Allentown Mortgage Rates, Fees & Info
Allentown, PALEI: 549300YS7CHMGGRDEV77
Tax ID: 23-1499751
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
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, Reading, Philadelphia, and Scranton 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. 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 5/4/24 |
| 30 Year Cash-out Refi | 6.27% | 5/4/24 |
| 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
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Allentown. 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
111Origination Dollar Volume (All Markets)
$11,805,000Top 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) | 105 | $11,435,000 | $108,905 | $432 | 3.18% |
| READING, PA (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $280 | 3.33% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 2.50% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 2.50% |
| Outside of Metro Areas | 1 | $15,000 | $15,000 | $0 | 2.50% |
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.
Similarity Rank: 266
Similarity Rank: 276
Similarity Rank: 280
Similarity Rank: 572
Similarity Rank: 869
Similarity Rank: 1175
Similarity Rank: 1536
Similarity Rank: 1632
Similarity Rank: 1674
Similarity Rank: 1802
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 56 | $3,520,000 | $62,857 | n/a | 2.50% |
| Conventional | 55 | $8,285,000 | $150,636 | $425 | 3.84% |
For 2019, Allentown's most frequently originated type of loan was HELOC, with 56 originations. Their 2nd most popular type was Conventional, with 55 originations.
Loan Reason
For 2019, Allentown's most frequently cited loan purpose was Refi, with 55 originations. The 2nd most popular reason was Cash Out Refi, with 26 originations.
Loan Duration/Length
For 2019, Allentown's most frequently cited loan duration was 10 Year, with 42 originations. The 2nd most popular length was Other, with 37 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 56 | $3,520,000 | $62,857 |
| 3-4% | 46 | $6,400,000 | $139,130 |
| 4-5% | 9 | $1,885,000 | $209,444 |
During 2019, Allentown's average interest rate for loans was 3.79%, while their most frequently originated rate bucket for loans was <2.5%, with 56 originations.
Loan Sizing
2019 saw Allentown place emphasis on $100,000 or less loans with 57 originations, totaling $2,935,000 in origination value.
Applicant Income
Allentown lent most frequently to those with incomes in the $100k-150k range, with 34 originations. The second most popular income band? $50k-75k, with 28 originations.
Applicant Debt to Income Ratio
Allentown lent most frequently to those with DTI ratios of <20%, with 43 originations. The next most common DTI ratio? 30-36%, with 32 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 111 | $11,805,000 | $106,351 | $425 | 3.16% |
Approval Rates
Total approvals of all applications95.69%
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 |
|---|---|---|---|
| 160.0 | 57 | $3,565,000 | $62,544 |
| 210.0 | 1 | $25,000 | $25,000 |
| NA | 53 | $8,215,000 | $155,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 111 | $11,805,000 | $106,351 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Allen Tate Mortgage Services | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |