Midatlantic Farm Credit Aca Mortgage Rates, Fees & Info
Westminster, MDLEI: 549300IYR2K45YQJGV33
Tax ID: 52-2240353
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Mortgage Data
Review & Overview
Midatlantic Farm Credit Aca is a smaller mortgage company specializing in Home Purchase and Refi loans. Midatlantic Farm Credit Aca has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Washington, Baltimore, Lancaster, and Salisbury among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Midatlantic Farm Credit Aca has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Midatlantic Farm Credit Aca 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 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 |
|---|---|---|
| 30 Year Conventional Purchase | 7.25% | 11/17/24 |
| 30 Year Conventional Refi | 7.69% | 11/17/24 |
| 30 Year Cash-out Refi | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 6.90% | 11/17/24 |
| 15 Year Conventional Refi | 7.48% | 11/17/24 |
| 15 Year Cash-out Refi | 7.48% | 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. | ||
Midatlantic Farm Credit Aca Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
123Origination Dollar Volume (All Markets)
$28,365,000Top 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) | 14 | $6,210,000 | $443,571 | $5,173 | 5.82% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 16 | $3,930,000 | $245,625 | $2,820 | 5.95% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 13 | $3,835,000 | $295,000 | $3,705 | 5.84% |
| LANCASTER, PA (FHA|USDA|VA) | 13 | $3,625,000 | $278,846 | $4,283 | 6.02% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 11 | $2,055,000 | $186,818 | $3,244 | 5.91% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 17 | $1,985,000 | $116,765 | $1,972 | 5.68% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 4 | $1,660,000 | $415,000 | $7,031 | 6.16% |
| Outside of Metro Areas | 10 | $1,280,000 | $128,000 | $2,382 | 5.79% |
| READING, PA (FHA|USDA|VA) | 6 | $1,230,000 | $205,000 | $4,044 | 5.96% |
| DOVER, DE (FHA|USDA|VA) | 8 | $1,120,000 | $140,000 | $2,645 | 5.78% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 4 | $340,000 | $85,000 | $1,637 | 5.69% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $3,059 | 6.00% |
| Cambridge, MD (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $3,043 | 5.81% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,738 | 6.25% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,132 | 6.25% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,076 | 5.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against MidAtlantic Farm Credit ACA 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 | 123 | $28,365,000 | $230,610 | $3,376 | 5.86% |
For 2018, Midatlantic Farm Credit Aca's most frequently originated type of loan was Conventional, with 123 originations.
Loan Reason
For 2018, Midatlantic Farm Credit Aca's most frequently cited loan purpose was Home Purchase, with 59 originations. The 2nd most popular reason was Refi, with 38 originations.
Loan Duration/Length
For 2018, Midatlantic Farm Credit Aca's most frequently cited loan duration was 30 Year, with 54 originations. The 2nd most popular length was Other, with 35 originations.
Origination Fees/Closing Costs
Midatlantic Farm Credit Aca's average total fees were $4,781, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 56 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 75 | $14,255,000 | $190,067 |
| 6-7% | 44 | $12,880,000 | $292,727 |
| 4-5% | 4 | $1,230,000 | $307,500 |
During 2018, Midatlantic Farm Credit Aca's average interest rate for loans was 6.12%, while their most frequently originated rate bucket for loans was 5-6%, with 75 originations.
Loan Sizing
2018 saw Midatlantic Farm Credit Aca place emphasis on $100,000 or less loans with 35 originations, totaling $1,915,000 in origination value.
Applicant Income
Midatlantic Farm Credit Aca lent most frequently to those with incomes in the $250k+ range, with 29 originations. The second most popular income band? $100k-150k, with 25 originations.
Applicant Debt to Income Ratio
Midatlantic Farm Credit Aca lent most frequently to those with DTI ratios of 30-36%, with 23 originations. The next most common DTI ratio? 20-30%, with 17 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications69.57%
Midatlantic Farm Credit Aca has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination38.21%
Midatlantic Farm Credit Aca 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 |
|---|---|---|---|
| NA | 123 | $28,365,000 | $230,610 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Mid-Atlantic Solutions Holdings, LLC | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |