Poli Mortgage Group Rates, Fees & Info

Canton, MA

LEI: 549300OCQ8J0ZXMCTF89

Tax ID: 04-3554142

5 stars - out of 5 stars, based on 35 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Poli Mortgage Group is a smaller mortgage company specializing in 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.) They have a low ratio of USDA loans. Their top markets include Boston, Worcester, Providence, Barnstable Town, and New York among others. Poli Mortgage Group has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Poli Mortgage Group is typically a low fee lendor.


Originations

1,237

Origination Dollar Volume (All Markets)

$516,315,000
Show all (12) awards

Relative Rate

Poli Mortgage Group 's average 30 year fixed rate mortgage of loans were 2.92%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.23%.

Relative Fees

Poli Mortgage Group 's average total fees for a 30 year fixed rate mortgage are $1,200.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 888 $388,450,000 $437,444 $867 2.78%
WORCESTER, MA-CT (FHA|USDA|VA) 64 $22,640,000 $353,750 $1,131 2.74%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 59 $20,145,000 $341,441 $1,296 2.85%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 49 $19,675,000 $401,531 $1,055 2.74%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 22 $10,010,000 $455,000 $2,217 2.61%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 22 $9,480,000 $430,909 $1,977 2.69%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 18 $6,910,000 $383,889 $2,843 2.88%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 13 $4,455,000 $342,692 $2,972 2.81%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 14 $4,370,000 $312,143 $2,160 2.60%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 11 $3,815,000 $346,818 $3,482 2.81%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 9 $3,555,000 $395,000 $1,743 2.75%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 6 $2,970,000 $495,000 $2,093 2.54%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 8 $2,870,000 $358,750 $1,739 2.77%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 8 $2,190,000 $273,750 $2,609 2.83%
Outside of Metro Areas 6 $1,800,000 $300,000 $2,033 3.06%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $1,410,000 $352,500 $3,831 2.97%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 3 $1,125,000 $375,000 $1,166 2.71%
Torrington, CT (FHA|USDA|VA) 3 $1,065,000 $355,000 $2,290 2.71%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $1,005,000 $335,000 $3,557 2.75%
Vineyard Haven, MA (FHA|USDA|VA) 2 $930,000 $465,000 $5,567 3.00%
Laconia, NH (FHA|USDA|VA) 2 $890,000 $445,000 $4,054 2.56%
Concord, NH (FHA|USDA|VA) 3 $805,000 $268,333 $2,033 2.58%
Keene, NH (FHA|USDA|VA) 2 $790,000 $395,000 $850 2.69%
Lebanon, NH-VT (FHA|USDA|VA) 2 $650,000 $325,000 $1,447 2.31%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $505,000 $505,000 $1,630 2.38%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $485,000 $485,000 $5,347 2.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $480,000 $240,000 $2,529 3.50%
SPRINGFIELD, MA (FHA|USDA|VA) 2 $430,000 $215,000 $1,575 3.25%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $375,000 $375,000 $2,376 2.88%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $365,000 $365,000 $3,177 3.25%
OCEAN CITY, NJ (FHA|USDA|VA) 2 $290,000 $145,000 $2,266 3.00%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $285,000 $285,000 $2,107 2.50%
SAVANNAH, GA (FHA|USDA|VA) 1 $255,000 $255,000 $2,427 3.25%
PITTSFIELD, MA (FHA|USDA|VA) 1 $235,000 $235,000 $2,172 2.25%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $205,000 $205,000 $1,264 2.75%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $205,000 $205,000 $2,734 3.63%
OCALA, FL (FHA|USDA|VA) 1 $195,000 $195,000 $3,374 3.25%

Poli Mortgage Group 's top markets include Boston, Worcester, Providence, Barnstable Town, and New York among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,220 $509,580,000 $417,689 $1,073 2.78%
FHA 8 $3,000,000 $375,000 $8,674 2.50%
VA 8 $3,430,000 $428,750 $3,312 2.47%
USDA 1 $305,000 $305,000 $5,794 2.63%

For the 2021 period, Poli Mortgage Group 's most frequently originated loan type of loans were Conventional, with 1,220 originations. Their 2nd most popular type is FHA, with 8 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 1,025 $413,795,000 $403,702 $886 2.75%
Home Purchase 212 $102,520,000 $483,585 $2,326 2.92%

For the 2021, Poli Mortgage Group 's most frequently cited loan purpose of loans were Refi, with 1,025 originations. The 2nd most popular reason of loans were Home Purchase, with 212 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 874 $378,120,000 $432,632 $1,200 2.92%
15 Year 231 $91,445,000 $395,866 $959 2.30%
20 Year 86 $31,340,000 $364,419 $1,049 2.65%
Other 27 $9,515,000 $352,407 $870 2.81%
10 Year 19 $5,895,000 $310,263 $994 2.30%

For the 2021, Poli Mortgage Group 's most frequently cited loan length of loans were 30 Year, with 874 originations. The 2nd most popular length of loans were 15 Year, with 231 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,202 $501,370,000 $417,113
$1k-2k 19 $7,325,000 $385,526
$2k-3k 6 $3,170,000 $528,333
$5k+ 3 $1,805,000 $601,667
$3k-4k 2 $890,000 $445,000

$1,200 of loans were Poli Mortgage Group 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,202 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 594 $250,660,000 $421,987
<2.5% 376 $161,810,000 $430,346
3-4% 264 $102,750,000 $389,205
4-5% 3 $1,095,000 $365,000

During 2021, Poli Mortgage Group 's average interest rate of loans were 2.92%, while their most frequently originated rate bucket of loans were 2.5-3%, with 594 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 555 $173,775,000 $313,108 $1,135 2.81%
$400k-600k 513 $251,105,000 $489,483 $1,058 2.69%
$600k-1MM 114 $80,290,000 $704,298 $1,186 2.86%
$100k-200k 52 $8,810,000 $169,423 $1,722 3.01%
$1MM+ 2 $2,240,000 $1,120,000 $1,590 3.31%
$100,000 or less 1 $95,000 $95,000 $1,928 4.00%

2021 saw Poli Mortgage Group place emphasis on $200k-400k loans with 555 originations, totaling $173,775,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 423 $190,305,000 $449,894 $962 2.71%
$100k-150k 360 $140,360,000 $389,889 $1,247 2.74%
$250k+ 226 $114,560,000 $506,903 $1,044 2.81%
$75k-100k 134 $45,390,000 $338,731 $1,132 2.87%
$50k-75k 77 $21,325,000 $276,948 $1,647 2.99%
$50k or less 16 $4,190,000 $261,875 $2,065 2.93%

Poli Mortgage Group lent most frequently to those with incomes in the $150k-250k range, with 423 originations. The second most popular income band? $100k-150k, with 360 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 321 $131,235,000 $408,832 $992 2.69%
30-36% 262 $107,930,000 $411,947 $1,094 2.74%
<20% 131 $50,865,000 $388,282 $771 2.66%
44% 49 $23,055,000 $470,510 $1,667 2.80%
36% 47 $20,895,000 $444,574 $1,353 2.84%
39% 46 $19,370,000 $421,087 $1,018 2.85%
37% 40 $17,540,000 $438,500 $1,282 2.88%
45% 40 $16,630,000 $415,750 $1,018 2.87%
43% 38 $16,330,000 $429,737 $1,733 2.93%
38% 38 $16,650,000 $438,158 $876 2.87%
49% 38 $16,930,000 $445,526 $1,401 2.84%
42% 34 $15,810,000 $465,000 $1,031 3.07%
48% 33 $15,035,000 $455,606 $1,694 2.93%
47% 32 $13,010,000 $406,563 $1,679 2.90%
40% 30 $12,710,000 $423,667 $1,131 2.85%
46% 28 $10,690,000 $381,786 $1,594 2.95%
41% 24 $9,230,000 $384,583 $1,044 2.78%
50-60% 1 $245,000 $245,000 $1,575 3.13%

Poli Mortgage Group lent most frequently to those with DTI ratios of 20-30%, with 321 originations. The next most common DTI ratio? 30-36%, with 262 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 808 $320,440,000 $396,584 $1,280 2.78%
Asian 361 $168,745,000 $467,438 $758 2.79%
Not provided 51 $20,695,000 $405,784 $1,313 2.66%
Black 12 $4,100,000 $341,667 $2,086 2.80%
Chinese 3 $1,495,000 $498,333 $510 2.67%
Asian Indian 2 $840,000 $420,000 $510 2.13%

Approval Rates

Total approvals of all applications
97.09%

Poli Mortgage Group 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
93.91%

Poli Mortgage Group has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,237 $516,315,000 $417,393

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,237 $516,315,000 $417,393

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 161 $53,965,000 $335,186 $1,043 2.68%
40-60% 410 $166,890,000 $407,049 $737 2.69%
60-80% 545 $241,555,000 $443,220 $1,239 2.85%
80-100% 112 $50,940,000 $454,821 $2,183 2.82%
Under 20% 9 $2,965,000 $329,444 $1,410 3.10%