Atlantic Pacific Mortgage Rates, Fees & Info
MT. LAUREL, NJLEI: 549300TB6J826GO8CS96
Tax ID: 22-3753355
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Mortgage Data
Review & Overview
Atlantic Pacific Mortgage is a smaller mortgage company specializing in Home Purchase loans. Atlantic Pacific Mortgage has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Philadelphia, New York, Atlantic City, Ocean City, and Trenton among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Atlantic Pacific Mortgage 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. Atlantic Pacific Mortgage 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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Originations
203Origination Dollar Volume (All Markets)
$39,655,000Awards
Atlantic Pacific Mortgage - 2018
Atlantic Pacific Mortgage is a 2018 , due to their low .
For 2018, 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 |
|---|---|---|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 125 | $25,225,000 | $201,800 | $5,855 | 4.87% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 19 | $5,135,000 | $270,263 | $9,142 | 4.87% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 24 | $3,440,000 | $143,333 | $5,282 | 4.81% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 7 | $1,405,000 | $200,714 | $4,519 | 5.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 8 | $1,110,000 | $138,750 | $3,650 | 4.91% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $6,473 | 4.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $3,445 | 4.88% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $8,106 | 4.94% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $4,262 | 4.63% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $2,063 | 4.44% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 4 | $320,000 | $80,000 | $3,724 | 5.44% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $3,729 | 4.63% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,867 | 5.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,239 | 5.13% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $7,716 | 4.25% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,908 | 4.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Atlantic Pacific Mortgage 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
For 2018, Atlantic Pacific Mortgage's most frequently originated type of loan was Conventional, with 110 originations. Their 2nd most popular type was FHA, with 82 originations.
Loan Reason
For 2018, Atlantic Pacific Mortgage's most frequently cited loan purpose was Home Purchase, with 167 originations. The 2nd most popular reason was Cash Out Refi, with 27 originations.
Loan Duration/Length
For 2018, Atlantic Pacific Mortgage's most frequently cited loan duration was 30 Year, with 189 originations. The 2nd most popular length was 15 Year, with 7 originations.
Origination Fees/Closing Costs
Atlantic Pacific Mortgage's average total fees were $5,969, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 105 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 130 | $25,720,000 | $197,846 |
| 5-6% | 57 | $10,515,000 | $184,474 |
| 3-4% | 12 | $2,210,000 | $184,167 |
| 6-7% | 3 | $595,000 | $198,333 |
| 7-8% | 1 | $615,000 | $615,000 |
During 2018, Atlantic Pacific Mortgage's average interest rate for loans was 4.90%, while their most frequently originated rate bucket for loans was 4-5%, with 130 originations.
Loan Sizing
2018 saw Atlantic Pacific Mortgage place emphasis on $100k-200k loans with 106 originations, totaling $15,700,000 in origination value.
Applicant Income
Atlantic Pacific Mortgage lent most frequently to those with incomes in the $50k-75k range, with 64 originations. The second most popular income band? $50k or less, with 52 originations.
Applicant Debt to Income Ratio
Atlantic Pacific Mortgage lent most frequently to those with DTI ratios of 50-60%, with 38 originations. The next most common DTI ratio? 30-36%, with 35 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.21%
Atlantic Pacific Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination63.55%
Atlantic Pacific Mortgage has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 203 | $39,655,000 | $195,345 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 203 | $39,655,000 | $195,345 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| ATLANTIC PACIFIC MORTGAGE CORP | FHA mortgage | Trouble during payment process | 1 | 50.0% |
| ATLANTIC PACIFIC MORTGAGE CORP | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |