Meadowbrook Financial Mortgage Bankers Corp. Rates, Fees & Info

ALBANY, NY

LEI: 2549008X67CV1MNM7747

Tax ID: 37-1572886

1 stars - Updated: 2/25/24 - out of 5 stars, based on 37 reviews

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

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Mortgage Data

Review & Overview

Meadowbrook Financial Mortgage Bankers Corp. is a smaller bank specializing in Home Purchase loans. Meadowbrook Financial Mortgage Bankers Corp. has a high proportion of conventional loans. They have an average proportion of FHA 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, Miami, Bridgeport, Poughkeepsie, and Philadelphia among others. We have data for 59 markets. (Some data included below & more in-depth data is available with an active subscription.)

Meadowbrook Financial Mortgage Bankers Corp. 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. Meadowbrook Financial Mortgage Bankers Corp. is typically a high 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 6.92% 2/25/24
30 Year Conventional Refi 6.57% 2/25/24
30 Year Cash-out Refi 6.92% 2/25/24
30 Year FHA Purchase 7.42% 2/25/24
30 Year FHA Refi 6.90% 2/25/24
30 Year VA Purchase 6.36% 2/25/24
15 Year Conventional Purchase 6.32% 2/25/24
15 Year Conventional Refi 6.43% 2/25/24
15 Year Cash-out Refi 6.43% 2/25/24
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.

Meadowbrook Financial Mortgage Bankers Corp. Mortgage Calculator






Your Estimates

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

This is not an official calculator from Meadowbrook Financial Mortgage Bankers Corp.. 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

1,354

Origination Dollar Volume (All Markets)

$640,050,000

Relative Rate

Meadowbrook Financial Mortgage Bankers Corp.'s average 30 year fixed mortgage rate was 5.24%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.48%.

Relative Fees (Closing Costs)

Meadowbrook Financial Mortgage Bankers Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $16,345.

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 $4,750.

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) 1,112 $562,550,000 $505,890 $16,957 5.09%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 32 $11,830,000 $369,688 $11,694 5.44%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 27 $10,225,000 $378,704 $13,379 6.07%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 25 $7,675,000 $307,000 $12,660 5.06%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 12 $4,050,000 $337,500 $14,398 5.66%
EAST STROUDSBURG, PA (FHA|USDA|VA) 15 $3,835,000 $255,667 $11,141 5.97%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 11 $3,305,000 $300,455 $13,809 5.92%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 8 $2,600,000 $325,000 $14,233 6.77%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 7 $2,425,000 $346,429 $12,702 5.25%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 7 $2,165,000 $309,286 $14,561 5.14%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 7 $2,075,000 $296,429 $13,368 6.50%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 6 $1,970,000 $328,333 $10,413 5.40%
Outside of Metro Areas 8 $1,750,000 $218,750 $11,192 5.16%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $1,450,000 $725,000 $22,416 4.31%
PORT ST. LUCIE, FL (FHA|USDA|VA) 4 $1,440,000 $360,000 $14,226 5.91%
OCALA, FL (FHA|USDA|VA) 5 $1,345,000 $269,000 $9,075 4.80%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 3 $1,285,000 $428,333 $9,336 4.25%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 6 $1,190,000 $198,333 $8,985 5.60%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 4 $1,020,000 $255,000 $11,994 5.88%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $865,000 $865,000 $27,173 8.00%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 2 $810,000 $405,000 $5,472 4.81%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $800,000 $400,000 $25,091 5.31%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $730,000 $365,000 $17,785 6.63%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $730,000 $365,000 $7,733 6.63%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $710,000 $355,000 $11,000 5.88%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $680,000 $340,000 $11,694 6.06%
Torrington, CT (FHA|USDA|VA) 2 $660,000 $330,000 $18,362 5.50%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $645,000 $645,000 $7,193 3.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $610,000 $305,000 $12,841 4.56%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $545,000 $545,000 $31,051 5.75%
PITTSBURGH, PA (FHA|USDA|VA) 2 $520,000 $260,000 $9,843 6.13%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $495,000 $495,000 $5,846 5.63%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $485,000 $485,000 $10,155 5.63%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 2 $420,000 $210,000 $8,621 6.50%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $375,000 $375,000 $17,441 4.50%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 2 $360,000 $180,000 $8,206 5.50%
DOVER, DE (FHA|USDA|VA) 1 $355,000 $355,000 $14,584 6.38%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $345,000 $345,000 $7,802 5.88%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $320,000 $160,000 $7,339 6.38%
SAVANNAH, GA (FHA|USDA|VA) 1 $305,000 $305,000 $8,103 6.13%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $295,000 $295,000 $18,678 6.25%
Oneonta, NY (FHA|USDA|VA) 1 $285,000 $285,000 $10,067 6.63%
KINGSTON, NY (FHA|USDA|VA) 1 $285,000 $285,000 $10,608 6.13%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $285,000 $285,000 $16,805 5.25%
READING, PA (FHA|USDA|VA) 2 $280,000 $140,000 $9,067 6.56%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $265,000 $265,000 $11,724 6.25%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $245,000 $245,000 $9,912 6.63%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $235,000 $235,000 $7,031 5.63%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $235,000 $235,000 $14,070 6.13%
SYRACUSE, NY (FHA|USDA|VA) 1 $225,000 $225,000 $14,921 4.25%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $215,000 $215,000 $12,689 5.75%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $195,000 $195,000 $6,991 6.00%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 1 $195,000 $195,000 $8,808 3.88%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $185,000 $185,000 $8,678 6.50%
GETTYSBURG, PA (FHA|USDA|VA) 1 $165,000 $165,000 $10,946 7.13%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $155,000 $155,000 $7,205 7.63%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $135,000 $135,000 $5,350 6.63%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $115,000 $115,000 $5,971 9.88%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $105,000 $105,000 $6,229 6.63%
Meadowbrook Financial Mortgage Bankers Corp.'s top markets include New York, Miami, Bridgeport, Poughkeepsie, and Philadelphia among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Similar Lenders

