Atlantis Mortgage Co. Rates, Fees & Info

WEST LONG BRANCH, NJ

LEI: 549300YDTDBXLK67CF48

Tax ID: 22-2745048

2.5 stars - Updated: 2/19/24 - out of 5 stars, based on 7 reviews

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

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Mortgage Data

Review & Overview

Atlantis Mortgage Co. is a smaller mortgage company specializing in Home Purchase and Refi loans. Atlantis Mortgage Co. has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top two markets are New York and Atlantic City .

Atlantis Mortgage Co. 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. Atlantis Mortgage Co. 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 7.26% 2/19/24
30 Year Conventional Refi 7.03% 2/19/24
30 Year FHA Purchase 8.63% 2/19/24
30 Year FHA Refi 7.53% 2/19/24
30 Year VA Purchase 6.35% 2/19/24
15 Year Conventional Refi 6.02% 2/19/24
15 Year Cash-out Refi 6.02% 2/19/24
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.

Atlantis Mortgage Co. Mortgage Calculator






Your Estimates

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

This is not an official calculator from Atlantis Mortgage Co.. 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

55

Origination Dollar Volume (All Markets)

$19,265,000

Awards

ATLANTIS MORTGAGE CO. 30 Year Conventional Loans silver ATLANTIS MORTGAGE CO. 30 Year Conventional Loans silver
Show all (2) awards

Relative Rate

Atlantis Mortgage Co.'s average 30 year fixed mortgage rate was 5.27%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.51%.

Relative Fees (Closing Costs)

Atlantis Mortgage Co.'s average total fees/closing costs for a 30 year fixed rate mortgage were $7,417.

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 $4,750.

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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 53 $18,585,000 $350,660 $7,233 5.08%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $680,000 $340,000 $8,790 6.13%
Atlantis Mortgage Co.'s top markets include New York and Atlantic City among others.

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

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

    N C P D Federal Credit Union
    Similarity Rank: 306
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 326
    Schuyler Savings Bank
    Similarity Rank: 352
    SOUTH JERSEY
    Similarity Rank: 423
    The Atlantic Federal Credit Union
    Similarity Rank: 588
    U S WIDE FINANCIAL LLC
    Similarity Rank: 624
    Ridgewood Savings Bank
    Similarity Rank: 1062
    Poli Mortgage Group, Inc.
    Similarity Rank: 1073

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 46 $15,330,000 $333,261 $5,909 5.05%
    FHA 8 $3,470,000 $433,750 $14,527 5.52%
    VA 1 $465,000 $465,000 $12,898 5.25%

    For 2022, Atlantis Mortgage Co.'s most frequently originated type of loan was Conventional, with 46 originations. Their 2nd most popular type was FHA, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 40 $14,880,000 $372,000 $8,125 5.53%
    Refi 15 $4,385,000 $292,333 $5,061 4.07%

    For 2022, Atlantis Mortgage Co.'s most frequently cited loan purpose was Home Purchase, with 40 originations. The 2nd most popular reason was Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 50 $17,660,000 $353,200 $7,417 5.27%
    15 Year 3 $735,000 $245,000 $3,200 2.54%
    Other 2 $870,000 $435,000 $10,218 5.25%

    For 2022, Atlantis Mortgage Co.'s most frequently cited loan duration was 30 Year, with 50 originations. The 2nd most popular length was 15 Year, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 22 $7,260,000 $330,000
    $2k-3k 4 $1,620,000 $405,000
    $5k+ 3 $1,565,000 $521,667
    $3k-4k 2 $800,000 $400,000
    $4k-5k 1 $365,000 $365,000

    Atlantis Mortgage Co.'s average total fees were $7,417, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 22 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 14 $5,310,000 $379,286
    4-5% 13 $3,705,000 $285,000
    6-7% 12 $4,410,000 $367,500
    3-4% 9 $3,415,000 $379,444
    <2.5% 2 $310,000 $155,000
    2.5-3% 2 $1,050,000 $525,000
    7-8% 2 $630,000 $315,000

    During 2022, Atlantis Mortgage Co.'s average interest rate for loans was 5.27%, while their most frequently originated rate bucket for loans was 5-6%, with 14 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 20 $5,960,000 $298,000 $6,125 5.06%
    $400k-600k 17 $8,055,000 $473,824 $11,387 5.23%
    $100k-200k 11 $1,855,000 $168,636 $3,825 5.06%
    $600k-1MM 5 $3,255,000 $651,000 $7,272 5.18%
    $100,000 or less 2 $140,000 $70,000 $3,185 5.06%

    2022 saw Atlantis Mortgage Co. place emphasis on $200k-400k loans with 20 originations, totaling $5,960,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 17 $6,925,000 $407,353 $7,584 4.87%
    $150k-250k 14 $6,640,000 $474,286 $8,984 5.29%
    $50k-75k 10 $2,200,000 $220,000 $4,701 4.95%
    $75k-100k 9 $2,365,000 $262,778 $7,248 5.30%
    $50k or less 3 $385,000 $128,333 $3,432 4.88%
    $250k+ 2 $750,000 $375,000 $11,829 6.62%

    Atlantis Mortgage Co. lent most frequently to those with incomes in the $100k-150k range, with 17 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% 10 $3,250,000 $325,000 $6,253 5.35%
    41% 7 $2,755,000 $393,571 $6,179 4.77%
    20-30% 7 $1,165,000 $166,429 $3,748 4.59%
    50-60% 3 $1,165,000 $388,333 $12,620 5.17%
    44% 3 $1,095,000 $365,000 $10,673 5.17%
    46% 3 $1,185,000 $395,000 $8,496 5.13%
    47% 3 $655,000 $218,333 $6,207 5.13%
    40% 2 $500,000 $250,000 $5,464 5.81%
    36% 2 $1,140,000 $570,000 $5,831 4.75%
    42% 2 $760,000 $380,000 $12,203 6.44%
    43% 2 $1,270,000 $635,000 $5,736 4.06%
    <20% 2 $750,000 $375,000 $11,829 6.62%
    45% 2 $800,000 $400,000 $4,312 4.00%
    37% 2 $810,000 $405,000 $5,316 4.44%
    38% 2 $890,000 $445,000 $13,208 6.00%
    49% 1 $555,000 $555,000 $16,805 6.25%
    39% 1 $85,000 $85,000 $3,083 5.38%

    Atlantis Mortgage Co. lent most frequently to those with DTI ratios of 30-36%, with 10 originations. The next most common DTI ratio? 41%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 54 $18,920,000 $350,370 $7,210 5.13%
    Asian 1 $345,000 $345,000 $11,540 4.88%

    Approval Rates

    Total approvals of all applications
    92.50%

    Atlantis Mortgage Co. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.18%

    Atlantis Mortgage Co. has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 55 $19,265,000 $350,273

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    55 $19,265,000 $350,273

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $455,000 $151,667 $4,093 4.75%
    40-60% 8 $2,210,000 $276,250 $3,708 4.20%
    60-80% 21 $7,715,000 $367,381 $7,236 5.42%
    80-100% 21 $8,745,000 $416,429 $9,554 5.24%
    Under 20% 2 $140,000 $70,000 $3,185 5.06%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Atlantic Union Bankshares, Inc. FHA mortgage Struggling to pay mortgage 1 100.0%