Allentown Mortgage Rates, Fees & Info
Allentown, PALEI: 549300YS7CHMGGRDEV77
Tax ID: 23-1499751
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Mortgage Data
Review & Overview
Allentown is a smaller mortgage company specializing in Refi and Cash Out Refi loans. Allentown has a high proportion of conventional loans. Their top markets by origination volume include: Allentown, Philadelphia, and Reading among others. We have data for 3 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. Allentown 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 | 6.27% | 11/17/24 |
| 30 Year Cash-out Refi | 6.27% | 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. | ||
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Originations
60Origination Dollar Volume (All Markets)
$5,290,000Top 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) | 52 | $4,550,000 | $87,500 | $385 | 3.07% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 6 | $420,000 | $70,000 | $0 | 2.50% |
| READING, PA (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $280 | 3.75% |
Their top states include:
Similar Lenders
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 | 40 | $2,450,000 | $61,250 | n/a | 2.50% |
| Conventional | 20 | $2,840,000 | $142,000 | $373 | 4.10% |
For 2018, Allentown's most frequently originated type of loan was HELOC, with 40 originations. Their 2nd most popular type was Conventional, with 20 originations.
Loan Reason
For 2018, Allentown's most frequently cited loan purpose was Refi, with 26 originations. The 2nd most popular reason was Home Improvement, with 15 originations.
Loan Duration/Length
For 2018, Allentown's most frequently cited loan duration was 10 Year, with 43 originations. The 2nd most popular length was Other, with 8 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 40 | $2,450,000 | $61,250 |
| 3-4% | 12 | $1,690,000 | $140,833 |
| 4-5% | 8 | $1,150,000 | $143,750 |
During 2018, Allentown's average interest rate for loans was 4.14%, while their most frequently originated rate bucket for loans was <2.5%, with 40 originations.
Loan Sizing
2018 saw Allentown place emphasis on $100,000 or less loans with 35 originations, totaling $1,615,000 in origination value.
Applicant Income
Allentown lent most frequently to those with incomes in the $75k-100k range, with 18 originations. The second most popular income band? $50k-75k, with 15 originations.
Applicant Debt to Income Ratio
Allentown lent most frequently to those with DTI ratios of 20-30%, with 28 originations. The next most common DTI ratio? <20%, with 18 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 59 | $5,215,000 | $88,390 | $365 | 3.02% |
| Black | 1 | $75,000 | $75,000 | $499 | 3.75% |
Approval Rates
Total approvals of all applications95.24%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 60 | $5,290,000 | $88,167 |