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 loans. Achieve Financial has a high proportion of conventional loans. Their top markets by origination volume include: Hartford, New Haven, Torrington, and Norwich 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 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 |
|---|---|---|
| 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
72Origination Dollar Volume (All Markets)
$6,360,000Top 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) | 53 | $4,725,000 | $89,151 | $191 | 3.21% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 17 | $1,235,000 | $72,647 | $41 | 3.49% |
| Torrington, CT (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $1,310 | 3.49% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $350 | 3.24% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 72 | $6,360,000 | $88,333 | $174 | 3.28% |
For 2020, Achieve Financial's most frequently originated type of loan was Conventional, with 72 originations.
Loan Reason
For 2020, Achieve Financial's most frequently cited loan purpose was Refi, with 51 originations. The 2nd most popular reason was Home Improvement, with 11 originations.
Loan Duration/Length
For 2020, Achieve Financial's most frequently cited loan duration was 5 Year, with 24 originations. The 2nd most popular length was 10 Year, with 23 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 72 | $6,360,000 | $88,333 |
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 72 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 43 | $4,315,000 | $100,349 |
| <2.5% | 13 | $715,000 | $55,000 |
| 2.5-3% | 13 | $1,125,000 | $86,538 |
| 4-5% | 3 | $205,000 | $68,333 |
During 2020, Achieve Financial's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 43 originations.
Loan Sizing
2020 saw Achieve Financial place emphasis on $100,000 or less loans with 51 originations, totaling $2,645,000 in origination value.
Applicant Income
Achieve Financial lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $75k-100k, with 16 originations.
Applicant Debt to Income Ratio
Achieve Financial lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? 30-36%, with 12 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 67 | $5,955,000 | $88,881 | $181 | 3.27% |
| Black | 3 | $295,000 | $98,333 | $117 | 3.49% |
| Asian | 2 | $110,000 | $55,000 | $0 | 3.37% |
Approval Rates
Total approvals of all applications71.53%
Achieve Financial has a below average approval rate.
Pick Rate
Approvals leading to origination63.89%
Achieve Financial 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 | 72 | $6,360,000 | $88,333 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 72 | $6,360,000 | $88,333 |