Crown Mortgage Company Rates, Fees & Info
OAK LAWN, ILLEI: 5493009KSPF2426CPQ08
Tax ID: 36-2736672
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
493Origination Dollar Volume (All Markets)
$105,465,000Relative 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 applications97.66%
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 origination91.43%
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% |
