M2 Lending Solutions Mortgage Rates, Fees & Info
Denver, COLEI: 2549002YTHQ90AS4OM73
Tax ID: 30-0217804
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Mortgage Data
Review & Overview
M2 Lending Solutions is a smaller mortgage company specializing in Refi loans. M2 Lending Solutions has a high proportion of conventional 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: Denver, Boulder, Colorado Springs, Greeley, and Fort Collins among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)M2 Lending Solutions has an above average approval rate when compared to the average across all lenders. M2 Lending Solutions 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 | 6.56% | 11/21/24 |
| 30 Year Conventional Refi | 6.35% | 11/21/24 |
| 30 Year Cash-out Refi | 6.69% | 11/21/24 |
| 30 Year FHA Purchase | 7.14% | 11/21/24 |
| 30 Year VA Purchase | 5.82% | 11/21/24 |
| 15 Year Conventional Purchase | 5.68% | 11/21/24 |
| 15 Year Conventional Refi | 5.90% | 11/21/24 |
| 15 Year Cash-out Refi | 5.90% | 11/21/24 |
| 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. | ||
M2 Lending Solutions Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
969Origination Dollar Volume (All Markets)
$334,415,000Awards
M2 Lending Solutions - 2020
M2 Lending Solutions is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 895 | $307,735,000 | $343,838 | $3,966 | 3.03% |
| BOULDER, CO (FHA|USDA|VA) | 15 | $6,835,000 | $455,667 | $4,054 | 2.92% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 15 | $5,505,000 | $367,000 | $5,912 | 3.25% |
| GREELEY, CO (FHA|USDA|VA) | 12 | $3,580,000 | $298,333 | $4,528 | 3.11% |
| Outside of Metro Areas | 9 | $3,375,000 | $375,000 | $4,094 | 3.17% |
| FORT COLLINS, CO (FHA|USDA|VA) | 8 | $2,940,000 | $367,500 | $3,552 | 3.17% |
| Breckenridge, CO (FHA|USDA|VA) | 6 | $2,390,000 | $398,333 | $3,171 | 2.71% |
| PUEBLO, CO (FHA|USDA|VA) | 4 | $750,000 | $187,500 | $4,926 | 2.91% |
| Edwards, CO (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $6,734 | 2.88% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,676 | 3.50% |
| Fort Morgan, CO (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $10,024 | 3.25% |
| Steamboat Springs, CO (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,419 | 2.50% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,694 | 3.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against M2 Lending Solutions 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 |
|---|---|---|---|---|---|
| Conventional | 960 | $330,670,000 | $344,448 | $3,925 | 3.03% |
| FHA | 9 | $3,745,000 | $416,111 | $13,260 | 3.61% |
For 2020, M2 Lending Solutions's most frequently originated type of loan was Conventional, with 960 originations. Their 2nd most popular type was FHA, with 9 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 965 | $332,845,000 | $344,917 | $4,007 | 3.03% |
| Home Purchase | 4 | $1,570,000 | $392,500 | $5,622 | 3.75% |
For 2020, M2 Lending Solutions's most frequently cited loan purpose was Refi, with 965 originations. The 2nd most popular reason was Home Purchase, with 4 originations.
Loan Duration/Length
For 2020, M2 Lending Solutions's most frequently cited loan duration was 30 Year, with 835 originations. The 2nd most popular length was 15 Year, with 78 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 816 | $286,360,000 | $350,931 |
| $1k-2k | 1 | $265,000 | $265,000 |
| $3k-4k | 1 | $375,000 | $375,000 |
M2 Lending Solutions's average total fees were $4,219, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 816 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 360 | $127,110,000 | $353,083 |
| 2.5-3% | 358 | $126,130,000 | $352,318 |
| <2.5% | 217 | $71,225,000 | $328,226 |
| 4-5% | 33 | $9,715,000 | $294,394 |
| 5-6% | 1 | $235,000 | $235,000 |
During 2020, M2 Lending Solutions's average interest rate for loans was 3.08%, while their most frequently originated rate bucket for loans was 3-4%, with 360 originations.
Loan Sizing
2020 saw M2 Lending Solutions place emphasis on $200k-400k loans with 557 originations, totaling $172,165,000 in origination value.
Applicant Income
M2 Lending Solutions lent most frequently to those with incomes in the $250k+ range, with 659 originations. The second most popular income band? $100k-150k, with 126 originations.
Applicant Debt to Income Ratio
M2 Lending Solutions lent most frequently to those with DTI ratios of 20-30%, with 180 originations. The next most common DTI ratio? 30-36%, with 159 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not provided | 968 | $334,060,000 | $345,103 | $4,012 | 3.04% |
| White | 1 | $355,000 | $355,000 | $0 | 4.38% |
Approval Rates
Total approvals of all applications100.00%
M2 Lending Solutions 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 |
|---|---|---|---|
| 3340.9 | 1 | $355,000 | $355,000 |
| NA | 968 | $334,060,000 | $345,103 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 969 | $334,415,000 | $345,114 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MILEND, INC. | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |