1st Colonial Community Bank Mortgage Rates, Fees & InfoCollingswood, NJ
Tax ID: 22-3719127
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & Overview1st Colonial Community Bank is a smaller bank specializing in Home Purchase loans. 1st Colonial Community Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Philadelphia, New York, Ocean City, Atlantic City, and Baltimore among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)
1st Colonial Community Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. 1st Colonial Community Bank is typically an average 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 about average 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.
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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||6.23%||9/25/23|
|30 Year Conventional Purchase||6.56%||9/25/23|
|30 Year Conventional Refi||6.47%||9/25/23|
|30 Year Cash-out Refi||6.49%||9/25/23|
|30 Year FHA Purchase||7.31%||9/25/23|
|30 Year FHA Refi||7.09%||9/25/23|
|30 Year VA Purchase||6.19%||9/25/23|
|30 Year USDA Purchase||6.75%||9/25/23|
|15 Year Conventional Purchase||6.10%||9/25/23|
|15 Year Conventional Refi||6.17%||9/25/23|
|15 Year Cash-out Refi||6.17%||9/25/23|
|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.|
1st Colonial Community Bank Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from 1st Colonial Community Bank. 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.
Origination Dollar Volume (All Markets)$243,065,000
1st Colonial Community Bank - 2022
1st Colonial Community Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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1st Colonial Community Bank's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.22%.
Relative Fees (Closing Costs)
1st Colonial Community Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $8,058.
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 $4,750.
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)||589||$160,315,000||$272,182||$6,632||4.94%|
|New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA)||62||$28,310,000||$456,613||$7,559||4.70%|
|OCEAN CITY, NJ (FHA|USDA|VA)||49||$24,855,000||$507,245||$8,577||4.74%|
|ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA)||43||$15,245,000||$354,535||$8,941||5.02%|
|BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA)||1||$2,405,000||$2,405,000||$10,103||4.75%|
|TRENTON-PRINCETON, NJ (FHA|USDA|VA)||9||$2,175,000||$241,667||$10,422||5.26%|
|VINELAND-BRIDGETON, NJ (FHA|USDA|VA)||8||$1,760,000||$220,000||$8,146||5.39%|
|ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA)||5||$1,685,000||$337,000||$7,362||5.00%|
|Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA)||1||$975,000||$975,000||$9,062||3.88%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||2||$760,000||$380,000||$5,181||4.88%|
|Pinehurst-Southern Pines, NC (FHA|USDA|VA)||1||$555,000||$555,000||$8,405||4.50%|
|CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA)||1||$545,000||$545,000||$4,101||3.25%|
|READING, PA (FHA|USDA|VA)||1||$545,000||$545,000||$38,721||6.50%|
|PORT ST. LUCIE, FL (FHA|USDA|VA)||1||$495,000||$495,000||$0||3.63%|
|SALISBURY, MD-DE (FHA|USDA|VA)||1||$395,000||$395,000||$0||5.25%|
|ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA)||1||$365,000||$365,000||$4,500||4.13%|
|GREENVILLE-ANDERSON, SC (FHA|USDA|VA)||1||$355,000||$355,000||$10,964||5.50%|
|NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)||1||$355,000||$355,000||$5,369||5.50%|
|HARRISBURG-CARLISLE, PA (FHA|USDA|VA)||1||$245,000||$245,000||$3,846||7.00%|
|MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA)||1||$205,000||$205,000||$2,983||4.88%|
|KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA)||1||$185,000||$185,000||$9,056||7.13%|
|LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA)||1||$175,000||$175,000||$3,901||3.88%|
|DuBois, PA (FHA|USDA|VA)||1||$135,000||$135,000||$3,939||5.38%|
|PITTSBURGH, PA (FHA|USDA|VA)||1||$25,000||$25,000||$0||6.75%|
We use machine learning to identify the top lenders compared against 1st Colonial Community Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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For 2022, 1st Colonial Community Bank's most frequently originated type of loan was Conventional, with 428 originations. Their 2nd most popular type was HELOC, with 286 originations.
For 2022, 1st Colonial Community Bank's most frequently cited loan purpose was Home Purchase, with 316 originations. The 2nd most popular reason was Home Improvement, with 139 originations.
For 2022, 1st Colonial Community Bank's most frequently cited loan duration was 30 Year, with 370 originations. The 2nd most popular length was Other, with 309 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
1st Colonial Community Bank's average total fees were $8,058, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 242 originations.
During 2022, 1st Colonial Community Bank's average interest rate for loans was 4.98%, while their most frequently originated rate bucket for loans was 5-6%, with 255 originations.
2022 saw 1st Colonial Community Bank place emphasis on $200k-400k loans with 316 originations, totaling $89,320,000 in origination value.
1st Colonial Community Bank lent most frequently to those with incomes in the $150k-250k range, with 198 originations. The second most popular income band? $250k+, with 167 originations.
Applicant Debt to Income Ratio
1st Colonial Community Bank lent most frequently to those with DTI ratios of 20-30%, with 147 originations. The next most common DTI ratio? 30-36%, with 124 originations.
Approval RatesTotal approvals of all applications
1st Colonial Community Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
1st Colonial Community Bank has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|