Police & Fire Mortgage Rates, Fees & Info

Philadelphia, PA

LEI: 54930063XGNMIXS57091

Tax ID: 23-1343988

5 stars - Updated: 6/17/24 - out of 5 stars, based on 81 reviews

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

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Mortgage Data

Review & Overview

Police & Fire is a smaller mortgage company specializing in Cash Out Refi and Home Improvement loans. Police & Fire has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, New York, Ocean City, Atlantic City, and Allentown among others. We have data for 41 markets. (Some data included below & more in-depth data is available with an active subscription.)

Police & Fire 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. Police & Fire is typically a low 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) 6.27% 6/17/24
30 Year Conventional Purchase 6.55% 6/17/24
30 Year Conventional Refi 6.35% 6/17/24
30 Year Cash-out Refi 6.45% 6/17/24
15 Year Conventional Purchase 5.69% 6/17/24
15 Year Conventional Refi 5.89% 6/17/24
15 Year Cash-out Refi 5.89% 6/17/24
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.

Police & Fire Mortgage Calculator






Your Estimates

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

This is not an official calculator from Police & Fire. 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

6,502

Origination Dollar Volume (All Markets)

$566,640,000

Awards

POLICE & FIRE 30 Year Conventional Loans gold POLICE & FIRE 30 Year Conventional Loans gold POLICE & FIRE 30 Year Conventional Loans bronze POLICE & FIRE 30 Year Conventional Loans silver
Show all (4) awards

Relative Rate

Police & Fire's average 30 year fixed mortgage rate was 6.42%.

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

This yields a difference of -0.06%.

Relative Fees (Closing Costs)

Police & Fire's average total fees/closing costs for a 30 year fixed rate mortgage were $3,121.

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
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 5,861 $498,935,000 $85,128 $206 6.69%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 129 $14,775,000 $114,535 $303 6.74%
OCEAN CITY, NJ (FHA|USDA|VA) 102 $13,070,000 $128,137 $561 6.31%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 96 $9,640,000 $100,417 $384 6.53%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 57 $5,685,000 $99,737 $552 6.66%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 36 $4,280,000 $118,889 $368 6.49%
READING, PA (FHA|USDA|VA) 30 $3,360,000 $112,000 $781 6.37%
DOVER, DE (FHA|USDA|VA) 21 $1,715,000 $81,667 $285 6.65%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 30 $1,680,000 $56,000 $93 6.64%
LANCASTER, PA (FHA|USDA|VA) 18 $1,450,000 $80,556 $339 6.53%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 12 $1,280,000 $106,667 $207 6.38%
SALISBURY, MD-DE (FHA|USDA|VA) 13 $1,275,000 $98,077 $379 6.28%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 9 $1,095,000 $121,667 $1,529 6.23%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 9 $1,045,000 $116,111 $1,004 6.59%
JACKSONVILLE, FL (FHA|USDA|VA) 4 $1,010,000 $252,500 $2,482 6.28%
EAST STROUDSBURG, PA (FHA|USDA|VA) 12 $790,000 $65,833 $358 6.54%
Pottsville, PA (FHA|USDA|VA) 4 $730,000 $182,500 $5,584 7.09%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 8 $720,000 $90,000 $0 6.62%
PORT ST. LUCIE, FL (FHA|USDA|VA) 4 $460,000 $115,000 $0 6.68%
LEBANON, PA (FHA|USDA|VA) 7 $325,000 $46,429 $0 6.81%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $290,000 $145,000 $0 5.74%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $290,000 $145,000 $0 7.37%
THE VILLAGES, FL (FHA|USDA|VA) 2 $270,000 $135,000 $0 6.62%
PANAMA CITY, FL (FHA|USDA|VA) 1 $265,000 $265,000 $4,920 6.75%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $250,000 $125,000 $1,728 5.62%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 5 $245,000 $49,000 $0 6.09%
YORK-HANOVER, PA (FHA|USDA|VA) 6 $240,000 $40,000 $0 7.04%
Selinsgrove, PA (FHA|USDA|VA) 1 $215,000 $215,000 $3,371 6.38%
Outside of Metro Areas 4 $210,000 $52,500 $0 6.87%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 5.99%
STATE COLLEGE, PA (FHA|USDA|VA) 2 $180,000 $90,000 $0 6.74%
GETTYSBURG, PA (FHA|USDA|VA) 2 $160,000 $80,000 $498 6.06%
Sunbury, PA (FHA|USDA|VA) 1 $115,000 $115,000 $0 6.74%
PITTSBURGH, PA (FHA|USDA|VA) 2 $80,000 $40,000 $0 7.37%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $75,000 $75,000 $0 7.50%
OCALA, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.99%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $45,000 $45,000 $0 7.00%
WILLIAMSPORT, PA (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.49%
Sayre, PA (FHA|USDA|VA) 1 $35,000 $35,000 $0 7.75%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $35,000 $35,000 $0 7.75%
DuBois, PA (FHA|USDA|VA) 1 $25,000 $25,000 $0 6.24%
Police & Fire's top markets include Philadelphia, New York, Ocean City, Atlantic City, and Allentown among others.

