Atlantic Home Lending Mortgage Rates, Fees & Info

Canton, MA

LEI: 549300QNSC8YFY70QR51

Tax ID: 20-3326484

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Mortgage Data

Review & Overview

Atlantic Home Lending is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Atlantic Home Lending 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, Manchester, Barnstable Town, and Worcester among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Atlantic Home Lending 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. Atlantic Home Lending 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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Originations

121

Origination Dollar Volume (All Markets)

$39,945,000

Awards

Atlantic Home Lending 30 Year Conventional Loans gold Atlantic Home Lending 30 Year Conventional Loans bronze
Show all (2) awards

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) 93 $31,655,000 $340,376 $1,743 4.07%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 9 $2,885,000 $320,556 $1,691 4.25%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 7 $1,915,000 $273,571 $4,861 3.96%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 6 $1,910,000 $318,333 $3,378 4.02%
WORCESTER, MA-CT (FHA|USDA|VA) 2 $680,000 $340,000 $0 4.06%
Concord, NH (FHA|USDA|VA) 2 $620,000 $310,000 $454 4.06%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $155,000 $155,000 $2,613 3.50%
Laconia, NH (FHA|USDA|VA) 1 $125,000 $125,000 $3,081 4.00%
Atlantic Home Lending's top markets include Boston, Providence, Manchester, Barnstable Town, and Worcester among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Atlantic Home Lending based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SOMERSET
    Similarity Rank: 26
    Rhode Island Credit Union
    Similarity Rank: 116
    Piscataqua Savings Bank
    Similarity Rank: 118
    First Ipswich Bank
    Similarity Rank: 139
    Middlesex Savings Bank
    Similarity Rank: 310
    OCEAN STATE CREDIT UNION
    Similarity Rank: 315
    BankNewport
    Similarity Rank: 315
    WAVE FEDERAL CREDIT UNION
    Similarity Rank: 348
    Bank Rhode Island
    Similarity Rank: 432
    QUINCY CREDIT UNION
    Similarity Rank: 435

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 117 $38,505,000 $329,103 $1,668 4.05%
    FHA 3 $1,025,000 $341,667 $7,010 4.71%
    VA 1 $415,000 $415,000 $16,531 4.25%

    For 2019, Atlantic Home Lending's most frequently originated type of loan was Conventional, with 117 originations. Their 2nd most popular type was FHA, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 62 $20,420,000 $329,355 $1,028 3.92%
    Cash Out Refi 31 $9,715,000 $313,387 $2,288 4.23%
    Home Purchase 28 $9,810,000 $350,357 $3,429 4.21%

    For 2019, Atlantic Home Lending's most frequently cited loan purpose was Refi, with 62 originations. The 2nd most popular reason was Cash Out Refi, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 95 $32,865,000 $345,947 $2,130 4.21%
    15 Year 13 $2,895,000 $222,692 $1,815 3.51%
    20 Year 8 $2,380,000 $297,500 $736 3.64%
    Other 5 $1,805,000 $361,000 $584 3.60%

    For 2019, Atlantic Home Lending's most frequently cited loan duration was 30 Year, with 95 originations. The 2nd most popular length was 15 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 98 $32,560,000 $332,245
    $<1k 3 $1,125,000 $375,000
    $2k-3k 1 $385,000 $385,000

    Atlantic Home Lending's average total fees were $2,130, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 98 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 65 $20,985,000 $322,846
    4-5% 51 $17,045,000 $334,216
    5-6% 5 $1,915,000 $383,000

    During 2019, Atlantic Home Lending's average interest rate for loans was 4.21%, while their most frequently originated rate bucket for loans was 3-4%, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 76 $23,590,000 $310,395 $1,917 4.04%
    $400k-600k 29 $13,145,000 $453,276 $1,743 4.16%
    $100k-200k 12 $1,810,000 $150,833 $2,334 4.06%
    $100,000 or less 2 $160,000 $80,000 $2,340 4.00%
    $600k-1MM 2 $1,240,000 $620,000 $2,934 4.00%

    2019 saw Atlantic Home Lending place emphasis on $200k-400k loans with 76 originations, totaling $23,590,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 37 $12,775,000 $345,270 $1,854 4.17%
    $150k-250k 29 $10,905,000 $376,034 $1,476 3.99%
    $75k-100k 27 $8,345,000 $309,074 $1,736 4.12%
    $50k-75k 16 $3,330,000 $208,125 $2,855 4.00%
    $250k+ 11 $4,415,000 $401,364 $2,686 3.94%
    $50k or less 1 $175,000 $175,000 $2,443 3.75%

    Atlantic Home Lending lent most frequently to those with incomes in the $100k-150k range, with 37 originations. The second most popular income band? $150k-250k, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 33 $11,425,000 $346,212 $1,841 3.96%
    30-36% 20 $6,580,000 $329,000 $1,488 4.16%
    <20% 14 $4,200,000 $300,000 $1,463 3.96%
    41% 7 $1,875,000 $267,857 $2,004 4.20%
    36% 6 $2,200,000 $366,667 $1,012 3.94%
    37% 6 $1,820,000 $303,333 $1,942 4.04%
    43% 5 $1,375,000 $275,000 $1,873 4.23%
    44% 5 $1,315,000 $263,000 $2,688 4.33%
    45% 5 $1,695,000 $339,000 $3,444 4.23%
    46% 5 $1,945,000 $389,000 $2,354 4.20%
    38% 4 $1,390,000 $347,500 $150 3.97%
    40% 3 $895,000 $298,333 $1,571 3.71%
    48% 2 $900,000 $450,000 $8,265 4.31%
    47% 2 $720,000 $360,000 $3,024 4.25%
    39% 2 $730,000 $365,000 $81 4.31%
    42% 2 $880,000 $440,000 $4,137 4.13%

    Atlantic Home Lending lent most frequently to those with DTI ratios of 20-30%, with 33 originations. The next most common DTI ratio? 30-36%, with 20 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 116 $38,270,000 $329,914 $1,909 4.07%
    Asian 3 $1,015,000 $338,333 $2,235 4.21%
    Not provided 1 $395,000 $395,000 $3,613 3.38%
    Black 1 $265,000 $265,000 $3,175 4.13%

    Approval Rates

    Total approvals of all applications
    97.64%

    Atlantic Home Lending 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
    97.52%

    Atlantic Home Lending 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 121 $39,945,000 $330,124

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 121 $39,945,000 $330,124

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $2,490,000 $207,500 $1,479 3.84%
    40-60% 27 $8,845,000 $327,593 $1,483 3.82%
    60-80% 47 $16,135,000 $343,298 $1,081 4.14%
    80-100% 31 $11,505,000 $371,129 $3,311 4.27%
    Over 100% 1 $415,000 $415,000 $16,531 4.25%
    Under 20% 3 $555,000 $185,000 $1,928 4.00%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Atlantic Mortgage and Funding, Inc. VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%