Police & Fire Mortgage Rates, Fees & Info

Philadelphia, PA

LEI: 54930063XGNMIXS57091

Tax ID: 23-1343988

5 stars - out of 5 stars, based on 104 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Police & Fire is a small mortgage company specializing in Cash Out Refi and Refi loans. Police & Fire has a high proportion of conventional loans. Their top markets include Philadelphia, Ocean City, Atlantic City, New York, and Allentown among others. Police & Fire has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Police & Fire is typically a low fee lendor.


Originations

10,773

Origination Dollar Volume (All Markets)

$1,749,495,000
Show all (5) awards

Relative Rate

Police & Fire's average 30 year fixed rate mortgage of loans were 3.01%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.14%.

Relative Fees

Police & Fire's average total fees for a 30 year fixed rate mortgage are $2,439.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 9,632 $1,532,500,000 $159,105 $496 3.17%
OCEAN CITY, NJ (FHA|USDA|VA) 286 $67,210,000 $235,000 $814 2.93%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 192 $34,950,000 $182,031 $366 2.95%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 166 $32,780,000 $197,470 $464 3.23%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 94 $15,570,000 $165,638 $584 2.97%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 43 $7,375,000 $171,512 $438 3.17%
READING, PA (FHA|USDA|VA) 46 $7,120,000 $154,783 $575 3.33%
LANCASTER, PA (FHA|USDA|VA) 34 $5,590,000 $164,412 $621 2.95%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 36 $4,700,000 $130,556 $251 3.27%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 12 $4,350,000 $362,500 $1,689 2.75%
EAST STROUDSBURG, PA (FHA|USDA|VA) 28 $4,160,000 $148,571 $1,203 3.13%
DOVER, DE (FHA|USDA|VA) 29 $4,035,000 $139,138 $866 3.57%
SALISBURY, MD-DE (FHA|USDA|VA) 19 $3,425,000 $180,263 $1,019 2.87%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 21 $3,135,000 $149,286 $218 3.10%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 12 $2,550,000 $212,500 $1,321 2.95%
JACKSONVILLE, FL (FHA|USDA|VA) 10 $2,250,000 $225,000 $918 2.75%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 17 $2,085,000 $122,647 $741 3.17%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 11 $1,875,000 $170,455 $632 3.15%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 7 $1,615,000 $230,714 $1,447 2.91%
YORK-HANOVER, PA (FHA|USDA|VA) 5 $1,525,000 $305,000 $1,377 2.87%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 9 $1,265,000 $140,556 $355 3.12%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 4 $1,120,000 $280,000 $1,910 3.06%
Outside of Metro Areas 10 $1,110,000 $111,000 $461 3.25%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 8 $1,090,000 $136,250 $488 3.22%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 4 $830,000 $207,500 $2,155 2.90%
PORT ST. LUCIE, FL (FHA|USDA|VA) 4 $740,000 $185,000 $1,673 2.94%
PITTSBURGH, PA (FHA|USDA|VA) 6 $720,000 $120,000 $0 3.60%
STATE COLLEGE, PA (FHA|USDA|VA) 2 $610,000 $305,000 $0 2.88%
LEBANON, PA (FHA|USDA|VA) 4 $580,000 $145,000 $883 3.06%
Key West, FL (FHA|USDA|VA) 1 $415,000 $415,000 $0 2.75%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $370,000 $185,000 $1,361 3.00%
PUNTA GORDA, FL (FHA|USDA|VA) 2 $280,000 $140,000 $38 2.75%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $275,000 $275,000 $0 2.88%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 2.63%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 3 $205,000 $68,333 $0 3.45%
OCALA, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 2.88%
Sayre, PA (FHA|USDA|VA) 1 $155,000 $155,000 $0 2.99%
Pottsville, PA (FHA|USDA|VA) 3 $155,000 $51,667 $1,440 3.99%
THE VILLAGES, FL (FHA|USDA|VA) 2 $120,000 $60,000 $0 2.81%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $115,000 $115,000 $75 2.63%
GETTYSBURG, PA (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.74%
Oil City, PA (FHA|USDA|VA) 1 $55,000 $55,000 $2,205 3.25%
Sunbury, PA (FHA|USDA|VA) 1 $25,000 $25,000 $0 3.99%
JOHNSTOWN, PA (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.99%

Police & Fire's top markets include Philadelphia, Ocean City, Atlantic City, New York, and Allentown among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 10,773 $1,749,495,000 $162,396 $512 3.16%

For the 2021 period, Police & Fire's most frequently originated loan type of loans were Conventional, with 10,773 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 5,559 $921,735,000 $165,809 $384 3.16%
Refi 2,981 $603,165,000 $202,336 $411 2.78%
Home Improvement 1,799 $109,955,000 $61,120 $0 3.82%
Home Purchase 434 $114,640,000 $264,147 $3,795 3.04%

For the 2021, Police & Fire's most frequently cited loan purpose of loans were Cash Out Refi, with 5,559 originations. The 2nd most popular reason of loans were Refi, with 2,981 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
20 Year 4,244 $697,100,000 $164,255 $168 3.03%
15 Year 3,426 $567,640,000 $165,686 $231 3.11%
10 Year 1,448 $122,870,000 $84,855 $153 3.59%
30 Year 1,314 $342,130,000 $260,373 $2,439 3.01%
5 Year 277 $9,965,000 $35,975 $16 4.21%
Other 61 $9,725,000 $159,426 $676 2.94%
3 Year 3 $65,000 $21,667 $0 3.99%

