Affinity Mortgage Rates, Fees & Info
Des Moines, IALEI: 549300Q0QG1CZF1H4O06
Tax ID: 42-0794732
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Mortgage Data
Review & Overview
Affinity is a smaller mortgage company specializing in Home Improvement and Refi loans. Affinity has a high proportion of conventional loans. Their top two markets are Des Moines and Ames .Affinity has an above average approval rate when compared to the average across all lenders. They typically have about average rates.
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Originations
43Origination Dollar Volume (All Markets)
$2,415,000Top 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 |
|---|---|---|---|---|---|
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 41 | $2,305,000 | $56,220 | $0 | 4.28% |
| Outside of Metro Areas | 1 | $65,000 | $65,000 | $0 | 3.50% |
| AMES, IA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 5.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 26 | $1,750,000 | $67,308 | $0 | 4.29% |
| HELOC | 17 | $665,000 | $39,118 | n/a | 4.26% |
For 2019, Affinity's most frequently originated type of loan was Conventional, with 26 originations. Their 2nd most popular type was HELOC, with 17 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 30 | $1,120,000 | $37,333 | $0 | 4.50% |
| Refi | 12 | $1,190,000 | $99,167 | $0 | 3.69% |
| Home Purchase | 1 | $105,000 | $105,000 | $0 | 4.75% |
For 2019, Affinity's most frequently cited loan purpose was Home Improvement, with 30 originations. The 2nd most popular reason was Refi, with 12 originations.
Loan Duration/Length
For 2019, Affinity's most frequently cited loan duration was Other, with 13 originations. The 2nd most popular length was 15 Year, with 11 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 24 | $1,580,000 | $65,833 |
| $1k-2k | 2 | $170,000 | $85,000 |
Affinity's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 24 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 16 | $740,000 | $46,250 |
| 3-4% | 13 | $1,165,000 | $89,615 |
| <2.5% | 7 | $195,000 | $27,857 |
| 5-6% | 6 | $290,000 | $48,333 |
| 7-8% | 1 | $25,000 | $25,000 |
During 2019, Affinity's average interest rate for loans was 4.75%, while their most frequently originated rate bucket for loans was 4-5%, with 16 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 35 | $1,355,000 | $38,714 | $0 | 4.31% |
| $100k-200k | 8 | $1,060,000 | $132,500 | $0 | 4.15% |
2019 saw Affinity place emphasis on $100,000 or less loans with 35 originations, totaling $1,355,000 in origination value.
Applicant Income
Affinity lent most frequently to those with incomes in the $50k-75k range, with 14 originations. The second most popular income band? $100k-150k, with 10 originations.
Applicant Debt to Income Ratio
Affinity lent most frequently to those with DTI ratios of 20-30%, with 12 originations. The next most common DTI ratio? <20%, with 12 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Affinity has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 225.0 | 1 | $25,000 | $25,000 |
| 254.0 | 2 | $40,000 | $20,000 |
| 255.0 | 1 | $25,000 | $25,000 |
| 260.0 | 6 | $200,000 | $33,333 |
| 450.0 | 3 | $125,000 | $41,667 |
| 495.0 | 1 | $55,000 | $55,000 |
| NA | 29 | $1,945,000 | $67,069 |