Tam Lending Center Inc Mortgage Rates, Fees & Info

Cherry Hill, NJ

LEI: 549300FL0K3UVG1WAY05

Tax ID: 46-1046733

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

Review & Overview

Tam Lending Center Inc is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Tam Lending Center Inc has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, New York, Atlantic City, Vineland, and Miami among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Tam Lending Center Inc has an above average approval rate when compared to the average across all lenders. Tam Lending Center Inc 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 about average 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.

Originations

355

Origination Dollar Volume (All Markets)

$71,955,000

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)	223	$41,855,000	$187,691	$6,879	5.06%
New York-Newark-Jersey City, NY-NJ-PA (FHA\|USDA\|VA)	67	$18,815,000	$280,821	$8,996	4.75%
ATLANTIC CITY-HAMMONTON, NJ (FHA\|USDA\|VA)	19	$3,195,000	$168,158	$6,882	5.15%
VINELAND-BRIDGETON, NJ (FHA\|USDA\|VA)	18	$2,690,000	$149,444	$6,178	5.18%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	3	$965,000	$321,667	$7,717	5.21%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA\|USDA\|VA)	5	$805,000	$161,000	$8,024	4.95%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA\|USDA\|VA)	4	$670,000	$167,500	$7,552	5.38%
SALISBURY, MD-DE (FHA\|USDA\|VA)	3	$625,000	$208,333	$6,366	5.04%
EAST STROUDSBURG, PA (FHA\|USDA\|VA)	3	$535,000	$178,333	$6,152	5.29%
OCEAN CITY, NJ (FHA\|USDA\|VA)	2	$390,000	$195,000	$5,087	5.44%
TRENTON-PRINCETON, NJ (FHA\|USDA\|VA)	2	$380,000	$190,000	$5,467	5.06%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	1	$365,000	$365,000	$6,160	4.75%
Outside of Metro Areas	2	$310,000	$155,000	$4,529	5.38%
LEBANON, PA (FHA\|USDA\|VA)	1	$175,000	$175,000	$6,767	5.63%
READING, PA (FHA\|USDA\|VA)	1	$115,000	$115,000	$4,416	5.75%
LAKELAND-WINTER HAVEN, FL (FHA\|USDA\|VA)	1	$65,000	$65,000	$5,616	4.63%

Tam Lending Center Inc's top markets include Philadelphia, New York, Atlantic City, Vineland, and Miami among others.

Their top states include:

New Jersey (FHA|USDA|VA)

Pennsylvania (FHA|USDA|VA)

Delaware (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Maryland (FHA|USDA|VA)

Similar Lenders

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

N C P D Federal Credit Union
Similarity Rank: 55

Bogota Savings Bank
Similarity Rank: 63

Iron Workers Savings Bank
Similarity Rank: 63

Union County Savings Bank
Similarity Rank: 66

GARDEN SAVINGS FEDERAL CREDIT UNION
Similarity Rank: 80

Haddon Savings Bank
Similarity Rank: 116

The Atlantic Federal Credit Union
Similarity Rank: 120

Freehold Savings Bank
Similarity Rank: 120

Blue Foundry Bank
Similarity Rank: 125

FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
Similarity Rank: 126

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
FHA	205	$41,835,000	$204,073	$8,503	4.93%
Conventional	149	$29,905,000	$200,705	$5,416	5.16%
VA	1	$215,000	$215,000	$11,377	5.00%

For 2018, Tam Lending Center Inc's most frequently originated type of loan was FHA, with 205 originations. Their 2nd most popular type was Conventional, with 149 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	311	$63,825,000	$205,225	$7,281	5.02%
Cash Out Refi	22	$3,830,000	$174,091	$7,096	5.02%
Refi	21	$4,095,000	$195,000	$6,409	5.07%
Home Improvement	1	$205,000	$205,000	$8,284	6.25%

For 2018, Tam Lending Center Inc's most frequently cited loan purpose was Home Purchase, with 311 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	348	$70,950,000	$203,879	$7,259	5.03%
15 Year	6	$900,000	$150,000	$5,540	4.73%
20 Year	1	$105,000	$105,000	$3,867	5.25%

