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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Tam Lending Center Inc is a smaller mortgage company specializing in Home Purchase and Refi loans. Tam Lending Center Inc has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Philadelphia, New York, Vineland, Atlantic City, and Ocean City among others. We have data for 18 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.

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    Originations

    470

    Origination Dollar Volume (All Markets)

    $105,810,000

    Awards

    TAM Lending Center Inc 30 Year Conventional Loans silver
    Show all (1) awards

    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) 293 $63,945,000 $218,242 $7,162 3.41%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 39 $11,675,000 $299,359 $6,912 3.15%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 52 $8,790,000 $169,038 $7,117 3.66%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 35 $8,375,000 $239,286 $8,106 3.49%
    OCEAN CITY, NJ (FHA|USDA|VA) 10 $3,070,000 $307,000 $7,005 2.95%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $1,665,000 $555,000 $24,701 2.92%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 8 $1,590,000 $198,750 $6,896 3.19%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $1,425,000 $285,000 $9,146 3.28%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 6 $1,120,000 $186,667 $6,420 3.58%
    Outside of Metro Areas 5 $965,000 $193,000 $8,488 4.08%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $795,000 $265,000 $7,348 4.08%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2 $650,000 $325,000 $16,428 2.94%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 3 $595,000 $198,333 $6,345 2.96%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $340,000 $170,000 $8,287 2.81%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $235,000 $235,000 $7,670 2.75%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $225,000 $225,000 $7,612 3.50%
    DOVER, DE (FHA|USDA|VA) 1 $185,000 $185,000 $10,307 3.50%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $165,000 $165,000 $3,996 2.75%
    Tam Lending Center Inc's top markets include Philadelphia, New York, Vineland, Atlantic City, and Ocean City among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • California (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.

    The First National Bank of Long Island
    Similarity Rank: 134
    North Jersey Federal Credit Union
    Similarity Rank: 247
    N C P D Federal Credit Union
    Similarity Rank: 482
    MOUNTAIN MORTGAGE CORP.
    Similarity Rank: 538
    First Citizens Community Bank
    Similarity Rank: 589
    BHCU
    Similarity Rank: 625
    Prudential Bank
    Similarity Rank: 640
    TEG Federal Credit Union
    Similarity Rank: 715
    Hanover Community Bank
    Similarity Rank: 727
    Roselle Bank
    Similarity Rank: 796

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 267 $62,785,000 $235,150 $5,601 3.33%
    FHA 189 $39,695,000 $210,026 $9,797 3.51%
    VA 13 $3,185,000 $245,000 $7,687 3.63%
    USDA 1 $145,000 $145,000 $7,240 3.00%

    For 2020, Tam Lending Center Inc's most frequently originated type of loan was Conventional, with 267 originations. Their 2nd most popular type was FHA, with 189 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 274 $60,450,000 $220,620 $8,238 3.50%
    Refi 118 $27,560,000 $233,559 $5,681 3.10%
    Cash Out Refi 58 $13,670,000 $235,690 $6,876 3.36%
    Home Improvement 20 $4,130,000 $206,500 $7,313 4.06%

    For 2020, Tam Lending Center Inc's most frequently cited loan purpose was Home Purchase, with 274 originations. The 2nd most popular reason was Refi, with 118 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 416 $93,670,000 $225,168 $7,655 3.47%
    15 Year 31 $6,835,000 $220,484 $5,426 2.83%
    20 Year 16 $3,660,000 $228,750 $4,797 3.02%
    Other 6 $1,490,000 $248,333 $5,896 3.17%
    10 Year 1 $155,000 $155,000 $6,046 3.50%

    For 2020, Tam Lending Center Inc's most frequently cited loan duration was 30 Year, with 416 originations. The 2nd most popular length was 15 Year, with 31 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 164 $37,710,000 $229,939
    $3k-4k 87 $16,965,000 $195,000
    $5k+ 67 $20,045,000 $299,179
    $2k-3k 66 $11,940,000 $180,909
    $4k-5k 54 $11,790,000 $218,333
    $<1k 24 $6,430,000 $267,917

