American Financing Corporation

AURORA, CO 80014

LEI: 549300ALNLUNS3Y53T24

Tax ID: 84-1594306

2019 Data | 2018 Data


Overview

American Financing Corporation is a small mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. American Financing Corporation has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Denver, Greeley, Fort Collins, Boulder, and Colorado Springs among others. They have an average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. American Financing Corporation is typically a medium-low fee high fee lendor.


Originations

15,120

Origination Dollar Volume (All Markets)

$4,070,140,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 7,854 $1,951,870,000 $248,519
FHA 5,544 $1,580,590,000 $285,099
VA 1,687 $530,205,000 $314,289
USDA 35 $7,475,000 $213,571

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 2,928 $837,310,000 $285,967
Other 1 $25,000 $25,000
Refi 4,030 $1,140,830,000 $283,084
Cash Out Refi 8,161 $2,091,975,000 $256,338

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
DENVER-AURORA-LAKEWOOD, CO 8,335 $2,457,955,000 $294,896
GREELEY, CO 1,298 $358,340,000 $276,071
Outside of Metro Areas 944 $178,890,000 $189,502
FORT COLLINS, CO 497 $142,865,000 $287,455
BOULDER, CO 259 $81,975,000 $316,506
COLORADO SPRINGS, CO 282 $74,230,000 $263,227
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 247 $70,455,000 $285,243
PHOENIX-MESA-CHANDLER, AZ 249 $56,115,000 $225,361
OGDEN-CLEARFIELD, UT 88 $24,400,000 $277,273
URBAN HONOLULU, HI 53 $22,285,000 $420,472
SALT LAKE CITY, UT 84 $22,170,000 $263,929
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 90 $20,240,000 $224,889
SALEM, OR 60 $15,100,000 $251,667
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 70 $14,220,000 $203,143
PROVO-OREM, UT 53 $13,955,000 $263,302
PUEBLO, CO 78 $13,900,000 $178,205
TAMPA-ST. PETERSBURG-CLEARWATER, FL 65 $12,995,000 $199,923
LOS ANGELES-LONG BEACH-GLENDALE, CA 29 $10,685,000 $368,448
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 39 $9,995,000 $256,282
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 42 $9,850,000 $234,524
LAS VEGAS-HENDERSON-PARADISE, NV 39 $9,835,000 $252,179
BOISE CITY, ID 41 $9,535,000 $232,561
CHEYENNE, WY 37 $8,975,000 $242,568
DALLAS-PLANO-IRVING, TX 43 $8,645,000 $201,047
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 29 $8,555,000 $295,000
COLUMBUS, OH 46 $8,180,000 $177,826
SAN ANTONIO-NEW BRAUNFELS, TX 39 $8,165,000 $209,359
SEATTLE-BELLEVUE-KENT, WA 21 $7,355,000 $350,238
FRESNO, CA 32 $6,970,000 $217,813
RALEIGH-CARY, NC 30 $6,850,000 $228,333
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 29 $6,265,000 $216,034
FORT WORTH-ARLINGTON-GRAPEVINE, TX 28 $5,780,000 $206,429
CHARLESTON-NORTH CHARLESTON, SC 27 $5,745,000 $212,778
GRAND JUNCTION, CO 27 $5,615,000 $207,963
AUSTIN-ROUND ROCK-GEORGETOWN, TX 23 $5,535,000 $240,652
RICHMOND, VA 23 $5,135,000 $223,261
CINCINNATI, OH-KY-IN 28 $5,050,000 $180,357
BAKERSFIELD, CA 25 $5,045,000 $201,800
OKLAHOMA CITY, OK 31 $4,985,000 $160,806
CHARLOTTE-CONCORD-GASTONIA, NC-SC 25 $4,955,000 $198,200
IDAHO FALLS, ID 23 $4,955,000 $215,435
TUCSON, AZ 24 $4,930,000 $205,417
PITTSBURGH, PA 26 $4,710,000 $181,154
SPOKANE-SPOKANE VALLEY, WA 21 $4,705,000 $224,048
