Federated Mortgage Corp. Rates, Fees & Info

PITTSBURGH, PA

LEI: 5493009RSCJ6Y7LUWJ31

Tax ID: 75-3036920

5 stars - Updated: 6/17/24 - out of 5 stars, based on 18 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Federated Mortgage Corp. is a smaller mortgage company specializing in Home Purchase loans. Federated Mortgage Corp. 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: Pittsburgh, Washington, Baltimore, New York, and Raleigh among others. We have data for 35 markets. (Some data included below & more in-depth data is available with an active subscription.)

Federated Mortgage Corp. 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. Federated Mortgage Corp. 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 relatively high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.57% 6/17/24
30 Year Conventional Refi 6.50% 6/17/24
30 Year Cash-out Refi 6.52% 6/17/24
30 Year FHA Purchase 7.30% 6/17/24
30 Year FHA Refi 7.28% 6/17/24
30 Year VA Purchase 6.28% 6/17/24
30 Year VA Refi 6.00% 6/17/24
30 Year USDA Purchase 7.20% 6/17/24
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.

Federated Mortgage Corp. Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Federated Mortgage Corp.. 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.


Originations

338

Origination Dollar Volume (All Markets)

$95,760,000

Awards

FEDERATED MORTGAGE CORP. 30 Year Conventional Loans gold FEDERATED MORTGAGE CORP. 30 Year Conventional Loans gold FEDERATED MORTGAGE CORP. FHA Loans bronze
Show all (3) awards

Relative Rate

Federated Mortgage Corp.'s average 30 year fixed mortgage rate was 6.73%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.25%.

Relative Fees (Closing Costs)

Federated Mortgage Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $5,703.

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 $9,089.

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
PITTSBURGH, PA (FHA|USDA|VA) 249 $58,495,000 $234,920 $6,003 6.71%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 25 $13,485,000 $539,400 $4,157 6.83%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 12 $5,200,000 $433,333 $4,455 6.79%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 4 $2,610,000 $652,500 $6,042 6.38%
RALEIGH-CARY, NC (FHA|USDA|VA) 3 $1,385,000 $461,667 $3,714 6.71%
Outside of Metro Areas 5 $1,125,000 $225,000 $9,660 6.78%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $1,025,000 $341,667 $3,914 6.38%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 3 $1,025,000 $341,667 $4,612 5.91%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 3 $865,000 $288,333 $3,702 6.16%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $795,000 $265,000 $5,624 7.33%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $695,000 $695,000 $4,878 6.99%
RICHMOND, VA (FHA|USDA|VA) 1 $685,000 $685,000 $1,830 5.88%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $675,000 $675,000 $2,673 5.99%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $655,000 $655,000 $5,549 7.00%
JACKSONVILLE, NC (FHA|USDA|VA) 2 $590,000 $295,000 $5,200 6.12%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $520,000 $260,000 $5,010 6.56%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $505,000 $505,000 $5,857 6.13%
STOCKTON, CA (FHA|USDA|VA) 1 $485,000 $485,000 $4,991 7.99%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $465,000 $465,000 $5,002 6.88%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $420,000 $210,000 $3,882 5.69%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $415,000 $415,000 $3,994 6.63%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $345,000 $345,000 $1,650 6.63%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $345,000 $345,000 $14,516 6.13%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $325,000 $325,000 $3,665 5.88%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $305,000 $305,000 $4,649 5.63%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $305,000 $305,000 $7,089 7.13%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $305,000 $305,000 $3,713 6.63%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $295,000 $295,000 $9,954 6.25%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $285,000 $285,000 $15,032 7.25%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $255,000 $255,000 $4,023 7.49%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $255,000 $255,000 $2,782 6.50%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $245,000 $245,000 $3,540 5.63%
Paris, TX (FHA|USDA|VA) 1 $185,000 $185,000 $6,569 5.25%
ALBANY, GA (FHA|USDA|VA) 1 $125,000 $125,000 $3,085 6.50%
New Castle, PA (FHA|USDA|VA) 1 $65,000 $65,000 $3,601 7.49%
Federated Mortgage Corp.'s top markets include Pittsburgh, Washington, Baltimore, New York, and Raleigh among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against FEDERATED MORTGAGE CORP. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    TRI BORO
    Similarity Rank: 24
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 117
    POINT BREEZE
    Similarity Rank: 160
    InFirst Bank
    Similarity Rank: 300
    AmeriServ Financial Bank
    Similarity Rank: 384
    Chesapeake Bank
    Similarity Rank: 396

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 296 $86,390,000 $291,858 $5,330 6.68%
    FHA 30 $5,910,000 $197,000 $8,064 6.79%
    VA 11 $3,295,000 $299,545 $10,056 6.58%
    USDA 1 $165,000 $165,000 $5,971 7.13%

    For 2023, Federated Mortgage Corp.'s most frequently originated type of loan was Conventional, with 296 originations. Their 2nd most popular type was FHA, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 318 $91,780,000 $288,616 $5,761 6.67%
    Refi 14 $3,110,000 $222,143 $5,873 6.78%
    Cash Out Refi 6 $870,000 $145,000 $3,655 7.06%

