Kwik Mortgage Corporation Rates, Fees & Info

Parsippany, NJ

LEI: 2549004CU9LAM5CYA280

Tax ID: 22-3626334

5 stars - Updated: 6/23/24 - out of 5 stars, based on 26 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

Review & Overview

Kwik Mortgage Corporation is a smaller mortgage company specializing in Home Purchase loans. Kwik Mortgage Corporation 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: New York, Dallas, Atlanta, Houston, and Raleigh among others. We have data for 99 markets. (Some data included below & more in-depth data is available with an active subscription.)

Kwik Mortgage Corporation has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Kwik Mortgage Corporation is typically an average 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.

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% 6/23/24
30 Year Conventional Refi 6.05% 6/23/24
30 Year Cash-out Refi 6.21% 6/23/24
30 Year FHA Purchase 7.18% 6/23/24
15 Year Conventional Purchase 5.57% 6/23/24
15 Year Conventional Refi 5.64% 6/23/24
15 Year Cash-out Refi 5.64% 6/23/24
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.

Kwik Mortgage Corporation Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Kwik Mortgage Corporation. 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

653

Origination Dollar Volume (All Markets)

$266,235,000
Show all (15) awards

Relative Rate

Kwik Mortgage Corporation's average 30 year fixed mortgage rate was 6.64%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.16%.

Relative Fees (Closing Costs)

Kwik Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $5,875.