ALBUQUERQUE, NM 25 $4,655,000 $186,200
INDIANAPOLIS-CARMEL-ANDERSON, IN 27 $4,545,000 $168,333
CAPE CORAL-FORT MYERS, FL 22 $4,530,000 $205,909
ORLANDO-KISSIMMEE-SANFORD, FL 20 $4,470,000 $223,500
LONGVIEW, WA 18 $4,290,000 $238,333
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 11 $4,235,000 $385,000
JACKSONVILLE, FL 19 $4,225,000 $222,368
ANAHEIM-SANTA ANA-IRVINE, CA 11 $4,045,000 $367,727
MEMPHIS, TN-MS-AR 22 $3,840,000 $174,545
KANSAS CITY, MO-KS 20 $3,650,000 $182,500
SACRAMENTO-ROSEVILLE-FOLSOM, CA 16 $3,590,000 $224,375
TACOMA-LAKEWOOD, WA 10 $3,530,000 $353,000
COEUR D'ALENE, ID 16 $3,520,000 $220,000
PRESCOTT VALLEY-PRESCOTT, AZ 15 $3,435,000 $229,000
ALBANY-LEBANON, OR 15 $3,185,000 $212,333
CHICAGO-NAPERVILLE-EVANSTON, IL 13 $3,125,000 $240,385
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 14 $3,120,000 $222,857
ST. GEORGE, UT 13 $3,045,000 $234,231
CLEVELAND-ELYRIA, OH 19 $2,995,000 $157,632
KENNEWICK-RICHLAND, WA 11 $2,975,000 $270,455
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 11 $2,945,000 $267,727
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 14 $2,900,000 $207,143
BALTIMORE-COLUMBIA-TOWSON, MD 9 $2,865,000 $318,333
WINSTON-SALEM, NC 14 $2,860,000 $204,286
ASHEVILLE, NC 11 $2,785,000 $253,182
GRAND RAPIDS-KENTWOOD, MI 18 $2,750,000 $152,778
RENO, NV 10 $2,730,000 $273,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 15 $2,715,000 $181,000
OMAHA-COUNCIL BLUFFS, NE-IA 12 $2,570,000 $214,167
OAKLAND-BERKELEY-LIVERMORE, CA 7 $2,425,000 $346,429
WORCESTER, MA-CT 11 $2,405,000 $218,636
EUGENE-SPRINGFIELD, OR 11 $2,345,000 $213,182
COLUMBIA, SC 14 $2,340,000 $167,143
LOUISVILLE/JEFFERSON COUNTY, KY-IN 12 $2,250,000 $187,500
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 10 $2,230,000 $223,000
OXNARD-THOUSAND OAKS-VENTURA, CA 4 $2,190,000 $547,500
ALBANY-SCHENECTADY-TROY, NY 11 $2,175,000 $197,727
TULSA, OK 14 $2,170,000 $155,000
ST. LOUIS, MO-IL 12 $2,120,000 $176,667
BIRMINGHAM-HOOVER, AL 10 $2,090,000 $209,000
HUNTSVILLE, AL 9 $2,075,000 $230,556
VISALIA, CA 11 $2,075,000 $188,636
BEND, OR 8 $2,060,000 $257,500
LANCASTER, PA 10 $2,060,000 $206,000
GREENVILLE-ANDERSON, SC 10 $2,060,000 $206,000
NORTH PORT-SARASOTA-BRADENTON, FL 9 $2,045,000 $227,222
ANCHORAGE, AK 6 $2,030,000 $338,333
GREENSBORO-HIGH POINT, NC 12 $2,010,000 $167,500
MILWAUKEE-WAUKESHA, WI 9 $1,965,000 $218,333
PALM BAY-MELBOURNE-TITUSVILLE, FL 11 $1,935,000 $175,909
DES MOINES-WEST DES MOINES, IA 9 $1,935,000 $215,000
LAKELAND-WINTER HAVEN, FL 13 $1,935,000 $148,846
AUGUSTA-RICHMOND COUNTY, GA-SC 10 $1,910,000 $191,000
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 5 $1,865,000 $373,000
PORT ST. LUCIE, FL 8 $1,850,000 $231,250
OLYMPIA-LACEY-TUMWATER, WA 6 $1,850,000 $308,333
WARREN-TROY-FARMINGTON HILLS, MI 11 $1,845,000 $167,727
MIAMI-MIAMI BEACH-KENDALL, FL 9 $1,845,000 $205,000
MODESTO, CA 7 $1,805,000 $257,857
TOLEDO, OH 16 $1,800,000 $112,500
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 5 $1,785,000 $357,000
PENSACOLA-FERRY PASS-BRENT, FL 12 $1,740,000 $145,000
LINCOLN, NE 8 $1,640,000 $205,000
EL PASO, TX 11 $1,615,000 $146,818
PROVIDENCE-WARWICK, RI-MA 6 $1,590,000 $265,000
HILTON HEAD ISLAND-BLUFFTON, SC 5 $1,575,000 $315,000
SAN LUIS OBISPO-PASO ROBLES, CA 5 $1,575,000 $315,000
