Kwik Mortgage Corporation Rates, Fees & Info
Parsippany, NJLEI: 2549004CU9LAM5CYA280
Tax ID: 22-3626334
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Mortgage Data
Review & Overview
Kwik Mortgage Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. Kwik Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: New York, Dallas, Philadelphia, Houston, and Trenton among others. We have data for 33 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. 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% | 4/22/24 |
| 30 Year Conventional Refi | 6.05% | 4/22/24 |
| 30 Year Cash-out Refi | 6.21% | 4/22/24 |
| 30 Year FHA Purchase | 7.18% | 4/22/24 |
| 15 Year Conventional Purchase | 5.57% | 4/22/24 |
| 15 Year Conventional Refi | 5.64% | 4/22/24 |
| 15 Year Cash-out Refi | 5.64% | 4/22/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
237Origination Dollar Volume (All Markets)
$75,525,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 132 | $45,560,000 | $345,152 | $0 | 4.66% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 21 | $6,275,000 | $298,810 | $0 | 4.31% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 11 | $2,845,000 | $258,636 | $0 | 4.66% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 10 | $2,550,000 | $255,000 | $0 | 4.31% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 7 | $2,125,000 | $303,571 | $0 | 4.59% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 5 | $1,575,000 | $315,000 | $0 | 4.55% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 6 | $1,460,000 | $243,333 | $0 | 4.50% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 4 | $1,420,000 | $355,000 | $0 | 4.47% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 4 | $1,380,000 | $345,000 | $0 | 4.17% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 3 | $1,135,000 | $378,333 | $0 | 4.83% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $0 | 4.42% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 4 | $870,000 | $217,500 | $0 | 4.59% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $0 | 4.21% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $0 | 4.63% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $0 | 4.31% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $0 | 4.44% |
| Hereford, TX (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 4.38% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 4.13% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 4.63% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 4.50% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 4.88% |
| SAN ANGELO, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 4.25% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 4.63% |
| ERIE, PA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 4.38% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 3.75% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 4.13% |
| Outside of Metro Areas | 1 | $225,000 | $225,000 | $0 | 4.38% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 4.25% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 4.88% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 4.63% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 4.38% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 4.63% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 4.88% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 207 | $65,435,000 | $316,111 | $0 | 4.54% |
| FHA | 30 | $10,090,000 | $336,333 | $0 | 4.72% |
For 2018, Kwik Mortgage Corporation's most frequently originated type of loan was Conventional, with 207 originations. Their 2nd most popular type was FHA, with 30 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 185 | $59,665,000 | $322,514 | $0 | 4.55% |
| Refi | 51 | $15,495,000 | $303,824 | $0 | 4.61% |
| Home Improvement | 1 | $365,000 | $365,000 | $0 | 4.63% |
For 2018, Kwik Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 185 originations. The 2nd most popular reason was Refi, with 51 originations.
Loan Duration/Length
For 2018, Kwik Mortgage Corporation's most frequently cited loan duration was 30 Year, with 202 originations. The 2nd most popular length was 15 Year, with 21 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 177 | $57,635,000 | $325,621 |
| 5-6% | 25 | $5,625,000 | $225,000 |
| 3-4% | 23 | $7,135,000 | $310,217 |
During 2018, Kwik Mortgage Corporation's average interest rate for loans was 4.65%, while their most frequently originated rate bucket for loans was 4-5%, with 177 originations.
Loan Sizing
2018 saw Kwik Mortgage Corporation place emphasis on $200k-400k loans with 149 originations, totaling $44,555,000 in origination value.
Applicant Income
Kwik Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 82 originations. The second most popular income band? $150k-250k, with 54 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.08%
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 origination79.32%
Kwik Mortgage Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 237 | $75,525,000 | $318,671 |