Penn Community Bank Mortgage Rates, Fees & Info

Doylestown, PA

LEI: 549300L3C3LKXG2XBS96

Tax ID: 23-1330248

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Penn Community Bank is a smaller bank specializing in Home Purchase and Refi loans. Penn Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Allentown, New York, Ocean City, and Naples among others. We have data for 13 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 about average 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% 9/22/24
    30 Year Conventional Purchase 6.31% 9/22/24
    30 Year Conventional Refi 6.22% 9/22/24
    30 Year Cash-out Refi 6.26% 9/22/24
    15 Year Conventional Purchase 6.38% 9/22/24
    15 Year Conventional Refi 5.97% 9/22/24
    15 Year Cash-out Refi 5.97% 9/22/24
    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

    832

    Origination Dollar Volume (All Markets)

    $233,430,000
    Show all (5) awards

    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) 742 $210,160,000 $283,235 $2,287 4.59%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 57 $11,915,000 $209,035 $2,752 4.64%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 11 $4,295,000 $390,455 $3,000 4.06%
    OCEAN CITY, NJ (FHA|USDA|VA) 5 $2,365,000 $473,000 $3,217 4.30%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $1,410,000 $705,000 $5,955 3.00%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 3 $895,000 $298,333 $3,178 3.04%
    Outside of Metro Areas 2 $790,000 $395,000 $4,907 3.38%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $560,000 $280,000 $2,837 4.00%
    READING, PA (FHA|USDA|VA) 4 $430,000 $107,500 $1,780 3.90%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $305,000 $305,000 $3,149 5.88%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $135,000 $135,000 $0 5.50%
    Pottsville, PA (FHA|USDA|VA) 1 $105,000 $105,000 $3,012 3.13%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.24%
    Penn Community Bank's top markets include Philadelphia, Allentown, New York, Ocean City, and Naples 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.

    ALLENTOWN
    Similarity Rank: 24
    VISIONS
    Similarity Rank: 154
    Malvern Bank N.A.
    Similarity Rank: 441
    Peoples Security Bank and Trust Company
    Similarity Rank: 540
    Investors Bank
    Similarity Rank: 630
    Lakeland Bank
    Similarity Rank: 700
    Penn Community Bank
    Similarity Rank: 715
    Dover Federal Credit Union
    Similarity Rank: 756
    FEDERATED LENDING CORPORATION
    Similarity Rank: 880
    DEL-ONE FEDERAL CREDIT UNION
    Similarity Rank: 965

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 506 $185,220,000 $366,047 $2,376 4.41%
    HELOC 326 $48,210,000 $147,883 n/a 4.81%

    For 2022, Penn Community Bank's most frequently originated type of loan was Conventional, with 506 originations. Their 2nd most popular type was HELOC, with 326 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 255 $125,395,000 $491,745 $3,854 4.52%
    Home Improvement 248 $25,670,000 $103,508 $175 4.79%
    Refi 201 $58,865,000 $292,861 $2,296 4.53%
    Other 91 $10,495,000 $115,330 $665 4.53%
    Cash Out Refi 37 $13,005,000 $351,486 $4,216 3.65%

    For 2022, Penn Community Bank's most frequently cited loan purpose was Home Purchase, with 255 originations. The 2nd most popular reason was Home Improvement, with 248 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 365 $73,255,000 $200,699 $112 4.79%
    30 Year 252 $91,660,000 $363,730 $3,923 4.12%
    15 Year 121 $13,755,000 $113,678 $649 4.50%
    5 Year 43 $29,495,000 $685,930 $27 4.82%
    20 Year 21 $2,715,000 $129,286 $576 5.45%
    Other 19 $13,445,000 $707,632 $0 4.78%
    1 Year 6 $7,580,000 $1,263,333 $0 5.67%
    3 Year 4 $770,000 $192,500 $0 4.38%
    30+ year 1 $755,000 $755,000 $7,237 3.88%

    For 2022, Penn Community Bank's most frequently cited loan duration was 10 Year, with 365 originations. The 2nd most popular length was 30 Year, with 252 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 387 $95,135,000 $245,827
    $1k-2k 6 $1,940,000 $323,333
    $3k-4k 5 $2,555,000 $511,000
    $5k+ 4 $1,400,000 $350,000
    $2k-3k 2 $480,000 $240,000
    $4k-5k 1 $205,000 $205,000

