Liberty Mortgage Corporation Rates, Fees & Info

Birmingham, AL

LEI: 2549008SGDIASSJGSR05

Tax ID: 63-0901920

5 stars - Updated: 12/16/24 - out of 5 stars, based on 7 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Liberty Mortgage Corporation is a smaller mortgage company specializing in Home Purchase loans. Liberty Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Birmingham, Montgomery, Alexander City, Anniston, and Auburn among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Liberty Mortgage Corporation has an above average approval rate when compared to the average across all lenders. Liberty 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.27% 12/16/24
    30 Year Conventional Refi 6.27% 12/16/24
    30 Year Cash-out Refi 6.27% 12/16/24
    15 Year Conventional Purchase 5.68% 12/16/24
    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.

    Liberty Mortgage Corporation Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Liberty 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

    53

    Origination Dollar Volume (All Markets)

    $16,675,000

    Awards

    Liberty Mortgage Corporation 30 Year Conventional Loans gold Liberty Mortgage Corporation 30 Year Conventional Loans silver
    Show all (2) awards

    Relative Rate

    Liberty Mortgage Corporation's average 30 year fixed mortgage rate was 6.77%.

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

    This yields a difference of 0.29%.

    Relative Fees (Closing Costs)

    Liberty Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $3,746.

    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
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 48 $15,310,000 $318,958 $3,492 6.69%
    MONTGOMERY, AL (FHA|USDA|VA) 1 $425,000 $425,000 $1,911 6.25%
    Alexander City, AL (FHA|USDA|VA) 1 $385,000 $385,000 $6,569 7.25%
    ANNISTON-OXFORD, AL (FHA|USDA|VA) 1 $195,000 $195,000 $8,205 7.75%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $195,000 $195,000 $4,530 6.50%
    GADSDEN, AL (FHA|USDA|VA) 1 $165,000 $165,000 $2,483 7.63%
    Liberty Mortgage Corporation's top markets include Birmingham, Montgomery, Alexander City, Anniston, and Auburn among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)

    • Similar Lenders

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

    MAX Credit Union
    Similarity Rank: 234
    ALABAMA CREDIT UNION
    Similarity Rank: 294
    Liberty Mortgage Corporation
    Similarity Rank: 348
    Mutual Savings Credit Union
    Similarity Rank: 360
    APCO EMPLOYEES
    Similarity Rank: 891
    AMERICA'S FIRST
    Similarity Rank: 1003
    INSPIRE HOME LOANS INC.
    Similarity Rank: 1144
    CHERRY CREEK MORTGAGE, LLC
    Similarity Rank: 1526
    AVADIAN
    Similarity Rank: 1530
    Bryant Bank
    Similarity Rank: 1628

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 43 $13,955,000 $324,535 $3,045 6.76%
    FHA 9 $2,545,000 $282,778 $6,181 6.56%
    VA 1 $175,000 $175,000 $4,740 6.75%

    For 2023, Liberty Mortgage Corporation's most frequently originated type of loan was Conventional, with 43 originations. Their 2nd most popular type was FHA, with 9 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 42 $14,500,000 $345,238 $3,162 6.55%
    Cash Out Refi 10 $1,980,000 $198,000 $5,409 7.34%
    Refi 1 $195,000 $195,000 $4,421 7.88%

    For 2023, Liberty Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 42 originations. The 2nd most popular reason was Cash Out Refi, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 48 $15,310,000 $318,958 $3,746 6.77%
    15 Year 2 $690,000 $345,000 $2,328 6.44%
    20 Year 2 $460,000 $230,000 $2,434 6.25%
    10 Year 1 $215,000 $215,000 $1,990 6.00%

    For 2023, Liberty Mortgage Corporation's most frequently cited loan duration was 30 Year, with 48 originations. The 2nd most popular length was 15 Year, with 2 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 40 $13,770,000 $344,250
    $2k-3k 4 $920,000 $230,000
    $3k-4k 4 $600,000 $150,000
    $4k-5k 2 $560,000 $280,000
    $5k+ 2 $540,000 $270,000
    $1k-2k 1 $285,000 $285,000

    Liberty Mortgage Corporation's average total fees were $3,746, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 40 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 31 $11,145,000 $359,516
    7-8% 14 $2,870,000 $205,000
    5-6% 8 $2,660,000 $332,500

    During 2023, Liberty Mortgage Corporation's average interest rate for loans was 6.77%, while their most frequently originated rate bucket for loans was 6-7%, with 31 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 23 $7,115,000 $309,348 $3,510 6.56%
    $100k-200k 15 $2,515,000 $167,667 $4,050 7.05%
    $400k-600k 10 $4,880,000 $488,000 $3,389 6.49%
    $600k-1MM 3 $2,025,000 $675,000 $1,906 6.58%
    $100,000 or less 2 $140,000 $70,000 $5,118 7.56%

    2023 saw Liberty Mortgage Corporation place emphasis on $200k-400k loans with 23 originations, totaling $7,115,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 15 $4,595,000 $306,333 $3,561 6.75%
    $250k+ 11 $4,455,000 $405,000 $3,268 6.90%
    $150k-250k 10 $4,010,000 $401,000 $3,825 6.61%
    $50k-75k 8 $1,890,000 $236,250 $4,156 6.59%
    $75k-100k 7 $1,375,000 $196,429 $3,496 6.77%
    $50k or less 2 $350,000 $175,000 $2,989 6.50%

    Liberty Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $250k+, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 15 $5,245,000 $349,667 $2,919 6.73%
    <20% 9 $2,345,000 $260,556 $4,039 7.06%
    30-36% 8 $2,880,000 $360,000 $4,100 6.48%
    43% 6 $1,610,000 $268,333 $2,779 7.00%
    50-60% 4 $1,160,000 $290,000 $6,069 6.50%
    41% 3 $875,000 $291,667 $2,751 6.71%
    40% 2 $570,000 $285,000 $1,624 6.44%
    37% 2 $710,000 $355,000 $5,528 7.06%
    47% 1 $215,000 $215,000 $1,990 6.00%
    44% 1 $175,000 $175,000 $4,740 6.75%
    39% 1 $555,000 $555,000 $2,440 6.00%
    46% 1 $335,000 $335,000 $5,713 6.25%

    Liberty Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 15 originations. The next most common DTI ratio? <20%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 47 $14,565,000 $309,894 $3,667 6.72%
    Black 4 $1,370,000 $342,500 $2,984 7.03%
    Asian 2 $740,000 $370,000 $3,533 6.31%

    Approval Rates

    Total approvals of all applications
    100.00%

    Liberty 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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 53 $16,675,000 $314,623

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    53 $16,675,000 $314,623

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $360,000 $180,000 $2,183 6.94%
    40-60% 7 $2,035,000 $290,714 $2,968 6.61%
    60-80% 19 $5,995,000 $315,526 $3,510 6.76%
    80-100% 25 $8,285,000 $331,400 $3,980 6.71%