Atlantis Mortgage Co. Rates, Fees & Info
WEST LONG BRANCH, NJLEI: 549300YDTDBXLK67CF48
Tax ID: 22-2745048
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Mortgage Data
Review & Overview
Atlantis Mortgage Co. is a smaller mortgage company specializing in Refi and Home Purchase loans. Atlantis Mortgage Co. has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: New York, Trenton, Philadelphia, and Atlantic City among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Atlantis Mortgage Co. has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Atlantis Mortgage Co. is typically a low 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.26% | 11/21/24 |
| 30 Year Conventional Refi | 7.03% | 11/21/24 |
| 30 Year FHA Purchase | 8.63% | 11/21/24 |
| 30 Year FHA Refi | 7.53% | 11/21/24 |
| 30 Year VA Purchase | 6.35% | 11/21/24 |
| 15 Year Conventional Refi | 6.02% | 11/21/24 |
| 15 Year Cash-out Refi | 6.02% | 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. | ||
Atlantis Mortgage Co. Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
147Origination Dollar Volume (All Markets)
$49,825,000Awards
ATLANTIS MORTGAGE CO. - 2021
ATLANTIS MORTGAGE CO. is a 2021 , due to their low .
For 2021, 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 141 | $48,415,000 | $343,369 | $4,276 | 2.91% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $3,530 | 2.92% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $3,268 | 2.63% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,104 | 2.63% |
Their top states include:
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 141 | $47,255,000 | $335,142 | $3,922 | 2.90% |
| FHA | 6 | $2,570,000 | $428,333 | $12,342 | 2.96% |
For 2021, Atlantis Mortgage Co.'s most frequently originated type of loan was Conventional, with 141 originations. Their 2nd most popular type was FHA, with 6 originations.
Loan Reason
For 2021, Atlantis Mortgage Co.'s most frequently cited loan purpose was Refi, with 98 originations. The 2nd most popular reason was Home Purchase, with 42 originations.
Loan Duration/Length
For 2021, Atlantis Mortgage Co.'s most frequently cited loan duration was 30 Year, with 122 originations. The 2nd most popular length was 15 Year, with 14 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 144 | $48,890,000 | $339,514 |
| $1k-2k | 1 | $315,000 | $315,000 |
| $3k-4k | 1 | $295,000 | $295,000 |
| $5k+ | 1 | $325,000 | $325,000 |
Atlantis Mortgage Co.'s average total fees were $4,470, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 144 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 86 | $28,760,000 | $334,419 |
| 3-4% | 37 | $12,945,000 | $349,865 |
| <2.5% | 18 | $5,690,000 | $316,111 |
| 4-5% | 1 | $355,000 | $355,000 |
During 2021, Atlantis Mortgage Co.'s average interest rate for loans was 2.96%, while their most frequently originated rate bucket for loans was 2.5-3%, with 86 originations.
Loan Sizing
2021 saw Atlantis Mortgage Co. place emphasis on $200k-400k loans with 87 originations, totaling $25,595,000 in origination value.
Applicant Income
Atlantis Mortgage Co. lent most frequently to those with incomes in the $100k-150k range, with 43 originations. The second most popular income band? $150k-250k, with 30 originations.
Applicant Debt to Income Ratio
Atlantis Mortgage Co. lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? 30-36%, with 28 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.78%
Atlantis Mortgage Co. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination91.84%
Atlantis Mortgage Co. has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 147 | $49,825,000 | $338,946 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| ATLANTIC BAY MORTGAGE GROUP LLC | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 9.1% |
| ATLANTIC BAY MORTGAGE GROUP LLC | Conventional home mortgage | Trouble during payment process | 5 | 45.5% |
| ATLANTIC BAY MORTGAGE GROUP LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 9.1% |
| ATLANTIC BAY MORTGAGE GROUP LLC | Conventional home mortgage | Struggling to pay mortgage | 1 | 9.1% |
| ATLANTIC BAY MORTGAGE GROUP LLC | FHA mortgage | Trouble during payment process | 1 | 9.1% |
| ATLANTIC BAY MORTGAGE GROUP LLC | VA mortgage | Trouble during payment process | 2 | 18.2% |