Liberty Mortgage Corporation Rates, Fees & Info
Birmingham, ALLEI: 2549008SGDIASSJGSR05
Tax ID: 63-0901920
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Mortgage Data
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 4/21/24 |
| 30 Year Conventional Refi | 6.27% | 4/21/24 |
| 30 Year Cash-out Refi | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 5.68% | 4/21/24 |
| 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. | ||
Liberty 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
53Origination Dollar Volume (All Markets)
$16,675,000Awards
Liberty Mortgage Corporation - 2023
Liberty Mortgage Corporation is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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.
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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
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
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
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
2023 saw Liberty Mortgage Corporation place emphasis on $200k-400k loans with 23 originations, totaling $7,115,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications100.00%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 53 | $16,675,000 | $314,623 |