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

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

    Republic Bank
    Similarity Rank: 35
    N C P D Federal Credit Union
    Similarity Rank: 126
    County Savings Bank
    Similarity Rank: 135
    GREATER ALLIANCE
    Similarity Rank: 168
    Blue Foundry Bank
    Similarity Rank: 188
    PCSB Bank
    Similarity Rank: 207
    LYONS MORTGAGE SERVICES, INC.
    Similarity Rank: 267
    Columbia Bank
    Similarity Rank: 312

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 4,641 $381,335,000 $82,167 $233 6.40%
    HELOC 1,861 $185,305,000 $99,573 n/a 7.37%

    For 2023, Police & Fire's most frequently originated type of loan was Conventional, with 4,641 originations. Their 2nd most popular type was HELOC, with 1,861 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 4,076 $335,350,000 $82,274 $28 6.67%
    Home Improvement 2,140 $154,130,000 $72,023 $0 6.72%
    Home Purchase 234 $67,850,000 $289,957 $4,004 6.53%
    Refi 52 $9,310,000 $179,038 $1,323 6.18%

    For 2023, Police & Fire's most frequently cited loan purpose was Cash Out Refi, with 4,076 originations. The 2nd most popular reason was Home Improvement, with 2,140 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 2,451 $243,605,000 $99,390 $39 7.21%
    15 Year 1,931 $145,665,000 $75,435 $36 6.53%
    10 Year 1,425 $77,705,000 $54,530 $5 6.12%
    5 Year 357 $12,985,000 $36,373 $0 6.23%
    30 Year 316 $85,630,000 $270,981 $3,121 6.42%
    Other 20 $1,000,000 $50,000 $0 6.30%
    3 Year 2 $50,000 $25,000 $0 6.37%

    For 2023, Police & Fire's most frequently cited loan duration was 20 Year, with 2,451 originations. The 2nd most popular length was 15 Year, with 1,931 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 4,542 $364,380,000 $80,225
    $1k-2k 30 $7,340,000 $244,667
    $2k-3k 11 $3,095,000 $281,364
    $4k-5k 3 $1,255,000 $418,333
    $3k-4k 1 $445,000 $445,000
    $5k+ 1 $485,000 $485,000

    Police & Fire's average total fees were $3,121, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 4,542 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 2,721 $227,955,000 $83,776
    5-6% 1,870 $160,360,000 $85,754
    7-8% 1,765 $169,205,000 $95,867
    Over 8% 142 $7,930,000 $55,845
    4-5% 4 $1,190,000 $297,500

    During 2023, Police & Fire's average interest rate for loans was 6.42%, while their most frequently originated rate bucket for loans was 6-7%, with 2,721 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 4,716 $236,000,000 $50,042 $10 6.65%
    $100k-200k 1,220 $160,710,000 $131,730 $285 6.73%
    $200k-400k 476 $126,490,000 $265,735 $1,984 6.75%
    $400k-600k 84 $39,770,000 $473,452 $4,590 6.69%
    $600k-1MM 6 $3,670,000 $611,667 $5,397 6.69%

    2023 saw Police & Fire place emphasis on $100,000 or less loans with 4,716 originations, totaling $236,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,944 $153,240,000 $78,827 $201 6.65%
    $150k-250k 1,891 $188,785,000 $99,833 $224 6.70%
    $75k-100k 1,072 $76,170,000 $71,054 $303 6.69%
    $50k-75k 738 $45,640,000 $61,843 $214 6.65%
    $250k+ 582 $89,160,000 $153,196 $319 6.72%
    $50k or less 274 $13,400,000 $48,905 $145 6.56%

    Police & Fire lent most frequently to those with incomes in the $100k-150k range, with 1,944 originations. The second most popular income band? $150k-250k, with 1,891 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,639 $137,745,000 $84,042 $211 6.66%
    30-36% 1,488 $123,190,000 $82,789 $193 6.66%
    42% 602 $50,720,000 $84,252 $103 6.73%
    <20% 558 $42,010,000 $75,287 $126 6.56%
    39% 350 $32,130,000 $91,800 $179 6.73%
    41% 326 $29,000,000 $88,957 $118 6.69%
    40% 318 $27,630,000 $86,887 $183 6.70%
    37% 312 $26,530,000 $85,032 $181 6.73%
    38% 309 $23,585,000 $76,327 $89 6.69%
    36% 299 $26,405,000 $88,311 $300 6.65%
    43% 78 $11,320,000 $145,128 $1,336 6.93%
    44% 44 $6,270,000 $142,500 $1,445 7.00%
    47% 38 $7,040,000 $185,263 $2,381 6.63%
    45% 38 $6,370,000 $167,632 $1,537 6.71%
    46% 31 $4,565,000 $147,258 $1,741 6.63%
    49% 24 $4,760,000 $198,333 $2,475 6.75%
    50-60% 21 $2,325,000 $110,714 $575 6.58%
    48% 19 $3,665,000 $192,895 $2,069 6.34%
    >60% 2 $210,000 $105,000 $0 6.12%

    Police & Fire lent most frequently to those with DTI ratios of 20-30%, with 1,639 originations. The next most common DTI ratio? 30-36%, with 1,488 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,403 $392,535,000 $89,152 $242 6.65%
    Not provided 1,224 $108,650,000 $88,766 $264 6.75%
    Black 727 $48,535,000 $66,761 $120 6.71%
    Asian 113 $13,945,000 $123,407 $397 6.72%
    American Indian 23 $2,145,000 $93,261 $274 6.76%
    Native Hawaiian or Islander 9 $555,000 $61,667 $0 7.05%
    Other Asian 1 $125,000 $125,000 $0 6.49%
    Asian Indian 1 $105,000 $105,000 $0 7.75%
    Other Pacific Islander 1 $45,000 $45,000 $0 7.99%

    Approval Rates

    Total approvals of all applications
    66.54%

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

    Pick Rate

    Approvals leading to origination
    82.37%

    Police & Fire has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 6,502 $566,640,000 $87,149

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    6,502 $566,640,000 $87,149

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,772 $188,100,000 $106,151 $72 6.73%
    40-60% 374 $66,860,000 $178,770 $630 6.67%
    60-80% 287 $74,275,000 $258,798 $1,971 6.68%
    80-100% 128 $39,300,000 $307,031 $3,858 6.59%
    Under 20% 3,941 $198,105,000 $50,268 $3 6.66%