Pike Creek Mortgage Services Rates, Fees & Info
WILMINGTON, DELEI: 549300XED7IBK9VVQH70
Tax ID: 51-0370645
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Mortgage Data
Review & Overview
Pike Creek Mortgage Services is a smaller mortgage company specializing in Home Purchase loans. Pike Creek Mortgage Services has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Philadelphia, Dover, Salisbury, Baltimore, and Charleston among others. We have data for 30 markets. (Some data included below & more in-depth data is available with an active subscription.)Pike Creek Mortgage Services 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. Pike Creek Mortgage Services is typically a high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.80% | 11/17/24 |
| 30 Year Conventional Refi | 6.79% | 11/17/24 |
| 30 Year Cash-out Refi | 6.80% | 11/17/24 |
| 30 Year FHA Purchase | 7.75% | 11/17/24 |
| 30 Year FHA Refi | 7.02% | 11/17/24 |
| 30 Year VA Purchase | 6.53% | 11/17/24 |
| 30 Year VA Refi | 6.43% | 11/17/24 |
| 30 Year USDA Purchase | 7.23% | 11/17/24 |
| 15 Year Conventional Purchase | 6.16% | 11/17/24 |
| 15 Year Conventional Refi | 6.33% | 11/17/24 |
| 15 Year Cash-out Refi | 6.33% | 11/17/24 |
| 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. | ||
Pike Creek Mortgage Services Mortgage Calculator
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This is not an official calculator from Pike Creek Mortgage Services. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,103Origination Dollar Volume (All Markets)
$338,225,000Awards
PIKE CREEK MORTGAGE SERVICES - 2023
PIKE CREEK MORTGAGE SERVICES is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Pike Creek Mortgage Services's average 30 year fixed mortgage rate was
6.84%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.36%.
Relative Fees (Closing Costs)
Pike Creek Mortgage Services's average total fees/closing costs for a 30 year fixed rate
mortgage were $9,804.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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) | 763 | $222,975,000 | $292,235 | $9,281 | 6.84% |
| DOVER, DE (FHA|USDA|VA) | 162 | $54,950,000 | $339,198 | $11,372 | 6.77% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 103 | $33,495,000 | $325,194 | $10,008 | 6.94% |
| Outside of Metro Areas | 22 | $7,470,000 | $339,545 | $10,738 | 7.29% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 10 | $3,270,000 | $327,000 | $11,490 | 6.59% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 4 | $1,770,000 | $442,500 | $8,770 | 6.75% |
| LANCASTER, PA (FHA|USDA|VA) | 4 | $1,650,000 | $412,500 | $11,928 | 6.69% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $1,565,000 | $521,667 | $14,882 | 7.41% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $1,260,000 | $630,000 | $10,758 | 6.75% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $1,140,000 | $570,000 | $6,223 | 6.69% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 2 | $1,040,000 | $520,000 | $22,865 | 7.13% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $0 | 7.56% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $11,346 | 7.06% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $10,449 | 7.00% |
| RICHMOND, VA (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $7,894 | 6.50% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $5,550 | 7.50% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $17,112 | 6.13% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $10,938 | 7.13% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $11,454 | 6.49% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $9,722 | 6.94% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $5,850 | 6.63% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $6,672 | 9.50% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $6,717 | 6.63% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $9,936 | 7.50% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,136 | 7.99% |
| READING, PA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $14,852 | 7.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $8,610 | 6.13% |
| Easton, MD (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,226 | 6.63% |
| Elizabeth City, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $8,393 | 7.13% |
| Somerset, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,951 | 6.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against PIKE CREEK MORTGAGE SERVICES 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 2023, Pike Creek Mortgage Services's most frequently originated type of loan was Conventional, with 758 originations. Their 2nd most popular type was FHA, with 300 originations.
Loan Reason
For 2023, Pike Creek Mortgage Services's most frequently cited loan purpose was Home Purchase, with 1,049 originations. The 2nd most popular reason was Refi, with 33 originations.
Loan Duration/Length
For 2023, Pike Creek Mortgage Services's most frequently cited loan duration was 30 Year, with 1,078 originations. The 2nd most popular length was 15 Year, with 12 originations.
Origination Fees/Closing Costs
Pike Creek Mortgage Services's average total fees were $9,804, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 459 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 603 | $183,735,000 | $304,701 |
| 7-8% | 364 | $116,650,000 | $320,467 |
| 5-6% | 92 | $27,190,000 | $295,543 |
| Over 8% | 42 | $10,060,000 | $239,524 |
| 4-5% | 2 | $590,000 | $295,000 |
During 2023, Pike Creek Mortgage Services's average interest rate for loans was 6.84%, while their most frequently originated rate bucket for loans was 6-7%, with 603 originations.
Loan Sizing
2023 saw Pike Creek Mortgage Services place emphasis on $200k-400k loans with 665 originations, totaling $195,465,000 in origination value.
Applicant Income
Pike Creek Mortgage Services lent most frequently to those with incomes in the $100k-150k range, with 256 originations. The second most popular income band? $50k-75k, with 250 originations.
Applicant Debt to Income Ratio
Pike Creek Mortgage Services lent most frequently to those with DTI ratios of 30-36%, with 154 originations. The next most common DTI ratio? 50-60%, with 145 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.55%
Pike Creek Mortgage Services has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination82.86%
Pike Creek Mortgage Services has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,103 | $338,225,000 | $306,641 |