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 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.) Their top markets by origination volume include: Philadelphia, Washington, Pittsburgh, New York, and Richmond among others. We have data for 34 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 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 about average rates.
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Originations
284Origination Dollar Volume (All Markets)
$89,100,000Awards
COLONIAL MORTGAGE SERVICE COMPANY OF AMERICA - 2020
COLONIAL MORTGAGE SERVICE COMPANY OF AMERICA is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 77 | $25,155,000 | $326,688 | $3,959 | 3.02% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 30 | $10,140,000 | $338,000 | $3,041 | 2.95% |
| PITTSBURGH, PA (FHA|USDA|VA) | 32 | $9,620,000 | $300,625 | $3,774 | 2.96% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 30 | $9,380,000 | $312,667 | $3,354 | 2.96% |
| RICHMOND, VA (FHA|USDA|VA) | 12 | $3,470,000 | $289,167 | $3,237 | 2.76% |
| LANCASTER, PA (FHA|USDA|VA) | 12 | $3,240,000 | $270,000 | $3,918 | 3.02% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 9 | $2,625,000 | $291,667 | $3,957 | 2.97% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 8 | $2,560,000 | $320,000 | $2,874 | 2.92% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 8 | $2,440,000 | $305,000 | $2,668 | 2.75% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 6 | $2,350,000 | $391,667 | $3,967 | 2.58% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 7 | $2,075,000 | $296,429 | $3,742 | 2.82% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 6 | $1,940,000 | $323,333 | $4,321 | 2.79% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 6 | $1,660,000 | $276,667 | $4,406 | 2.94% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 5 | $1,405,000 | $281,000 | $4,916 | 2.80% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 3 | $1,115,000 | $371,667 | $4,733 | 2.75% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $4,158 | 3.63% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 3 | $1,045,000 | $348,333 | $4,470 | 2.75% |
| LYNCHBURG, VA (FHA|USDA|VA) | 3 | $875,000 | $291,667 | $3,089 | 2.67% |
| LEBANON, PA (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $4,025 | 3.00% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $2,292 | 3.00% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $4,669 | 3.19% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $2,796 | 3.19% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $4,625 | 2.56% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $3,727 | 3.25% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $6,469 | 3.63% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $2,241 | 3.13% |
| READING, PA (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $3,619 | 2.63% |
| Pottsville, PA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $6,269 | 2.75% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $2,405 | 2.75% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,854 | 3.50% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,028 | 2.50% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,961 | 2.75% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,389 | 3.25% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,268 | 2.75% |
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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 281 | $88,085,000 | $313,470 | $3,734 | 2.94% |
| VA | 2 | $880,000 | $440,000 | $919 | 3.19% |
| FHA | 1 | $135,000 | $135,000 | $2,280 | 3.50% |
For 2020, Colonial Mortgage Service Company Of America's most frequently originated type of loan was Conventional, with 281 originations. Their 2nd most popular type was VA, with 2 originations.
Loan Reason
For 2020, Colonial Mortgage Service Company Of America's most frequently cited loan purpose was Refi, with 226 originations. The 2nd most popular reason was Home Purchase, with 31 originations.
Loan Duration/Length
For 2020, Colonial Mortgage Service Company Of America's most frequently cited loan duration was 30 Year, with 147 originations. The 2nd most popular length was 20 Year, with 82 originations.
Origination Fees/Closing Costs
Colonial Mortgage Service Company Of America's average total fees were $3,831, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 240 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 139 | $43,535,000 | $313,201 |
| 3-4% | 97 | $31,065,000 | $320,258 |
| <2.5% | 45 | $13,635,000 | $303,000 |
| 4-5% | 3 | $865,000 | $288,333 |
During 2020, Colonial Mortgage Service Company Of America's average interest rate for loans was 3.07%, while their most frequently originated rate bucket for loans was 2.5-3%, with 139 originations.
Loan Sizing
2020 saw Colonial Mortgage Service Company Of America place emphasis on $200k-400k loans with 221 originations, totaling $66,525,000 in origination value.
Applicant Income
Colonial Mortgage Service Company Of America lent most frequently to those with incomes in the $100k-150k range, with 118 originations. The second most popular income band? $150k-250k, with 86 originations.
Applicant Debt to Income Ratio
Colonial Mortgage Service Company Of America lent most frequently to those with DTI ratios of 20-30%, with 106 originations. The next most common DTI ratio? 30-36%, with 61 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.71%
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 origination79.93%
Colonial Mortgage Service Company Of America has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 284 | $89,100,000 | $313,732 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 284 | $89,100,000 | $313,732 |