Advia Mortgage Rates, Fees & Info

Parchment, MI

LEI: 549300V3UW6HP83URS67

Tax ID: 38-1686050

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Advia is a smaller mortgage company specializing in Home Improvement, Other, and Refi loans. Advia has a high proportion of conventional loans. Their top markets include Detroit, Kalamazoo, Whitewater, Janesville, and Chicago among others. Advia has a below average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

1,406

Origination Dollar Volume (All Markets)

$113,690,000

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 436 $37,710,000 $86,491 $0 3.44%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 328 $23,880,000 $72,805 $0 3.39%
Whitewater, WI (FHA|USDA|VA) 87 $11,755,000 $135,115 $0 3.41%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 130 $8,060,000 $62,000 $0 3.35%
Outside of Metro Areas 114 $7,950,000 $69,737 $0 3.43%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 80 $7,650,000 $95,625 $0 3.44%
Holland, MI (FHA|USDA|VA) 66 $5,290,000 $80,152 $0 3.40%
BATTLE CREEK, MI (FHA|USDA|VA) 72 $4,770,000 $66,250 $0 3.43%
ROCKFORD, IL (FHA|USDA|VA) 28 $2,020,000 $72,143 $0 3.64%
RACINE, WI (FHA|USDA|VA) 5 $725,000 $145,000 $0 3.55%
Sturgis, MI (FHA|USDA|VA) 7 $665,000 $95,000 $0 3.18%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 12 $620,000 $51,667 $0 4.42%
MONROE, MI (FHA|USDA|VA) 9 $545,000 $60,556 $0 4.25%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 4 $450,000 $112,500 $0 3.88%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 4 $270,000 $67,500 $0 3.38%
Coldwater, MI (FHA|USDA|VA) 4 $200,000 $50,000 $0 3.00%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 2 $150,000 $75,000 $0 3.25%
MADISON, WI (FHA|USDA|VA) 2 $150,000 $75,000 $0 4.75%
ANN ARBOR, MI (FHA|USDA|VA) 2 $110,000 $55,000 $0 3.50%
Traverse City, MI (FHA|USDA|VA) 1 $105,000 $105,000 $0 2.75%
JACKSON, MI (FHA|USDA|VA) 2 $80,000 $40,000 $0 3.00%
FLINT, MI (FHA|USDA|VA) 2 $80,000 $40,000 $0 3.50%
Effingham, IL (FHA|USDA|VA) 1 $75,000 $75,000 $0 6.75%
Baraboo, WI (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.25%
Cadillac, MI (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.25%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.25%
NILES, MI (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.25%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.25%
MUSKEGON, MI (FHA|USDA|VA) 1 $45,000 $45,000 $0 2.75%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.25%
Alpena, MI (FHA|USDA|VA) 1 $15,000 $15,000 $0 4.25%

Advia's top markets include Detroit, Kalamazoo, Whitewater, Janesville, and Chicago among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,406 $113,690,000 $80,861 $0 3.44%

For the 2021 period, Advia's most frequently originated loan type of loans were Conventional, with 1,406 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Improvement 582 $36,350,000 $62,457 $0 3.34%
Other 422 $27,730,000 $65,711 $0 3.70%
Refi 306 $29,060,000 $94,967 $0 3.29%
Home Purchase 90 $16,760,000 $186,222 $0 3.37%
Cash Out Refi 6 $3,790,000 $631,667 $0 3.99%

For the 2021, Advia's most frequently cited loan purpose of loans were Home Improvement, with 582 originations. The 2nd most popular reason of loans were Other, with 422 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
20 Year 1,381 $100,305,000 $72,632 $0 3.43%
5 Year 14 $6,210,000 $443,571 $0 4.03%
10 Year 7 $5,805,000 $829,286 $0 3.94%
Other 3 $1,095,000 $365,000 $0 3.69%
1 Year 1 $275,000 $275,000 $0 4.50%

For the 2021, Advia's most frequently cited loan length of loans were 20 Year, with 1,381 originations. The 2nd most popular length of loans were 5 Year, with 14 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 761 $59,325,000 $77,957
3-4% 280 $28,860,000 $103,071
4-5% 213 $17,055,000 $80,070
5-6% 100 $5,480,000 $54,800
6-7% 49 $2,915,000 $59,490
7-8% 3 $55,000 $18,333

During 2021, Advia's average interest rate of loans were 0.00%, while their most frequently originated rate bucket of loans were 2.5-3%, with 761 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 1,093 $54,225,000 $49,611 $0 3.48%
$100k-200k 237 $30,765,000 $129,810 $0 3.27%
$200k-400k 56 $13,740,000 $245,357 $0 3.28%
$400k-600k 11 $5,325,000 $484,091 $0 3.52%
$600k-1MM 6 $4,180,000 $696,667 $0 3.70%
$1MM+ 3 $5,455,000 $1,818,333 $0 3.90%

2021 saw Advia place emphasis on $100,000 or less loans with 1,093 originations, totaling $54,225,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 445 $27,565,000 $61,944 $0 3.31%
$50k-75k 340 $22,180,000 $65,235 $0 3.40%
$100k-150k 244 $19,220,000 $78,770 $0 3.54%
$75k-100k 217 $15,665,000 $72,189 $0 3.55%
$150k-250k 116 $13,170,000 $113,534 $0 3.50%
$250k+ 20 $2,680,000 $134,000 $0 3.58%

Advia lent most frequently to those with incomes in the $50k or less range, with 445 originations. The second most popular income band? $50k-75k, with 340 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 393 $29,405,000 $74,822 $0 3.33%
30-36% 280 $18,970,000 $67,750 $0 3.59%
<20% 257 $20,625,000 $80,253 $0 3.00%
37% 66 $3,760,000 $56,970 $0 4.06%
36% 58 $3,960,000 $68,276 $0 4.00%
39% 58 $3,680,000 $63,448 $0 3.41%
38% 49 $3,225,000 $65,816 $0 3.66%
42% 46 $3,140,000 $68,261 $0 3.75%
41% 43 $2,905,000 $67,558 $0 3.61%
40% 30 $2,000,000 $66,667 $0 3.37%
43% 26 $1,320,000 $50,769 $0 3.10%
45% 20 $1,470,000 $73,500 $0 3.88%
44% 12 $1,210,000 $100,833 $0 3.08%
50-60% 9 $485,000 $53,889 $0 3.08%
46% 8 $1,050,000 $131,250 $0 3.31%
48% 8 $1,670,000 $208,750 $0 3.75%
49% 7 $485,000 $69,286 $0 3.11%
47% 6 $520,000 $86,667 $0 4.17%
>60% 5 $425,000 $85,000 $0 3.65%

Advia lent most frequently to those with DTI ratios of 20-30%, with 393 originations. The next most common DTI ratio? 30-36%, with 280 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,237 $91,355,000 $73,852 $0 3.42%
Not applicable 23 $12,755,000 $554,565 $0 3.95%
Not provided 87 $5,675,000 $65,230 $0 3.45%
Black 33 $1,965,000 $59,545 $0 3.95%
American Indian 18 $1,200,000 $66,667 $0 3.22%
3 $275,000 $91,667 $0 2.75%
Asian 3 $225,000 $75,000 $0 3.75%
Other Asian 1 $175,000 $175,000 $0 4.25%
Native Hawaiian 1 $65,000 $65,000 $0 3.75%

Approval Rates

Total approvals of all applications
68.70%

Advia has a low approval rate. They may have poor market targeting or stringent lending standards.

Pick Rate

Approvals leading to origination
65.54%

Advia 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 1,406 $113,690,000 $80,861

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,406 $113,690,000 $80,861

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 482 $30,090,000 $62,427 $0 3.40%
40-60% 280 $32,030,000 $114,393 $0 3.27%
60-80% 227 $25,845,000 $113,855 $0 3.17%
80-100% 27 $6,505,000 $240,926 $0 4.22%
Over 100% 7 $4,135,000 $590,714 $0 4.01%
Under 20% 383 $15,085,000 $39,386 $0 3.70%