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 7 $1,555,000 $222,143
KNOXVILLE, TN 10 $1,520,000 $152,000
MIDLAND, TX 5 $1,515,000 $303,000
AKRON, OH 10 $1,500,000 $150,000
HARRISBURG-CARLISLE, PA 8 $1,480,000 $185,000
NEW BRUNSWICK-LAKEWOOD, NJ 5 $1,475,000 $295,000
LOGAN, UT-ID 9 $1,465,000 $162,778
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 10 $1,460,000 $146,000
PHILADELPHIA, PA 8 $1,460,000 $182,500
WICHITA, KS 12 $1,450,000 $120,833
CASPER, WY 6 $1,410,000 $235,000
NAPLES-MARCO ISLAND, FL 7 $1,395,000 $199,286
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 7 $1,395,000 $199,286
VALLEJO, CA 4 $1,380,000 $345,000
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 8 $1,380,000 $172,500
LAKE HAVASU CITY-KINGMAN, AZ 8 $1,370,000 $171,250
DAPHNE-FAIRHOPE-FOLEY, AL 6 $1,340,000 $223,333
SAVANNAH, GA 8 $1,310,000 $163,750
STOCKTON, CA 5 $1,305,000 $261,000
MEDFORD, OR 3 $1,295,000 $431,667
PORTLAND-SOUTH PORTLAND, ME 6 $1,260,000 $210,000
DAYTON-KETTERING, OH 9 $1,245,000 $138,333
JACKSON, MS 6 $1,240,000 $206,667
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 4 $1,190,000 $297,500
COLUMBUS, GA-AL 9 $1,185,000 $131,667
YUBA CITY, CA 4 $1,170,000 $292,500
CAMDEN, NJ 5 $1,165,000 $233,000
HOMOSASSA SPRINGS, FL 5 $1,135,000 $227,000
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 5 $1,135,000 $227,000
GAINESVILLE, FL 5 $1,115,000 $223,000
BRIDGEPORT-STAMFORD-NORWALK, CT 4 $1,090,000 $272,500
SYRACUSE, NY 8 $1,080,000 $135,000
NEW ORLEANS-METAIRIE, LA 7 $1,065,000 $152,143
LEWISTON, ID-WA 4 $1,050,000 $262,500
OCALA, FL 8 $1,030,000 $128,750
ABILENE, TX 6 $1,010,000 $168,333
BELLINGHAM, WA 4 $1,010,000 $252,500
BOSTON, MA 3 $995,000 $331,667
NASSAU COUNTY-SUFFOLK COUNTY, NY 3 $985,000 $328,333
SOUTH BEND-MISHAWAKA, IN-MI 7 $975,000 $139,286
TYLER, TX 6 $970,000 $161,667
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 4 $970,000 $242,500
REDDING, CA 3 $965,000 $321,667
SPRINGFIELD, MO 6 $960,000 $160,000
CHATTANOOGA, TN-GA 5 $955,000 $191,000
SIOUX FALLS, SD 4 $940,000 $235,000
GARY, IN 6 $930,000 $155,000
BATON ROUGE, LA 4 $910,000 $227,500
FAYETTEVILLE, NC 5 $905,000 $181,000
LAKE COUNTY-KENOSHA COUNTY, IL-WI 5 $895,000 $179,000
SIOUX CITY, IA-NE-SD 4 $890,000 $222,500
WILMINGTON, DE-MD-NJ 4 $870,000 $217,500
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 6 $870,000 $145,000
NEWARK, NJ-PA 5 $865,000 $173,000
TALLAHASSEE, FL 5 $865,000 $173,000
DETROIT-DEARBORN-LIVONIA, MI 8 $860,000 $107,500
LYNCHBURG, VA 5 $845,000 $169,000
BILLINGS, MT 4 $840,000 $210,000
POCATELLO, ID 6 $840,000 $140,000
JONESBORO, AR 6 $830,000 $138,333
ELKHART-GOSHEN, IN 7 $825,000 $117,857
AMARILLO, TX 6 $800,000 $133,333
LANSING-EAST LANSING, MI 5 $795,000 $159,000
GULFPORT-BILOXI, MS 5 $785,000 $157,000
CORPUS CHRISTI, TX 6 $780,000 $130,000
TOPEKA, KS 4 $750,000 $187,500
NEW HAVEN-MILFORD, CT 5 $745,000 $149,000
TWIN FALLS, ID 4 $720,000 $180,000
ROCHESTER, NY 7 $715,000 $102,143
JACKSON, MI 6 $710,000 $118,333
PANAMA CITY, FL 3 $675,000 $225,000
BARNSTABLE TOWN, MA 3 $665,000 $221,667
WILMINGTON, NC 3 $655,000 $218,333
BANGOR, ME 4 $640,000 $160,000
JEFFERSON CITY, MO 3 $635,000 $211,667
MADERA, CA 3 $635,000 $211,667
LAS CRUCES, NM 3 $625,000 $208,333
FORT WAYNE, IN 5 $625,000 $125,000
YORK-HANOVER, PA 4 $610,000 $152,500
PUNTA GORDA, FL 2 $610,000 $305,000
MANCHESTER-NASHUA, NH 2 $600,000 $300,000
SAN ANGELO, TX 3 $595,000 $198,333
LONGVIEW, TX 4 $590,000 $147,500
BURLINGTON, NC 3 $585,000 $195,000
CHAMBERSBURG-WAYNESBORO, PA 3 $585,000 $195,000
LEXINGTON-FAYETTE, KY 3 $575,000 $191,667
FLINT, MI 3 $575,000 $191,667
SEBASTIAN-VERO BEACH, FL 3 $575,000 $191,667
LAFAYETTE, LA 5 $555,000 $111,000
CHICO, CA 3 $555,000 $185,000
KINGSPORT-BRISTOL, TN-VA 3 $545,000 $181,667
LAWRENCE, KS 3 $545,000 $181,667
JACKSONVILLE, NC 2 $540,000 $270,000
MOBILE, AL 4 $540,000 $135,000
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 3 $535,000 $178,333
RAPID CITY, SD 3 $535,000 $178,333
DURHAM-CHAPEL HILL, NC 3 $525,000 $175,000
FARMINGTON, NM 3 $515,000 $171,667
WENATCHEE, WA 2 $510,000 $255,000
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 4 $510,000 $127,500
TEXARKANA, TX-AR 3 $495,000 $165,000
GREEN BAY, WI 3 $495,000 $165,000
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 1 $485,000 $485,000
SAN RAFAEL, CA 1 $485,000 $485,000
STAUNTON, VA 3 $485,000 $161,667
HAMMOND, LA 2 $480,000 $240,000
SIERRA VISTA-DOUGLAS, AZ 3 $475,000 $158,333
SALISBURY, MD-DE 3 $475,000 $158,333
SPRINGFIELD, IL 3 $475,000 $158,333
HICKORY-LENOIR-MORGANTON, NC 1 $475,000 $475,000
AMES, IA 2 $470,000 $235,000
COLLEGE STATION-BRYAN, TX 3 $455,000 $151,667
BLACKSBURG-CHRISTIANSBURG, VA 3 $455,000 $151,667
SANTA CRUZ-WATSONVILLE, CA 2 $450,000 $225,000
BREMERTON-SILVERDALE-PORT ORCHARD, WA 2 $450,000 $225,000
OWENSBORO, KY 3 $445,000 $148,333
FORT SMITH, AR-OK 3 $445,000 $148,333
ANN ARBOR, MI 4 $440,000 $110,000
ROCKFORD, IL 4 $430,000 $107,500
BLOOMINGTON, IL 4 $420,000 $105,000
DOVER, DE 2 $420,000 $210,000
BLOOMSBURG-BERWICK, PA 3 $415,000 $138,333
SAGINAW, MI 5 $415,000 $83,000
ELGIN, IL 2 $410,000 $205,000
GREENVILLE, NC 3 $405,000 $135,000
LAKE CHARLES, LA 3 $395,000 $131,667
MONROE, MI 2 $380,000 $190,000
BUFFALO-CHEEKTOWAGA, NY 3 $375,000 $125,000
MUSKEGON, MI 3 $375,000 $125,000
VICTORIA, TX 2 $370,000 $185,000
BLOOMINGTON, IN 2 $360,000 $180,000
WAUSAU-WESTON, WI 2 $360,000 $180,000
SANTA FE, NM 1 $355,000 $355,000
CHARLESTON, WV 2 $350,000 $175,000
MICHIGAN CITY-LA PORTE, IN 2 $350,000 $175,000
KALAMAZOO-PORTAGE, MI 2 $350,000 $175,000
APPLETON, WI 2 $350,000 $175,000
LUBBOCK, TX 3 $345,000 $115,000
CLEVELAND, TN 2 $340,000 $170,000
READING, PA 2 $340,000 $170,000
SANTA MARIA-SANTA BARBARA, CA 1 $325,000 $325,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 3 $315,000 $105,000
WICHITA FALLS, TX 3 $315,000 $105,000
HUNTINGTON-ASHLAND, WV-KY-OH 2 $310,000 $155,000
BOWLING GREEN, KY 2 $300,000 $150,000
KAHULUI-WAILUKU-LAHAINA, HI 1 $295,000 $295,000
ROANOKE, VA 3 $295,000 $98,333
ROCHESTER, MN 1 $295,000 $295,000
WACO, TX 2 $280,000 $140,000
WILLIAMSPORT, PA 2 $280,000 $140,000
DOTHAN, AL 1 $275,000 $275,000
KILLEEN-TEMPLE, TX 3 $275,000 $91,667
NORWICH-NEW LONDON, CT 1 $275,000 $275,000
HINESVILLE, GA 1 $275,000 $275,000
CLARKSVILLE, TN-KY 2 $270,000 $135,000
AUBURN-OPELIKA, AL 2 $270,000 $135,000
SALINAS, CA 1 $265,000 $265,000
BURLINGTON-SOUTH BURLINGTON, VT 1 $265,000 $265,000
ST. JOSEPH, MO-KS 2 $260,000 $130,000
MOUNT VERNON-ANACORTES, WA 1 $255,000 $255,000
