Federated Lending Corporation Mortgage Rates, Fees & Info
Yardley, PALEI: 549300PTGESTLYZT6Z63
Tax ID: 23-2873640
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Mortgage Data
Review & Overview
Federated Lending Corporation is a smaller mortgage company specializing in Home Purchase loans. Federated Lending Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Philadelphia, Ocean City, Trenton, New York, and Allentown among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Federated Lending Corporation 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. Federated Lending Corporation is typically an average 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 | 6.15% | 4/21/24 |
| 30 Year Conventional Refi | 6.27% | 4/21/24 |
| 30 Year Cash-out Refi | 6.27% | 4/21/24 |
| 30 Year FHA Purchase | 6.27% | 4/21/24 |
| 30 Year VA Purchase | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 5.68% | 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. | ||
Federated Lending Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
74Origination Dollar Volume (All Markets)
$28,550,000Top 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) | 69 | $25,835,000 | $374,420 | $6,245 | 4.56% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $1,385,000 | $1,385,000 | $11,268 | 3.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $3,553 | 3.38% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $4,751 | 4.75% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,991 | 6.50% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against FEDERATED LENDING CORPORATION 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 | 67 | $26,465,000 | $395,000 | $5,690 | 4.43% |
| FHA | 6 | $1,760,000 | $293,333 | $10,686 | 5.31% |
| VA | 1 | $325,000 | $325,000 | $12,126 | 6.63% |
For 2022, Federated Lending Corporation's most frequently originated type of loan was Conventional, with 67 originations. Their 2nd most popular type was FHA, with 6 originations.
Loan Reason
For 2022, Federated Lending Corporation's most frequently cited loan purpose was Home Purchase, with 57 originations. The 2nd most popular reason was Cash Out Refi, with 13 originations.
Loan Duration/Length
For 2022, Federated Lending Corporation's most frequently cited loan duration was 30 Year, with 68 originations. The 2nd most popular length was 15 Year, with 4 originations.
Origination Fees/Closing Costs
Federated Lending Corporation's average total fees were $6,354, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 44 originations.
Interest Rates
During 2022, Federated Lending Corporation's average interest rate for loans was 4.66%, while their most frequently originated rate bucket for loans was 3-4%, with 25 originations.
Loan Sizing
2022 saw Federated Lending Corporation place emphasis on $200k-400k loans with 41 originations, totaling $12,195,000 in origination value.
Applicant Income
Federated Lending Corporation lent most frequently to those with incomes in the $100k-150k range, with 21 originations. The second most popular income band? $75k-100k, with 15 originations.
Applicant Debt to Income Ratio
Federated Lending Corporation lent most frequently to those with DTI ratios of 20-30%, with 13 originations. The next most common DTI ratio? 30-36%, with 12 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 68 | $26,130,000 | $384,265 | $6,269 | 4.50% |
| Asian | 6 | $2,420,000 | $403,333 | $5,294 | 4.98% |
Approval Rates
Total approvals of all applications100.00%
Federated Lending Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination79.73%
Federated Lending Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 74 | $28,550,000 | $385,811 |