Meadowbrook Financial Mortgage Bankers Corp. Rates, Fees & Info

ALBANY, NY

LEI: 2549008X67CV1MNM7747

Tax ID: 37-1572886

1 stars - Updated: 6/17/24 - out of 5 stars, based on 36 reviews

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

Jump to:

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. Their top markets by origination volume include: New York, Bridgeport, Miami, Poughkeepsie, and New Haven among others. We have data for 72 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% 6/17/24
30 Year Conventional Refi 6.57% 6/17/24
30 Year Cash-out Refi 6.92% 6/17/24
30 Year FHA Purchase 7.42% 6/17/24
30 Year FHA Refi 6.90% 6/17/24
30 Year VA Purchase 6.36% 6/17/24
15 Year Conventional Purchase 6.32% 6/17/24
15 Year Conventional Refi 6.43% 6/17/24
15 Year Cash-out Refi 6.43% 6/17/24
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

1,265

Origination Dollar Volume (All Markets)

$616,745,000

Relative Rate

Meadowbrook Financial Mortgage Bankers Corp.'s average 30 year fixed mortgage rate was 7.06%.

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

This yields a difference of 0.58%.

Relative Fees (Closing Costs)

Meadowbrook Financial Mortgage Bankers Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $17,796.

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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 951 $506,725,000 $532,834 $18,989 7.00%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 40 $20,090,000 $502,250 $19,231 7.05%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 28 $13,410,000 $478,929 $16,368 7.22%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 23 $8,925,000 $388,043 $14,974 6.99%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 16 $5,320,000 $332,500 $15,412 7.32%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 12 $3,690,000 $307,500 $14,435 7.01%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 13 $3,545,000 $272,692 $9,918 7.45%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 8 $3,160,000 $395,000 $14,798 7.25%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 9 $3,005,000 $333,889 $12,134 7.06%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 10 $2,890,000 $289,000 $14,597 7.18%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 9 $2,765,000 $307,222 $11,375 7.24%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $2,605,000 $868,333 $21,233 7.21%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 8 $2,520,000 $315,000 $12,215 7.58%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 7 $2,375,000 $339,286 $12,449 6.88%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 8 $1,990,000 $248,750 $11,271 7.92%
Outside of Metro Areas 7 $1,915,000 $273,571 $13,391 7.29%
EAST STROUDSBURG, PA (FHA|USDA|VA) 6 $1,790,000 $298,333 $15,033 7.63%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $1,740,000 $435,000 $13,565 8.25%
Torrington, CT (FHA|USDA|VA) 3 $1,575,000 $525,000 $19,100 7.08%
ROCHESTER, NY (FHA|USDA|VA) 6 $1,560,000 $260,000 $12,148 6.85%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 4 $1,450,000 $362,500 $11,651 6.31%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 3 $1,275,000 $425,000 $15,608 7.67%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 2 $1,230,000 $615,000 $20,370 6.81%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $1,230,000 $615,000 $24,763 7.94%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 4 $1,200,000 $300,000 $13,133 6.97%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $1,145,000 $381,667 $16,496 7.54%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 6 $1,010,000 $168,333 $9,187 7.53%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 4 $960,000 $240,000 $11,496 7.31%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 6 $960,000 $160,000 $8,297 7.29%
SAVANNAH, GA (FHA|USDA|VA) 3 $815,000 $271,667 $13,081 7.38%
PORT ST. LUCIE, FL (FHA|USDA|VA) 3 $805,000 $268,333 $11,128 7.08%
KNOXVILLE, TN (FHA|USDA|VA) 2 $630,000 $315,000 $8,886 8.56%
KINGSTON, NY (FHA|USDA|VA) 2 $590,000 $295,000 $13,623 6.69%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 4 $580,000 $145,000 $7,868 7.53%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 2 $570,000 $285,000 $13,954 7.81%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $500,000 $250,000 $11,875 7.50%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $485,000 $485,000 $12,984 7.63%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 2 $470,000 $235,000 $8,829 6.88%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $470,000 $235,000 $7,364 8.25%
WILMINGTON, NC (FHA|USDA|VA) 1 $445,000 $445,000 $18,310 6.25%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $405,000 $405,000 $6,464 6.75%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $385,000 $385,000 $24,267 6.13%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $375,000 $375,000 $12,566 8.13%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $365,000 $365,000 $21,955 6.63%
Corning, NY (FHA|USDA|VA) 1 $345,000 $345,000 $9,851 7.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $345,000 $345,000 $16,452 5.63%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $335,000 $335,000 $11,858 10.63%
Concord, NH (FHA|USDA|VA) 1 $325,000 $325,000 $7,683 7.13%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $315,000 $315,000 $13,081 6.50%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $315,000 $315,000 $20,475 7.25%
BINGHAMTON, NY (FHA|USDA|VA) 2 $310,000 $155,000 $8,451 8.88%
SAGINAW, MI (FHA|USDA|VA) 1 $305,000 $305,000 $15,013 6.63%
RICHMOND, VA (FHA|USDA|VA) 1 $305,000 $305,000 $9,213 6.63%
THE VILLAGES, FL (FHA|USDA|VA) 2 $300,000 $150,000 $8,670 7.63%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $295,000 $295,000 $14,130 5.75%
PITTSBURGH, PA (FHA|USDA|VA) 2 $290,000 $145,000 $6,623 6.50%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $275,000 $275,000 $8,910 6.13%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $255,000 $255,000 $10,797 6.75%
UTICA-ROME, NY (FHA|USDA|VA) 1 $255,000 $255,000 $5,437 6.63%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 1 $245,000 $245,000 $14,354 7.25%
COLUMBIA, SC (FHA|USDA|VA) 2 $240,000 $120,000 $5,723 7.25%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $235,000 $235,000 $8,808 6.88%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $205,000 $205,000 $8,460 7.13%
OCALA, FL (FHA|USDA|VA) 1 $185,000 $185,000 $10,154 7.50%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $185,000 $185,000 $4,263 6.63%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 1 $175,000 $175,000 $13,827 6.25%
LOUISVILLE, KY (FHA|USDA|VA) 1 $145,000 $145,000 $9,145 6.25%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $145,000 $145,000 $14,042 7.18%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $135,000 $135,000 $7,621 7.38%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $125,000 $125,000 $6,274 7.13%
Batavia, NY (FHA|USDA|VA) 1 $115,000 $115,000 $6,190 6.88%
Bradford, PA (FHA|USDA|VA) 1 $95,000 $95,000 $7,043 7.50%
Meadowbrook Financial Mortgage Bankers Corp.'s top markets include New York, Bridgeport, Miami, Poughkeepsie, and New Haven among others.

