Crown Mortgage Company Rates, Fees & Info
OAK LAWN, ILLEI: 5493009KSPF2426CPQ08
Tax ID: 36-2736672
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Mortgage Data
Review & Overview
Crown Mortgage Company is a smaller mortgage company specializing in Refi and Home Purchase loans. Crown Mortgage Company has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top (well, only) market is Chicago.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 | 6.88% | 12/17/24 |
| 30 Year Conventional Refi | 6.82% | 12/17/24 |
| 30 Year Cash-out Refi | 6.84% | 12/17/24 |
| 30 Year FHA Purchase | 7.23% | 12/17/24 |
| 30 Year FHA Refi | 7.83% | 12/17/24 |
| 30 Year VA Purchase | 6.75% | 12/17/24 |
| 15 Year Conventional Purchase | 5.93% | 12/17/24 |
| 15 Year Conventional Refi | 6.33% | 12/17/24 |
| 15 Year Cash-out Refi | 6.33% | 12/17/24 |
| 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. | ||
Crown Mortgage Company Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
613Origination Dollar Volume (All Markets)
$128,835,000Top 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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 613 | $128,835,000 | $210,171 | $4,215 | 3.05% |
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 | 562 | $117,830,000 | $209,662 | $3,868 | 3.02% |
| FHA | 42 | $8,860,000 | $210,952 | $8,125 | 3.42% |
| VA | 9 | $2,145,000 | $238,333 | $7,585 | 3.33% |
For 2020, Crown Mortgage Company's most frequently originated type of loan was Conventional, with 562 originations. Their 2nd most popular type was FHA, with 42 originations.
Loan Reason
For 2020, Crown Mortgage Company's most frequently cited loan purpose was Refi, with 334 originations. The 2nd most popular reason was Home Purchase, with 183 originations.
Loan Duration/Length
For 2020, Crown Mortgage Company's most frequently cited loan duration was 30 Year, with 416 originations. The 2nd most popular length was 15 Year, with 166 originations.
Origination Fees/Closing Costs
Crown Mortgage Company's average total fees were $4,845, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 164 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 300 | $63,740,000 | $212,467 |
| 2.5-3% | 202 | $43,040,000 | $213,069 |
| <2.5% | 103 | $20,895,000 | $202,864 |
| 4-5% | 8 | $1,160,000 | $145,000 |
During 2020, Crown Mortgage Company's average interest rate for loans was 3.22%, while their most frequently originated rate bucket for loans was 3-4%, with 300 originations.
Loan Sizing
2020 saw Crown Mortgage Company place emphasis on $200k-400k loans with 304 originations, totaling $80,040,000 in origination value.
Applicant Income
Crown Mortgage Company lent most frequently to those with incomes in the $100k-150k range, with 200 originations. The second most popular income band? $75k-100k, with 139 originations.
Applicant Debt to Income Ratio
Crown Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 225 originations. The next most common DTI ratio? 30-36%, with 131 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.74%
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 origination90.38%
Crown Mortgage Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 613 | $128,835,000 | $210,171 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 613 | $128,835,000 | $210,171 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Crown Mortgage Co. | Conventional home mortgage | Struggling to pay mortgage | 1 | 33.3% |
| Crown Mortgage Co. | FHA mortgage | Struggling to pay mortgage | 1 | 33.3% |
| Crown Mortgage Co. | FHA mortgage | Trouble during payment process | 1 | 33.3% |