Sharon Bank Mortgage Rates, Fees & Info

Darby, PA

LEI: 549300B7GCPQ437Y5E78

Tax ID: 23-1075613

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Mortgage Data

Review & Overview

Sharon Bank is a smaller bank specializing in Home Purchase and Refi loans. Sharon Bank has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Atlantic City, and Ocean City among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

Sharon Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

79

Origination Dollar Volume (All Markets)

$20,035,000

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
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 73 $18,735,000 $256,644 $0 0.00%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $720,000 $360,000 $0 0.00%
OCEAN CITY, NJ (FHA|USDA|VA) 4 $580,000 $145,000 $0 0.00%
Sharon Bank's top markets include Philadelphia, Atlantic City, and Ocean City among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 79 $20,035,000 $253,608 $0 0.00%

    For 2018, Sharon Bank's most frequently originated type of loan was Conventional, with 79 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 36 $10,510,000 $291,944 $0 0.00%
    Refi 29 $8,105,000 $279,483 $0 0.00%
    Home Improvement 10 $1,290,000 $129,000 $0 0.00%
    Other 4 $130,000 $32,500 $0 0.00%

    For 2018, Sharon Bank's most frequently cited loan purpose was Home Purchase, with 36 originations. The 2nd most popular reason was Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 79 $20,035,000 $253,608 $0 0.00%

    For 2018, Sharon Bank's most frequently cited loan duration was Other, with 79 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 22 $1,210,000 $55,000 $0 0.00%
    $100k-200k 22 $3,180,000 $144,545 $0 0.00%
    $200k-400k 20 $5,550,000 $277,500 $0 0.00%
    $400k-600k 8 $4,370,000 $546,250 $0 0.00%
    $600k-1MM 6 $4,580,000 $763,333 $0 0.00%
    $1MM+ 1 $1,145,000 $1,145,000 $0 0.00%

    2018 saw Sharon Bank place emphasis on $100,000 or less loans with 22 originations, totaling $1,210,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 21 $2,865,000 $136,429 $0 0.00%
    $100k-150k 10 $2,330,000 $233,000 $0 0.00%
    $75k-100k 10 $2,240,000 $224,000 $0 0.00%
    $50k-75k 9 $1,035,000 $115,000 $0 0.00%
    $150k-250k 7 $2,745,000 $392,143 $0 0.00%
    $250k+ 4 $1,830,000 $457,500 $0 0.00%

    Sharon Bank lent most frequently to those with incomes in the $50k or less range, with 21 originations. The second most popular income band? $100k-150k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 79 $20,035,000 $253,608 $0 0.00%

    Sharon Bank lent most frequently to those with DTI ratios of Exempt%, with 79 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 56 $12,160,000 $217,143 $0 0.00%
    Not applicable 17 $6,865,000 $403,824 $0 0.00%
    Not provided 1 $595,000 $595,000 $0 0.00%
    Asian 3 $215,000 $71,667 $0 0.00%
    Black 2 $200,000 $100,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.40%

    Sharon Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    94.94%

    Sharon Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 79 $20,035,000 $253,608

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $1,730,000 $865,000
    Multifamily:Site-Built 5 $2,325,000 $465,000
    Single Family (1-4 Units):Site-Built 72 $15,980,000 $221,944