Affordable Mortgage Advisors Rates, Fees & Info

Pittsburgh, PA

LEI: 549300DE8TS4EYTPX729

Tax ID: 20-1830388

5 stars - Updated: 7/14/24 - out of 5 stars, based on 30 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Affordable Mortgage Advisors is a smaller mortgage company specializing in Home Purchase loans. Affordable Mortgage Advisors has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Pittsburgh, Erie, Youngstown, Indiana, and Meadville among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)

Affordable Mortgage Advisors has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Affordable Mortgage Advisors is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.60% 7/14/24
30 Year Conventional Refi 6.40% 7/14/24
30 Year Cash-out Refi 6.78% 7/14/24
30 Year FHA Purchase 7.43% 7/14/24
30 Year VA Purchase 6.52% 7/14/24
30 Year USDA Purchase 6.88% 7/14/24
15 Year Conventional Purchase 6.21% 7/14/24
15 Year Conventional Refi 6.09% 7/14/24
15 Year Cash-out Refi 6.09% 7/14/24
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.

Affordable Mortgage Advisors Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Affordable Mortgage Advisors. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

872

Origination Dollar Volume (All Markets)

$210,540,000

Relative Rate

Affordable Mortgage Advisors's average 30 year fixed mortgage rate was 6.7%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.22%.

Relative Fees (Closing Costs)

Affordable Mortgage Advisors's average total fees/closing costs for a 30 year fixed rate mortgage were $5,906.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
PITTSBURGH, PA (FHA|USDA|VA) 672 $175,180,000 $260,685 $6,079 6.66%
ERIE, PA (FHA|USDA|VA) 74 $12,870,000 $173,919 $5,365 6.79%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 31 $4,815,000 $155,323 $5,140 6.88%
Indiana, PA (FHA|USDA|VA) 13 $1,895,000 $145,769 $4,779 6.78%
Outside of Metro Areas 8 $1,490,000 $186,250 $7,341 6.59%
Meadville, PA (FHA|USDA|VA) 11 $1,405,000 $127,727 $4,635 6.90%
New Castle, PA (FHA|USDA|VA) 8 $1,320,000 $165,000 $4,596 6.33%
ST. LOUIS, MO-IL (FHA|USDA|VA) 3 $1,085,000 $361,667 $4,888 6.46%
DuBois, PA (FHA|USDA|VA) 4 $1,080,000 $270,000 $10,087 6.97%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 4 $1,030,000 $257,500 $5,782 6.38%
Oil City, PA (FHA|USDA|VA) 7 $905,000 $129,286 $5,778 6.66%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $870,000 $435,000 $7,135 7.50%
JOHNSTOWN, PA (FHA|USDA|VA) 9 $865,000 $96,111 $4,531 6.46%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $495,000 $495,000 $4,984 6.63%
WHEELING, WV-OH (FHA|USDA|VA) 2 $480,000 $240,000 $4,226 7.06%
Somerset, PA (FHA|USDA|VA) 4 $480,000 $120,000 $4,768 7.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $395,000 $395,000 $13,871 5.63%
COLUMBUS, OH (FHA|USDA|VA) 1 $385,000 $385,000 $6,195 7.38%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $355,000 $355,000 $5,632 7.50%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $315,000 $315,000 $7,275 6.50%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $285,000 $285,000 $9,257 6.50%
GAINESVILLE, FL (FHA|USDA|VA) 1 $265,000 $265,000 $3,642 7.25%
Huntingdon, PA (FHA|USDA|VA) 1 $255,000 $255,000 $4,354 7.00%
Salem, OH (FHA|USDA|VA) 2 $240,000 $120,000 $6,634 7.00%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $235,000 $235,000 $4,460 7.00%
CUMBERLAND, MD-WV (FHA|USDA|VA) 1 $235,000 $235,000 $3,327 6.50%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $215,000 $215,000 $8,604 7.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $205,000 $205,000 $4,356 7.50%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 1 $205,000 $205,000 $5,058 7.25%
Warren, PA (FHA|USDA|VA) 1 $185,000 $185,000 $8,707 8.13%
ALTOONA, PA (FHA|USDA|VA) 1 $145,000 $145,000 $4,805 7.50%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $135,000 $135,000 $3,789 7.00%
St. Marys, PA (FHA|USDA|VA) 1 $125,000 $125,000 $4,170 5.75%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $95,000 $95,000 $8,490 5.63%
Affordable Mortgage Advisors's top markets include Pittsburgh, Erie, Youngstown, Indiana, and Meadville among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against AFFORDABLE MORTGAGE ADVISORS based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Widget Federal Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 754 $185,100,000 $245,491 $5,474 6.68%
    FHA 81 $15,765,000 $194,630 $8,654 6.75%
    VA 32 $9,220,000 $288,125 $10,077 6.79%
    USDA 5 $455,000 $91,000 $4,573 6.50%

    For 2023, Affordable Mortgage Advisors's most frequently originated type of loan was Conventional, with 754 originations. Their 2nd most popular type was FHA, with 81 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 852 $207,200,000 $243,192 $5,936 6.69%
    Cash Out Refi 16 $2,470,000 $154,375 $6,157 6.84%
    Refi 4 $870,000 $217,500 $4,900 6.53%

    For 2023, Affordable Mortgage Advisors's most frequently cited loan purpose was Home Purchase, with 852 originations. The 2nd most popular reason was Cash Out Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 854 $203,790,000 $238,630 $5,906 6.70%
    15 Year 13 $3,985,000 $306,538 $6,166 6.31%
    20 Year 2 $650,000 $325,000 $5,621 6.19%
    30+ year 2 $1,780,000 $890,000 $17,450 6.06%
    Other 1 $335,000 $335,000 $5,415 6.00%

    For 2023, Affordable Mortgage Advisors's most frequently cited loan duration was 30 Year, with 854 originations. The 2nd most popular length was 15 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 582 $132,610,000 $227,852
    $2k-3k 102 $21,790,000 $213,627
    $3k-4k 73 $19,305,000 $264,452
    $4k-5k 58 $14,880,000 $256,552
    $5k+ 54 $21,230,000 $393,148

    Affordable Mortgage Advisors's average total fees were $5,906, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 582 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 540 $130,260,000 $241,222
    7-8% 206 $52,240,000 $253,592
    5-6% 116 $24,960,000 $215,172
    Over 8% 10 $3,080,000 $308,000

    During 2023, Affordable Mortgage Advisors's average interest rate for loans was 6.70%, while their most frequently originated rate bucket for loans was 6-7%, with 540 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 354 $100,220,000 $283,107 $6,553 6.80%
    $100k-200k 331 $50,845,000 $153,610 $5,109 6.61%
    $100,000 or less 87 $6,655,000 $76,494 $3,978 6.55%
    $400k-600k 78 $35,920,000 $460,513 $7,890 6.70%
    $600k-1MM 19 $13,175,000 $693,421 $8,126 6.59%
    $1MM+ 3 $3,725,000 $1,241,667 $15,989 6.58%

    2023 saw Affordable Mortgage Advisors place emphasis on $200k-400k loans with 354 originations, totaling $100,220,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 206 $54,730,000 $265,680 $6,400 6.75%
    $50k-75k 183 $29,405,000 $160,683 $4,968 6.64%
    $150k-250k 182 $58,240,000 $320,000 $6,481 6.80%
    $75k-100k 152 $30,140,000 $198,289 $6,011 6.69%
    $50k or less 93 $10,575,000 $113,710 $4,623 6.43%
    $250k+ 56 $27,450,000 $490,179 $7,581 6.72%

    Affordable Mortgage Advisors lent most frequently to those with incomes in the $100k-150k range, with 206 originations. The second most popular income band? $50k-75k, with 183 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 196 $48,680,000 $248,367 $5,534 6.64%
    30-36% 170 $39,810,000 $234,176 $5,778 6.69%
    <20% 86 $21,890,000 $254,535 $5,536 6.63%
    39% 39 $9,215,000 $236,282 $5,999 6.74%
    38% 35 $8,155,000 $233,000 $5,391 6.56%
    46% 34 $7,540,000 $221,765 $6,808 6.61%
    37% 33 $8,005,000 $242,576 $5,857 6.68%
    50-60% 33 $7,705,000 $233,485 $7,924 6.80%
    42% 32 $8,080,000 $252,500 $5,934 6.88%
    36% 29 $7,415,000 $255,690 $6,189 6.62%
    48% 27 $7,275,000 $269,444 $7,662 6.61%
    40% 26 $7,180,000 $276,154 $7,489 6.58%
    47% 25 $5,915,000 $236,600 $6,089 6.90%
    41% 22 $5,090,000 $231,364 $5,870 6.95%
    45% 22 $4,840,000 $220,000 $5,803 6.66%
    44% 21 $4,635,000 $220,714 $4,962 6.81%
    49% 21 $4,415,000 $210,238 $5,227 6.61%
    43% 20 $4,460,000 $223,000 $5,648 6.86%
    >60% 1 $235,000 $235,000 $14,925 7.63%

    Affordable Mortgage Advisors lent most frequently to those with DTI ratios of 20-30%, with 196 originations. The next most common DTI ratio? 30-36%, with 170 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 754 $181,100,000 $240,186 $5,904 6.69%
    Not provided 61 $14,625,000 $239,754 $6,264 6.67%
    Asian 31 $9,885,000 $318,871 $6,209 6.72%
    Black 26 $4,930,000 $189,615 $5,772 6.56%

    Approval Rates

    Total approvals of all applications
    98.39%

    Affordable Mortgage Advisors has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    81.08%

    Affordable Mortgage Advisors has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    1678.31 1 $335,000 $335,000
    2008.18 1 $145,000 $145,000
    NA 870 $210,060,000 $241,448

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    872 $210,540,000 $241,445

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $2,240,000 $140,000 $4,374 6.56%
    40-60% 57 $12,155,000 $213,246 $4,848 6.52%
    60-80% 220 $56,380,000 $256,273 $6,089 6.76%
    80-100% 573 $138,145,000 $241,091 $5,949 6.68%
    Over 100% 5 $1,565,000 $313,000 $15,365 6.80%
    Under 20% 1 $55,000 $55,000 $4,443 6.50%