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 995 $458,975,000 $461,281 $13,216 5.22%
    FHA 328 $165,900,000 $505,793 $24,635 5.14%
    VA 30 $14,940,000 $498,000 $19,545 4.78%
    FHA 1 $235,000 $235,000 $0 7.40%

    For 2022, Meadowbrook Financial Mortgage Bankers Corp.'s most frequently originated type of loan was Conventional, with 995 originations. Their 2nd most popular type was FHA, with 328 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,048 $508,030,000 $484,761 $16,755 5.33%
    Cash Out Refi 237 $102,795,000 $433,734 $14,413 4.87%
    Refi 69 $29,225,000 $423,551 $12,556 4.24%

    For 2022, Meadowbrook Financial Mortgage Bankers Corp.'s most frequently cited loan purpose was Home Purchase, with 1,048 originations. The 2nd most popular reason was Cash Out Refi, with 237 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,310 $623,970,000 $476,313 $16,345 5.24%
    15 Year 25 $9,215,000 $368,600 $10,023 3.59%
    20 Year 15 $5,755,000 $383,667 $9,847 3.81%
    Other 3 $895,000 $298,333 $10,053 5.13%
    10 Year 1 $215,000 $215,000 $5,556 3.38%

    For 2022, Meadowbrook Financial Mortgage Bankers Corp.'s most frequently cited loan duration was 30 Year, with 1,310 originations. The 2nd most popular length was 15 Year, with 25 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 1,061 $531,175,000 $500,636
    $1k-2k 127 $59,785,000 $470,748
    $4k-5k 82 $25,830,000 $315,000
    $3k-4k 55 $15,455,000 $281,000
    $2k-3k 27 $7,165,000 $265,370
    $<1k 1 $405,000 $405,000

    Meadowbrook Financial Mortgage Bankers Corp.'s average total fees were $16,345, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 1,061 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 401 $194,835,000 $485,873
    3-4% 301 $143,225,000 $475,831
    4-5% 271 $130,255,000 $480,646
    6-7% 252 $113,650,000 $450,992
    7-8% 77 $36,315,000 $471,623
    2.5-3% 28 $11,490,000 $410,357
    Over 8% 23 $9,835,000 $427,609
    <2.5% 1 $445,000 $445,000

