Glendenning Mortgage Corporation Rates, Fees & Info
TOMS RIVER, NJLEI: 549300ZD18AVSD0OG331
Tax ID: 22-2999585
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Mortgage Data
Review & Overview
Glendenning Mortgage Corporation is a smaller mortgage company specializing in Home Purchase loans. Glendenning Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: New York, North Port, Philadelphia, Miami, and Atlantic City among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Glendenning Mortgage Corporation 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. Glendenning Mortgage Corporation is typically a high 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 relatively high 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 7.51% | 4/21/24 |
| 30 Year Conventional Purchase | 6.76% | 4/21/24 |
| 30 Year Conventional Refi | 6.87% | 4/21/24 |
| 30 Year Cash-out Refi | 5.66% | 4/21/24 |
| 30 Year FHA Purchase | 7.66% | 4/21/24 |
| 30 Year VA Purchase | 6.49% | 4/21/24 |
| 30 Year VA Refi | 6.69% | 4/21/24 |
| 15 Year Conventional Purchase | 6.22% | 4/21/24 |
| 15 Year Conventional Refi | 6.21% | 4/21/24 |
| 15 Year Cash-out Refi | 6.21% | 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. | ||
Glendenning Mortgage Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
138Origination Dollar Volume (All Markets)
$48,980,000Relative Rate
Glendenning Mortgage Corporation's average 30 year fixed mortgage rate was
6.87%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.39%.
Relative Fees (Closing Costs)
Glendenning Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate
mortgage were $10,974.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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) | 105 | $37,765,000 | $359,667 | $10,334 | 7.07% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 14 | $4,910,000 | $350,714 | $10,711 | 6.93% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 6 | $2,120,000 | $353,333 | $9,246 | 7.63% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $8,668 | 7.82% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 3 | $985,000 | $328,333 | $7,830 | 6.13% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $31,841 | 6.25% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $12,351 | 6.94% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $7,982 | 6.63% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $8,285 | 8.13% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,247 | 6.13% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,627 | 6.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against GLENDENNING MORTGAGE CORPORATION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 21
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Product Mix
For 2023, Glendenning Mortgage Corporation's most frequently originated type of loan was Conventional, with 115 originations. Their 2nd most popular type was FHA, with 20 originations.
Loan Reason
For 2023, Glendenning Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 95 originations. The 2nd most popular reason was Home Improvement, with 28 originations.
Loan Duration/Length
For 2023, Glendenning Mortgage Corporation's most frequently cited loan duration was 30 Year, with 120 originations. The 2nd most popular length was Other, with 8 originations.
Origination Fees/Closing Costs
Glendenning Mortgage Corporation's average total fees were $10,974, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 64 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 69 | $26,445,000 | $383,261 |
| 7-8% | 45 | $16,915,000 | $375,889 |
| 5-6% | 12 | $2,460,000 | $205,000 |
| Over 8% | 12 | $3,160,000 | $263,333 |
During 2023, Glendenning Mortgage Corporation's average interest rate for loans was 6.87%, while their most frequently originated rate bucket for loans was 6-7%, with 69 originations.
Loan Sizing
2023 saw Glendenning Mortgage Corporation place emphasis on $200k-400k loans with 60 originations, totaling $17,450,000 in origination value.
Applicant Income
Glendenning Mortgage Corporation lent most frequently to those with incomes in the $150k-250k range, with 38 originations. The second most popular income band? $100k-150k, with 32 originations.
Applicant Debt to Income Ratio
Glendenning Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 28 originations. The next most common DTI ratio? 20-30%, with 13 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.27%
Glendenning Mortgage Corporation has an average approval rate.
Pick Rate
Approvals leading to origination92.75%
Glendenning Mortgage Corporation has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 138 | $48,980,000 | $354,928 |