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 and Refi loans. Community Powered has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Salisbury, and Dover 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

    27

    Origination Dollar Volume (All Markets)

    $3,115,000

    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) 24 $2,470,000 $102,917 $2,680 3.94%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $545,000 $545,000 $3,376 3.00%
    DOVER, DE (FHA|USDA|VA) 2 $100,000 $50,000 $0 5.24%
    Community Powered's top markets include Philadelphia, Salisbury, and Dover among others.

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

    First Citizens Community Bank
    Similarity Rank: 589
    BHCU
    Similarity Rank: 625
    Prudential Bank
    Similarity Rank: 640
    Unity Bank
    Similarity Rank: 1258
    GLENDENNING MORTGAGE CORPORATION
    Similarity Rank: 1340
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION
    Similarity Rank: 1585
    FEDERATED LENDING CORPORATION
    Similarity Rank: 1932
    Penn Community Bank
    Similarity Rank: 1950
    Columbia Bank
    Similarity Rank: 1971
    PINNACLE MORTGAGE, INC.
    Similarity Rank: 1978

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 27 $3,115,000 $115,370 $2,749 4.00%

    For 2020, Community Powered's most frequently originated type of loan was Conventional, with 27 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 17 $915,000 $53,824 $0 4.30%
    Refi 6 $1,660,000 $276,667 $2,672 3.33%
    Home Purchase 3 $435,000 $145,000 $3,045 3.75%
    Cash Out Refi 1 $105,000 $105,000 $2,329 3.50%

    For 2020, Community Powered's most frequently cited loan purpose was Home Improvement, with 17 originations. The 2nd most popular reason was Refi, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 10 $480,000 $48,000 $0 4.07%
    30 Year 7 $1,775,000 $253,571 $2,911 3.57%
    15 Year 6 $550,000 $91,667 $2,745 4.62%
    20 Year 3 $265,000 $88,333 $2,184 3.58%
    5 Year 1 $45,000 $45,000 $0 3.74%

    For 2020, Community Powered's most frequently cited loan duration was 10 Year, with 10 originations. The 2nd most popular length was 30 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 8 $1,860,000 $232,500
    $1k-2k 2 $340,000 $170,000

    Community Powered's average total fees were $2,911, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 8 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 19 $1,965,000 $103,421
    5-6% 3 $175,000 $58,333
    2.5-3% 2 $780,000 $390,000
    4-5% 2 $150,000 $75,000
    6-7% 1 $45,000 $45,000

    During 2020, Community Powered's average interest rate for loans was 3.57%, while their most frequently originated rate bucket for loans was 3-4%, with 19 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 20 $1,180,000 $59,000 $2,816 4.20%
    $200k-400k 4 $1,090,000 $272,500 $2,855 3.47%
    $100k-200k 2 $300,000 $150,000 $2,124 3.56%
    $400k-600k 1 $545,000 $545,000 $3,376 3.00%

    2020 saw Community Powered place emphasis on $100,000 or less loans with 20 originations, totaling $1,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 8 $670,000 $83,750 $3,148 3.73%
    $50k-75k 7 $915,000 $130,714 $2,430 3.98%
    $150k-250k 5 $785,000 $157,000 $3,376 4.54%
    $75k-100k 5 $635,000 $127,000 $2,913 4.10%
    $50k or less 2 $110,000 $55,000 $2,040 3.50%

    Community Powered lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $50k-75k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 7 $1,105,000 $157,857 $3,052 4.43%
    20-30% 4 $220,000 $55,000 $0 3.93%
    40% 3 $355,000 $118,333 $2,914 3.66%
    37% 3 $415,000 $138,333 $2,913 4.58%
    43% 3 $245,000 $81,667 $2,413 3.79%
    <20% 2 $80,000 $40,000 $0 3.87%
    42% 1 $35,000 $35,000 $0 3.75%
    38% 1 $235,000 $235,000 $2,745 3.00%
    45% 1 $255,000 $255,000 $3,037 3.63%
    47% 1 $85,000 $85,000 $0 3.75%
    50-60% 1 $85,000 $85,000 $2,040 3.25%

    Community Powered lent most frequently to those with DTI ratios of 30-36%, with 7 originations. The next most common DTI ratio? 20-30%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 18 $1,870,000 $103,889 $2,482 3.87%
    Black 7 $835,000 $119,286 $3,043 4.16%
    Not provided 2 $410,000 $205,000 $2,913 4.62%

    Approval Rates

    Total approvals of all applications
    96.43%

    Community Powered has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 27 $3,115,000 $115,370

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 27 $3,115,000 $115,370

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $380,000 $63,333 $2,329 4.21%
    40-60% 2 $340,000 $170,000 $2,384 3.50%
    60-80% 5 $1,315,000 $263,000 $2,997 3.33%
    80-100% 2 $440,000 $220,000 $2,705 3.81%
    Under 20% 12 $640,000 $53,333 $0 4.29%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    COMMUNITY BANK SYSTEM, INC. Conventional home mortgage Struggling to pay mortgage 1 33.3%
    COMMUNITY BANK SYSTEM, INC. Conventional home mortgage Trouble during payment process 1 33.3%
    COMMUNITY BANK SYSTEM, INC. Other type of mortgage Closing on a mortgage 1 33.3%