Colonial Mortgage Service Company Of America Rates, Fees & Info
Montgomeryville, PALEI: 549300IO1KYLVNDJOQ94
Tax ID: 23-2689725
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Mortgage Data
Review & Overview
Colonial Mortgage Service Company Of America is a smaller mortgage company specializing in Refi and Home Purchase loans. Colonial Mortgage Service Company Of America has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Philadelphia, Washington, New York, Pittsburgh, and Richmond among others. We have data for 30 markets. (Some data included below & more in-depth data is available with an active subscription.)Colonial Mortgage Service Company Of America 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. Colonial Mortgage Service Company Of America 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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Originations
233Origination Dollar Volume (All Markets)
$73,695,000Top 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 |
|---|---|---|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 61 | $20,085,000 | $329,262 | $5,556 | 3.75% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 29 | $10,665,000 | $367,759 | $8,460 | 3.55% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 29 | $9,985,000 | $344,310 | $0 | 3.65% |
| PITTSBURGH, PA (FHA|USDA|VA) | 15 | $4,845,000 | $323,000 | $6,328 | 3.88% |
| RICHMOND, VA (FHA|USDA|VA) | 17 | $4,605,000 | $270,882 | $7,417 | 3.76% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 10 | $3,450,000 | $345,000 | $0 | 3.68% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 10 | $2,790,000 | $279,000 | $6,016 | 3.60% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 7 | $2,245,000 | $320,714 | $0 | 3.84% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 6 | $1,790,000 | $298,333 | $0 | 3.83% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 6 | $1,750,000 | $291,667 | $0 | 3.79% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 5 | $1,625,000 | $325,000 | $0 | 3.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 4 | $1,290,000 | $322,500 | $0 | 3.94% |
| LANCASTER, PA (FHA|USDA|VA) | 4 | $1,010,000 | $252,500 | $0 | 3.81% |
| Outside of Metro Areas | 3 | $945,000 | $315,000 | $4,508 | 3.50% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $0 | 3.46% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 4 | $770,000 | $192,500 | $7,075 | 3.75% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $0 | 3.38% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $0 | 3.56% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $6,891 | 3.81% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $0 | 3.75% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $0 | 4.25% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 3.25% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 3.38% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 3.00% |
| LEBANON, PA (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $3,197 | 4.06% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 3.75% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,242 | 3.63% |
| Somerset, PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 4.25% |
| READING, PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 3.88% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $8,180 | 3.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against COLONIAL MORTGAGE SERVICE COMPANY OF AMERICA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2019, Colonial Mortgage Service Company Of America's most frequently originated type of loan was Conventional, with 220 originations. Their 2nd most popular type was FHA, with 9 originations.
Loan Reason
For 2019, Colonial Mortgage Service Company Of America's most frequently cited loan purpose was Refi, with 136 originations. The 2nd most popular reason was Home Purchase, with 72 originations.
Loan Duration/Length
For 2019, Colonial Mortgage Service Company Of America's most frequently cited loan duration was 30 Year, with 183 originations. The 2nd most popular length was 15 Year, with 31 originations.
Origination Fees/Closing Costs
Colonial Mortgage Service Company Of America's average total fees were $5,702, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 191 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 175 | $55,945,000 | $319,686 |
| 4-5% | 45 | $12,655,000 | $281,222 |
| 2.5-3% | 11 | $3,375,000 | $306,818 |
| 5-6% | 2 | $1,720,000 | $860,000 |
During 2019, Colonial Mortgage Service Company Of America's average interest rate for loans was 3.82%, while their most frequently originated rate bucket for loans was 3-4%, with 175 originations.
Loan Sizing
2019 saw Colonial Mortgage Service Company Of America place emphasis on $200k-400k loans with 154 originations, totaling $47,010,000 in origination value.
Applicant Income
Colonial Mortgage Service Company Of America lent most frequently to those with incomes in the $100k-150k range, with 90 originations. The second most popular income band? $150k-250k, with 57 originations.
Applicant Debt to Income Ratio
Colonial Mortgage Service Company Of America lent most frequently to those with DTI ratios of 20-30%, with 80 originations. The next most common DTI ratio? 30-36%, with 50 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.03%
Colonial Mortgage Service Company Of America has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination69.10%
Colonial Mortgage Service Company Of America has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1195.0 | 1 | $245,000 | $245,000 |
| 1232.5 | 1 | $185,000 | $185,000 |
| 1268.12 | 1 | $435,000 | $435,000 |
| 1329.88 | 1 | $365,000 | $365,000 |
| 1359.64 | 1 | $345,000 | $345,000 |
| 1420.0 | 1 | $345,000 | $345,000 |
| 1695.0 | 1 | $205,000 | $205,000 |
| 1705.0 | 1 | $285,000 | $285,000 |
| 1905.0 | 1 | $365,000 | $365,000 |
| 2179.0 | 1 | $235,000 | $235,000 |
| 2477.0 | 1 | $375,000 | $375,000 |
| 2842.0 | 1 | $385,000 | $385,000 |
| 2988.3 | 1 | $485,000 | $485,000 |
| 3835.0 | 1 | $285,000 | $285,000 |
| 4454.4 | 1 | $375,000 | $375,000 |
| 4695.73 | 1 | $235,000 | $235,000 |
| 5462.06 | 1 | $415,000 | $415,000 |
| 5591.8 | 1 | $335,000 | $335,000 |
| 7296.7 | 1 | $295,000 | $295,000 |
| 8393.6 | 1 | $315,000 | $315,000 |
| 995.0 | 2 | $560,000 | $280,000 |
| NA | 211 | $66,625,000 | $315,758 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 233 | $73,695,000 | $316,288 |