Prince George's Community Mortgage Rates, Fees & Info
Bowie, MDLEI: 5493006R3KP9HJOA7613
Tax ID: 52-6083018
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Mortgage Data
Review & Overview
Prince George's Community is a smaller mortgage company specializing in Home Improvement and Other loans. Prince George's Community has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Salisbury, Philadelphia, and Myrtle Beach among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Prince George's Community has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Refi | 8.50% | 11/22/24 |
| 15 Year Cash-out Refi | 8.50% | 11/22/24 |
| 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. | ||
Prince George's Community Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
60Origination Dollar Volume (All Markets)
$3,560,000Top 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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 45 | $2,565,000 | $57,000 | $0 | 6.39% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 9 | $495,000 | $55,000 | $0 | 5.64% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 4.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 6.00% |
| Outside of Metro Areas | 1 | $65,000 | $65,000 | $0 | 5.75% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.25% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 6.50% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 7.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 31 | $1,765,000 | $56,935 | $0 | 7.04% |
| HELOC | 29 | $1,795,000 | $61,897 | n/a | 5.32% |
For 2018, Prince George's Community's most frequently originated type of loan was Conventional, with 31 originations. Their 2nd most popular type was HELOC, with 29 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 33 | $2,025,000 | $61,364 | $0 | 6.06% |
| Other | 21 | $1,145,000 | $54,524 | $0 | 6.32% |
| Refi | 6 | $390,000 | $65,000 | $0 | 6.67% |
For 2018, Prince George's Community's most frequently cited loan purpose was Home Improvement, with 33 originations. The 2nd most popular reason was Other, with 21 originations.
Loan Duration/Length
For 2018, Prince George's Community's most frequently cited loan duration was Other, with 31 originations. The 2nd most popular length was 15 Year, with 14 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 13 | $795,000 | $61,154 |
Prince George's Community's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 13 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 17 | $865,000 | $50,882 |
| 3-4% | 10 | $790,000 | $79,000 |
| 4-5% | 10 | $590,000 | $59,000 |
| 5-6% | 10 | $690,000 | $69,000 |
| 7-8% | 7 | $345,000 | $49,286 |
| Over 8% | 6 | $280,000 | $46,667 |
During 2018, Prince George's Community's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 17 originations.
Loan Sizing
2018 saw Prince George's Community place emphasis on $100,000 or less loans with 52 originations, totaling $2,480,000 in origination value.
Applicant Income
Prince George's Community lent most frequently to those with incomes in the $100k-150k range, with 17 originations. The second most popular income band? $75k-100k, with 15 originations.
Applicant Debt to Income Ratio
Prince George's Community lent most frequently to those with DTI ratios of 30-36%, with 14 originations. The next most common DTI ratio? 20-30%, with 9 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.84%
Prince George's Community has an average approval rate.
Pick Rate
Approvals leading to origination90.00%
Prince George's Community has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 60 | $3,560,000 | $59,333 |