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) 157 $78,965,000 $502,962 $6,773 6.76%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 43 $17,815,000 $414,302 $5,407 6.63%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 36 $13,440,000 $373,333 $5,833 6.50%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 33 $13,075,000 $396,212 $6,579 6.37%
RALEIGH-CARY, NC (FHA|USDA|VA) 29 $10,955,000 $377,759 $5,033 6.52%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 18 $8,300,000 $461,111 $5,897 6.47%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 22 $8,240,000 $374,545 $3,403 6.61%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 18 $7,630,000 $423,889 $4,999 6.40%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 17 $6,775,000 $398,529 $7,598 6.63%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 15 $5,855,000 $390,333 $7,139 6.00%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 11 $5,025,000 $456,818 $7,360 6.75%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 11 $4,855,000 $441,364 $5,874 6.32%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 13 $4,725,000 $363,462 $4,507 6.46%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 12 $4,590,000 $382,500 $5,339 6.30%
Outside of Metro Areas 10 $3,480,000 $348,000 $7,430 6.58%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 9 $3,425,000 $380,556 $4,694 6.71%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 9 $3,355,000 $372,778 $4,671 6.74%
RICHMOND, VA (FHA|USDA|VA) 9 $3,295,000 $366,111 $4,865 6.54%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 7 $2,925,000 $417,857 $5,852 6.57%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 7 $2,555,000 $365,000 $4,308 6.84%
KNOXVILLE, TN (FHA|USDA|VA) 7 $2,375,000 $339,286 $6,295 6.32%
SAVANNAH, GA (FHA|USDA|VA) 8 $2,250,000 $281,250 $4,094 6.58%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 7 $2,095,000 $299,286 $3,480 6.66%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 5 $2,085,000 $417,000 $6,725 6.13%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $1,985,000 $661,667 $4,895 6.42%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 5 $1,855,000 $371,000 $4,076 6.73%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 4 $1,830,000 $457,500 $4,956 6.84%
COLUMBIA, SC (FHA|USDA|VA) 6 $1,710,000 $285,000 $3,070 6.60%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 6 $1,700,000 $283,333 $4,787 6.46%
WILMINGTON, NC (FHA|USDA|VA) 4 $1,630,000 $407,500 $5,211 6.44%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $1,625,000 $541,667 $8,124 6.42%
WINSTON-SALEM, NC (FHA|USDA|VA) 4 $1,460,000 $365,000 $5,058 6.81%
JACKSONVILLE, FL (FHA|USDA|VA) 4 $1,410,000 $352,500 $7,509 5.88%
SHERMAN-DENISON, TX (FHA|USDA|VA) 2 $1,300,000 $650,000 $6,169 6.75%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 2 $1,220,000 $610,000 $4,916 5.75%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $1,125,000 $375,000 $4,547 6.42%
WORCESTER, MA-CT (FHA|USDA|VA) 2 $1,120,000 $560,000 $4,301 6.31%
PANAMA CITY, FL (FHA|USDA|VA) 1 $1,085,000 $1,085,000 $18,388 8.25%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 3 $1,055,000 $351,667 $2,833 6.79%
ASHEVILLE, NC (FHA|USDA|VA) 3 $1,005,000 $335,000 $5,914 6.46%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 3 $985,000 $328,333 $3,910 6.58%
SPARTANBURG, SC (FHA|USDA|VA) 3 $985,000 $328,333 $4,599 6.71%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 2 $870,000 $435,000 $3,245 5.81%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $825,000 $825,000 $13,106 8.00%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 3 $765,000 $255,000 $6,315 7.25%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 3 $705,000 $235,000 $7,649 6.63%
Seneca, SC (FHA|USDA|VA) 1 $675,000 $675,000 $3,500 6.00%
DAYTON-KETTERING, OH (FHA|USDA|VA) 3 $675,000 $225,000 $6,106 7.04%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $620,000 $310,000 $2,972 6.94%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $610,000 $305,000 $10,190 6.38%
FAYETTEVILLE, NC (FHA|USDA|VA) 2 $600,000 $300,000 $6,146 6.88%
PITTSBURGH, PA (FHA|USDA|VA) 4 $590,000 $147,500 $5,329 6.94%
GAINESVILLE, GA (FHA|USDA|VA) 2 $560,000 $280,000 $4,286 7.50%
MIDLAND, TX (FHA|USDA|VA) 2 $560,000 $280,000 $4,112 5.88%
GAINESVILLE, FL (FHA|USDA|VA) 2 $550,000 $275,000 $4,379 5.81%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $540,000 $270,000 $4,037 6.69%
Sevierville, TN (FHA|USDA|VA) 1 $515,000 $515,000 $5,296 7.00%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $515,000 $515,000 $2,826 7.00%
KINGSTON, NY (FHA|USDA|VA) 1 $505,000 $505,000 $22,650 7.13%
EL PASO, TX (FHA|USDA|VA) 1 $495,000 $495,000 $4,591 6.50%
Brevard, NC (FHA|USDA|VA) 1 $475,000 $475,000 $2,216 6.63%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $475,000 $475,000 $2,677 7.13%
Gaffney, SC (FHA|USDA|VA) 1 $465,000 $465,000 $2,798 7.00%
DALTON, GA (FHA|USDA|VA) 2 $450,000 $225,000 $3,592 6.38%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $440,000 $220,000 $5,049 6.75%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $435,000 $435,000 $4,372 6.13%
CORPUS CHRISTI, TX (FHA|USDA|VA) 2 $430,000 $215,000 $8,638 6.19%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $425,000 $425,000 $23,878 7.13%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $425,000 $425,000 $11,453 6.50%
Georgetown, SC (FHA|USDA|VA) 2 $420,000 $210,000 $3,416 7.31%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $405,000 $405,000 $6,623 6.38%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $405,000 $405,000 $4,096 7.75%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $395,000 $395,000 $4,333 5.88%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $395,000 $395,000 $22,309 5.75%
Wapakoneta, OH (FHA|USDA|VA) 1 $385,000 $385,000 $3,595 6.63%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $345,000 $345,000 $5,336 8.13%
REDDING, CA (FHA|USDA|VA) 1 $325,000 $325,000 $3,116 6.13%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $325,000 $325,000 $10,907 6.63%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 2 $300,000 $150,000 $6,219 7.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $285,000 $285,000 $3,838 8.50%
Cullowhee, NC (FHA|USDA|VA) 1 $285,000 $285,000 $3,129 7.38%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $275,000 $275,000 $4,726 5.88%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $265,000 $265,000 $9,227 6.13%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $265,000 $265,000 $4,598 6.63%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $255,000 $255,000 $3,376 7.00%
WINCHESTER, VA-WV (FHA|USDA|VA) 1 $255,000 $255,000 $2,605 6.50%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $245,000 $245,000 $2,348 6.13%
Sunbury, PA (FHA|USDA|VA) 1 $245,000 $245,000 $4,161 6.13%
Greenwood, SC (FHA|USDA|VA) 1 $235,000 $235,000 $8,338 4.63%
LYNCHBURG, VA (FHA|USDA|VA) 1 $225,000 $225,000 $1,602 5.75%
Shelby, NC (FHA|USDA|VA) 1 $215,000 $215,000 $9,251 6.25%
FLORENCE, SC (FHA|USDA|VA) 1 $195,000 $195,000 $2,010 6.63%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $175,000 $175,000 $3,563 6.88%
VALDOSTA, GA (FHA|USDA|VA) 1 $155,000 $155,000 $8,068 6.50%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $155,000 $155,000 $4,606 6.13%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $135,000 $135,000 $7,702 6.50%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $105,000 $105,000 $4,516 7.13%
WACO, TX (FHA|USDA|VA) 1 $105,000 $105,000 $4,195 7.13%
ERIE, PA (FHA|USDA|VA) 1 $95,000 $95,000 $4,566 7.63%
Kwik Mortgage Corporation's top markets include New York, Dallas, Atlanta, Houston, and Raleigh among others.

Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Kwik Mortgage Corporation based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Republic Bank
    Similarity Rank: 21
    Los Angeles Federal Credit Union
    Similarity Rank: 72
    MISSION
    Similarity Rank: 93
    VENTURA COUNTY
    Similarity Rank: 96
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 117
    N C P D Federal Credit Union
    Similarity Rank: 126
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 126
    County Savings Bank
    Similarity Rank: 135
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 136

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 634 $260,430,000 $410,773 $5,700 6.59%
    FHA 19 $5,805,000 $305,526 $11,601 6.71%

    For 2023, Kwik Mortgage Corporation's most frequently originated type of loan was Conventional, with 634 originations. Their 2nd most popular type was FHA, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 631 $258,405,000 $409,517 $5,850 6.58%
    Cash Out Refi 18 $6,430,000 $357,222 $7,256 6.90%
    Refi 4 $1,400,000 $350,000 $2,974 6.31%

    For 2023, Kwik Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 631 originations. The 2nd most popular reason was Cash Out Refi, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 602 $242,320,000 $402,525 $5,875 6.64%
    15 Year 39 $17,935,000 $459,872 $6,147 5.85%
    20 Year 12 $5,980,000 $498,333 $4,788 6.58%

    For 2023, Kwik Mortgage Corporation's most frequently cited loan duration was 30 Year, with 602 originations. The 2nd most popular length was 15 Year, with 39 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 378 $163,970,000 $433,783
    $1k-2k 85 $32,625,000 $383,824
    $5k+ 77 $31,725,000 $412,013
    $2k-3k 52 $16,730,000 $321,731
    $3k-4k 42 $14,080,000 $335,238
    $4k-5k 18 $6,930,000 $385,000

    Kwik Mortgage Corporation's average total fees were $5,875, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 378 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 358 $142,080,000 $396,872
    5-6% 149 $64,785,000 $434,799
    7-8% 124 $49,540,000 $399,516
    Over 8% 16 $7,170,000 $448,125
    4-5% 6 $2,660,000 $443,333

    During 2023, Kwik Mortgage Corporation's average interest rate for loans was 6.64%, while their most frequently originated rate bucket for loans was 6-7%, with 358 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 294 $88,110,000 $299,694 $5,411 6.62%
    $400k-600k 188 $91,150,000 $484,840 $6,181 6.45%
    $600k-1MM 98 $67,150,000 $685,204 $6,731 6.59%
    $100k-200k 63 $10,365,000 $164,524 $4,807 6.77%
    $1MM+ 8 $9,270,000 $1,158,750 $13,829 7.28%
    $100,000 or less 2 $190,000 $95,000 $4,231 7.13%

    2023 saw Kwik Mortgage Corporation place emphasis on $200k-400k loans with 294 originations, totaling $88,110,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 230 $104,070,000 $452,478 $5,779 6.64%
    $100k-150k 174 $63,880,000 $367,126 $5,990 6.55%
    $250k+ 124 $63,690,000 $513,629 $6,589 6.66%
    $75k-100k 81 $24,465,000 $302,037 $5,418 6.48%
    $50k-75k 42 $9,860,000 $234,762 $4,624 6.46%
    $50k or less 2 $270,000 $135,000 $6,120 6.75%

    Kwik Mortgage Corporation lent most frequently to those with incomes in the $150k-250k range, with 230 originations. The second most popular income band? $100k-150k, with 174 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 128 $53,910,000 $421,172 $5,963 6.53%
    20-30% 95 $35,395,000 $372,579 $5,282 6.39%
    49% 53 $22,155,000 $418,019 $7,268 6.70%
    47% 36 $13,690,000 $380,278 $6,224 6.54%
    45% 33 $14,695,000 $445,303 $6,294 6.66%
    <20% 29 $9,695,000 $334,310 $5,688 6.86%
    39% 28 $10,390,000 $371,071 $5,052 6.52%
    40% 28 $11,330,000 $404,643 $5,260 6.96%
    46% 27 $10,635,000 $393,889 $4,663 6.53%
    38% 27 $13,635,000 $505,000 $6,574 6.62%
    44% 27 $11,685,000 $432,778 $6,413 6.60%
    42% 26 $13,420,000 $516,154 $6,793 6.56%
    36% 26 $11,790,000 $453,462 $5,746 6.55%
    48% 26 $9,970,000 $383,462 $5,503 7.09%
    41% 25 $9,365,000 $374,600 $4,820 6.54%
    43% 23 $8,535,000 $371,087 $5,246 6.58%
    37% 9 $3,595,000 $399,444 $4,120 6.36%
    50-60% 7 $2,345,000 $335,000 $10,869 6.38%

    Kwik Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 128 originations. The next most common DTI ratio? 20-30%, with 95 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 281 $125,445,000 $446,423 $6,198 6.72%
    White 268 $101,310,000 $378,022 $5,627 6.46%
    Not provided 62 $22,420,000 $361,613 $4,890 6.58%
    Black 26 $9,540,000 $366,923 $6,907 6.50%
    Asian Indian 6 $3,670,000 $611,667 $6,789 6.92%
    Other Asian 3 $1,735,000 $578,333 $6,948 6.46%
    American Indian 4 $1,120,000 $280,000 $5,846 6.44%
    Korean 1 $375,000 $375,000 $2,758 7.00%
    Native Hawaiian or Islander 1 $355,000 $355,000 $9,049 7.00%
    Vietnamese 1 $265,000 $265,000 $4,629 6.88%

    Approval Rates

    Total approvals of all applications
    96.74%

    Kwik Mortgage Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    34.92%

    Kwik Mortgage Corporation has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 653 $266,235,000 $407,711

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    653 $266,235,000 $407,711

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $4,715,000 $248,158 $4,501 6.55%
    40-60% 50 $17,110,000 $342,200 $5,450 6.45%
    60-80% 305 $119,045,000 $390,311 $5,820 6.68%
    80-100% 279 $125,365,000 $449,337 $6,098 6.52%