For the 2021, Police & Fire's most frequently cited loan length of loans were 20 Year, with 4,244 originations. The 2nd most popular length of loans were 15 Year, with 3,426 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 9,043 $1,567,045,000 $173,288
$1k-2k 116 $28,290,000 $243,879
$2k-3k 29 $9,055,000 $312,241
$3k-4k 10 $3,110,000 $311,000
$5k+ 4 $1,220,000 $305,000

$2,439 of loans were Police & Fire's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 9,043 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 6,171 $1,137,905,000 $184,396
3-4% 2,163 $261,945,000 $121,103
<2.5% 1,413 $295,685,000 $209,260
4-5% 452 $24,050,000 $53,208
5-6% 423 $24,325,000 $57,506
6-7% 151 $5,585,000 $36,987

During 2021, Police & Fire's average interest rate of loans were 3.01%, while their most frequently originated rate bucket of loans were 2.5-3%, with 6,171 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 3,736 $548,100,000 $146,708 $450 2.83%
$100,000 or less 3,503 $171,425,000 $48,937 $64 3.85%
$200k-400k 3,190 $851,780,000 $267,016 $825 2.82%
$400k-600k 290 $133,850,000 $461,552 $1,484 2.84%
$600k-1MM 47 $34,395,000 $731,809 $1,541 2.70%
$1MM+ 7 $9,945,000 $1,420,714 $5,099 2.91%

2021 saw Police & Fire place emphasis on $100k-200k loans with 3,736 originations, totaling $548,100,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 3,154 $527,370,000 $167,207 $468 3.19%
$150k-250k 2,374 $447,190,000 $188,370 $439 3.20%
$75k-100k 2,148 $320,050,000 $148,999 $549 3.14%
$50k-75k 1,833 $234,805,000 $128,099 $557 3.12%
$50k or less 754 $74,280,000 $98,515 $575 3.15%
$250k+ 510 $145,800,000 $285,882 $710 3.03%

Police & Fire lent most frequently to those with incomes in the $100k-150k range, with 3,154 originations. The second most popular income band? $150k-250k, with 2,374 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 3,094 $508,400,000 $164,318 $492 3.07%
30-36% 2,306 $363,940,000 $157,823 $524 3.23%
<20% 1,147 $179,385,000 $156,395 $386 2.94%
42% 524 $71,010,000 $135,515 $391 3.58%
38% 407 $60,855,000 $149,521 $513 3.33%
40% 406 $61,090,000 $150,468 $558 3.50%
36% 405 $60,485,000 $149,346 $451 3.39%
37% 404 $59,810,000 $148,045 $549 3.27%
41% 385 $56,745,000 $147,390 $492 3.42%
39% 370 $52,690,000 $142,405 $446 3.41%
43% 233 $48,095,000 $206,416 $818 2.94%
44% 222 $45,230,000 $203,739 $647 2.86%
45% 202 $40,200,000 $199,010 $543 2.81%
49% 171 $36,035,000 $210,731 $806 2.85%
47% 157 $35,335,000 $225,064 $792 2.83%
46% 156 $30,630,000 $196,346 $681 2.83%
48% 147 $31,405,000 $213,639 $593 2.81%
50-60% 33 $7,055,000 $213,788 $561 2.88%
>60% 3 $755,000 $251,667 $332 2.88%

Police & Fire lent most frequently to those with DTI ratios of 20-30%, with 3,094 originations. The next most common DTI ratio? 30-36%, with 2,306 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 7,206 $1,188,970,000 $164,997 $491 3.17%
Not provided 2,349 $410,995,000 $174,966 $594 2.99%
Black 962 $105,720,000 $109,896 $485 3.45%
Asian 208 $37,450,000 $180,048 $490 3.08%
American Indian 19 $2,185,000 $115,000 $537 3.58%
Asian Indian 8 $2,150,000 $268,750 $922 2.66%
Native Hawaiian 18 $1,610,000 $89,444 $240 4.25%
Chinese 1 $215,000 $215,000 $0 2.38%
Other Asian 1 $165,000 $165,000 $0 2.38%
Other Pacific Islander 1 $35,000 $35,000 $0 4.74%

Approval Rates

Total approvals of all applications
70.46%

Police & Fire has a below average approval rate.

Pick Rate

Approvals leading to origination
79.63%

Police & Fire has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 10,773 $1,749,495,000 $162,396

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
10,773 $1,749,495,000 $162,396

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 1,682 $182,140,000 $108,288 $220 3.30%
40-60% 2,171 $389,525,000 $179,422 $422 2.78%
60-80% 3,686 $872,310,000 $236,655 $621 2.81%
80-100% 702 $191,920,000 $273,390 $1,934 3.05%
Under 20% 2,531 $113,495,000 $44,842 $17 3.93%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Pluese, Becker & Saltzman, LLC Conventional home mortgage Struggling to pay mortgage 1 100.0%