Crown Mortgage Company Rates, Fees & Info

OAK LAWN, IL

LEI: 5493009KSPF2426CPQ08

Tax ID: 36-2736672

4.6 stars - out of 5 stars, based on 22 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


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 markets include Chicago and Kankakee among others. Crown Mortgage Company has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Crown Mortgage Company is typically an average fee lendor.


Originations

493

Origination Dollar Volume (All Markets)

$105,465,000

Relative Rate

Crown Mortgage Company's average 30 year fixed rate mortgage of loans were 3.14%.

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

This yields a difference of -0.01%.

Relative Fees

Crown Mortgage Company's average total fees for a 30 year fixed rate mortgage are $5,144.

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
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%

Crown Mortgage Company's top markets include Chicago and Kankakee among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average 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 the 2021 period, Crown Mortgage Company's most frequently originated loan type of loans were Conventional, with 456 originations. Their 2nd most popular type is FHA, with 35 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 199 $48,945,000 $245,955 $6,065 3.11%
Refi 162 $31,120,000 $192,099 $3,071 2.84%
Cash Out Refi 132 $25,400,000 $192,424 $4,198 3.00%

For the 2021, Crown Mortgage Company's most frequently cited loan purpose of loans were Home Purchase, with 199 originations. The 2nd most popular reason of loans were Refi, with 162 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 362 $80,770,000 $223,122 $5,144 3.14%
15 Year 108 $19,870,000 $183,981 $2,900 2.49%
Other 23 $4,825,000 $209,783 $3,841 3.05%

For the 2021, Crown Mortgage Company's most frequently cited loan length of loans were 30 Year, with 362 originations. The 2nd most popular length of loans were 15 Year, with 108 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 124 $27,680,000 $223,226
$1k-2k 124 $23,260,000 $187,581
$2k-3k 115 $23,225,000 $201,957
$3k-4k 81 $17,975,000 $221,914
$5k+ 48 $13,130,000 $273,542

$5,144 of loans were Crown Mortgage Company's average total fees, while their most frequently occuring range of origination fees 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 of loans were 3.14%, while their most frequently originated rate bucket of loans were 3-4%, with 256 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 231 $62,225,000 $269,372 $5,402 3.00%
$100k-200k 205 $30,335,000 $147,976 $3,978 3.01%
$100,000 or less 35 $2,905,000 $83,000 $2,882 2.89%
$400k-600k 22 $10,000,000 $454,545 $4,600 3.04%

2021 saw Crown Mortgage Company place emphasis on $200k-400k loans with 231 originations, totaling $62,225,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 129 $30,845,000 $239,109 $4,867 2.98%
$50k-75k 115 $19,295,000 $167,783 $4,415 3.07%
$75k-100k 104 $21,120,000 $203,077 $4,522 2.98%
$150k-250k 81 $23,285,000 $287,469 $4,620 2.90%
$50k or less 52 $6,750,000 $129,808 $4,226 3.10%
$250k+ 12 $4,170,000 $347,500 $5,286 2.71%

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

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 172 $37,170,000 $216,105 $4,478 2.99%
30-36% 109 $21,905,000 $200,963 $4,751 2.99%
<20% 56 $11,740,000 $209,643 $3,708 2.84%
36% 23 $5,375,000 $233,696 $4,785 3.03%
39% 22 $4,660,000 $211,818 $6,152 3.01%
37% 21 $5,085,000 $242,143 $3,904 3.02%
38% 16 $3,640,000 $227,500 $4,387 3.06%
41% 15 $3,485,000 $232,333 $3,706 3.12%
40% 12 $2,970,000 $247,500 $5,887 3.01%
42% 12 $2,600,000 $216,667 $5,824 3.20%
43% 9 $1,975,000 $219,444 $4,056 2.94%
44% 9 $1,615,000 $179,444 $5,195 3.06%
46% 6 $1,070,000 $178,333 $4,027 3.17%
49% 3 $515,000 $171,667 $4,815 3.13%
45% 3 $405,000 $135,000 $6,483 3.33%
47% 2 $540,000 $270,000 $7,295 3.38%
48% 1 $165,000 $165,000 $7,663 3.00%

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

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 442 $94,950,000 $214,819 $4,543 2.99%
Black 38 $6,840,000 $180,000 $4,809 2.94%
Asian 8 $2,460,000 $307,500 $6,544 3.17%
Not provided 4 $850,000 $212,500 $4,826 3.31%
Other Asian 1 $365,000 $365,000 $1,127 2.38%

Approval Rates

Total approvals of all applications
97.66%

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 origination
91.43%

Crown Mortgage Company has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 493 $105,465,000 $213,925

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
493 $105,465,000 $213,925

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 17 $2,315,000 $136,176 $3,195 2.96%
40-60% 82 $12,140,000 $148,049 $2,564 2.80%
60-80% 220 $47,790,000 $217,227 $4,469 3.00%
80-100% 174 $43,220,000 $248,391 $5,840 3.09%