Heritage Valley Mortgage Rates, Fees & Info
York, PALEI: 549300JUZBXW5SUK5V79
Tax ID: 23-6277336
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Mortgage Data
Review & Overview
Heritage Valley is a smaller mortgage company specializing in Refi and Home Improvement loans. Heritage Valley has a high proportion of conventional loans. Their top (well, only) market is York.Heritage Valley 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.35% | 4/28/24 |
| 30 Year Cash-out Refi | 5.82% | 4/28/24 |
| 15 Year Conventional Purchase | 5.68% | 4/28/24 |
| 15 Year Conventional Refi | 5.61% | 4/28/24 |
| 15 Year Cash-out Refi | 5.61% | 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. | ||
Heritage Valley Mortgage Calculator
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Originations
34Origination Dollar Volume (All Markets)
$2,390,000Top 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 |
|---|---|---|---|---|---|
| YORK-HANOVER, PA (FHA|USDA|VA) | 32 | $2,230,000 | $69,688 | $347 | 4.70% |
| Outside of Metro Areas | 2 | $160,000 | $80,000 | $213 | 4.50% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 31 | $1,965,000 | $63,387 | $338 | 4.58% |
| HELOC | 3 | $425,000 | $141,667 | n/a | 5.83% |
For 2018, Heritage Valley's most frequently originated type of loan was Conventional, with 31 originations. Their 2nd most popular type was HELOC, with 3 originations.
Loan Reason
For 2018, Heritage Valley's most frequently cited loan purpose was Refi, with 26 originations. The 2nd most popular reason was Home Improvement, with 5 originations.
Loan Duration/Length
For 2018, Heritage Valley's most frequently cited loan duration was 10 Year, with 18 originations. The 2nd most popular length was 15 Year, with 8 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 30 | $1,790,000 | $59,667 |
| $4k-5k | 1 | $175,000 | $175,000 |
Heritage Valley's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 30 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 25 | $1,795,000 | $71,800 |
| 3-4% | 5 | $285,000 | $57,000 |
| 6-7% | 3 | $255,000 | $85,000 |
| 5-6% | 1 | $55,000 | $55,000 |
During 2018, Heritage Valley's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 25 originations.
Loan Sizing
2018 saw Heritage Valley place emphasis on $100,000 or less loans with 26 originations, totaling $1,180,000 in origination value.
Applicant Income
Heritage Valley lent most frequently to those with incomes in the $50k-75k range, with 11 originations. The second most popular income band? $75k-100k, with 8 originations.
Applicant Debt to Income Ratio
Heritage Valley lent most frequently to those with DTI ratios of 20-30%, with 10 originations. The next most common DTI ratio? 30-36%, with 7 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 30 | $2,000,000 | $66,667 | $374 | 4.70% |
| Not provided | 4 | $390,000 | $97,500 | $0 | 4.56% |
Approval Rates
Total approvals of all applications96.30%
Heritage Valley has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination47.06%
Heritage Valley 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 | 34 | $2,390,000 | $70,294 |