Fairway Consumer Discount Company Mortgage Rates, Fees & Info
Luzerne, PALEI: 549300B5Q1Q3J5NC8121
Tax ID: 24-0831867
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Mortgage Data
Review & Overview
Fairway Consumer Discount Company is a smaller mortgage company specializing in Cash Out Refi and NA loans. Fairway Consumer Discount Company has a high proportion of conventional loans. Their top markets by origination volume include: Scranton, Williamsport, Allentown, Sayre, and Philadelphia among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Fairway Consumer Discount Company 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Purchase | 6.00% | 4/5/25 |
| 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. | ||
Fairway Consumer Discount Company Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
40Origination Dollar Volume (All Markets)
$2,950,000Top 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 |
|---|---|---|---|---|---|
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 29 | $1,615,000 | $55,690 | $3,334 | 12.19% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 9.99% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $0 | 12.16% |
| Outside of Metro Areas | 2 | $170,000 | $85,000 | $4,743 | 10.99% |
| Sayre, PA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $5,122 | 10.99% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $4,339 | 10.99% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,380 | 10.99% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $3,492 | 12.14% |
| Sunbury, PA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 13.99% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 40 | $2,950,000 | $73,750 | $3,549 | 12.03% |
For 2024, Fairway Consumer Discount Company's most frequently originated type of loan was Conventional, with 40 originations.
Loan Reason
For 2024, Fairway Consumer Discount Company's most frequently cited loan purpose was Cash Out Refi, with 26 originations. The 2nd most popular reason was NA, with 7 originations.
Loan Duration/Length
For 2024, Fairway Consumer Discount Company's most frequently cited loan duration was 20 Year, with 24 originations. The 2nd most popular length was 10 Year, with 8 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 10 | $290,000 | $29,000 |
| $2k-3k | 9 | $525,000 | $58,333 |
| $3k-4k | 6 | $650,000 | $108,333 |
| $<1k | 2 | $110,000 | $55,000 |
Fairway Consumer Discount Company's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 10 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 40 | $2,950,000 | $73,750 |
During 2024, Fairway Consumer Discount Company's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 40 originations.
Loan Sizing
2024 saw Fairway Consumer Discount Company place emphasis on $100,000 or less loans with 33 originations, totaling $1,645,000 in origination value.
Applicant Income
Fairway Consumer Discount Company lent most frequently to those with incomes in the $50k-75k range, with 12 originations. The second most popular income band? $50k or less, with 10 originations.
Applicant Debt to Income Ratio
Fairway Consumer Discount Company lent most frequently to those with DTI ratios of 20-30%, with 15 originations. The next most common DTI ratio? <20%, with 11 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.25%
Fairway Consumer Discount Company has an average approval rate.
Pick Rate
Approvals leading to origination32.50%
Fairway Consumer Discount Company 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 |
|---|---|---|---|
| NA | 40 | $2,950,000 | $73,750 |