Affordable Mortgage Advisors . Rates, Fees & Info

Pittsburgh, PA

LEI: 549300DE8TS4EYTPX729

Tax ID: 20-1830388

5 stars - out of 5 stars, based on 45 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Affordable Mortgage Advisors . is a smaller mortgage company specializing in Home Purchase and Refi 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 include Pittsburgh, Erie, Somerset, Youngstown, and New Castle among others. Affordable Mortgage Advisors . has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Affordable Mortgage Advisors . is typically an average fee lendor.


Originations

2,017

Origination Dollar Volume (All Markets)

$475,725,000

Awards

AFFORDABLE MORTGAGE ADVISORS . 30 Year Conventional Loans bronze AFFORDABLE MORTGAGE ADVISORS . FHA Loans bronze
Show all (2) awards

Relative Rate

Affordable Mortgage Advisors .'s average 30 year fixed rate mortgage of loans were 3%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.15%.

Relative Fees

Affordable Mortgage Advisors .'s average total fees for a 30 year fixed rate mortgage are $4,787.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
PITTSBURGH, PA (FHA|USDA|VA) 1,636 $407,980,000 $249,377 $4,649 2.91%
ERIE, PA (FHA|USDA|VA) 211 $34,055,000 $161,398 $4,327 2.97%
Somerset, PA (FHA|USDA|VA) 34 $7,600,000 $223,529 $4,722 2.92%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 30 $5,220,000 $174,000 $4,873 3.08%
New Castle, PA (FHA|USDA|VA) 28 $4,600,000 $164,286 $4,625 3.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 12 $4,130,000 $344,167 $5,684 2.75%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 12 $2,490,000 $207,500 $4,858 2.81%
Meadville, PA (FHA|USDA|VA) 12 $1,510,000 $125,833 $4,504 3.23%
Indiana, PA (FHA|USDA|VA) 9 $1,325,000 $147,222 $4,446 3.13%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 3 $825,000 $275,000 $4,231 2.83%
STATE COLLEGE, PA (FHA|USDA|VA) 3 $765,000 $255,000 $3,876 3.00%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 3 $565,000 $188,333 $4,212 3.25%
YORK-HANOVER, PA (FHA|USDA|VA) 2 $510,000 $255,000 $5,415 2.69%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $505,000 $505,000 $6,280 2.25%
Warren, PA (FHA|USDA|VA) 3 $495,000 $165,000 $5,018 2.88%
READING, PA (FHA|USDA|VA) 2 $450,000 $225,000 $4,147 2.56%
JOHNSTOWN, PA (FHA|USDA|VA) 3 $415,000 $138,333 $3,701 2.92%
Outside of Metro Areas 3 $365,000 $121,667 $3,935 3.13%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $355,000 $355,000 $6,308 3.00%
LANCASTER, PA (FHA|USDA|VA) 1 $295,000 $295,000 $3,914 3.00%
DuBois, PA (FHA|USDA|VA) 2 $290,000 $145,000 $4,091 3.75%
ALTOONA, PA (FHA|USDA|VA) 1 $245,000 $245,000 $7,218 3.00%
LEBANON, PA (FHA|USDA|VA) 1 $235,000 $235,000 $3,533 2.88%
Ashtabula, OH (FHA|USDA|VA) 1 $165,000 $165,000 $3,610 3.13%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $135,000 $135,000 $2,997 3.50%
St. Marys, PA (FHA|USDA|VA) 1 $125,000 $125,000 $3,640 2.63%
Oil City, PA (FHA|USDA|VA) 1 $75,000 $75,000 $3,391 3.13%

Affordable Mortgage Advisors .'s top markets include Pittsburgh, Erie, Somerset, Youngstown, and New Castle among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,792 $430,810,000 $240,407 $4,321 2.94%
FHA 148 $24,490,000 $165,473 $6,853 2.85%
VA 62 $18,420,000 $297,097 $7,882 2.72%
USDA 15 $2,005,000 $133,667 $4,911 2.99%

For the 2021 period, Affordable Mortgage Advisors .'s most frequently originated loan type of loans were Conventional, with 1,792 originations. Their 2nd most popular type is FHA, with 148 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,323 $311,125,000 $235,166 $4,942 2.99%
Refi 439 $104,565,000 $238,189 $3,900 2.70%
Cash Out Refi 255 $60,035,000 $235,431 $4,188 2.94%

For the 2021, Affordable Mortgage Advisors .'s most frequently cited loan purpose of loans were Home Purchase, with 1,323 originations. The 2nd most popular reason of loans were Refi, with 439 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,630 $390,750,000 $239,724 $4,787 3.00%
15 Year 211 $44,265,000 $209,787 $3,877 2.48%
20 Year 85 $21,325,000 $250,882 $4,043 2.74%
Other 76 $15,770,000 $207,500 $3,885 2.87%
10 Year 15 $3,615,000 $241,000 $3,835 2.29%

