The One Mortgage Rates, Fees & Info
Meadville, PALEI: 549300HTK2JOGRTAIO10
Tax ID: 25-1005441
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Mortgage Data
Review & Overview
The One is a smaller mortgage company specializing in Home Improvement and Cash Out Refi loans. The One has a high proportion of conventional loans. Their top markets by origination volume include: Meadville, Youngstown, Warren, and Erie among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)The One 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. The One 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 7.32% | 11/17/24 |
| 30 Year Conventional Purchase | 7.66% | 11/17/24 |
| 30 Year Cash-out Refi | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 5.68% | 11/17/24 |
| 15 Year Conventional Refi | 6.92% | 11/17/24 |
| 15 Year Cash-out Refi | 6.92% | 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. | ||
The One Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
87Origination Dollar Volume (All Markets)
$5,765,000Relative Rate
The One's average 30 year fixed mortgage rate was
6.88%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.4%.
Relative Fees (Closing Costs)
The One's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,909.
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 |
|---|---|---|---|---|---|
| Meadville, PA (FHA|USDA|VA) | 78 | $5,300,000 | $67,949 | $699 | 4.33% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 5 | $215,000 | $43,000 | $633 | 2.60% |
| Warren, PA (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $633 | 4.56% |
| ERIE, PA (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $633 | 5.39% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 50 | $2,790,000 | $55,800 | n/a | 2.16% |
| Conventional | 37 | $2,975,000 | $80,405 | $694 | 7.11% |
For 2023, The One's most frequently originated type of loan was HELOC, with 50 originations. Their 2nd most popular type was Conventional, with 37 originations.
Loan Reason
For 2023, The One's most frequently cited loan purpose was Home Improvement, with 34 originations. The 2nd most popular reason was Cash Out Refi, with 34 originations.
Loan Duration/Length
For 2023, The One's most frequently cited loan duration was 15 Year, with 81 originations. The 2nd most popular length was 30 Year, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 34 | $2,710,000 | $79,706 |
| $1k-2k | 2 | $180,000 | $90,000 |
The One's average total fees were $3,909, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 34 originations.
Interest Rates
During 2023, The One's average interest rate for loans was 6.88%, while their most frequently originated rate bucket for loans was <2.5%, with 41 originations.
Loan Sizing
2023 saw The One place emphasis on $100,000 or less loans with 72 originations, totaling $2,940,000 in origination value.
Applicant Income
The One lent most frequently to those with incomes in the $50k-75k range, with 22 originations. The second most popular income band? $100k-150k, with 20 originations.
Applicant Debt to Income Ratio
The One lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? 30-36%, with 12 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.24%
The One has an average approval rate.
Pick Rate
Approvals leading to origination81.61%
The One has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 87 | $5,765,000 | $66,264 |