Poli Mortgage Group Rates, Fees & Info

Canton, MA

LEI: 549300OCQ8J0ZXMCTF89

Tax ID: 04-3554142

5 stars - out of 5 stars, based on 14 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Poli Mortgage Group is a smaller mortgage company specializing in Home Purchase and Refi loans. Poli Mortgage Group has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Boston, Providence, Worcester, Barnstable Town, and New York among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Poli Mortgage Group has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Poli Mortgage Group 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 Conventional Purchase 6.35% 3/30/23
    30 Year Conventional Refi 6.61% 3/30/23
    30 Year Cash-out Refi 6.30% 3/30/23
    30 Year FHA Purchase 6.68% 3/30/23
    30 Year FHA Refi 7.55% 3/30/23
    30 Year VA Purchase 6.27% 3/30/23
    30 Year VA Refi 5.73% 3/30/23
    15 Year Conventional Purchase 5.07% 3/30/23
    15 Year Conventional Refi 5.89% 3/30/23
    15 Year Cash-out Refi 5.89% 3/30/23
    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.


    Originations

    203

    Origination Dollar Volume (All Markets)

    $88,605,000
    Show all (12) awards

    Relative Rate

    Poli Mortgage Group's average 30 year fixed mortgage rate was 4.51%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.25%.

    Relative Fees (Closing Costs)

    Poli Mortgage Group's average total fees/closing costs for a 30 year fixed rate mortgage were $3,409.

    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 $4,750.

    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
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 121 $57,215,000 $472,851 $2,732 4.32%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 12 $4,290,000 $357,500 $4,283 4.54%
    WORCESTER, MA-CT (FHA|USDA|VA) 10 $3,940,000 $394,000 $2,874 3.90%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 8 $3,870,000 $483,750 $1,578 3.38%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 5 $2,465,000 $493,000 $4,370 4.20%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $2,025,000 $405,000 $6,877 5.58%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 5 $1,715,000 $343,000 $1,443 4.60%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $1,265,000 $421,667 $4,471 4.88%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 3 $1,205,000 $401,667 $5,116 4.25%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $1,035,000 $345,000 $4,423 4.46%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $990,000 $495,000 $7,411 4.69%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $940,000 $470,000 $3,534 4.69%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 2 $770,000 $385,000 $5,604 4.94%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $685,000 $685,000 $5,466 5.50%
    Outside of Metro Areas 2 $640,000 $320,000 $4,088 4.50%
    SPRINGFIELD, MA (FHA|USDA|VA) 3 $575,000 $191,667 $5,779 5.21%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $565,000 $565,000 $6,631 7.25%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 2 $520,000 $260,000 $4,950 4.31%
    PANAMA CITY, FL (FHA|USDA|VA) 2 $510,000 $255,000 $3,910 4.00%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $455,000 $455,000 $1,794 3.13%
    WINSTON-SALEM, NC (FHA|USDA|VA) 1 $425,000 $425,000 $4,874 5.00%
    OCALA, FL (FHA|USDA|VA) 2 $380,000 $190,000 $5,866 5.13%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $365,000 $365,000 $599 4.75%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $355,000 $355,000 $3,863 5.88%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $345,000 $345,000 $4,157 3.50%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $315,000 $315,000 $4,111 5.25%
    Bennington, VT (FHA|USDA|VA) 1 $305,000 $305,000 $6,194 5.13%
    Rutland, VT (FHA|USDA|VA) 1 $235,000 $235,000 $3,558 6.25%
    SAVANNAH, GA (FHA|USDA|VA) 1 $205,000 $205,000 $3,362 3.25%
    Poli Mortgage Group's top markets include Boston, Providence, Worcester, Barnstable Town, and New York among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Hampshire (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 Poli Mortgage Group based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Homestar Mortgage, Inc.
    Similarity Rank: 52
    SOMERSET
    Similarity Rank: 87
    N C P D Federal Credit Union
    Similarity Rank: 306
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 326
    Louviers Federal Credit Union
    Similarity Rank: 328
    Schuyler Savings Bank
    Similarity Rank: 352
    OCEAN STATE CREDIT UNION
    Similarity Rank: 360
    The First National Bank of Long Island
    Similarity Rank: 374
    Rhode Island Credit Union
    Similarity Rank: 393
    FALL RIVER MUNICIPAL CREDIT UNION
    Similarity Rank: 396

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 197 $85,755,000 $435,305 $2,947 4.40%
    FHA 5 $2,275,000 $455,000 $13,579 4.55%
    VA 1 $575,000 $575,000 $13,014 2.38%

    For 2022, Poli Mortgage Group's most frequently originated type of loan was Conventional, with 197 originations. Their 2nd most popular type was FHA, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 121 $52,245,000 $431,777 $4,173 4.80%
    Refi 80 $35,390,000 $442,375 $1,844 3.78%
    Cash Out Refi 2 $970,000 $485,000 $4,543 3.75%

    For 2022, Poli Mortgage Group's most frequently cited loan purpose was Home Purchase, with 121 originations. The 2nd most popular reason was Refi, with 80 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 181 $80,835,000 $446,602 $3,409 4.51%
    15 Year 17 $6,175,000 $363,235 $2,068 3.36%
    20 Year 3 $1,055,000 $351,667 $2,501 3.46%
    Other 2 $540,000 $270,000 $885 3.69%

    For 2022, Poli Mortgage Group's most frequently cited loan duration was 30 Year, with 181 originations. The 2nd most popular length was 15 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 120 $54,960,000 $458,000
    $1k-2k 61 $25,725,000 $421,721
    $2k-3k 10 $3,950,000 $395,000
    $5k+ 6 $2,310,000 $385,000
    $3k-4k 4 $1,140,000 $285,000
    $4k-5k 2 $520,000 $260,000

    Poli Mortgage Group's average total fees were $3,409, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 120 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 62 $27,750,000 $447,581
    4-5% 59 $26,065,000 $441,780
    5-6% 47 $19,525,000 $415,426
    2.5-3% 17 $7,845,000 $461,471
    <2.5% 8 $3,870,000 $483,750
    6-7% 8 $2,570,000 $321,250
    7-8% 2 $980,000 $490,000

    During 2022, Poli Mortgage Group's average interest rate for loans was 4.51%, while their most frequently originated rate bucket for loans was 3-4%, with 62 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 81 $40,185,000 $496,111 $3,370 4.34%
    $200k-400k 75 $23,325,000 $311,000 $3,555 4.53%
    $600k-1MM 35 $23,165,000 $661,857 $2,332 4.15%
    $100k-200k 12 $1,930,000 $160,833 $3,358 4.58%

    2022 saw Poli Mortgage Group place emphasis on $400k-600k loans with 81 originations, totaling $40,185,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 70 $35,540,000 $507,714 $3,274 4.39%
    $100k-150k 62 $26,340,000 $424,839 $3,705 4.62%
    $75k-100k 32 $11,650,000 $364,063 $2,804 4.21%
    $250k+ 22 $10,890,000 $495,000 $2,383 4.32%
    $50k-75k 16 $3,940,000 $246,250 $3,689 3.98%
    $50k or less 1 $245,000 $245,000 $1,379 3.38%

    Poli Mortgage Group lent most frequently to those with incomes in the $150k-250k range, with 70 originations. The second most popular income band? $100k-150k, with 62 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 44 $20,310,000 $461,591 $3,386 4.52%
    20-30% 33 $13,195,000 $399,848 $3,473 4.36%
    39% 13 $6,095,000 $468,846 $3,364 4.65%
    40% 12 $4,770,000 $397,500 $2,852 4.80%
    41% 12 $5,380,000 $448,333 $4,243 4.78%
    48% 11 $4,595,000 $417,727 $2,547 4.01%
    43% 9 $3,415,000 $379,444 $2,450 4.35%
    49% 9 $3,145,000 $349,444 $2,572 4.14%
    37% 9 $4,135,000 $459,444 $5,111 3.44%
    42% 8 $3,520,000 $440,000 $3,241 4.09%
    44% 8 $4,740,000 $592,500 $869 4.28%
    <20% 6 $2,320,000 $386,667 $3,729 4.40%
    46% 6 $2,840,000 $473,333 $5,350 4.85%
    47% 6 $2,780,000 $463,333 $2,432 4.17%
    38% 5 $2,575,000 $515,000 $1,972 4.40%
    45% 5 $1,985,000 $397,000 $2,445 4.00%
    36% 5 $1,995,000 $399,000 $2,535 4.65%
    50-60% 2 $810,000 $405,000 $6,544 4.25%

    Poli Mortgage Group lent most frequently to those with DTI ratios of 30-36%, with 44 originations. The next most common DTI ratio? 20-30%, with 33 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 127 $53,325,000 $419,882 $3,828 4.40%
    Asian 68 $31,830,000 $468,088 $2,025 4.32%
    Black 6 $2,590,000 $431,667 $3,829 4.73%
    Asian Indian 1 $645,000 $645,000 $7,463 5.75%
    Not provided 1 $215,000 $215,000 $7,201 4.63%

    Approval Rates

    Total approvals of all applications
    93.31%

    Poli Mortgage Group has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.34%

    Poli Mortgage Group has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 203 $88,605,000 $436,478

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    203 $88,605,000 $436,478

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $7,625,000 $331,522 $2,222 3.97%
    40-60% 36 $13,970,000 $388,056 $2,588 4.09%
    60-80% 90 $41,560,000 $461,778 $2,958 4.48%
    80-100% 53 $25,175,000 $475,000 $4,672 4.61%
    Under 20% 1 $275,000 $275,000 $3,382 5.00%