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 Cash Out Refi, Refi, and 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, Los Angeles, Boston, San Francisco, and Philadelphia among others. We have data for 118 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 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 | 6.27% | 4/14/24 |
| 30 Year Conventional Refi | 6.05% | 4/14/24 |
| 30 Year Cash-out Refi | 6.21% | 4/14/24 |
| 30 Year FHA Purchase | 7.18% | 4/14/24 |
| 15 Year Conventional Purchase | 5.57% | 4/14/24 |
| 15 Year Conventional Refi | 5.64% | 4/14/24 |
| 15 Year Cash-out Refi | 5.64% | 4/14/24 |
| 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
2,435Origination Dollar Volume (All Markets)
$932,355,000Awards
Kwik Mortgage Corporation - 2021
Kwik Mortgage Corporation is a 2021 , due to their low .
For 2021, 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1,021 | $388,995,000 | $380,994 | $3,585 | 2.66% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 134 | $61,540,000 | $459,254 | $2,405 | 2.55% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 121 | $47,865,000 | $395,579 | $2,053 | 2.43% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 78 | $38,380,000 | $492,051 | $2,134 | 2.56% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 89 | $30,435,000 | $341,966 | $3,361 | 2.62% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 68 | $26,110,000 | $383,971 | $2,246 | 2.75% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 73 | $25,545,000 | $349,932 | $3,543 | 2.60% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 62 | $23,050,000 | $371,774 | $2,736 | 2.60% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 51 | $21,655,000 | $424,608 | $2,051 | 2.67% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 57 | $21,295,000 | $373,596 | $1,831 | 2.64% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 60 | $20,700,000 | $345,000 | $2,154 | 2.65% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 46 | $18,950,000 | $411,957 | $2,262 | 2.66% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 44 | $14,940,000 | $339,545 | $3,683 | 2.59% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 31 | $13,655,000 | $440,484 | $2,032 | 2.46% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 41 | $13,195,000 | $321,829 | $2,842 | 2.88% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 34 | $12,930,000 | $380,294 | $3,728 | 2.82% |
| STOCKTON, CA (FHA|USDA|VA) | 27 | $12,355,000 | $457,593 | $2,685 | 2.87% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 24 | $11,600,000 | $483,333 | $2,429 | 2.70% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 22 | $8,740,000 | $397,273 | $1,513 | 2.49% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 19 | $6,905,000 | $363,421 | $1,932 | 2.63% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 19 | $6,825,000 | $359,211 | $2,009 | 2.51% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 13 | $4,865,000 | $374,231 | $2,180 | 2.81% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 16 | $4,750,000 | $296,875 | $1,942 | 2.57% |
| RICHMOND, VA (FHA|USDA|VA) | 13 | $4,195,000 | $322,692 | $1,847 | 2.68% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 11 | $3,945,000 | $358,636 | $4,105 | 2.90% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 9 | $3,415,000 | $379,444 | $2,105 | 2.68% |
| VALLEJO, CA (FHA|USDA|VA) | 8 | $3,300,000 | $412,500 | $2,750 | 2.78% |
| Outside of Metro Areas | 11 | $2,755,000 | $250,455 | $2,684 | 2.86% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 6 | $2,730,000 | $455,000 | $1,746 | 2.44% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 8 | $2,640,000 | $330,000 | $3,247 | 2.63% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 8 | $2,600,000 | $325,000 | $4,560 | 2.70% |
| MODESTO, CA (FHA|USDA|VA) | 7 | $2,565,000 | $366,429 | $1,276 | 2.73% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 6 | $2,410,000 | $401,667 | $2,901 | 2.75% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 9 | $2,345,000 | $260,556 | $3,554 | 2.96% |
| FRESNO, CA (FHA|USDA|VA) | 8 | $2,310,000 | $288,750 | $1,644 | 2.81% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 5 | $2,225,000 | $445,000 | $2,080 | 2.65% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 5 | $2,135,000 | $427,000 | $1,108 | 2.60% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 5 | $2,085,000 | $417,000 | $1,767 | 2.45% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 6 | $2,060,000 | $343,333 | $3,698 | 2.90% |
| PITTSBURGH, PA (FHA|USDA|VA) | 5 | $1,975,000 | $395,000 | $3,353 | 2.53% |
| COLUMBUS, OH (FHA|USDA|VA) | 5 | $1,925,000 | $385,000 | $1,600 | 2.80% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 7 | $1,895,000 | $270,714 | $1,614 | 3.04% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 5 | $1,855,000 | $371,000 | $1,517 | 2.43% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 5 | $1,835,000 | $367,000 | $2,999 | 2.53% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 5 | $1,765,000 | $353,000 | $3,889 | 2.50% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 5 | $1,655,000 | $331,000 | $1,279 | 2.18% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 5 | $1,645,000 | $329,000 | $4,389 | 2.70% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 6 | $1,530,000 | $255,000 | $3,001 | 3.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 4 | $1,370,000 | $342,500 | $2,208 | 2.97% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $1,285,000 | $428,333 | $3,901 | 2.42% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 4 | $1,080,000 | $270,000 | $1,392 | 2.81% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $1,060,000 | $530,000 | $2,565 | 2.81% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 3 | $1,055,000 | $351,667 | $2,200 | 2.79% |
| SALINAS, CA (FHA|USDA|VA) | 3 | $1,045,000 | $348,333 | $2,021 | 2.67% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 3 | $1,045,000 | $348,333 | $4,587 | 3.25% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $1,557 | 2.33% |
| Sonora, CA (FHA|USDA|VA) | 3 | $975,000 | $325,000 | $3,277 | 3.72% |
| MADERA, CA (FHA|USDA|VA) | 2 | $930,000 | $465,000 | $5,295 | 2.69% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $920,000 | $460,000 | $1,557 | 2.88% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 2 | $870,000 | $435,000 | $2,549 | 2.63% |
| LANCASTER, PA (FHA|USDA|VA) | 3 | $855,000 | $285,000 | $3,300 | 2.92% |
| NAPA, CA (FHA|USDA|VA) | 1 | $845,000 | $845,000 | $2,131 | 3.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $4,671 | 2.33% |
| CHICO, CA (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $2,357 | 2.75% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $2,630 | 3.13% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $1,165 | 1.94% |
| AKRON, OH (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $2,101 | 2.19% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $3,569 | 3.00% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $1,437 | 2.25% |
| Granbury, TX (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $4,401 | 2.00% |
| LONGVIEW, TX (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $2,983 | 2.94% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $1,349 | 2.06% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $1,734 | 2.81% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $6,017 | 3.25% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $2,807 | 2.50% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $4,006 | 3.13% |
| VISALIA, CA (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $4,053 | 2.56% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $951 | 2.50% |
| REDDING, CA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $1,081 | 2.63% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $2,811 | 2.63% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $3,466 | 2.88% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $2,580 | 2.88% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $2,199 | 2.50% |
| BELLINGHAM, WA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $2,924 | 2.88% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $1,758 | 2.63% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $1,486 | 2.75% |
| Cookeville, TN (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $1,106 | 3.00% |
| TYLER, TX (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $5,268 | 2.63% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $1,166 | 2.00% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $1,109 | 2.75% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $2,211 | 2.13% |
| Susanville, CA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,020 | 2.75% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,418 | 3.13% |
| Athens, TX (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,270 | 2.38% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $1,066 | 2.38% |
| Sanford, NC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $1,433 | 2.88% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,942 | 2.25% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $2,628 | 3.19% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $1,609 | 2.00% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,329 | 2.75% |
| MERCED, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,187 | 2.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,403 | 2.63% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,316 | 3.13% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,011 | 3.13% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $1,237 | 3.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $1,126 | 3.13% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $1,126 | 2.13% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,631 | 2.75% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,213 | 3.50% |
| READING, PA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,983 | 3.13% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,828 | 2.13% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $921 | 3.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $1,009 | 2.75% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,776 | 4.00% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,875 | 3.75% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,284 | 2.88% |
| WACO, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,387 | 3.63% |
| JACKSON, TN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,600 | 2.75% |
Their top states include:
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 2,416 | $926,590,000 | $383,522 | $2,930 | 2.65% |
| FHA | 16 | $4,910,000 | $306,875 | $9,436 | 2.76% |
| VA | 3 | $855,000 | $285,000 | $3,301 | 2.25% |
For 2021, Kwik Mortgage Corporation's most frequently originated type of loan was Conventional, with 2,416 originations. Their 2nd most popular type was FHA, with 16 originations.
Loan Reason
For 2021, Kwik Mortgage Corporation's most frequently cited loan purpose was Cash Out Refi, with 1,226 originations. The 2nd most popular reason was Refi, with 609 originations.
Loan Duration/Length
For 2021, Kwik Mortgage Corporation's most frequently cited loan duration was 30 Year, with 1,503 originations. The 2nd most popular length was 15 Year, with 639 originations.
Origination Fees/Closing Costs
Kwik Mortgage Corporation's average total fees were $3,452, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,123 originations.
Interest Rates
During 2021, Kwik Mortgage Corporation's average interest rate for loans was 2.89%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,141 originations.
Loan Sizing
2021 saw Kwik Mortgage Corporation place emphasis on $200k-400k loans with 1,280 originations, totaling $392,900,000 in origination value.
Applicant Income
Kwik Mortgage Corporation lent most frequently to those with incomes in the $150k-250k range, with 824 originations. The second most popular income band? $100k-150k, with 810 originations.
Applicant Debt to Income Ratio
Kwik Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 627 originations. The next most common DTI ratio? 30-36%, with 487 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.62%
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 origination67.27%
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 | 2,435 | $932,355,000 | $382,897 |