Hershey Mortgage Rates, Fees & Info
Hummelstown, PALEI: 549300FVHSR5J0LNLQ61
Tax ID: 23-1491457
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Mortgage Data
Review & Overview
Hershey is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Hershey has a high proportion of conventional loans. Their top markets by origination volume include: Harrisburg, York, Lancaster, Reading, and Lebanon among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Hershey has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Hershey is typically a low 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Refi | 6.19% | 11/17/24 |
| 15 Year Conventional Purchase | 5.68% | 11/17/24 |
| 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. | ||
Hershey Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
65Origination Dollar Volume (All Markets)
$7,975,000Relative Rate
Hershey's average 30 year fixed mortgage rate was
6.38%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.11%.
Relative Fees (Closing Costs)
Hershey's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,676.
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 |
|---|---|---|---|---|---|
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 49 | $5,935,000 | $121,122 | $0 | 8.06% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 8 | $1,130,000 | $141,250 | $0 | 8.22% |
| LANCASTER, PA (FHA|USDA|VA) | 4 | $420,000 | $105,000 | $0 | 7.56% |
| READING, PA (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $0 | 7.50% |
| LEBANON, PA (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $2,676 | 7.44% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 65 | $7,975,000 | $122,692 | $2,676 | 8.01% |
For 2023, Hershey's most frequently originated type of loan was Conventional, with 65 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 47 | $6,245,000 | $132,872 | $0 | 7.95% |
| Home Purchase | 18 | $1,730,000 | $96,111 | $2,676 | 8.17% |
For 2023, Hershey's most frequently cited loan purpose was Cash Out Refi, with 47 originations. The 2nd most popular reason was Home Purchase, with 18 originations.
Loan Duration/Length
For 2023, Hershey's most frequently cited loan duration was 15 Year, with 61 originations. The 2nd most popular length was 10 Year, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $85,000 | $85,000 |
Hershey's average total fees were $2,676, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 37 | $3,925,000 | $106,081 |
| 7-8% | 24 | $3,080,000 | $128,333 |
| 6-7% | 4 | $970,000 | $242,500 |
During 2023, Hershey's average interest rate for loans was 6.38%, while their most frequently originated rate bucket for loans was Over 8%, with 37 originations.
Loan Sizing
2023 saw Hershey place emphasis on $100,000 or less loans with 29 originations, totaling $1,805,000 in origination value.
Applicant Income
Hershey lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $250k+, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| <20% | 1 | $85,000 | $85,000 | $2,676 | 6.38% |
Hershey lent most frequently to those with DTI ratios of <20%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.06%
Hershey has an average approval rate.
Pick Rate
Approvals leading to origination98.46%
Hershey has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 65 | $7,975,000 | $122,692 |