Pentagon Federal Credit Union

TYSONS, VA 22102

LEI: 549300FX7K8PTEQUU487

Tax ID: 53-0197038

2019 Data | 2018 Data


Overview

Pentagon Federal Credit Union is a small mortgage company specializing in Home Purchase and Refi loans. Pentagon Federal Credit Union has a high proportion of conventional loans. Their top markets include Washington, Dallas, Baltimore, Los Angeles, and Frederick among others. They have an average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Pentagon Federal Credit Union is typically a low fee lendor.


Originations

11,898

Origination Dollar Volume (All Markets)

$2,075,620,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 11,129 $1,823,865,000 $163,884
VA 769 $251,755,000 $327,380

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 3,077 $753,275,000 $244,808
Home Improvement 3,428 $332,380,000 $96,960
Other 2,298 $198,610,000 $86,427
Refi 2,257 $525,385,000 $232,780
Cash Out Refi 838 $265,970,000 $317,387

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 1,843 $414,335,000 $224,816
DALLAS-PLANO-IRVING, TX 348 $81,830,000 $235,144
Outside of Metro Areas 560 $79,240,000 $141,500
BALTIMORE-COLUMBIA-TOWSON, MD 323 $77,335,000 $239,427
LOS ANGELES-LONG BEACH-GLENDALE, CA 336 $69,370,000 $206,458
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 223 $55,415,000 $248,498
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 354 $50,980,000 $144,011
PHOENIX-MESA-CHANDLER, AZ 309 $47,895,000 $155,000
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 217 $38,465,000 $177,258
OAKLAND-BERKELEY-LIVERMORE, CA 129 $31,145,000 $241,434
FORT WORTH-ARLINGTON-GRAPEVINE, TX 120 $29,270,000 $243,917
WICHITA, KS 167 $28,935,000 $173,263
ANAHEIM-SANTA ANA-IRVINE, CA 164 $28,010,000 $170,793
DENVER-AURORA-LAKEWOOD, CO 173 $27,485,000 $158,873
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 148 $25,660,000 $173,378
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 150 $24,880,000 $165,867
TAMPA-ST. PETERSBURG-CLEARWATER, FL 171 $24,685,000 $144,357
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 167 $24,465,000 $146,497
ORLANDO-KISSIMMEE-SANFORD, FL 152 $23,690,000 $155,855
SEATTLE-BELLEVUE-KENT, WA 92 $22,430,000 $243,804
SAN ANTONIO-NEW BRAUNFELS, TX 115 $22,275,000 $193,696
LAS VEGAS-HENDERSON-PARADISE, NV 124 $21,380,000 $172,419
CHARLOTTE-CONCORD-GASTONIA, NC-SC 140 $21,030,000 $150,214
RICHMOND, VA 120 $20,920,000 $174,333
SAN JUAN-BAYAMÓN-CAGUAS, PR 126 $19,290,000 $153,095
RALEIGH-CARY, NC 114 $18,430,000 $161,667
SACRAMENTO-ROSEVILLE-FOLSOM, CA 120 $17,250,000 $143,750
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 73 $17,235,000 $236,096
SALISBURY, MD-DE 83 $17,105,000 $206,084
CHICAGO-NAPERVILLE-EVANSTON, IL 133 $16,445,000 $123,647
NEW BRUNSWICK-LAKEWOOD, NJ 109 $15,765,000 $144,633
