Poli Mortgage Group Rates, Fees & Info
Canton, MALEI: 549300OCQ8J0ZXMCTF89
Tax ID: 04-3554142
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Mortgage Data
Review & 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.) Their top markets by origination volume include: Boston, Providence, Worcester, Barnstable Town, and New York among others. We have data for 44 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 an above 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.35% | 4/18/24 |
| 30 Year Conventional Refi | 6.61% | 4/18/24 |
| 30 Year Cash-out Refi | 6.30% | 4/18/24 |
| 30 Year FHA Purchase | 6.68% | 4/18/24 |
| 30 Year FHA Refi | 7.55% | 4/18/24 |
| 30 Year VA Purchase | 6.27% | 4/18/24 |
| 30 Year VA Refi | 5.73% | 4/18/24 |
| 15 Year Conventional Purchase | 5.07% | 4/18/24 |
| 15 Year Conventional Refi | 5.89% | 4/18/24 |
| 15 Year Cash-out Refi | 5.89% | 4/18/24 |
| 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. | ||
Poli Mortgage Group Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,826Origination Dollar Volume (All Markets)
$726,470,000Awards
Poli Mortgage Group - 2020
Poli Mortgage Group is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 1,324 | $547,190,000 | $413,285 | $547 | 2.91% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 104 | $34,180,000 | $328,654 | $936 | 2.91% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 84 | $28,230,000 | $336,071 | $803 | 2.96% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 61 | $23,015,000 | $377,295 | $584 | 2.86% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 58 | $22,280,000 | $384,138 | $1,744 | 2.83% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 36 | $17,660,000 | $490,556 | $1,026 | 2.85% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 19 | $6,785,000 | $357,105 | $1,377 | 2.87% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 18 | $5,680,000 | $315,556 | $993 | 2.87% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 16 | $5,640,000 | $352,500 | $2,806 | 2.88% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 13 | $4,015,000 | $308,846 | $1,151 | 2.93% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 7 | $2,595,000 | $370,714 | $2,306 | 2.64% |
| Lebanon, NH-VT (FHA|USDA|VA) | 9 | $2,575,000 | $286,111 | $837 | 3.07% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 7 | $2,545,000 | $363,571 | $1,751 | 2.96% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 6 | $2,400,000 | $400,000 | $582 | 2.96% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 6 | $2,330,000 | $388,333 | $2,945 | 2.60% |
| Outside of Metro Areas | 5 | $2,175,000 | $435,000 | $1,157 | 2.70% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 6 | $1,760,000 | $293,333 | $987 | 2.73% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 5 | $1,505,000 | $301,000 | $364 | 3.18% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $1,505,000 | $501,667 | $99 | 2.69% |
| Concord, NH (FHA|USDA|VA) | 4 | $1,230,000 | $307,500 | $513 | 2.53% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $1,697 | 3.25% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $1,030,000 | $515,000 | $2,711 | 2.25% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $970,000 | $485,000 | $99 | 2.88% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $1,675 | 3.17% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $427 | 2.69% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $2,315 | 3.13% |
| Vineyard Haven, MA (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $99 | 3.19% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $3,741 | 2.63% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $868 | 3.25% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $99 | 2.75% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $99 | 2.63% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $634 | 2.94% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $1,535 | 2.63% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $99 | 3.00% |
| Laconia, NH (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $117 | 2.75% |
| Torrington, CT (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $786 | 2.50% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,915 | 2.50% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $451 | 3.63% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $1,061 | 3.25% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $99 | 2.50% |
| FLORENCE, SC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,021 | 3.25% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,362 | 3.25% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,172 | 2.75% |
| OCALA, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,155 | 3.25% |
Their top states include:
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,808 | $720,210,000 | $398,346 | $682 | 2.91% |
| VA | 12 | $4,400,000 | $366,667 | $1,597 | 2.50% |
| FHA | 6 | $1,860,000 | $310,000 | $6,469 | 2.90% |
For 2020, Poli Mortgage Group's most frequently originated type of loan was Conventional, with 1,808 originations. Their 2nd most popular type was VA, with 12 originations.
Loan Reason
For 2020, Poli Mortgage Group's most frequently cited loan purpose was Refi, with 1,712 originations. The 2nd most popular reason was Home Purchase, with 111 originations.
Loan Duration/Length
For 2020, Poli Mortgage Group's most frequently cited loan duration was 30 Year, with 1,533 originations. The 2nd most popular length was 15 Year, with 191 originations.
Origination Fees/Closing Costs
Poli Mortgage Group's average total fees were $692, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,771 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 962 | $380,850,000 | $395,894 |
| 3-4% | 492 | $191,310,000 | $388,841 |
| <2.5% | 345 | $142,935,000 | $414,304 |
| 4-5% | 26 | $10,890,000 | $418,846 |
During 2020, Poli Mortgage Group's average interest rate for loans was 2.95%, while their most frequently originated rate bucket for loans was 2.5-3%, with 962 originations.
Loan Sizing
2020 saw Poli Mortgage Group place emphasis on $200k-400k loans with 907 originations, totaling $288,885,000 in origination value.
Applicant Income
Poli Mortgage Group lent most frequently to those with incomes in the $150k-250k range, with 627 originations. The second most popular income band? $100k-150k, with 578 originations.
Applicant Debt to Income Ratio
Poli Mortgage Group lent most frequently to those with DTI ratios of 20-30%, with 555 originations. The next most common DTI ratio? 30-36%, with 374 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.44%
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 origination96.44%
Poli Mortgage Group has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,826 | $726,470,000 | $397,848 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 1,826 | $726,470,000 | $397,848 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| POLI MORTGAGE GROUP, INC. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |