Code Mortgage Rates, Fees & Info
Dayton, OHLEI: 549300ASHFL5TJ8X1B89
Tax ID: 31-1225765
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Mortgage Data
Review & Overview
Code is a smaller mortgage company specializing in Other, Home Improvement, and Home Purchase loans. Code has a high proportion of conventional loans. Their top markets by origination volume include: Dayton, Cincinnati, Greenville, and Bellefontaine among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Code has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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 | 7.03% | 12/9/24 |
| 30 Year Conventional Refi | 6.48% | 12/9/24 |
| 30 Year VA Purchase | 6.27% | 12/9/24 |
| 15 Year Conventional Purchase | 6.57% | 12/9/24 |
| 15 Year Conventional Refi | 7.02% | 12/9/24 |
| 15 Year Cash-out Refi | 7.02% | 12/9/24 |
| 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. | ||
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Originations
96Origination Dollar Volume (All Markets)
$3,780,000Top 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 |
|---|---|---|---|---|---|
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 91 | $3,495,000 | $38,407 | $0 | 0.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 3 | $205,000 | $68,333 | $0 | 0.00% |
| Greenville, OH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| Bellefontaine, OH (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 93 | $3,495,000 | $37,581 | $0 | 0.00% |
| VA | 3 | $285,000 | $95,000 | $0 | 0.00% |
For 2018, Code's most frequently originated type of loan was Conventional, with 93 originations. Their 2nd most popular type was VA, with 3 originations.
Loan Reason
For 2018, Code's most frequently cited loan purpose was Other, with 36 originations. The 2nd most popular reason was Home Improvement, with 27 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 96 | $3,780,000 | $39,375 | $0 | 0.00% |
For 2018, Code's most frequently cited loan duration was Other, with 96 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 93 | $3,375,000 | $36,290 | $0 | 0.00% |
| $100k-200k | 3 | $405,000 | $135,000 | $0 | 0.00% |
2018 saw Code place emphasis on $100,000 or less loans with 93 originations, totaling $3,375,000 in origination value.
Applicant Income
Code lent most frequently to those with incomes in the $50k-75k range, with 30 originations. The second most popular income band? $75k-100k, with 24 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 96 | $3,780,000 | $39,375 | $0 | 0.00% |
Code lent most frequently to those with DTI ratios of Exempt%, with 96 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 74 | $3,080,000 | $41,622 | $0 | 0.00% |
| Black | 19 | $575,000 | $30,263 | $0 | 0.00% |
| Not provided | 3 | $125,000 | $41,667 | $0 | 0.00% |
Approval Rates
Total approvals of all applications84.21%
Code has a below average approval rate.
Pick Rate
Approvals leading to origination53.13%
Code has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 96 | $3,780,000 | $39,375 |