    For 2023, Federated Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 318 originations. The 2nd most popular reason was Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 323 $90,035,000 $278,746 $5,703 6.73%
    15 Year 12 $4,530,000 $377,500 $5,906 5.63%
    20 Year 3 $1,195,000 $398,333 $7,715 6.00%

    For 2023, Federated Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 323 originations. The 2nd most popular length was 15 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 193 $45,245,000 $234,430
    $2k-3k 50 $13,050,000 $261,000
    $<1k 39 $19,755,000 $506,538
    $5k+ 23 $8,925,000 $388,043
    $3k-4k 21 $5,335,000 $254,048
    $4k-5k 12 $3,450,000 $287,500

    Federated Mortgage Corp.'s average total fees were $5,703, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 193 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 190 $53,580,000 $282,000
    7-8% 80 $20,980,000 $262,250
    5-6% 60 $18,890,000 $314,833
    Over 8% 8 $2,310,000 $288,750

    During 2023, Federated Mortgage Corp.'s average interest rate for loans was 6.73%, while their most frequently originated rate bucket for loans was 6-7%, with 190 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 140 $39,470,000 $281,929 $6,390 6.75%
    $100k-200k 104 $16,090,000 $154,712 $4,818 6.54%
    $400k-600k 35 $16,645,000 $475,571 $6,447 6.68%
    $100,000 or less 30 $2,270,000 $75,667 $4,304 7.11%
    $600k-1MM 26 $18,010,000 $692,692 $5,887 6.43%
    $1MM+ 3 $3,275,000 $1,091,667 $10,903 6.58%

    2023 saw Federated Mortgage Corp. place emphasis on $200k-400k loans with 140 originations, totaling $39,470,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 82 $30,840,000 $376,098 $6,326 6.75%
    $100k-150k 77 $21,015,000 $272,922 $5,503 6.71%
    $50k-75k 62 $10,110,000 $163,065 $4,886 6.56%
    $75k-100k 50 $11,270,000 $225,400 $5,893 6.55%
    $250k+ 48 $19,990,000 $416,458 $6,124 6.84%
    $50k or less 19 $2,535,000 $133,421 $5,374 6.66%

    Federated Mortgage Corp. lent most frequently to those with incomes in the $150k-250k range, with 82 originations. The second most popular income band? $100k-150k, with 77 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 91 $23,595,000 $259,286 $5,513 6.65%
    30-36% 51 $15,455,000 $303,039 $5,544 6.70%
    <20% 30 $7,930,000 $264,333 $5,005 6.47%
    42% 16 $6,360,000 $397,500 $5,465 6.97%
    37% 14 $4,060,000 $290,000 $5,661 6.47%
    47% 14 $3,700,000 $264,286 $5,804 6.68%
    38% 13 $4,105,000 $315,769 $6,102 6.47%
    48% 13 $4,385,000 $337,308 $6,159 6.66%
    39% 12 $4,300,000 $358,333 $6,706 6.72%
    36% 12 $2,520,000 $210,000 $5,230 6.61%
    44% 11 $3,025,000 $275,000 $6,779 6.68%
    43% 11 $2,215,000 $201,364 $6,490 6.79%
    40% 10 $1,840,000 $184,000 $4,290 6.69%
    49% 10 $3,560,000 $356,000 $6,392 6.70%
    46% 8 $2,310,000 $288,750 $5,624 6.98%
    41% 7 $2,345,000 $335,000 $5,678 7.45%
    50-60% 7 $2,045,000 $292,143 $9,126 7.00%
    45% 6 $1,750,000 $291,667 $5,718 6.63%
    >60% 2 $260,000 $130,000 $7,625 6.63%

    Federated Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 91 originations. The next most common DTI ratio? 30-36%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 231 $57,265,000 $247,900 $5,845 6.70%
    Asian 54 $21,920,000 $405,926 $4,719 6.76%
    Black 17 $4,805,000 $282,647 $6,938 6.65%
    Asian Indian 7 $4,535,000 $647,857 $4,281 6.75%
    Not provided 16 $3,840,000 $240,000 $6,561 6.39%
    10 $2,280,000 $228,000 $5,224 6.49%
    Other Asian 2 $790,000 $395,000 $11,147 6.94%
    Native Hawaiian or Islander 1 $325,000 $325,000 $3,665 5.88%

    Approval Rates

    Total approvals of all applications
    100.00%

    Federated Mortgage Corp. 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
    81.66%

    Federated Mortgage Corp. has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 338 $95,760,000 $283,314

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    338 $95,760,000 $283,314

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $1,925,000 $275,000 $4,128 6.69%
    40-60% 16 $3,310,000 $206,875 $4,524 6.43%
    60-80% 111 $31,375,000 $282,658 $5,505 6.74%
    80-100% 201 $58,365,000 $290,373 $5,916 6.67%
    Over 100% 3 $785,000 $261,667 $11,562 6.75%