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

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

    Walden Savings Bank
    Similarity Rank: 15
    The Torrington Savings Bank
    Similarity Rank: 40
    SIKORSKY FINANCIAL
    Similarity Rank: 75
    Thomaston Savings Bank
    Similarity Rank: 90
    N C P D Federal Credit Union
    Similarity Rank: 126
    The Milford Bank
    Similarity Rank: 132
    ESSA Bank & Trust
    Similarity Rank: 132
    MID-HUDSON VALLEY
    Similarity Rank: 140
    Columbia Bank
    Similarity Rank: 156

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 941 $444,985,000 $472,885 $14,737 7.20%
    FHA 307 $163,755,000 $533,404 $26,924 6.63%
    VA 17 $8,005,000 $470,882 $19,139 6.65%

    For 2023, Meadowbrook Financial Mortgage Bankers Corp.'s most frequently originated type of loan was Conventional, with 941 originations. Their 2nd most popular type was FHA, with 307 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,105 $547,845,000 $495,787 $17,914 6.99%
    Cash Out Refi 134 $56,080,000 $418,507 $16,393 7.56%
    Refi 26 $12,820,000 $493,077 $17,561 7.32%

    For 2023, Meadowbrook Financial Mortgage Bankers Corp.'s most frequently cited loan purpose was Home Purchase, with 1,105 originations. The 2nd most popular reason was Cash Out Refi, with 134 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,253 $612,325,000 $488,687 $17,796 7.06%
    15 Year 7 $2,675,000 $382,143 $11,328 6.05%
    20 Year 2 $920,000 $460,000 $19,423 6.13%
    10 Year 1 $5,000 $5,000 $0 9.75%
    30+ year 1 $285,000 $285,000 $11,156 8.00%
    Other 1 $535,000 $535,000 $21,180 7.50%

    For 2023, Meadowbrook Financial Mortgage Bankers Corp.'s most frequently cited loan duration was 30 Year, with 1,253 originations. The 2nd most popular length was 15 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 1,079 $555,225,000 $514,574
    $1k-2k 68 $28,870,000 $424,559
    $4k-5k 51 $13,385,000 $262,451
    $3k-4k 45 $14,015,000 $311,444
    $2k-3k 21 $5,245,000 $249,762
    $<1k 1 $5,000 $5,000

    Meadowbrook Financial Mortgage Bankers Corp.'s average total fees were $17,796, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 1,079 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 584 $288,380,000 $493,801
    7-8% 427 $211,555,000 $495,445
    Over 8% 132 $59,160,000 $448,182
    5-6% 121 $57,175,000 $472,521
    4-5% 1 $475,000 $475,000

    During 2023, Meadowbrook Financial Mortgage Bankers Corp.'s average interest rate for loans was 7.06%, while their most frequently originated rate bucket for loans was 6-7%, with 584 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 473 $234,975,000 $496,776 $17,941 6.94%
    $600k-1MM 345 $242,845,000 $703,899 $24,315 7.06%
    $200k-400k 332 $100,290,000 $302,078 $12,307 7.11%
    $100k-200k 91 $14,115,000 $155,110 $8,234 7.38%
    $1MM+ 19 $24,175,000 $1,272,368 $37,100 7.30%
    $100,000 or less 5 $345,000 $69,000 $5,050 8.28%

    2023 saw Meadowbrook Financial Mortgage Bankers Corp. place emphasis on $400k-600k loans with 473 originations, totaling $234,975,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 412 $192,540,000 $467,330 $18,405 6.80%
    $150k-250k 401 $234,795,000 $585,524 $20,009 7.05%
    $75k-100k 167 $55,645,000 $333,204 $13,612 6.76%
    $250k+ 123 $85,825,000 $697,764 $20,213 7.39%
    $50k or less 90 $30,780,000 $342,000 $14,156 8.45%
    $50k-75k 72 $17,160,000 $238,333 $11,196 6.92%

    Meadowbrook Financial Mortgage Bankers Corp. lent most frequently to those with incomes in the $100k-150k range, with 412 originations. The second most popular income band? $150k-250k, with 401 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 185 $99,555,000 $538,135 $25,005 6.69%
    49% 129 $66,705,000 $517,093 $18,397 6.86%
    30-36% 108 $49,040,000 $454,074 $14,210 7.04%
    47% 85 $43,355,000 $510,059 $18,769 6.86%
    48% 83 $40,765,000 $491,145 $18,529 6.94%
    20-30% 74 $31,460,000 $425,135 $12,399 7.33%
    45% 66 $31,740,000 $480,909 $16,855 6.85%
    >60% 65 $25,275,000 $388,846 $15,154 8.68%
    46% 65 $32,435,000 $499,000 $17,995 6.85%
    43% 63 $32,395,000 $514,206 $17,346 6.97%
    44% 63 $31,405,000 $498,492 $17,103 6.96%
    42% 52 $28,880,000 $555,385 $16,963 7.01%
    41% 43 $19,245,000 $447,558 $15,193 7.12%
    39% 39 $18,315,000 $469,615 $16,583 7.09%
    40% 35 $16,055,000 $458,714 $17,381 6.96%
    37% 33 $16,625,000 $503,788 $14,945 7.04%
    38% 26 $11,930,000 $458,846 $14,727 7.09%
    36% 24 $9,650,000 $402,083 $14,589 7.21%
    <20% 19 $9,415,000 $495,526 $15,582 7.93%

    Meadowbrook Financial Mortgage Bankers Corp. lent most frequently to those with DTI ratios of 50-60%, with 185 originations. The next most common DTI ratio? 49%, with 129 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 532 $253,200,000 $475,940 $15,614 7.07%
    Not provided 260 $126,050,000 $484,808 $17,848 7.06%
    Asian 219 $115,675,000 $528,196 $18,616 7.09%
    Black 219 $106,085,000 $484,406 $21,891 7.02%
    Asian Indian 30 $13,530,000 $451,000 $17,489 7.00%
    American Indian 4 $1,770,000 $442,500 $22,226 6.84%
    Filipino 1 $435,000 $435,000 $21,988 6.25%

    Approval Rates

    Total approvals of all applications
    94.50%

    Meadowbrook Financial Mortgage Bankers Corp. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    45.45%

    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 1,265 $616,745,000 $487,545

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,265 $616,745,000 $487,545

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 37 $10,525,000 $284,459 $10,608 7.15%
    40-60% 97 $41,575,000 $428,608 $14,667 7.10%
    60-80% 405 $182,555,000 $450,753 $15,589 7.37%
    80-100% 713 $376,225,000 $527,665 $19,744 6.87%
    Over 100% 6 $3,870,000 $645,000 $26,330 6.75%
    Under 20% 7 $1,995,000 $285,000 $11,185 7.34%