Colonial Farm Credit Aca Mortgage Rates, Fees & Info

Mechanicsville, VA

LEI: 549300W4BRJPRFMIIL49

Tax ID: 54-1469169

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Colonial Farm Credit Aca is a smaller mortgage company specializing in Home Purchase, Home Improvement, and Refi loans. Colonial Farm Credit Aca has a high proportion of conventional loans. Their top markets by origination volume include: Richmond, Virginia Beach, California, Baltimore, and Washington among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Colonial Farm Credit Aca has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Colonial Farm Credit Aca 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 relatively high 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.85% 11/21/24
    15 Year Conventional Purchase 5.68% 11/21/24
    15 Year Conventional Refi 8.53% 11/21/24
    15 Year Cash-out Refi 8.53% 11/21/24
    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.

    Colonial Farm Credit Aca Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Colonial Farm Credit Aca. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    72

    Origination Dollar Volume (All Markets)

    $22,700,000

    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
    RICHMOND, VA (FHA|USDA|VA) 27 $7,095,000 $262,778 $5,223 5.23%
    Outside of Metro Areas 19 $4,035,000 $212,368 $5,336 5.34%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 8 $3,910,000 $488,750 $6,204 5.23%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 10 $3,130,000 $313,000 $4,923 5.11%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $3,005,000 $3,005,000 $17,075 5.00%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 5 $1,175,000 $235,000 $5,357 4.88%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 2 $350,000 $175,000 $5,373 5.19%
    Colonial Farm Credit Aca's top markets include Richmond, Virginia Beach, California, Baltimore, and Washington among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 72 $22,700,000 $315,278 $5,513 5.21%

    For 2021, Colonial Farm Credit Aca's most frequently originated type of loan was Conventional, with 72 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 25 $8,545,000 $341,800 $5,825 5.30%
    Home Improvement 24 $7,280,000 $303,333 $6,809 5.29%
    Refi 14 $4,880,000 $348,571 $3,292 4.92%
    Cash Out Refi 6 $1,240,000 $206,667 $3,738 5.19%
    Other 3 $755,000 $251,667 $5,873 5.33%

    For 2021, Colonial Farm Credit Aca's most frequently cited loan purpose was Home Purchase, with 25 originations. The 2nd most popular reason was Home Improvement, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 40 $13,230,000 $330,750 $5,898 5.25%
    20 Year 18 $7,070,000 $392,778 $6,158 5.34%
    15 Year 4 $430,000 $107,500 $3,370 4.91%
    30 Year 3 $945,000 $315,000 $6,290 5.42%
    10 Year 3 $335,000 $111,667 $1,044 4.75%
    5 Year 2 $140,000 $70,000 $1,869 4.13%
    30+ year 2 $550,000 $275,000 $5,765 5.44%

    For 2021, Colonial Farm Credit Aca's most frequently cited loan duration was Other, with 40 originations. The 2nd most popular length was 20 Year, with 18 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 21 $7,075,000 $336,905
    $1k-2k 15 $2,255,000 $150,333
    $<1k 10 $1,300,000 $130,000
    $3k-4k 7 $2,505,000 $357,857
    $4k-5k 7 $5,725,000 $817,857
    $5k+ 6 $3,170,000 $528,333

    Colonial Farm Credit Aca's average total fees were $6,290, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 21 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 46 $12,090,000 $262,826
    4-5% 26 $10,610,000 $408,077

    During 2021, Colonial Farm Credit Aca's average interest rate for loans was 5.42%, while their most frequently originated rate bucket for loans was 5-6%, with 46 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 25 $6,815,000 $272,600 $5,208 5.28%
    $100k-200k 19 $2,975,000 $156,579 $4,359 5.27%
    $100,000 or less 14 $950,000 $67,857 $1,817 4.99%
    $400k-600k 10 $5,020,000 $502,000 $8,786 5.30%
    $1MM+ 3 $6,015,000 $2,005,000 $11,851 5.00%
    $600k-1MM 1 $925,000 $925,000 $20,514 5.50%

    2021 saw Colonial Farm Credit Aca place emphasis on $200k-400k loans with 25 originations, totaling $6,815,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 16 $3,750,000 $234,375 $5,374 5.14%
    $150k-250k 14 $5,270,000 $376,429 $6,108 5.24%
    $75k-100k 12 $2,820,000 $235,000 $4,186 5.24%
    $50k or less 7 $1,285,000 $183,571 $4,469 5.45%
    $50k-75k 6 $1,080,000 $180,000 $5,387 5.38%
    $250k+ 5 $6,955,000 $1,391,000 $13,604 5.25%

    Colonial Farm Credit Aca lent most frequently to those with incomes in the $100k-150k range, with 16 originations. The second most popular income band? $150k-250k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 26 $8,790,000 $338,077 $6,420 5.22%
    20-30% 20 $4,670,000 $233,500 $5,198 5.26%
    <20% 3 $3,185,000 $1,061,667 $7,957 5.13%
    38% 1 $1,925,000 $1,925,000 $8,758 5.00%
    43% 1 $1,085,000 $1,085,000 $9,721 5.00%
    50-60% 1 $215,000 $215,000 $2,662 5.50%
    36% 1 $195,000 $195,000 $6,562 5.63%
    37% 1 $105,000 $105,000 $4,599 5.50%

    Colonial Farm Credit Aca lent most frequently to those with DTI ratios of 30-36%, with 26 originations. The next most common DTI ratio? 20-30%, with 20 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 52 $12,850,000 $247,115 $5,128 5.16%
    Not provided 18 $9,210,000 $511,667 $6,467 5.35%
    Black 1 $465,000 $465,000 $5,686 5.25%
    Asian Indian 1 $175,000 $175,000 $5,889 5.50%

    Approval Rates

    Total approvals of all applications
    87.25%

    Colonial Farm Credit Aca has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.39%

    Colonial Farm Credit Aca has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 72 $22,700,000 $315,278

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    72 $22,700,000 $315,278

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $1,245,000 $138,333 $4,384 5.22%
    40-60% 14 $3,520,000 $251,429 $5,142 5.04%
    60-80% 34 $14,800,000 $435,294 $6,272 5.31%
    80-100% 8 $2,450,000 $306,250 $6,865 5.39%
    Over 100% 3 $525,000 $175,000 $5,760 5.42%
    Under 20% 4 $160,000 $40,000 $424 4.44%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Colonial Mortgage Service Co. Of America Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%