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, Ocean City, and Atlantic 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 average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.

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Originations

37

Origination Dollar Volume (All Markets)

$15,425,000

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) 32 $13,560,000 $423,750 $0 0.00%
OCEAN CITY, NJ (FHA|USDA|VA) 3 $1,325,000 $441,667 $0 0.00%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $540,000 $270,000 $0 0.00%
Sharon Bank's top markets include Philadelphia, Ocean City, and Atlantic 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 37 $15,425,000 $416,892 $0 0.00%

    For 2019, Sharon Bank's most frequently originated type of loan was Conventional, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 19 $8,665,000 $456,053 $0 0.00%
    Refi 14 $6,290,000 $449,286 $0 0.00%
    Home Improvement 3 $85,000 $28,333 $0 0.00%
    Other 1 $385,000 $385,000 $0 0.00%

    For 2019, Sharon Bank's most frequently cited loan purpose was Home Purchase, with 19 originations. The 2nd most popular reason was Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 37 $15,425,000 $416,892 $0 0.00%

    For 2019, Sharon Bank's most frequently cited loan duration was Other, with 37 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 12 $3,750,000 $312,500 $0 0.00%
    $100,000 or less 9 $475,000 $52,778 $0 0.00%
    $600k-1MM 6 $4,420,000 $736,667 $0 0.00%
    $100k-200k 4 $610,000 $152,500 $0 0.00%
    $1MM+ 3 $4,745,000 $1,581,667 $0 0.00%
    $400k-600k 3 $1,425,000 $475,000 $0 0.00%

    2019 saw Sharon Bank place emphasis on $200k-400k loans with 12 originations, totaling $3,750,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 7 $3,625,000 $517,857 $0 0.00%
    $50k-75k 6 $1,310,000 $218,333 $0 0.00%
    $50k or less 4 $460,000 $115,000 $0 0.00%
    $100k-150k 3 $685,000 $228,333 $0 0.00%
    $250k+ 3 $1,265,000 $421,667 $0 0.00%
    $75k-100k 2 $400,000 $200,000 $0 0.00%

    Sharon Bank lent most frequently to those with incomes in the $150k-250k range, with 7 originations. The second most popular income band? $50k-75k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 37 $15,425,000 $416,892 $0 0.00%

    Sharon Bank lent most frequently to those with DTI ratios of Exempt%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 25 $7,745,000 $309,800 $0 0.00%
    Not applicable 12 $7,680,000 $640,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    82.35%

    Sharon Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    91.89%

    Sharon Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 37 $15,425,000 $416,892

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $6,445,000 $1,289,000
    Single Family (1-4 Units):Site-Built 32 $8,980,000 $280,625