Polish National Mortgage Rates, Fees & InfoChicopee, MA
Tax ID: 04-1734980
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
Review & OverviewPolish National is a smaller mortgage company specializing in Cash Out Refi, Refi, and Home Purchase loans. Polish National has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Hartford, Worcester, Providence, and Boston among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)
Polish National 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. Polish National 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.36%||3/19/23|
|30 Year Conventional Refi||6.43%||3/19/23|
|30 Year Cash-out Refi||6.46%||3/19/23|
|15 Year Conventional Purchase||6.12%||3/19/23|
|15 Year Conventional Refi||6.03%||3/19/23|
|15 Year Cash-out Refi||6.03%||3/19/23|
|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.|
Origination Dollar Volume (All Markets)$179,580,000
Polish National's average 30 year fixed mortgage rate was
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.18%.
Relative Fees (Closing Costs)
Polish National's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,223.
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 $4,750.
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|
|SPRINGFIELD, MA (FHA|USDA|VA)||867||$161,605,000||$186,396||$2,350||2.96%|
|HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA)||28||$7,370,000||$263,214||$2,595||3.11%|
|WORCESTER, MA-CT (FHA|USDA|VA)||7||$3,395,000||$485,000||$3,115||3.07%|
|PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA)||4||$2,950,000||$737,500||$4,681||3.28%|
|Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA)||3||$1,685,000||$561,667||$3,910||2.92%|
|PITTSFIELD, MA (FHA|USDA|VA)||7||$1,395,000||$199,286||$2,781||2.98%|
|Keene, NH (FHA|USDA|VA)||2||$650,000||$325,000||$2,910||2.94%|
|BARNSTABLE TOWN, MA (FHA|USDA|VA)||2||$530,000||$265,000||$2,971||2.63%|
Their top states include:
We use machine learning to identify the top lenders compared against POLISH NATIONAL based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, Polish National's most frequently originated type of loan was Conventional, with 920 originations.
For 2021, Polish National's most frequently cited loan purpose was Cash Out Refi, with 314 originations. The 2nd most popular reason was Refi, with 285 originations.
For 2021, Polish National's most frequently cited loan duration was 30 Year, with 332 originations. The 2nd most popular length was 20 Year, with 205 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Polish National's average total fees were $3,223, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 797 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2021, Polish National's average interest rate for loans was 2.97%, while their most frequently originated rate bucket for loans was 2.5-3%, with 421 originations.
2021 saw Polish National place emphasis on $200k-400k loans with 348 originations, totaling $92,470,000 in origination value.
Polish National lent most frequently to those with incomes in the $100k-150k range, with 246 originations. The second most popular income band? $50k-75k, with 197 originations.
Applicant Debt to Income Ratio
Polish National lent most frequently to those with DTI ratios of 20-30%, with 247 originations. The next most common DTI ratio? 30-36%, with 173 originations.
Approval RatesTotal approvals of all applications
Polish National has an average approval rate.
Pick RateApprovals leading to origination
Polish National has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2021 CPFB Complaints||% of Total Issues|
|PLAZA HOME MORTGAGE, INC.||Conventional home mortgage||Struggling to pay mortgage||1||2.9%|
|PLAZA HOME MORTGAGE, INC.||Conventional home mortgage||Trouble during payment process||19||54.3%|
|PLAZA HOME MORTGAGE, INC.||FHA mortgage||Closing on a mortgage||1||2.9%|
|PLAZA HOME MORTGAGE, INC.||FHA mortgage||Struggling to pay mortgage||2||5.7%|
|PLAZA HOME MORTGAGE, INC.||FHA mortgage||Trouble during payment process||4||11.4%|
|PLAZA HOME MORTGAGE, INC.||Other type of mortgage||Applying for a mortgage or refinancing an existing mortgage||1||2.9%|
|PLAZA HOME MORTGAGE, INC.||Other type of mortgage||Struggling to pay mortgage||2||5.7%|
|PLAZA HOME MORTGAGE, INC.||VA mortgage||Incorrect information on your report||1||2.9%|
|PLAZA HOME MORTGAGE, INC.||VA mortgage||Struggling to pay mortgage||2||5.7%|
|PLAZA HOME MORTGAGE, INC.||VA mortgage||Trouble during payment process||2||5.7%|