Penn Community Bank Mortgage Rates, Fees & Info
Doylestown, PALEI: 549300L3C3LKXG2XBS96
Tax ID: 23-1330248
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/25/24 |
| 30 Year Conventional Purchase | 6.31% | 4/25/24 |
| 30 Year Conventional Refi | 6.22% | 4/25/24 |
| 30 Year Cash-out Refi | 6.26% | 4/25/24 |
| 15 Year Conventional Purchase | 6.38% | 4/25/24 |
| 15 Year Conventional Refi | 5.97% | 4/25/24 |
| 15 Year Cash-out Refi | 5.97% | 4/25/24 |
| 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
531Origination Dollar Volume (All Markets)
$175,065,000Awards
Penn Community Bank - 2023
Penn Community Bank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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.
Similarity Rank: 21
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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
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications89.45%
Penn Community Bank has an average approval rate.
Pick Rate
Approvals leading to origination85.12%
Penn Community Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 531 | $175,065,000 | $329,689 |