    During 2022, Meadowbrook Financial Mortgage Bankers Corp.'s average interest rate for loans was 5.24%, while their most frequently originated rate bucket for loans was 5-6%, with 401 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 593 $294,425,000 $496,501 $16,838 5.11%
    $200k-400k 373 $114,165,000 $306,072 $11,843 5.28%
    $600k-1MM 283 $200,715,000 $709,240 $22,289 5.13%
    $100k-200k 91 $14,825,000 $162,912 $7,727 5.50%
    $1MM+ 12 $15,780,000 $1,315,000 $35,767 5.48%
    $100,000 or less 2 $140,000 $70,000 $5,846 6.06%

    2022 saw Meadowbrook Financial Mortgage Bankers Corp. place emphasis on $400k-600k loans with 593 originations, totaling $294,425,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 531 $256,075,000 $482,250 $16,941 5.11%
    $150k-250k 336 $192,010,000 $571,458 $18,320 5.33%
    $75k-100k 244 $90,660,000 $371,557 $14,101 4.94%
    $250k+ 102 $62,650,000 $614,216 $15,718 5.55%
    $50k-75k 101 $29,355,000 $290,644 $11,834 4.85%
    $50k or less 40 $9,300,000 $232,500 $11,080 6.56%

    Meadowbrook Financial Mortgage Bankers Corp. lent most frequently to those with incomes in the $100k-150k range, with 531 originations. The second most popular income band? $150k-250k, with 336 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 164 $82,340,000 $502,073 $24,033 5.05%
    49% 146 $71,260,000 $488,082 $16,751 5.23%
    30-36% 135 $54,805,000 $405,963 $11,987 5.12%
    43% 87 $40,035,000 $460,172 $15,335 5.23%
    44% 86 $40,550,000 $471,512 $15,863 5.23%
    20-30% 80 $38,670,000 $483,375 $11,947 4.92%
    46% 75 $38,015,000 $506,867 $18,713 5.21%
    48% 75 $37,635,000 $501,800 $17,196 5.32%
    47% 69 $32,175,000 $466,304 $16,803 5.29%
    45% 69 $32,355,000 $468,913 $14,563 5.07%
    41% 67 $32,165,000 $480,075 $16,019 5.25%
    42% 60 $32,430,000 $540,500 $17,376 5.11%
    39% 50 $20,890,000 $417,800 $12,166 5.01%
    38% 40 $18,470,000 $461,750 $14,204 4.85%
    37% 38 $18,260,000 $480,526 $14,041 5.23%
    40% 37 $19,445,000 $525,541 $15,237 5.30%
    36% 30 $12,750,000 $425,000 $10,572 4.87%
    <20% 29 $12,255,000 $422,586 $12,496 5.39%
    >60% 16 $5,220,000 $326,250 $14,050 8.47%

    Meadowbrook Financial Mortgage Bankers Corp. lent most frequently to those with DTI ratios of 50-60%, with 164 originations. The next most common DTI ratio? 49%, with 146 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 690 $320,690,000 $464,768 $14,003 5.14%
    Black 284 $131,020,000 $461,338 $19,394 5.17%
    Asian 211 $110,975,000 $525,948 $17,122 5.42%
    Not provided 141 $64,515,000 $457,553 $18,213 5.25%
    Asian Indian 19 $8,755,000 $460,789 $19,713 5.03%
    Other Asian 5 $2,545,000 $509,000 $12,928 3.95%
    American Indian 3 $1,055,000 $351,667 $10,637 4.75%
    Native Hawaiian or Islander 1 $495,000 $495,000 $28,601 3.88%

    Approval Rates

    Total approvals of all applications
    96.20%

    Meadowbrook Financial Mortgage Bankers Corp. 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
    21.12%

    Meadowbrook Financial Mortgage Bankers Corp. 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 1,354 $640,050,000 $472,710

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,354 $640,050,000 $472,710

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $12,470,000 $283,409 $10,104 5.04%
    40-60% 126 $50,750,000 $402,778 $11,490 4.75%
    60-80% 457 $212,715,000 $465,460 $14,401 5.33%
    80-100% 709 $356,115,000 $502,278 $18,302 5.20%
    Over 100% 13 $6,905,000 $531,154 $26,112 5.06%
    Under 20% 5 $1,095,000 $219,000 $9,732 5.20%