Achieve Financial Mortgage Rates, Fees & Info
Berlin, CTLEI: 54930055Z5ZI5MLNR750
Tax ID: 06-0696607
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Mortgage Data
Review & Overview
Achieve Financial is a smaller mortgage company specializing in Refi and Home Improvement loans. Achieve Financial has a high proportion of conventional loans. Their top markets by origination volume include: Hartford, New Haven, and Torrington among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Achieve Financial 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.
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 |
|---|---|---|
| 15 Year Conventional Purchase | 5.68% | 12/4/24 |
| 15 Year Conventional Refi | 5.32% | 12/4/24 |
| 15 Year Cash-out Refi | 5.32% | 12/4/24 |
| 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. | ||
Achieve Financial Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
42Origination Dollar Volume (All Markets)
$2,960,000Top 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 |
|---|---|---|---|---|---|
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 24 | $1,720,000 | $71,667 | $102 | 4.68% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 9 | $845,000 | $93,889 | $72 | 4.60% |
| Outside of Metro Areas | 8 | $370,000 | $46,250 | $0 | 4.46% |
| Torrington, CT (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $350 | 3.99% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 42 | $2,960,000 | $70,476 | $82 | 4.60% |
For 2019, Achieve Financial's most frequently originated type of loan was Conventional, with 42 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 19 | $1,825,000 | $96,053 | $129 | 4.58% |
| Home Improvement | 15 | $765,000 | $51,000 | $67 | 4.71% |
| Other | 8 | $370,000 | $46,250 | $0 | 4.46% |
For 2019, Achieve Financial's most frequently cited loan purpose was Refi, with 19 originations. The 2nd most popular reason was Home Improvement, with 15 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 10 Year | 17 | $1,065,000 | $62,647 | $79 | 4.84% |
| 5 Year | 13 | $565,000 | $43,462 | $135 | 3.80% |
| 15 Year | 12 | $1,330,000 | $110,833 | $29 | 5.14% |
For 2019, Achieve Financial's most frequently cited loan duration was 10 Year, with 17 originations. The 2nd most popular length was 5 Year, with 13 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 42 | $2,960,000 | $70,476 |
Achieve Financial's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 42 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 21 | $1,645,000 | $78,333 |
| 3-4% | 13 | $565,000 | $43,462 |
| 5-6% | 8 | $750,000 | $93,750 |
During 2019, Achieve Financial's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 21 originations.
Loan Sizing
2019 saw Achieve Financial place emphasis on $100,000 or less loans with 31 originations, totaling $1,475,000 in origination value.
Applicant Income
Achieve Financial lent most frequently to those with incomes in the $100k-150k range, with 14 originations. The second most popular income band? $50k-75k, with 12 originations.
Applicant Debt to Income Ratio
Achieve Financial lent most frequently to those with DTI ratios of 20-30%, with 13 originations. The next most common DTI ratio? 30-36%, with 8 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 36 | $2,520,000 | $70,000 | $76 | 4.61% |
| Black | 5 | $315,000 | $63,000 | $140 | 4.59% |
| Not provided | 1 | $125,000 | $125,000 | $0 | 4.49% |
Approval Rates
Total approvals of all applications53.13%
Achieve Financial has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination78.57%
Achieve Financial has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 42 | $2,960,000 | $70,476 |