Penn Community Bank Mortgage Rates, Fees & Info

Doylestown, PA

LEI: 549300L3C3LKXG2XBS96

Tax ID: 23-1330248

5 stars - Updated: 12/9/24 - out of 5 stars, based on 23 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Penn Community Bank is a smaller bank specializing in Home Purchase loans. Penn Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Allentown, Reading, New York, and Ocean City among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

Penn Community Bank 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. Penn Community Bank 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 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 12/9/24
30 Year Conventional Purchase 6.31% 12/9/24
30 Year Conventional Refi 6.22% 12/9/24
30 Year Cash-out Refi 6.26% 12/9/24
15 Year Conventional Purchase 6.38% 12/9/24
15 Year Conventional Refi 5.97% 12/9/24
15 Year Cash-out Refi 5.97% 12/9/24
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.

Penn Community Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Penn Community Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

531

Origination Dollar Volume (All Markets)

$175,065,000

Awards

Penn Community Bank 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Penn Community Bank's average 30 year fixed mortgage rate was 6.75%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.27%.

Relative Fees (Closing Costs)

Penn Community Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,027.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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) 453 $134,835,000 $297,649 $1,826 7.44%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 46 $19,260,000 $418,696 $2,344 7.47%
READING, PA (FHA|USDA|VA) 7 $7,575,000 $1,082,143 $3,151 7.23%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 10 $6,200,000 $620,000 $2,883 7.24%
OCEAN CITY, NJ (FHA|USDA|VA) 4 $2,810,000 $702,500 $3,951 6.56%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $1,445,000 $1,445,000 $9,146 6.63%
Outside of Metro Areas 1 $905,000 $905,000 $7,531 5.13%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 3 $785,000 $261,667 $4,257 7.67%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $455,000 $455,000 $4,660 6.75%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $255,000 $255,000 $7,927 6.38%
Huntingdon, PA (FHA|USDA|VA) 1 $205,000 $205,000 $5,999 7.88%
Pottsville, PA (FHA|USDA|VA) 1 $125,000 $125,000 $0 8.00%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.88%
LANCASTER, PA (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.50%
Penn Community Bank's top markets include Philadelphia, Allentown, Reading, New York, and Ocean City among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Penn Community Bank 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 324 $144,800,000 $446,914 $2,019 6.94%
    HELOC 207 $30,265,000 $146,208 n/a 8.20%

    For 2023, Penn Community Bank's most frequently originated type of loan was Conventional, with 324 originations. Their 2nd most popular type was HELOC, with 207 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 202 $127,710,000 $632,228 $3,810 7.02%
    Home Improvement 139 $19,685,000 $141,619 $60 7.83%
    Refi 116 $19,660,000 $169,483 $1,082 7.48%
    Other 69 $7,295,000 $105,725 $177 7.74%
    Cash Out Refi 5 $715,000 $143,000 $3,441 6.83%

    For 2023, Penn Community Bank's most frequently cited loan purpose was Home Purchase, with 202 originations. The 2nd most popular reason was Home Improvement, with 139 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 237 $51,465,000 $217,152 $248 8.01%
    30 Year 143 $51,705,000 $361,573 $4,027 6.75%
    20 Year 52 $5,640,000 $108,462 $49 7.75%
    5 Year 40 $59,530,000 $1,488,250 $0 6.52%
    15 Year 38 $4,960,000 $130,526 $116 7.32%
    Other 19 $1,735,000 $91,316 $0 6.47%
    3 Year 2 $30,000 $15,000 $0 7.00%

    For 2023, Penn Community Bank's most frequently cited loan duration was 10 Year, with 237 originations. The 2nd most popular length was 30 Year, with 143 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 239 $50,635,000 $211,862
    $1k-2k 6 $1,600,000 $266,667
    $2k-3k 5 $1,525,000 $305,000
    $3k-4k 4 $1,370,000 $342,500
    $5k+ 3 $725,000 $241,667
    $4k-5k 2 $860,000 $430,000

