We compare mortgage interest rate and loan related closing costs at Atlantic Financial Inc with other lenders for mortgages with similar borrower characteristics:
Interest Rate: similar to average (-0.01%)
Loan Related Closing Costs: lower than average (-$1107)
Assessment: this lender tends to be a cheap lender.
This scoreboard is based on data reported to FFIEC. In the data, Atlantic Financial Inc originated 113 mortgages, a national market share of 0.0%. It was most active in MD (0.1% market share), VA (0.0% market share), and DC (0.0% market share).
On average, Atlantic Financial Inc’s interest rates were similar to those of comparable mortgages at other lenders (-0.01%).1The comparable mortgages control for Atlantic Financial Inc’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $3987, which was lower than those of comparable mortgages at $5094, with a difference of -$1107. Overall, we estimate that Atlantic Financial Inc tends to be an cheap lender, with a cost-adjusted-rate difference of -0.07% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Atlantic Financial Inc.
Atlantic Financial Inc originated Conforming mortgages for new home purchases. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:
Home Purchase Mortgages from Atlantic Financial Inc compared to other lenders
|Interest Rate Difference||-0.01%|
|Loan related Closing Cost Difference||-$1107|
|Cost Adjusted Rate Difference||-0.07%|
Based on the table above, Atlantic Financial Inc is cheap for Conforming purchase mortgages.
Other information about Atlantic Financial Inc:
Regulator: United States Department of Housing and Urban Development (HUD)
Registered city and state: Beltsville, MD, 20705