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 Other, Home Improvement, and Refi loans. The One has a high proportion of conventional loans. Their top markets by origination volume include: Meadville, Erie, Youngstown, Warren, and Oil City among others. We have data for 5 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 an above average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 7.32% | 4/28/24 |
| 30 Year Conventional Purchase | 7.66% | 4/28/24 |
| 30 Year Cash-out Refi | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 5.68% | 4/28/24 |
| 15 Year Conventional Refi | 6.92% | 4/28/24 |
| 15 Year Cash-out Refi | 6.92% | 4/28/24 |
| 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. | ||
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
58Origination Dollar Volume (All Markets)
$2,930,000Top 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) | 52 | $2,560,000 | $49,231 | $509 | 2.90% |
| ERIE, PA (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 1.75% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 1.75% |
| Warren, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 1.75% |
| Oil City, PA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 1.75% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 41 | $1,625,000 | $39,634 | n/a | 1.85% |
| Conventional | 17 | $1,305,000 | $76,765 | $509 | 5.03% |
For 2019, The One's most frequently originated type of loan was HELOC, with 41 originations. Their 2nd most popular type was Conventional, with 17 originations.
Loan Reason
For 2019, The One's most frequently cited loan purpose was Other, with 27 originations. The 2nd most popular reason was Home Improvement, with 22 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 55 | $2,735,000 | $49,727 | $527 | 2.72% |
| 5 Year | 2 | $70,000 | $35,000 | $396 | 4.92% |
| 10 Year | 1 | $125,000 | $125,000 | $0 | 1.75% |
For 2019, The One's most frequently cited loan duration was 15 Year, with 55 originations. The 2nd most popular length was 5 Year, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 15 | $1,195,000 | $79,667 |
The One's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 15 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 37 | $1,445,000 | $39,054 |
| 4-5% | 10 | $850,000 | $85,000 |
| 5-6% | 5 | $305,000 | $61,000 |
| 2.5-3% | 4 | $180,000 | $45,000 |
| 6-7% | 2 | $150,000 | $75,000 |
During 2019, The One's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was <2.5%, with 37 originations.
Loan Sizing
2019 saw The One place emphasis on $100,000 or less loans with 53 originations, totaling $2,115,000 in origination value.
Applicant Income
The One lent most frequently to those with incomes in the $50k or less range, with 18 originations. The second most popular income band? $50k-75k, with 13 originations.
Applicant Debt to Income Ratio
The One lent most frequently to those with DTI ratios of 20-30%, with 11 originations. The next most common DTI ratio? 50-60%, with 10 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.75%
The One has an average approval rate.
Pick Rate
Approvals leading to origination96.55%
The One 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 | 58 | $2,930,000 | $50,517 |