UTICA-ROME, NY 2 $250,000 $125,000
BEAUMONT-PORT ARTHUR, TX 2 $250,000 $125,000
CEDAR RAPIDS, IA 2 $250,000 $125,000
GADSDEN, AL 2 $240,000 $120,000
FAIRBANKS, AK 1 $235,000 $235,000
TRENTON-PRINCETON, NJ 1 $235,000 $235,000
FOND DU LAC, WI 2 $230,000 $115,000
WHEELING, WV-OH 2 $230,000 $115,000
HAGERSTOWN-MARTINSBURG, MD-WV 2 $230,000 $115,000
WATERLOO-CEDAR FALLS, IA 1 $225,000 $225,000
EL CENTRO, CA 1 $225,000 $225,000
FLAGSTAFF, AZ 1 $225,000 $225,000
MONROE, LA 2 $220,000 $110,000
PINE BLUFF, AR 3 $215,000 $71,667
MCALLEN-EDINBURG-MISSION, TX 1 $215,000 $215,000
JOHNSTOWN, PA 2 $210,000 $105,000
LEBANON, PA 1 $205,000 $205,000
EAU CLAIRE, WI 1 $205,000 $205,000
YUMA, AZ 1 $205,000 $205,000
ELIZABETHTOWN-FORT KNOX, KY 1 $195,000 $195,000
RACINE, WI 1 $195,000 $195,000
SHERMAN-DENISON, TX 1 $195,000 $195,000
ALEXANDRIA, LA 1 $185,000 $185,000
MONTGOMERY, AL 1 $185,000 $185,000
EAST STROUDSBURG, PA 1 $185,000 $185,000
THE VILLAGES, FL 1 $185,000 $185,000
JOHNSON CITY, TN 2 $180,000 $90,000
DECATUR, AL 2 $180,000 $90,000
GRANTS PASS, OR 1 $175,000 $175,000
MANHATTAN, KS 1 $175,000 $175,000
BATTLE CREEK, MI 1 $175,000 $175,000
MANSFIELD, OH 2 $170,000 $85,000
ROME, GA 1 $165,000 $165,000
WALLA WALLA, WA 1 $165,000 $165,000
CHARLOTTESVILLE, VA 1 $165,000 $165,000
MERCED, CA 1 $165,000 $165,000
FARGO, ND-MN 1 $165,000 $165,000
GLENS FALLS, NY 1 $165,000 $165,000
GOLDSBORO, NC 1 $155,000 $155,000
HARRISONBURG, VA 1 $155,000 $155,000
YAKIMA, WA 1 $155,000 $155,000
WATERTOWN-FORT DRUM, NY 1 $155,000 $155,000
VINELAND-BRIDGETON, NJ 1 $145,000 $145,000
HOT SPRINGS, AR 1 $145,000 $145,000
NEW BERN, NC 1 $145,000 $145,000
LAFAYETTE-WEST LAFAYETTE, IN 1 $145,000 $145,000
GETTYSBURG, PA 1 $145,000 $145,000
WEIRTON-STEUBENVILLE, WV-OH 1 $135,000 $135,000
JACKSON, TN 1 $135,000 $135,000
MIDLAND, MI 1 $135,000 $135,000
SPRINGFIELD, MA 1 $125,000 $125,000
DULUTH, MN-WI 1 $125,000 $125,000
MORRISTOWN, TN 1 $115,000 $115,000
HANFORD-CORCORAN, CA 1 $115,000 $115,000
EVANSVILLE, IN-KY 1 $115,000 $115,000
OCEAN CITY, NJ 1 $115,000 $115,000
SPARTANBURG, SC 1 $115,000 $115,000
SEBRING-AVON PARK, FL 1 $105,000 $105,000
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 1 $105,000 $105,000
HATTIESBURG, MS 1 $105,000 $105,000
ANNISTON-OXFORD, AL 1 $105,000 $105,000
MUNCIE, IN 1 $105,000 $105,000
STATE COLLEGE, PA 1 $95,000 $95,000
JOPLIN, MO 1 $95,000 $95,000
PEORIA, IL 1 $85,000 $85,000
CUMBERLAND, MD-WV 1 $85,000 $85,000
BRUNSWICK, GA 1 $85,000 $85,000
CARBONDALE-MARION, IL 1 $85,000 $85,000
LA CROSSE-ONALASKA, WI-MN 1 $85,000 $85,000
VALDOSTA, GA 1 $65,000 $65,000
ITHACA, NY 1 $55,000 $55,000
LEWISTON-AUBURN, ME 1 $35,000 $35,000
LAWTON, OK 1 $35,000 $35,000
BINGHAMTON, NY 1 $35,000 $35,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
<2.5% 1 $425,000 $425,000
2.5-3% 103 $29,465,000 $286,068
3-4% 7,565 $2,074,735,000 $274,254
4-5% 6,266 $1,662,240,000 $265,279
5-6% 1,141 $290,205,000 $254,343
6-7% 39 $11,825,000 $303,205
7-8% 5 $1,245,000 $249,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 620 $45,370,000 $73,177
$100k-200k 3,457 $540,105,000 $156,235
$200k-400k 9,399 $2,715,645,000 $288,929
$400k-600k 1,580 $723,720,000 $458,051
$600k-1000k 63 $43,685,000 $693,413
$Over $1MM 1 $1,615,000 $1,615,000