    Tam Lending Center Inc's average total fees were $7,655, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 164 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 212 $47,600,000 $224,528
    2.5-3% 168 $41,030,000 $244,226
    4-5% 58 $10,790,000 $186,034
    <2.5% 21 $5,075,000 $241,667
    5-6% 11 $1,315,000 $119,545

    During 2020, Tam Lending Center Inc's average interest rate for loans was 3.47%, while their most frequently originated rate bucket for loans was 3-4%, with 212 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 217 $58,095,000 $267,719 $7,887 3.27%
    $100k-200k 203 $32,005,000 $157,660 $6,507 3.50%
    $400k-600k 24 $10,910,000 $454,583 $9,040 3.12%
    $100,000 or less 22 $1,960,000 $89,091 $6,034 4.31%
    $600k-1MM 4 $2,840,000 $710,000 $19,410 2.84%

    2020 saw Tam Lending Center Inc place emphasis on $200k-400k loans with 217 originations, totaling $58,095,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 124 $22,670,000 $182,823 $7,491 3.50%
    $100k-150k 106 $27,030,000 $255,000 $7,165 3.36%
    $75k-100k 93 $21,995,000 $236,505 $7,797 3.41%
    $50k or less 75 $11,175,000 $149,000 $6,822 3.46%
    $150k-250k 59 $17,595,000 $298,220 $6,902 3.32%
    $250k+ 13 $5,345,000 $411,154 $10,446 3.03%

    Tam Lending Center Inc lent most frequently to those with incomes in the $50k-75k range, with 124 originations. The second most popular income band? $100k-150k, with 106 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 85 $20,235,000 $238,059 $7,394 3.38%
    20-30% 68 $15,680,000 $230,588 $5,605 3.29%
    50-60% 64 $13,040,000 $203,750 $9,238 3.46%
    44% 24 $4,790,000 $199,583 $6,872 3.67%
    42% 23 $4,985,000 $216,739 $7,852 3.29%
    46% 20 $3,700,000 $185,000 $7,163 3.49%
    40% 19 $3,295,000 $173,421 $7,103 3.37%
    41% 19 $4,935,000 $259,737 $8,477 3.43%
    43% 17 $4,605,000 $270,882 $6,741 3.46%
    49% 17 $3,825,000 $225,000 $8,027 3.29%
    <20% 15 $4,005,000 $267,000 $7,613 3.28%
    48% 15 $3,985,000 $265,667 $7,415 3.24%
    39% 14 $2,990,000 $213,571 $7,803 3.48%
    38% 14 $3,120,000 $222,857 $7,901 3.48%
    37% 14 $3,320,000 $237,143 $6,191 3.14%
    36% 14 $3,420,000 $244,286 $7,040 3.73%
    45% 13 $2,635,000 $202,692 $6,710 3.40%
    47% 8 $1,890,000 $236,250 $8,111 3.50%
    >60% 6 $1,040,000 $173,333 $6,852 4.06%

    Tam Lending Center Inc lent most frequently to those with DTI ratios of 30-36%, with 85 originations. The next most common DTI ratio? 20-30%, with 68 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 363 $80,555,000 $221,915 $6,790 3.34%
    Black 94 $22,750,000 $242,021 $9,747 3.60%
    Asian 4 $780,000 $195,000 $8,698 3.97%
    Native Hawaiian or Islander 3 $605,000 $201,667 $6,054 4.46%
    Not provided 2 $440,000 $220,000 $4,293 2.81%
    American Indian 2 $320,000 $160,000 $3,700 4.38%
    Other Pacific Islander 1 $265,000 $265,000 $11,699 3.00%
    Asian Indian 1 $95,000 $95,000 $7,985 3.88%

    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 470 $105,810,000 $225,128

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 470 $105,810,000 $225,128

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $1,200,000 $150,000 $4,767 3.13%
    40-60% 24 $5,410,000 $225,417 $4,892 3.05%
    60-80% 129 $30,835,000 $239,031 $6,080 3.28%
    80-100% 303 $67,485,000 $222,723 $8,134 3.48%
    Over 100% 6 $880,000 $146,667 $9,627 4.25%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    The Home Loan Expert LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    The Home Loan Expert LLC VA mortgage Problem with fraud alerts or security freezes 1 50.0%