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 84 $14,020,000 $166,905
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 88 $13,680,000 $155,455
MIAMI-MIAMI BEACH-KENDALL, FL 93 $13,385,000 $143,925
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 74 $13,240,000 $178,919
AUSTIN-ROUND ROCK-GEORGETOWN, TX 63 $12,675,000 $201,190
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 51 $12,165,000 $238,529
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 67 $11,555,000 $172,463
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 84 $11,510,000 $137,024
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 81 $11,305,000 $139,568
URBAN HONOLULU, HI 52 $10,660,000 $205,000
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 44 $10,450,000 $237,500
OXNARD-THOUSAND OAKS-VENTURA, CA 50 $10,280,000 $205,600
NASSAU COUNTY-SUFFOLK COUNTY, NY 56 $10,140,000 $181,071
COLORADO SPRINGS, CO 69 $9,715,000 $140,797
NEWARK, NJ-PA 62 $9,170,000 $147,903
KANSAS CITY, MO-KS 73 $9,125,000 $125,000
JACKSONVILLE, FL 58 $8,670,000 $149,483
AUGUSTA-RICHMOND COUNTY, GA-SC 76 $8,160,000 $107,368
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 48 $7,770,000 $161,875
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 38 $7,520,000 $197,895
BRIDGEPORT-STAMFORD-NORWALK, CT 26 $7,100,000 $273,077
OMAHA-COUNCIL BLUFFS, NE-IA 69 $7,075,000 $102,536
PALM BAY-MELBOURNE-TITUSVILLE, FL 47 $7,055,000 $150,106
NORTH PORT-SARASOTA-BRADENTON, FL 36 $6,740,000 $187,222
BIRMINGHAM-HOOVER, AL 36 $6,730,000 $186,944
INDIANAPOLIS-CARMEL-ANDERSON, IN 50 $6,270,000 $125,400
TACOMA-LAKEWOOD, WA 36 $6,240,000 $173,333
FAYETTEVILLE, NC 68 $6,210,000 $91,324
CHARLESTON-NORTH CHARLESTON, SC 47 $6,105,000 $129,894
RENO, NV 24 $6,080,000 $253,333
ST. LOUIS, MO-IL 45 $5,875,000 $130,556
SALT LAKE CITY, UT 28 $5,860,000 $209,286
PHILADELPHIA, PA 54 $5,690,000 $105,370
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 36 $5,510,000 $153,056
SANTA MARIA-SANTA BARBARA, CA 24 $5,470,000 $227,917
HUNTSVILLE, AL 32 $5,470,000 $170,938
NEW ORLEANS-METAIRIE, LA 33 $5,435,000 $164,697
DURHAM-CHAPEL HILL, NC 32 $5,430,000 $169,688
CHARLOTTESVILLE, VA 29 $5,375,000 $185,345
PENSACOLA-FERRY PASS-BRENT, FL 30 $5,260,000 $175,333
WARREN-TROY-FARMINGTON HILLS, MI 43 $5,175,000 $120,349
OKLAHOMA CITY, OK 35 $5,105,000 $145,857
SAN RAFAEL, CA 13 $5,025,000 $386,538
KILLEEN-TEMPLE, TX 49 $5,025,000 $102,551
EUGENE-SPRINGFIELD, OR 35 $4,445,000 $127,000
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 30 $4,380,000 $146,000
WINCHESTER, VA-WV 22 $4,270,000 $194,091
TUCSON, AZ 34 $4,200,000 $123,529
COLUMBUS, OH 30 $4,180,000 $139,333
GREENVILLE-ANDERSON, SC 27 $4,165,000 $154,259
PITTSBURGH, PA 32 $4,130,000 $129,063
BOSTON, MA 35 $4,085,000 $116,714
STOCKTON, CA 26 $4,080,000 $156,923
WILMINGTON, DE-MD-NJ 30 $3,930,000 $131,000
FORT COLLINS, CO 18 $3,850,000 $213,889
PROVIDENCE-WARWICK, RI-MA 25 $3,775,000 $151,000
CAPE CORAL-FORT MYERS, FL 27 $3,625,000 $134,259
WILMINGTON, NC 16 $3,580,000 $223,750
BOULDER, CO 14 $3,500,000 $250,000
LAKE COUNTY-KENOSHA COUNTY, IL-WI 15 $3,455,000 $230,333
CLEVELAND-ELYRIA, OH 37 $3,435,000 $92,838
PRESCOTT VALLEY-PRESCOTT, AZ 15 $3,415,000 $227,667
CINCINNATI, OH-KY-IN 22 $3,270,000 $148,636
CAMDEN, NJ 37 $3,125,000 $84,459
PORT ST. LUCIE, FL 26 $3,120,000 $120,000
LAKELAND-WINTER HAVEN, FL 18 $3,060,000 $170,000
DAPHNE-FAIRHOPE-FOLEY, AL 13 $2,995,000 $230,385
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 27 $2,975,000 $110,185
PROVO-OREM, UT 22 $2,940,000 $133,636
OLYMPIA-LACEY-TUMWATER, WA 15 $2,885,000 $192,333
BUFFALO-CHEEKTOWAGA, NY 30 $2,810,000 $93,667
VALLEJO, CA 22 $2,810,000 $127,727
GREENSBORO-HIGH POINT, NC 16 $2,770,000 $173,125
SANTA ROSA-PETALUMA, CA 14 $2,760,000 $197,143
BOISE CITY, ID 20 $2,730,000 $136,500
FRESNO, CA 16 $2,700,000 $168,750
KNOXVILLE, TN 22 $2,670,000 $121,364
HILTON HEAD ISLAND-BLUFFTON, SC 20 $2,640,000 $132,000
DAYTON-KETTERING, OH 19 $2,635,000 $138,684
SANTA CRUZ-WATSONVILLE, CA 12 $2,620,000 $218,333
BREMERTON-SILVERDALE-PORT ORCHARD, WA 17 $2,585,000 $152,059
HAGERSTOWN-MARTINSBURG, MD-WV 19 $2,505,000 $131,842
SAN LUIS OBISPO-PASO ROBLES, CA 10 $2,490,000 $249,000
NAPLES-MARCO ISLAND, FL 15 $2,485,000 $165,667
SCRANTON--WILKES-BARRE, PA 31 $2,465,000 $79,516
CHATTANOOGA, TN-GA 17 $2,465,000 $145,000
MEMPHIS, TN-MS-AR 23 $2,455,000 $106,739
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 25 $2,425,000 $97,000
YORK-HANOVER, PA 16 $2,380,000 $148,750
EAST STROUDSBURG, PA 19 $2,325,000 $122,368
CLARKSVILLE, TN-KY 12 $2,310,000 $192,500
AGUADILLA-ISABELA, PR 16 $2,300,000 $143,750
CALIFORNIA-LEXINGTON PARK, MD 10 $2,300,000 $230,000
ALBUQUERQUE, NM 18 $2,260,000 $125,556
NEW HAVEN-MILFORD, CT 15 $2,235,000 $149,000
NAPA, CA 8 $2,230,000 $278,750
PORTLAND-SOUTH PORTLAND, ME 16 $2,210,000 $138,125
ASHEVILLE, NC 19 $2,175,000 $114,474
OGDEN-CLEARFIELD, UT 13 $2,125,000 $163,462
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 16 $2,090,000 $130,625
EL PASO, TX 17 $2,055,000 $120,882
DULUTH, MN-WI 6 $2,010,000 $335,000
SPOKANE-SPOKANE VALLEY, WA 12 $1,940,000 $161,667
GARY, IN 14 $1,940,000 $138,571
COLUMBIA, SC 15 $1,925,000 $128,333
WINSTON-SALEM, NC 13 $1,905,000 $146,538
LOUISVILLE/JEFFERSON COUNTY, KY-IN 12 $1,880,000 $156,667
MADISON, WI 12 $1,870,000 $155,833
GAINESVILLE, GA 11 $1,845,000 $167,727
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 15 $1,835,000 $122,333
MILWAUKEE-WAUKESHA, WI 18 $1,830,000 $101,667
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 11 $1,805,000 $164,091
OCALA, FL 15 $1,795,000 $119,667
COLUMBUS, GA-AL 19 $1,775,000 $93,421
ARECIBO, PR 17 $1,745,000 $102,647
BEND, OR 9 $1,735,000 $192,778
ROCHESTER, NY 13 $1,675,000 $128,846
GULFPORT-BILOXI, MS 9 $1,675,000 $186,111
SAVANNAH, GA 12 $1,630,000 $135,833
ELGIN, IL 13 $1,615,000 $124,231
THE VILLAGES, FL 10 $1,610,000 $161,000
WORCESTER, MA-CT 11 $1,595,000 $145,000
HARRISBURG-CARLISLE, PA 10 $1,560,000 $156,000
CORPUS CHRISTI, TX 9 $1,535,000 $170,556
DETROIT-DEARBORN-LIVONIA, MI 18 $1,500,000 $83,333
PONCE, PR 7 $1,465,000 $209,286
SANTA FE, NM 8 $1,450,000 $181,250
MONTGOMERY, AL 13 $1,355,000 $104,231
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 9 $1,315,000 $146,111
SALINAS, CA 11 $1,305,000 $118,636
SALEM, OR 11 $1,295,000 $117,727
PUNTA GORDA, FL 9 $1,295,000 $143,889
BAKERSFIELD, CA 10 $1,290,000 $129,000
ANCHORAGE, AK 10 $1,240,000 $124,000
JACKSONVILLE, NC 7 $1,235,000 $176,429
PANAMA CITY, FL 9 $1,225,000 $136,111
ROANOKE, VA 11 $1,215,000 $110,455
SIERRA VISTA-DOUGLAS, AZ 10 $1,210,000 $121,000
TALLAHASSEE, FL 9 $1,205,000 $133,889
NORWICH-NEW LONDON, CT 6 $1,200,000 $200,000
BARNSTABLE TOWN, MA 8 $1,170,000 $146,250
GAINESVILLE, FL 9 $1,135,000 $126,111
MOUNT VERNON-ANACORTES, WA 7 $1,135,000 $162,143
MODESTO, CA 11 $1,105,000 $100,455
LEXINGTON-FAYETTE, KY 7 $1,095,000 $156,429
SEBASTIAN-VERO BEACH, FL 5 $1,045,000 $209,000
MIDLAND, TX 4 $1,040,000 $260,000
GRAND JUNCTION, CO 3 $1,025,000 $341,667
AKRON, OH 13 $985,000 $75,769
MCALLEN-EDINBURG-MISSION, TX 9 $985,000 $109,444
TRENTON-PRINCETON, NJ 8 $970,000 $121,250
SPRINGFIELD, MO 7 $965,000 $137,857
JACKSON, MS 7 $955,000 $136,429
SPARTANBURG, SC 6 $940,000 $156,667
ST. GEORGE, UT 4 $940,000 $235,000
MANCHESTER-NASHUA, NH 8 $940,000 $117,500
ANN ARBOR, MI 6 $910,000 $151,667
STATE COLLEGE, PA 5 $895,000 $179,000
BURLINGTON, NC 6 $890,000 $148,333
SPRINGFIELD, MA 6 $870,000 $145,000
WARNER ROBINS, GA 6 $870,000 $145,000
ATHENS-CLARKE COUNTY, GA 6 $870,000 $145,000
ATLANTIC CITY-HAMMONTON, NJ 10 $870,000 $87,000
TULSA, OK 8 $840,000 $105,000
BATON ROUGE, LA 9 $835,000 $92,778
LANCASTER, PA 9 $825,000 $91,667
LINCOLN, NE 5 $805,000 $161,000
DOVER, DE 7 $795,000 $113,571
IDAHO FALLS, ID 5 $775,000 $155,000
LAREDO, TX 5 $745,000 $149,000
EVANSVILLE, IN-KY 4 $740,000 $185,000
SYRACUSE, NY 8 $740,000 $92,500
LYNCHBURG, VA 4 $740,000 $185,000
MORRISTOWN, TN 2 $740,000 $370,000
GRAND RAPIDS-KENTWOOD, MI 10 $710,000 $71,000
COLLEGE STATION-BRYAN, TX 4 $710,000 $177,500
DES MOINES-WEST DES MOINES, IA 6 $700,000 $116,667
AUBURN-OPELIKA, AL 5 $675,000 $135,000
LAFAYETTE, LA 6 $670,000 $111,667
OCEAN CITY, NJ 8 $650,000 $81,250
BELLINGHAM, WA 5 $645,000 $129,000
TOLEDO, OH 5 $645,000 $129,000
VALDOSTA, GA 6 $640,000 $106,667
SHERMAN-DENISON, TX 3 $635,000 $211,667
ELIZABETHTOWN-FORT KNOX, KY 3 $625,000 $208,333
ALEXANDRIA, LA 3 $625,000 $208,333
BROWNSVILLE-HARLINGEN, TX 5 $585,000 $117,000
ALBANY-LEBANON, OR 4 $580,000 $145,000
READING, PA 6 $580,000 $96,667
GETTYSBURG, PA 5 $575,000 $115,000
SAN GERMÁN, PR 5 $565,000 $113,000
MEDFORD, OR 3 $555,000 $185,000
LAKE HAVASU CITY-KINGMAN, AZ 5 $545,000 $109,000
JOHNSON CITY, TN 4 $530,000 $132,500
MACON-BIBB COUNTY, GA 2 $530,000 $265,000
HICKORY-LENOIR-MORGANTON, NC 5 $525,000 $105,000
UTICA-ROME, NY 4 $510,000 $127,500
HAMMOND, LA 6 $510,000 $85,000
FARMINGTON, NM 2 $500,000 $250,000
CHAMBERSBURG-WAYNESBORO, PA 6 $490,000 $81,667
PUEBLO, CO 4 $470,000 $117,500
EAU CLAIRE, WI 3 $465,000 $155,000
SPRINGFIELD, IL 2 $460,000 $230,000
MANHATTAN, KS 2 $460,000 $230,000
BRUNSWICK, GA 3 $455,000 $151,667
WACO, TX 3 $455,000 $151,667
LANSING-EAST LANSING, MI 4 $450,000 $112,500
WALLA WALLA, WA 3 $445,000 $148,333
CHEYENNE, WY 2 $440,000 $220,000
SUMTER, SC 5 $435,000 $87,000
HOMOSASSA SPRINGS, FL 6 $430,000 $71,667
YUMA, AZ 5 $425,000 $85,000
ROCKY MOUNT, NC 4 $420,000 $105,000
LAWTON, OK 3 $415,000 $138,333
WENATCHEE, WA 3 $405,000 $135,000
BILLINGS, MT 3 $395,000 $131,667
FARGO, ND-MN 1 $385,000 $385,000
WICHITA FALLS, TX 3 $385,000 $128,333
NEW BERN, NC 2 $370,000 $185,000
MOBILE, AL 3 $365,000 $121,667
FLAGSTAFF, AZ 2 $360,000 $180,000
BLACKSBURG-CHRISTIANSBURG, VA 3 $355,000 $118,333
BURLINGTON-SOUTH BURLINGTON, VT 3 $355,000 $118,333
LUBBOCK, TX 2 $350,000 $175,000
HUNTINGTON-ASHLAND, WV-KY-OH 2 $350,000 $175,000
COLUMBUS, IN 3 $345,000 $115,000
REDDING, CA 4 $340,000 $85,000
BECKLEY, WV 3 $335,000 $111,667
FORT WAYNE, IN 4 $330,000 $82,500
BLOOMINGTON, IN 2 $320,000 $160,000
GOLDSBORO, NC 1 $315,000 $315,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 4 $310,000 $77,500
GREELEY, CO 5 $305,000 $61,000
BINGHAMTON, NY 1 $305,000 $305,000
ALBANY-SCHENECTADY-TROY, NY 3 $295,000 $98,333
MERCED, CA 3 $295,000 $98,333
CHICO, CA 2 $290,000 $145,000
VISALIA, CA 3 $285,000 $95,000
JONESBORO, AR 2 $280,000 $140,000
KINGSPORT-BRISTOL, TN-VA 3 $275,000 $91,667
JANESVILLE-BELOIT, WI 3 $275,000 $91,667
FLORENCE-MUSCLE SHOALS, AL 1 $275,000 $275,000
CORVALLIS, OR 4 $270,000 $67,500
ST. JOSEPH, MO-KS 3 $265,000 $88,333
TOPEKA, KS 3 $265,000 $88,333
BLOOMINGTON, IL 2 $260,000 $130,000
COEUR D'ALENE, ID 2 $260,000 $130,000
SIOUX FALLS, SD 1 $255,000 $255,000
EL CENTRO, CA 4 $250,000 $62,500
GRAND FORKS, ND-MN 1 $245,000 $245,000
ALBANY, GA 3 $245,000 $81,667
TUSCALOOSA, AL 3 $245,000 $81,667
HOT SPRINGS, AR 2 $240,000 $120,000
DECATUR, AL 1 $235,000 $235,000
BOWLING GREEN, KY 3 $225,000 $75,000
LOGAN, UT-ID 1 $225,000 $225,000
KAHULUI-WAILUKU-LAHAINA, HI 1 $225,000 $225,000
HOUMA-THIBODAUX, LA 2 $220,000 $110,000
SHREVEPORT-BOSSIER CITY, LA 4 $220,000 $55,000
AMARILLO, TX 3 $215,000 $71,667
APPLETON, WI 1 $215,000 $215,000
FLORENCE, SC 2 $200,000 $100,000
MAYAGÜEZ, PR 2 $200,000 $100,000
BEAUMONT-PORT ARTHUR, TX 2 $200,000 $100,000
FLINT, MI 2 $190,000 $95,000
