Community Powered Mortgage Rates, Fees & Info
Bear, DELEI: 549300N15SIAR55G5978
Tax ID: 51-0100640
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Mortgage Data
Review & Overview
Community Powered is a smaller mortgage company specializing in Home Improvement loans. Community Powered has a high proportion of conventional loans. Their top two markets are Philadelphia and Dover .Community Powered 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. 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Cash-out Refi | 6.82% | 12/4/24 |
| 15 Year Conventional Refi | 5.68% | 12/4/24 |
| 15 Year Cash-out Refi | 5.68% | 12/4/24 |
| 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
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Originations
31Origination Dollar Volume (All Markets)
$2,195,000Top 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) | 29 | $1,805,000 | $62,241 | $3,485 | 5.14% |
| DOVER, DE (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,395 | 4.25% |
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.
Similarity Rank: 441
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Similarity Rank: 1410
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 31 | $2,195,000 | $70,806 | $3,455 | 5.08% |
For 2022, Community Powered's most frequently originated type of loan was Conventional, with 31 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 28 | $1,550,000 | $55,357 | $0 | 5.18% |
| Refi | 2 | $300,000 | $150,000 | $3,485 | 3.69% |
| Cash Out Refi | 1 | $345,000 | $345,000 | $3,395 | 5.00% |
For 2022, Community Powered's most frequently cited loan purpose was Home Improvement, with 28 originations. The 2nd most popular reason was Refi, with 2 originations.
Loan Duration/Length
For 2022, Community Powered's most frequently cited loan duration was 10 Year, with 10 originations. The 2nd most popular length was 15 Year, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 2 | $570,000 | $285,000 |
| $1k-2k | 1 | $75,000 | $75,000 |
Community Powered's average total fees were $3,395, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 11 | $675,000 | $61,364 |
| 4-5% | 7 | $835,000 | $119,286 |
| 5-6% | 5 | $335,000 | $67,000 |
| 6-7% | 5 | $255,000 | $51,000 |
| 7-8% | 3 | $95,000 | $31,667 |
During 2022, Community Powered's average interest rate for loans was 5.00%, while their most frequently originated rate bucket for loans was 3-4%, with 11 originations.
Loan Sizing
2022 saw Community Powered place emphasis on $100,000 or less loans with 26 originations, totaling $1,160,000 in origination value.
Applicant Income
Community Powered lent most frequently to those with incomes in the $100k-150k range, with 10 originations. The second most popular income band? $150k-250k, with 7 originations.
Applicant Debt to Income Ratio
Community Powered lent most frequently to those with DTI ratios of 20-30%, with 14 originations. The next most common DTI ratio? 30-36%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.37%
Community Powered has an average approval rate.
Pick Rate
Approvals leading to origination87.10%
Community Powered has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 31 | $2,195,000 | $70,806 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Community Loan Servicing, LLC (formerly known as Bayview Loan Servicing, LLC) | FHA mortgage | Struggling to pay mortgage | 2 | 66.7% |
| Community Loan Servicing, LLC (formerly known as Bayview Loan Servicing, LLC) | Other type of mortgage | Trouble during payment process | 1 | 33.3% |