For the 2021, Affordable Mortgage Advisors .'s most frequently cited loan length of loans were 30 Year, with 1,630 originations. The 2nd most popular length of loans were 15 Year, with 211 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,865 $434,395,000 $232,920
$2k-3k 88 $23,080,000 $262,273
$3k-4k 48 $12,760,000 $265,833
$5k+ 11 $4,375,000 $397,727

$4,787 of loans were Affordable Mortgage Advisors .'s average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,865 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 1,116 $273,410,000 $244,991
3-4% 613 $128,965,000 $210,383
<2.5% 275 $71,465,000 $259,873
4-5% 12 $1,760,000 $146,667

During 2021, Affordable Mortgage Advisors .'s average interest rate of loans were 3.00%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,116 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 861 $243,075,000 $282,317 $4,942 2.89%
$100k-200k 778 $116,120,000 $149,254 $4,068 2.98%
$100,000 or less 178 $14,150,000 $79,494 $3,618 3.02%
$400k-600k 177 $85,085,000 $480,706 $5,941 2.79%
$600k-1MM 19 $13,115,000 $690,263 $8,677 2.87%
$1MM+ 4 $4,180,000 $1,045,000 $8,536 3.13%

2021 saw Affordable Mortgage Advisors . place emphasis on $200k-400k loans with 861 originations, totaling $243,075,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 496 $130,320,000 $262,742 $4,717 2.92%
$50k-75k 413 $69,095,000 $167,300 $4,340 2.96%
$75k-100k 355 $77,145,000 $217,310 $4,694 2.92%
$150k-250k 329 $107,115,000 $325,578 $4,808 2.86%
$50k or less 290 $38,910,000 $134,172 $4,234 2.96%
$250k+ 134 $53,140,000 $396,567 $5,300 2.90%

Affordable Mortgage Advisors . lent most frequently to those with incomes in the $100k-150k range, with 496 originations. The second most popular income band? $50k-75k, with 413 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 588 $142,530,000 $242,398 $4,405 2.90%
30-36% 408 $100,310,000 $245,858 $4,711 2.92%
<20% 244 $54,430,000 $223,074 $4,126 2.84%
36% 83 $18,355,000 $221,145 $4,706 2.95%
39% 68 $15,570,000 $228,971 $5,098 2.94%
44% 65 $15,205,000 $233,923 $5,156 3.05%
37% 65 $14,965,000 $230,231 $4,450 2.95%
38% 64 $15,840,000 $247,500 $4,532 2.99%
40% 63 $13,535,000 $214,841 $4,665 2.97%
42% 59 $12,735,000 $215,847 $5,072 3.06%
41% 57 $13,295,000 $233,246 $4,590 3.03%
43% 54 $12,340,000 $228,519 $4,908 3.03%
48% 41 $8,865,000 $216,220 $5,246 2.86%
47% 37 $9,205,000 $248,784 $5,040 2.97%
46% 36 $8,230,000 $228,611 $4,873 2.97%
49% 32 $7,390,000 $230,938 $5,414 2.98%
45% 31 $6,555,000 $211,452 $5,005 2.94%
>60% 12 $3,840,000 $320,000 $5,658 2.60%
50-60% 7 $1,325,000 $189,286 $5,310 2.75%

Affordable Mortgage Advisors . lent most frequently to those with DTI ratios of 20-30%, with 588 originations. The next most common DTI ratio? 30-36%, with 408 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,805 $426,275,000 $236,163 $4,612 2.92%
Not provided 124 $29,090,000 $234,597 $4,488 3.01%
Asian 50 $13,120,000 $262,400 $4,940 2.84%
Black 32 $6,160,000 $192,500 $5,053 2.93%
Other Asian 4 $780,000 $195,000 $4,365 2.81%
American Indian 2 $300,000 $150,000 $5,025 2.75%

Approval Rates

Total approvals of all applications
98.71%

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
86.14%

Affordable Mortgage Advisors . has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 2,017 $475,725,000 $235,858

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,017 $475,725,000 $235,858

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 38 $6,730,000 $177,105 $3,852 2.66%
40-60% 200 $43,260,000 $216,300 $3,785 2.70%
60-80% 701 $171,515,000 $244,672 $4,292 2.93%
80-100% 1,061 $249,225,000 $234,896 $4,901 2.97%
Over 100% 15 $4,855,000 $323,667 $13,317 2.73%
Under 20% 2 $140,000 $70,000 $3,017 2.63%