Crown Mortgage Company Rates, Fees & Info
OAK LAWN, ILLEI: 5493009KSPF2426CPQ08
Tax ID: 36-2736672
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Crown Mortgage Company is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Crown Mortgage Company has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top two markets are Chicago and Kankakee .Crown Mortgage Company has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Crown Mortgage Company 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.66% | 3/19/23 |
| 30 Year Conventional Refi | 6.58% | 3/19/23 |
| 30 Year Cash-out Refi | 6.67% | 3/19/23 |
| 30 Year FHA Purchase | 7.27% | 3/19/23 |
| 30 Year FHA Refi | 7.05% | 3/19/23 |
| 30 Year VA Purchase | 6.38% | 3/19/23 |
| 30 Year VA Refi | 6.09% | 3/19/23 |
| 15 Year Conventional Purchase | 6.00% | 3/19/23 |
| 15 Year Conventional Refi | 5.98% | 3/19/23 |
| 15 Year Cash-out Refi | 5.98% | 3/19/23 |
| 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. | ||
Originations
493Origination Dollar Volume (All Markets)
$105,465,000Relative Rate
Crown Mortgage Company's average 30 year fixed mortgage rate was
3.14%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.01%.
Relative Fees (Closing Costs)
Crown Mortgage Company's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,144.
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.
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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 492 | $105,260,000 | $213,943 | $4,590 | 2.99% |
| KANKAKEE, IL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,356 | 3.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against CROWN MORTGAGE COMPANY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 456 | $98,250,000 | $215,461 | $4,327 | 2.99% |
| FHA | 35 | $6,665,000 | $190,429 | $8,019 | 3.06% |
| VA | 2 | $550,000 | $275,000 | $0 | 2.50% |
For 2021, Crown Mortgage Company's most frequently originated type of loan was Conventional, with 456 originations. Their 2nd most popular type was FHA, with 35 originations.
Loan Reason
For 2021, Crown Mortgage Company's most frequently cited loan purpose was Home Purchase, with 199 originations. The 2nd most popular reason was Refi, with 162 originations.
Loan Duration/Length
For 2021, Crown Mortgage Company's most frequently cited loan duration was 30 Year, with 362 originations. The 2nd most popular length was 15 Year, with 108 originations.
Origination Fees/Closing Costs
Crown Mortgage Company's average total fees were $5,144, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 124 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 256 | $55,180,000 | $215,547 |
| 2.5-3% | 140 | $31,460,000 | $224,714 |
| <2.5% | 97 | $18,825,000 | $194,072 |
During 2021, Crown Mortgage Company's average interest rate for loans was 3.14%, while their most frequently originated rate bucket for loans was 3-4%, with 256 originations.
Loan Sizing
2021 saw Crown Mortgage Company place emphasis on $200k-400k loans with 231 originations, totaling $62,225,000 in origination value.
Applicant Income
Crown Mortgage Company lent most frequently to those with incomes in the $100k-150k range, with 129 originations. The second most popular income band? $50k-75k, with 115 originations.
Applicant Debt to Income Ratio
Crown Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 172 originations. The next most common DTI ratio? 30-36%, with 109 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.42%
Crown Mortgage Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination92.49%
Crown Mortgage Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 493 | $105,465,000 | $213,925 |