For 2018, Tam Lending Center Inc's most frequently cited loan duration was 30 Year, with 348 originations. The 2nd most popular length was 15 Year, with 6 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	187	$40,465,000	$216,390
$2k-3k	60	$9,640,000	$160,667
$3k-4k	45	$7,455,000	$165,667
$4k-5k	30	$6,460,000	$215,333
$5k+	25	$6,655,000	$266,200
$<1k	7	$1,185,000	$169,286

Tam Lending Center Inc's average total fees were $7,259, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 187 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	194	$42,750,000	$220,361
5-6%	148	$26,640,000	$180,000
3-4%	10	$2,040,000	$204,000
6-7%	3	$525,000	$175,000

During 2018, Tam Lending Center Inc's average interest rate for loans was 5.03%, while their most frequently originated rate bucket for loans was 4-5%, with 194 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	167	$25,165,000	$150,689	$6,455	5.04%
$200k-400k	140	$37,220,000	$265,857	$8,311	4.94%
$100,000 or less	33	$2,595,000	$78,636	$5,120	5.36%
$400k-600k	14	$6,340,000	$452,857	$9,575	4.85%
$600k-1MM	1	$635,000	$635,000	$16,677	4.63%

2018 saw Tam Lending Center Inc place emphasis on $100k-200k loans with 167 originations, totaling $25,165,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	116	$21,310,000	$183,707	$7,358	4.99%
$75k-100k	86	$19,150,000	$222,674	$7,449	5.05%
$50k or less	76	$9,750,000	$128,289	$6,413	5.05%
$100k-150k	53	$14,145,000	$266,887	$7,728	4.98%
$150k-250k	19	$5,645,000	$297,105	$7,004	5.09%
$250k+	5	$1,955,000	$391,000	$7,650	4.98%

Tam Lending Center Inc lent most frequently to those with incomes in the $50k-75k range, with 116 originations. The second most popular income band? $75k-100k, with 86 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
50-60%	75	$16,305,000	$217,400	$8,706	4.90%
30-36%	37	$7,345,000	$198,514	$6,864	4.94%
20-30%	24	$5,070,000	$211,250	$5,827	5.13%
43%	19	$3,655,000	$192,368	$6,017	4.99%
40%	19	$3,775,000	$198,684	$6,992	5.20%
45%	18	$3,990,000	$221,667	$6,295	5.17%
48%	16	$3,650,000	$228,125	$6,788	4.98%
42%	15	$3,115,000	$207,667	$7,439	4.97%
46%	15	$3,235,000	$215,667	$7,895	5.13%
41%	15	$2,825,000	$188,333	$7,712	5.25%
<20%	14	$2,260,000	$161,429	$6,169	5.04%
47%	14	$2,640,000	$188,571	$7,365	5.03%
49%	13	$2,155,000	$165,769	$6,903	5.16%
38%	12	$1,820,000	$151,667	$6,493	5.11%
44%	11	$2,815,000	$255,909	$6,400	4.78%
39%	11	$2,545,000	$231,364	$7,651	4.85%
37%	10	$1,760,000	$176,000	$6,155	5.04%
>60%	10	$1,890,000	$189,000	$8,217	5.11%
36%	7	$1,105,000	$157,857	$6,691	5.21%

Tam Lending Center Inc lent most frequently to those with DTI ratios of 50-60%, with 75 originations. The next most common DTI ratio? 30-36%, with 37 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	259	$53,285,000	$205,734	$7,075	5.01%
Black	77	$14,915,000	$193,701	$7,809	5.05%
Asian	17	$3,335,000	$196,176	$6,752	5.04%
Asian Indian	1	$255,000	$255,000	$11,462	5.63%
American Indian	1	$165,000	$165,000	$3,169	4.63%

Approval Rates

Total approvals of all applications
100.00%

Tam Lending Center Inc 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

Points and Fees

Points	Originations	Total Value	Average Loan
NA	355	$71,955,000	$202,690

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	355	$71,955,000	$202,690

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	2	$180,000	$90,000	$5,355	4.69%
40-60%	10	$1,660,000	$166,000	$5,300	5.09%
60-80%	77	$15,315,000	$198,896	$6,195	5.12%
80-100%	258	$53,310,000	$206,628	$7,562	4.98%
Over 100%	8	$1,490,000	$186,250	$8,822	5.39%