Community Powered Mortgage Rates, Fees & Info

Bear, DE

LEI: 549300N15SIAR55G5978

Tax ID: 51-0100640

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
  • Complaints
  • 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

    Community Powered is a smaller mortgage company specializing in Home Improvement, Home Purchase, and Refi loans. Community Powered has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Salisbury, and Atlantic City among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Community Powered has an above average approval rate when compared to the average across all lenders. Community Powered 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
    30 Year Cash-out Refi 6.82% 4/21/24
    15 Year Conventional Refi 5.68% 4/21/24
    15 Year Cash-out Refi 5.68% 4/21/24
    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.

    Community Powered Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Community Powered. 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

    37

    Origination Dollar Volume (All Markets)

    $4,495,000

    Awards

    COMMUNITY POWERED 30 Year Conventional Loans gold COMMUNITY POWERED 30 Year Conventional Loans bronze
    Show all (2) 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) 34 $3,840,000 $112,941 $2,720 5.53%
    SALISBURY, MD-DE (FHA|USDA|VA) 2 $580,000 $290,000 $3,527 4.69%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $75,000 $75,000 $0 6.00%
    Community Powered's top markets include Philadelphia, Salisbury, and Atlantic City among others.

    Their top states include:
  • Delaware (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against COMMUNITY POWERED based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Iron Workers Savings Bank
    Similarity Rank: 63
    Haddon Savings Bank
    Similarity Rank: 116
    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 126
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION
    Similarity Rank: 135
    Columbia Bank
    Similarity Rank: 136
    WASHINGTON SAVINGS BANK
    Similarity Rank: 225
    COMMUNITY POWERED
    Similarity Rank: 228
    Penn Community Bank
    Similarity Rank: 576
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    ESSA Bank & Trust
    Similarity Rank: 710

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 37 $4,495,000 $121,486 $2,770 5.50%

    For 2018, Community Powered's most frequently originated type of loan was Conventional, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 20 $1,100,000 $55,000 $2,269 6.25%
    Home Purchase 8 $1,550,000 $193,750 $2,971 4.48%
    Cash Out Refi 5 $735,000 $147,000 $2,512 5.17%
    Refi 4 $1,110,000 $277,500 $2,686 4.20%

    For 2018, Community Powered's most frequently cited loan purpose was Home Improvement, with 20 originations. The 2nd most popular reason was Home Purchase, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 12 $2,640,000 $220,000 $2,858 4.48%
    15 Year 8 $970,000 $121,250 $2,506 5.76%
    5 Year 6 $180,000 $30,000 $0 5.75%
    10 Year 5 $415,000 $83,000 $0 5.97%
    Other 5 $265,000 $53,000 $0 5.90%
    3 Year 1 $25,000 $25,000 $0 9.75%

    For 2018, Community Powered's most frequently cited loan duration was 30 Year, with 12 originations. The 2nd most popular length was 15 Year, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 15 $2,985,000 $199,000
    $2k-3k 1 $345,000 $345,000

    Community Powered's average total fees were $2,858, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 15 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 17 $2,695,000 $158,529
    5-6% 12 $930,000 $77,500
    Over 8% 3 $85,000 $28,333
    3-4% 2 $690,000 $345,000
    7-8% 2 $40,000 $20,000
    6-7% 1 $55,000 $55,000

    During 2018, Community Powered's average interest rate for loans was 4.48%, 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 19 $755,000 $39,737 $2,410 6.27%
    $100k-200k 12 $1,890,000 $157,500 $2,547 4.80%
    $200k-400k 5 $1,295,000 $259,000 $3,119 4.54%
    $400k-600k 1 $555,000 $555,000 $3,527 3.87%

    2018 saw Community Powered place emphasis on $100,000 or less loans with 19 originations, totaling $755,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 11 $1,035,000 $94,091 $2,446 5.12%
    $100k-150k 9 $1,215,000 $135,000 $3,300 6.32%
    $75k-100k 9 $975,000 $108,333 $2,599 4.99%
    $50k-75k 4 $400,000 $100,000 $2,559 6.13%
    $150k-250k 3 $315,000 $105,000 $0 5.67%
    $250k+ 1 $555,000 $555,000 $3,527 3.87%

    Community Powered lent most frequently to those with incomes in the $50k or less range, with 11 originations. The second most popular income band? $100k-150k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 13 $1,675,000 $128,846 $2,595 4.77%
    <20% 5 $1,305,000 $261,000 $3,543 4.52%
    30-36% 5 $385,000 $77,000 $2,405 6.16%
    38% 2 $60,000 $30,000 $0 7.63%
    36% 2 $230,000 $115,000 $0 5.38%
    41% 2 $40,000 $20,000 $0 8.13%
    44% 2 $210,000 $105,000 $2,272 5.49%
    >60% 1 $135,000 $135,000 $0 5.50%
    43% 1 $25,000 $25,000 $0 5.50%
    37% 1 $195,000 $195,000 $2,312 5.75%
    40% 1 $55,000 $55,000 $0 6.00%

    Community Powered lent most frequently to those with DTI ratios of 20-30%, with 13 originations. The next most common DTI ratio? <20%, with 5 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 23 $2,855,000 $124,130 $2,830 5.36%
    Not provided 6 $870,000 $145,000 $2,553 4.88%
    Black 8 $770,000 $96,250 $2,978 6.35%

    Approval Rates

    Total approvals of all applications
    92.50%

    Community Powered has an average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 37 $4,495,000 $121,486

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 37 $4,495,000 $121,486

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $690,000 $86,250 $2,269 5.48%
    40-60% 3 $355,000 $118,333 $2,179 4.44%
    60-80% 10 $1,670,000 $167,000 $2,594 4.89%
    80-100% 6 $1,520,000 $253,333 $3,256 4.31%
    Under 20% 10 $260,000 $26,000 $0 7.15%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Community Lending of America, Inc. VA mortgage Closing on a mortgage 1 100.0%