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 loans. Heritage Valley has a high proportion of conventional loans. Their top (well, only) market is York.Heritage Valley has an 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% | 11/23/24 |
| 30 Year Cash-out Refi | 5.82% | 11/23/24 |
| 15 Year Conventional Purchase | 5.68% | 11/23/24 |
| 15 Year Conventional Refi | 5.61% | 11/23/24 |
| 15 Year Cash-out Refi | 5.61% | 11/23/24 |
| 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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
33Origination Dollar Volume (All Markets)
$2,325,000Top 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) | 33 | $2,325,000 | $70,455 | $118 | 5.02% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 27 | $1,975,000 | $73,148 | $118 | 4.74% |
| HELOC | 6 | $350,000 | $58,333 | n/a | 6.25% |
For 2019, Heritage Valley's most frequently originated type of loan was Conventional, with 27 originations. Their 2nd most popular type was HELOC, with 6 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 20 | $1,570,000 | $78,500 | $168 | 4.85% |
| Home Improvement | 8 | $380,000 | $47,500 | $0 | 4.90% |
| Other | 5 | $375,000 | $75,000 | $0 | 5.88% |
For 2019, Heritage Valley's most frequently cited loan purpose was Refi, with 20 originations. The 2nd most popular reason was Home Improvement, with 8 originations.
Loan Duration/Length
For 2019, Heritage Valley's most frequently cited loan duration was 10 Year, with 13 originations. The 2nd most popular length was 15 Year, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 27 | $1,975,000 | $73,148 |
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 27 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 17 | $1,585,000 | $93,235 |
| 3-4% | 8 | $170,000 | $21,250 |
| 5-6% | 5 | $375,000 | $75,000 |
| 6-7% | 1 | $45,000 | $45,000 |
| 7-8% | 1 | $45,000 | $45,000 |
| Over 8% | 1 | $105,000 | $105,000 |
During 2019, Heritage Valley's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 17 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 23 | $1,035,000 | $45,000 | $78 | 4.91% |
| $100k-200k | 10 | $1,290,000 | $129,000 | $199 | 5.27% |
2019 saw Heritage Valley place emphasis on $100,000 or less loans with 23 originations, totaling $1,035,000 in origination value.
Applicant Income
Heritage Valley lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $50k-75k, with 6 originations.
Applicant Debt to Income Ratio
Heritage Valley lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? <20%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.67%
Heritage Valley has an average approval rate.
Pick Rate
Approvals leading to origination81.82%
Heritage Valley has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 33 | $2,325,000 | $70,455 |