    Penn Community Bank's average total fees were $3,923, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 387 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 303 $99,825,000 $329,455
    4-5% 242 $76,160,000 $314,711
    5-6% 135 $28,765,000 $213,074
    6-7% 109 $18,005,000 $165,183
    2.5-3% 28 $7,520,000 $268,571
    7-8% 14 $2,890,000 $206,429
    <2.5% 1 $265,000 $265,000

    During 2022, Penn Community Bank's average interest rate for loans was 4.12%, while their most frequently originated rate bucket for loans was 3-4%, with 303 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 269 $14,595,000 $54,257 $177 4.72%
    $100k-200k 217 $30,295,000 $139,608 $1,555 4.62%
    $200k-400k 215 $57,665,000 $268,209 $3,413 4.57%
    $400k-600k 64 $30,910,000 $482,969 $4,590 4.16%
    $600k-1MM 46 $33,340,000 $724,783 $5,264 4.03%
    $1MM+ 21 $66,625,000 $3,172,619 $8,379 4.41%

    2022 saw Penn Community Bank place emphasis on $100,000 or less loans with 269 originations, totaling $14,595,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 189 $35,365,000 $187,116 $2,318 4.63%
    $150k-250k 173 $42,265,000 $244,306 $2,621 4.39%
    $50k-75k 115 $12,535,000 $109,000 $1,608 4.70%
    $75k-100k 114 $15,930,000 $139,737 $1,738 4.38%
    $250k+ 110 $41,740,000 $379,455 $4,282 4.71%
    $50k or less 47 $3,815,000 $81,170 $1,856 4.39%

    Penn Community Bank lent most frequently to those with incomes in the $100k-150k range, with 189 originations. The second most popular income band? $150k-250k, with 173 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 185 $39,825,000 $215,270 $2,492 4.26%
    30-36% 160 $29,730,000 $185,813 $1,850 4.62%
    42% 92 $16,330,000 $177,500 $1,986 4.85%
    <20% 69 $15,655,000 $226,884 $2,838 4.44%
    41% 59 $11,915,000 $201,949 $2,056 4.57%
    39% 50 $10,010,000 $200,200 $3,253 4.59%
    40% 49 $9,435,000 $192,551 $2,044 4.61%
    38% 38 $7,790,000 $205,000 $2,305 4.88%
    37% 31 $6,495,000 $209,516 $2,947 4.49%
    36% 26 $4,720,000 $181,538 $2,629 4.75%
    49% 4 $1,400,000 $350,000 $7,059 4.88%
    46% 3 $1,175,000 $391,667 $4,109 3.92%
    45% 2 $280,000 $140,000 $2,932 3.56%
    43% 2 $250,000 $125,000 $0 4.13%
    44% 1 $105,000 $105,000 $3,393 2.63%
    47% 1 $295,000 $295,000 $11,384 5.38%

    Penn Community Bank lent most frequently to those with DTI ratios of 20-30%, with 185 originations. The next most common DTI ratio? 30-36%, with 160 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 706 $140,410,000 $198,881 $2,291 4.57%
    Not applicable 52 $72,540,000 $1,395,000 $0 4.78%
    Asian 32 $11,300,000 $353,125 $4,071 4.20%
    Not provided 30 $5,990,000 $199,667 $1,984 4.68%
    Asian Indian 4 $2,270,000 $567,500 $4,705 4.28%
    Black 8 $920,000 $115,000 $1,682 4.19%

    Approval Rates

    Total approvals of all applications
    89.65%

    Penn Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.77%

    Penn Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 832 $233,430,000 $280,565

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    832 $233,430,000 $280,565

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 188 $30,520,000 $162,340 $1,326 4.69%
    40-60% 110 $33,500,000 $304,545 $3,161 4.37%
    60-80% 175 $114,395,000 $653,686 $4,260 4.37%
    80-100% 79 $35,275,000 $446,519 $4,134 4.16%
    Under 20% 280 $19,740,000 $70,500 $136 4.80%