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 Other, Home Improvement, and Refi loans. Heritage Valley has a high proportion of conventional loans. Their top markets by origination volume include: York, Richmond, Gettysburg, and Lancaster among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)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. Heritage Valley 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.35% | 11/21/24 |
| 30 Year Cash-out Refi | 5.82% | 11/21/24 |
| 15 Year Conventional Purchase | 5.68% | 11/21/24 |
| 15 Year Conventional Refi | 5.61% | 11/21/24 |
| 15 Year Cash-out Refi | 5.61% | 11/21/24 |
| 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
161Origination Dollar Volume (All Markets)
$10,115,000Top 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) | 156 | $9,620,000 | $61,667 | $175 | 4.27% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,832 | 5.45% |
| Outside of Metro Areas | 2 | $120,000 | $60,000 | $3,586 | 3.95% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.74% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.99% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 145 | $8,845,000 | $61,000 | $215 | 4.29% |
| HELOC | 16 | $1,270,000 | $79,375 | n/a | 4.16% |
For 2022, Heritage Valley's most frequently originated type of loan was Conventional, with 145 originations. Their 2nd most popular type was HELOC, with 16 originations.
Loan Reason
For 2022, Heritage Valley's most frequently cited loan purpose was Other, with 67 originations. The 2nd most popular reason was Home Improvement, with 56 originations.
Loan Duration/Length
For 2022, Heritage Valley's most frequently cited loan duration was 10 Year, with 65 originations. The 2nd most popular length was 15 Year, with 46 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 140 | $8,000,000 | $57,143 |
| $1k-2k | 1 | $85,000 | $85,000 |
| $2k-3k | 1 | $195,000 | $195,000 |
| $5k+ | 1 | $235,000 | $235,000 |
Heritage Valley's average total fees were $5,331, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 140 originations.
Interest Rates
During 2022, Heritage Valley's average interest rate for loans was 5.83%, while their most frequently originated rate bucket for loans was 3-4%, with 91 originations.
Loan Sizing
2022 saw Heritage Valley place emphasis on $100,000 or less loans with 135 originations, totaling $5,985,000 in origination value.
Applicant Income
Heritage Valley lent most frequently to those with incomes in the $50k-75k range, with 45 originations. The second most popular income band? $100k-150k, with 41 originations.
Applicant Debt to Income Ratio
Heritage Valley lent most frequently to those with DTI ratios of 20-30%, with 44 originations. The next most common DTI ratio? 30-36%, with 37 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.33%
Heritage Valley has a below average approval rate.
Pick Rate
Approvals leading to origination83.23%
Heritage Valley has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $25,000 | $25,000 |
| NA | 160 | $10,090,000 | $63,063 |