Allentown Mortgage Rates, Fees & Info
Allentown, PALEI: 549300YS7CHMGGRDEV77
Tax ID: 23-1499751
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Allentown is a smaller mortgage company specializing in Home Improvement, Refi, and Cash Out Refi loans. Allentown has a high proportion of conventional loans. Their top markets by origination volume include: Allentown, Reading, East Stroudsburg, Pottsville, and Philadelphia among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Allentown 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.
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 | 6.27% | 4/21/24 |
| 30 Year Cash-out Refi | 6.27% | 4/21/24 |
| 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. | ||
Allentown Mortgage Calculator
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Originations
103Origination Dollar Volume (All Markets)
$11,115,000Top 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 |
|---|---|---|---|---|---|
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 96 | $10,040,000 | $104,583 | $388 | 3.05% |
| READING, PA (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $562 | 3.33% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $575 | 3.75% |
| Pottsville, PA (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $0 | 2.50% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 2.50% |
Their top states include:
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We use machine learning to identify the top lenders compared against ALLENTOWN 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 |
|---|---|---|---|---|---|
| HELOC | 74 | $5,750,000 | $77,703 | n/a | 2.56% |
| Conventional | 29 | $5,365,000 | $185,000 | $408 | 4.27% |
For 2023, Allentown's most frequently originated type of loan was HELOC, with 74 originations. Their 2nd most popular type was Conventional, with 29 originations.
Loan Reason
For 2023, Allentown's most frequently cited loan purpose was Home Improvement, with 41 originations. The 2nd most popular reason was Refi, with 29 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 10 Year | 74 | $5,750,000 | $77,703 | $0 | 2.56% |
| 5 Year | 29 | $5,365,000 | $185,000 | $408 | 4.27% |
For 2023, Allentown's most frequently cited loan duration was 10 Year, with 74 originations. The 2nd most popular length was 5 Year, with 29 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 72 | $5,930,000 | $82,361 |
| 4-5% | 18 | $3,660,000 | $203,333 |
| 3-4% | 11 | $1,335,000 | $121,364 |
| 5-6% | 1 | $165,000 | $165,000 |
During 2023, Allentown's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was <2.5%, with 72 originations.
Loan Sizing
2023 saw Allentown place emphasis on $100,000 or less loans with 59 originations, totaling $3,065,000 in origination value.
Applicant Income
Allentown lent most frequently to those with incomes in the $100k-150k range, with 32 originations. The second most popular income band? $75k-100k, with 21 originations.
Applicant Debt to Income Ratio
Allentown lent most frequently to those with DTI ratios of 20-30%, with 36 originations. The next most common DTI ratio? <20%, with 28 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 103 | $11,115,000 | $107,913 | $408 | 3.05% |
Approval Rates
Total approvals of all applications97.22%
Allentown has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination98.06%
Allentown has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 103 | $11,115,000 | $107,913 |