    Penn Community Bank's average total fees were $4,027, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 239 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 210 $42,520,000 $202,476
    Over 8% 153 $22,565,000 $147,484
    6-7% 122 $71,410,000 $585,328
    5-6% 42 $37,400,000 $890,476
    4-5% 3 $815,000 $271,667
    3-4% 1 $355,000 $355,000

    During 2023, Penn Community Bank's average interest rate for loans was 6.75%, while their most frequently originated rate bucket for loans was 7-8%, with 210 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 201 $10,015,000 $49,826 $119 7.59%
    $200k-400k 129 $34,255,000 $265,543 $3,589 7.29%
    $100k-200k 124 $17,540,000 $141,452 $1,439 7.67%
    $400k-600k 37 $17,935,000 $484,730 $4,761 7.12%
    $1MM+ 22 $81,470,000 $3,703,182 $9,579 6.44%
    $600k-1MM 18 $13,850,000 $769,444 $6,188 6.69%

    2023 saw Penn Community Bank place emphasis on $100,000 or less loans with 201 originations, totaling $10,015,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 112 $15,720,000 $140,357 $1,449 7.53%
    $150k-250k 105 $23,845,000 $227,095 $2,312 7.65%
    $75k-100k 81 $10,695,000 $132,037 $1,726 7.47%
    $50k-75k 70 $6,530,000 $93,286 $1,708 7.43%
    $250k+ 69 $27,755,000 $402,246 $3,638 7.49%
    $50k or less 32 $2,590,000 $80,938 $1,377 7.39%

    Penn Community Bank lent most frequently to those with incomes in the $100k-150k range, with 112 originations. The second most popular income band? $150k-250k, with 105 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 108 $18,160,000 $168,148 $1,755 7.46%
    30-36% 88 $16,940,000 $192,500 $2,312 7.45%
    42% 81 $11,705,000 $144,506 $1,524 7.71%
    40% 32 $5,500,000 $171,875 $1,318 7.79%
    39% 32 $4,950,000 $154,688 $855 7.77%
    41% 31 $5,445,000 $175,645 $2,297 7.23%
    37% 30 $4,370,000 $145,667 $1,466 7.50%
    <20% 27 $8,025,000 $297,222 $3,276 7.38%
    38% 20 $3,510,000 $175,500 $413 7.62%
    36% 9 $2,155,000 $239,444 $1,483 7.49%
    47% 6 $1,810,000 $301,667 $3,979 6.71%
    44% 6 $2,560,000 $426,667 $4,363 7.06%
    49% 4 $920,000 $230,000 $3,023 6.69%
    46% 3 $2,105,000 $701,667 $5,367 6.96%
    43% 3 $745,000 $248,333 $2,974 7.00%
    45% 2 $990,000 $495,000 $3,942 7.31%
    48% 2 $840,000 $420,000 $4,702 6.19%

    Penn Community Bank lent most frequently to those with DTI ratios of 20-30%, with 108 originations. The next most common DTI ratio? 30-36%, with 88 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 44 $83,420,000 $1,895,909 $0 6.70%
    White 430 $81,400,000 $189,302 $1,868 7.51%
    Not provided 26 $4,840,000 $186,154 $2,591 7.61%
    Black 20 $3,390,000 $169,500 $3,132 7.00%
    Asian 11 $2,015,000 $183,182 $3,798 7.44%

    Approval Rates

    Total approvals of all applications
    89.45%

    Penn Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.12%

    Penn Community Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 531 $175,065,000 $329,689

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    531 $175,065,000 $329,689

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 124 $21,370,000 $172,339 $1,230 7.86%
    40-60% 51 $31,315,000 $614,020 $2,524 7.30%
    60-80% 98 $85,970,000 $877,245 $4,338 6.83%
    80-100% 60 $20,160,000 $336,000 $3,728 6.86%
    Over 100% 1 $4,225,000 $4,225,000 $16,408 6.75%
    Under 20% 197 $12,025,000 $61,041 $40 7.66%