LAWRENCE, KS 2 $190,000 $95,000
JOPLIN, MO 2 $190,000 $95,000
SAN ANGELO, TX 2 $190,000 $95,000
CARSON CITY, NV 3 $185,000 $61,667
GREENVILLE, NC 3 $185,000 $61,667
SAGINAW, MI 1 $175,000 $175,000
CANTON-MASSILLON, OH 3 $175,000 $58,333
BANGOR, ME 1 $175,000 $175,000
LEBANON, PA 1 $165,000 $165,000
MUSKEGON, MI 1 $165,000 $165,000
SOUTH BEND-MISHAWAKA, IN-MI 2 $160,000 $80,000
LAS CRUCES, NM 3 $155,000 $51,667
MISSOULA, MT 2 $150,000 $75,000
YAKIMA, WA 2 $150,000 $75,000
FORT SMITH, AR-OK 2 $150,000 $75,000
LONGVIEW, TX 3 $145,000 $48,333
SEBRING-AVON PARK, FL 3 $145,000 $48,333
IOWA CITY, IA 1 $145,000 $145,000
OSHKOSH-NEENAH, WI 2 $140,000 $70,000
GUAYAMA, PR 2 $140,000 $70,000
GLENS FALLS, NY 3 $135,000 $45,000
RAPID CITY, SD 3 $135,000 $45,000
YAUCO, PR 1 $135,000 $135,000
LAFAYETTE-WEST LAFAYETTE, IN 2 $130,000 $65,000
PITTSFIELD, MA 2 $130,000 $65,000
MADERA, CA 1 $125,000 $125,000
ELKHART-GOSHEN, IN 1 $115,000 $115,000
WATERTOWN-FORT DRUM, NY 1 $115,000 $115,000
MORGANTOWN, WV 2 $110,000 $55,000
BATTLE CREEK, MI 1 $105,000 $105,000
CUMBERLAND, MD-WV 1 $105,000 $105,000
SHEBOYGAN, WI 1 $105,000 $105,000
PEORIA, IL 1 $105,000 $105,000
HANFORD-CORCORAN, CA 1 $105,000 $105,000
KINGSTON, NY 1 $95,000 $95,000
YUBA CITY, CA 4 $90,000 $22,500
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 2 $90,000 $45,000
POCATELLO, ID 1 $85,000 $85,000
ALTOONA, PA 2 $80,000 $40,000
MUNCIE, IN 1 $75,000 $75,000
GADSDEN, AL 1 $75,000 $75,000
ROCHESTER, MN 1 $65,000 $65,000
COLUMBIA, MO 1 $65,000 $65,000
LEWISTON, ID-WA 1 $65,000 $65,000
HATTIESBURG, MS 1 $55,000 $55,000
GRANTS PASS, OR 1 $55,000 $55,000
RACINE, WI 1 $55,000 $55,000
KENNEWICK-RICHLAND, WA 1 $55,000 $55,000
MONROE, LA 1 $55,000 $55,000
HINESVILLE, GA 1 $55,000 $55,000
TYLER, TX 1 $55,000 $55,000
CAPE GIRARDEAU, MO-IL 2 $50,000 $25,000
ITHACA, NY 1 $45,000 $45,000
DOTHAN, AL 1 $45,000 $45,000
VINELAND-BRIDGETON, NJ 1 $35,000 $35,000
JACKSON, TN 1 $35,000 $35,000
CHAMPAIGN-URBANA, IL 1 $35,000 $35,000
CLEVELAND, TN 1 $25,000 $25,000
NILES, MI 1 $25,000 $25,000
GRAND ISLAND, NE 1 $25,000 $25,000
FAIRBANKS, AK 1 $25,000 $25,000
KANKAKEE, IL 1 $25,000 $25,000
MICHIGAN CITY-LA PORTE, IN 1 $15,000 $15,000
MANSFIELD, OH 1 $15,000 $15,000
SPRINGFIELD, OH 1 $15,000 $15,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
<2.5% 2 $400,000 $200,000
2.5-3% 264 $74,330,000 $281,553
3-4% 3,337 $1,047,325,000 $313,852
4-5% 1,876 $361,470,000 $192,681
5-6% 4,304 $401,130,000 $93,199
6-7% 1,964 $180,750,000 $92,032
7-8% 149 $9,965,000 $66,879
Over 8% 2 $250,000 $125,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 5,180 $268,880,000 $51,907
$100k-200k 2,793 $393,635,000 $140,936
$200k-400k 2,755 $761,895,000 $276,550
$400k-600k 840 $397,220,000 $472,881
$600k-1000k 300 $213,570,000 $711,900
$Over $1MM 30 $40,420,000 $1,347,333

