Federated Mortgage Corp. Rates, Fees & Info
PITTSBURGH, PALEI: 5493009RSCJ6Y7LUWJ31
Tax ID: 75-3036920
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Mortgage Data
Review & Overview
Federated Mortgage Corp. is a smaller mortgage company specializing in Refi loans. Federated Mortgage Corp. has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Washington, Oxnard, Baltimore, Philadelphia, and New York among others. We have data for 9 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. Federated Mortgage Corp. is typically a low 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 | 6.57% | 4/21/24 |
| 30 Year Conventional Refi | 6.50% | 4/21/24 |
| 30 Year Cash-out Refi | 6.52% | 4/21/24 |
| 30 Year FHA Purchase | 7.30% | 4/21/24 |
| 30 Year FHA Refi | 7.28% | 4/21/24 |
| 30 Year VA Purchase | 6.28% | 4/21/24 |
| 30 Year VA Refi | 6.00% | 4/21/24 |
| 30 Year USDA Purchase | 7.20% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
25Origination Dollar Volume (All Markets)
$8,505,000Awards
FEDERATED MORTGAGE CORP. - 2020
FEDERATED MORTGAGE CORP. is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 9 | $3,345,000 | $371,667 | $2,460 | 2.49% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 3 | $1,425,000 | $475,000 | $2,415 | 2.46% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 4 | $1,340,000 | $335,000 | $2,213 | 2.38% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $2,405 | 2.63% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $2,105 | 2.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $2,268 | 2.75% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $2,105 | 2.50% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,705 | 2.75% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,105 | 3.25% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 24 | $8,380,000 | $349,167 | $2,352 | 2.54% |
| FHA | 1 | $125,000 | $125,000 | $2,435 | 2.38% |
For 2020, Federated Mortgage Corp.'s most frequently originated type of loan was Conventional, with 24 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 19 | $7,275,000 | $382,895 | $2,385 | 2.49% |
| Home Purchase | 6 | $1,230,000 | $205,000 | $2,258 | 2.67% |
For 2020, Federated Mortgage Corp.'s most frequently cited loan purpose was Refi, with 19 originations. The 2nd most popular reason was Home Purchase, with 6 originations.
Loan Duration/Length
For 2020, Federated Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 17 originations. The 2nd most popular length was 15 Year, with 7 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 25 | $8,505,000 | $340,200 |
Federated Mortgage Corp.'s average total fees were $2,379, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 25 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 18 | $6,420,000 | $356,667 |
| 2.5-3% | 5 | $1,795,000 | $359,000 |
| 3-4% | 2 | $290,000 | $145,000 |
During 2020, Federated Mortgage Corp.'s average interest rate for loans was 2.63%, while their most frequently originated rate bucket for loans was <2.5%, with 18 originations.
Loan Sizing
2020 saw Federated Mortgage Corp. place emphasis on $200k-400k loans with 12 originations, totaling $3,740,000 in origination value.
Applicant Income
Federated Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 11 originations. The second most popular income band? $150k-250k, with 7 originations.
Applicant Debt to Income Ratio
Federated Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 12 originations. The next most common DTI ratio? 30-36%, with 7 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Asian | 18 | $6,580,000 | $365,556 | $2,392 | 2.47% |
| White | 7 | $1,925,000 | $275,000 | $2,261 | 2.68% |
Approval Rates
Total approvals of all applications100.00%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 25 | $8,505,000 | $340,200 |