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
20-40% 615 $83,955,000 $136,512
40-60% 2,073 $441,225,000 $212,844
60-80% 5,129 $1,374,245,000 $267,936
80-100% 7,102 $2,124,780,000 $299,181
Over 100% 113 $38,445,000 $340,221
Under 20% 88 $7,490,000 $85,114

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 2,963 $925,805,000 $312,455
$150k-250k 1,119 $408,515,000 $365,071
$50k-75k 4,179 $990,135,000 $236,931
$50k-or less 3,475 $778,175,000 $223,935
$75k-100k 3,236 $906,310,000 $280,071
$Over $250k 142 $59,780,000 $420,986

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 14,066 $3,780,520,000 $268,770
Black 537 $140,845,000 $262,281
Asian 245 $73,585,000 $300,347
American Indian 147 $38,515,000 $262,007
Not provided 70 $19,740,000 $282,000
Native Hawaiian 55 $16,935,000 $307,909

Approval Rates

Total approvals of all applications
70.18%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
-14.69%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
2828.0 1 $105,000 $105,000
NA 15,119 $4,070,035,000 $269,200

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 2,878 $840,940,000 $292,196
$1k-2k 3,786 $910,750,000 $240,557
$2k-3k 2,370 $512,490,000 $216,241
$3k-4k 4,445 $1,198,475,000 $269,623
$5k+ 1,595 $595,255,000 $373,201

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Single Family (1-4 Units):Manufactured 269 $51,675,000 $192,100
Single Family (1-4 Units):Site-Built 14,851 $4,018,465,000 $270,585