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
20-40% 2,217 $297,595,000 $134,233
40-60% 1,146 $270,020,000 $235,620
60-80% 2,129 $633,815,000 $297,705
80-100% 1,863 $534,395,000 $286,846
Over 100% 108 $36,380,000 $336,852
Under 20% 4,372 $284,380,000 $65,046

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 3,387 $529,635,000 $156,373
$150k-250k 3,209 $653,725,000 $203,716
$50k-75k 1,451 $171,305,000 $118,060
$50k-or less 677 $65,785,000 $97,171
$75k-100k 1,844 $255,710,000 $138,671
$Over $250k 1,180 $353,310,000 $299,415

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 6,988 $1,230,660,000 $176,110
Not provided 2,915 $480,335,000 $164,780
Black 907 $141,095,000 $155,562
Asian 687 $135,845,000 $197,737
Asian Indian 145 $39,365,000 $271,483
American Indian 103 $18,325,000 $177,913
Filipino 38 $6,300,000 $165,789
Korean 16 $5,550,000 $346,875
Chinese 26 $4,820,000 $185,385
Native Hawaiian 31 $3,615,000 $116,613
Other Asian 13 $3,015,000 $231,923
Vietnamese 12 $2,740,000 $228,333
Other Pacific Islander 7 $2,045,000 $292,143
Japanese 4 $1,210,000 $302,500
Native Hawiian 4 $480,000 $120,000
Guamanian 1 $195,000 $195,000
Samoan 1 $25,000 $25,000

Approval Rates

Total approvals of all applications
79.98%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
61.38%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
NA 11,898 $2,075,620,000 $174,451

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 4,780 $942,060,000 $197,084
$1k-2k 716 $201,600,000 $281,564
$2k-3k 412 $127,530,000 $309,539
$3k-4k 351 $126,435,000 $360,214
$5k+ 222 $111,890,000 $504,009

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Single Family (1-4 Units):Manufactured 64 $4,600,000 $71,875
Single Family (1-4 Units):Site-Built 11,834 $2,071,020,000 $175,006