    American Indian 5 $905,000 $181,000 $8,449 7.85%
    Native Hawaiian or Islander 1 $315,000 $315,000 $5,131 6.88%

    Approval Rates

    Total approvals of all applications
    64.66%

    Affinity has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    63.22%

    Affinity 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 1,036 $204,140,000 $197,046

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,036 $204,140,000 $197,046

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 222 $37,970,000 $171,036 $3,574 8.22%
    40-60% 87 $30,095,000 $345,920 $3,926 7.18%
    60-80% 105 $45,845,000 $436,619 $5,253 6.62%
    80-100% 108 $52,070,000 $482,130 $5,581 5.95%
    Under 20% 514 $38,160,000 $74,241 $3,275 8.44%