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, Reading, East Stroudsburg, Pittsburgh, and Gettysburg among others. We have data for 8 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% | 12/16/24 |
| 30 Year Cash-out Refi | 6.27% | 12/16/24 |
| 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
75Origination Dollar Volume (All Markets)
$7,325,000Top 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) | 65 | $6,375,000 | $98,077 | $386 | 3.13% |
| READING, PA (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $499 | 3.92% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $499 | 4.25% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $648 | 3.75% |
| Outside of Metro Areas | 2 | $90,000 | $45,000 | $335 | 3.13% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 2.50% |
| 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% |
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 | 39 | $2,505,000 | $64,231 | n/a | 2.50% |
| Conventional | 36 | $4,820,000 | $133,889 | $402 | 3.88% |
For 2020, Allentown's most frequently originated type of loan was HELOC, with 39 originations. Their 2nd most popular type was Conventional, with 36 originations.
Loan Reason
For 2020, Allentown's most frequently cited loan purpose was Refi, with 31 originations. The 2nd most popular reason was Home Improvement, with 24 originations.
Loan Duration/Length
For 2020, Allentown's most frequently cited loan duration was 10 Year, with 42 originations. The 2nd most popular length was Other, with 16 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 39 | $2,505,000 | $64,231 |
| 3-4% | 28 | $3,830,000 | $136,786 |
| 4-5% | 8 | $990,000 | $123,750 |
During 2020, Allentown's average interest rate for loans was 4.00%, while their most frequently originated rate bucket for loans was <2.5%, with 39 originations.
Loan Sizing
2020 saw Allentown place emphasis on $100,000 or less loans with 47 originations, totaling $2,615,000 in origination value.
Applicant Income
Allentown lent most frequently to those with incomes in the $150k-250k range, with 25 originations. The second most popular income band? $50k-75k, with 18 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 21 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 73 | $7,105,000 | $97,329 | $405 | 3.15% |
| Black | 2 | $220,000 | $110,000 | $367 | 3.75% |
Approval Rates
Total approvals of all applications96.30%
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 | 75 | $7,325,000 | $97,667 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 75 | $7,325,000 | $97,667 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| ALLIANT CREDIT UNION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 5 | 45.5% |
| ALLIANT CREDIT UNION | Conventional home mortgage | Trouble during payment process | 4 | 36.4% |
| ALLIANT CREDIT UNION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 9.1% |
| ALLIANT CREDIT UNION | Other type of mortgage | Trouble during payment process | 1 | 9.1% |