Mortgage Network Rates, Fees & Info
DANVERS, MALEI: 254900A69XJBWUR7ZF46
Tax ID: 04-2992161
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Mortgage Data
Review & Overview
Mortgage Network is a small mortgage company specializing in Home Purchase loans. Mortgage Network has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Boston, Hilton Head Island, Springfield, Charleston, and Columbia among others. We have data for 108 markets. (Some data included below & more in-depth data is available with an active subscription.)Mortgage Network 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. Mortgage Network is typically an average 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.
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 | 6.56% | 11/25/24 |
| 30 Year Conventional Refi | 6.44% | 11/25/24 |
| 30 Year Cash-out Refi | 6.69% | 11/25/24 |
| 30 Year FHA Purchase | 7.32% | 11/25/24 |
| 30 Year FHA Refi | 7.55% | 11/25/24 |
| 30 Year VA Purchase | 6.26% | 11/25/24 |
| 30 Year USDA Purchase | 6.55% | 11/25/24 |
| 15 Year Conventional Purchase | 5.34% | 11/25/24 |
| 15 Year Conventional Refi | 6.01% | 11/25/24 |
| 15 Year Cash-out Refi | 6.01% | 11/25/24 |
| 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. | ||
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
4,426Origination Dollar Volume (All Markets)
$1,561,690,000Awards
Mortgage Network - 2022
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For 2022, 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 |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1,150 | $534,330,000 | $464,635 | $6,244 | 4.52% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 543 | $224,635,000 | $413,692 | $5,232 | 4.68% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 414 | $101,100,000 | $244,203 | $6,917 | 4.51% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 184 | $75,080,000 | $408,043 | $5,549 | 4.75% |
| COLUMBIA, SC (FHA|USDA|VA) | 222 | $56,940,000 | $256,486 | $4,784 | 4.74% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 211 | $51,905,000 | $245,995 | $6,665 | 4.88% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 190 | $51,630,000 | $271,737 | $6,969 | 5.26% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 151 | $51,425,000 | $340,563 | $6,583 | 5.01% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 122 | $45,830,000 | $375,656 | $6,226 | 4.83% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 102 | $34,080,000 | $334,118 | $5,243 | 4.29% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 114 | $31,460,000 | $275,965 | $6,849 | 4.80% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 142 | $28,940,000 | $203,803 | $6,849 | 4.92% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 84 | $26,060,000 | $310,238 | $6,669 | 4.81% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 67 | $24,065,000 | $359,179 | $5,644 | 5.01% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 37 | $16,425,000 | $443,919 | $4,697 | 4.37% |
| Outside of Metro Areas | 66 | $16,340,000 | $247,576 | $5,930 | 4.66% |
| LANCASTER, PA (FHA|USDA|VA) | 56 | $15,080,000 | $269,286 | $6,210 | 5.13% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 57 | $14,635,000 | $256,754 | $6,197 | 4.97% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 14 | $10,290,000 | $735,000 | $11,185 | 3.96% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 27 | $10,205,000 | $377,963 | $5,457 | 5.13% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 22 | $9,090,000 | $413,182 | $7,123 | 4.42% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 18 | $8,350,000 | $463,889 | $5,114 | 4.49% |
| SAVANNAH, GA (FHA|USDA|VA) | 26 | $8,310,000 | $319,615 | $7,583 | 5.24% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 20 | $7,440,000 | $372,000 | $4,911 | 4.97% |
| BANGOR, ME (FHA|USDA|VA) | 27 | $6,545,000 | $242,407 | $6,646 | 4.03% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 18 | $5,440,000 | $302,222 | $5,494 | 4.94% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 21 | $5,325,000 | $253,571 | $6,520 | 4.77% |
| Lebanon, NH-VT (FHA|USDA|VA) | 19 | $4,965,000 | $261,316 | $5,945 | 5.05% |
| LEBANON, PA (FHA|USDA|VA) | 18 | $4,730,000 | $262,778 | $7,365 | 5.20% |
| Concord, NH (FHA|USDA|VA) | 17 | $4,645,000 | $273,235 | $6,860 | 5.04% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 13 | $3,415,000 | $262,692 | $4,771 | 4.64% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 9 | $3,205,000 | $356,111 | $5,678 | 3.54% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 13 | $2,935,000 | $225,769 | $6,363 | 6.19% |
| SPARTANBURG, SC (FHA|USDA|VA) | 10 | $2,660,000 | $266,000 | $5,179 | 4.91% |
| Cambridge, MD (FHA|USDA|VA) | 10 | $2,650,000 | $265,000 | $7,738 | 4.77% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 4 | $2,610,000 | $652,500 | $7,879 | 4.84% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 10 | $2,430,000 | $243,000 | $5,963 | 4.17% |
| PITTSFIELD, MA (FHA|USDA|VA) | 9 | $2,405,000 | $267,222 | $7,383 | 5.75% |
| Laconia, NH (FHA|USDA|VA) | 9 | $2,405,000 | $267,222 | $5,193 | 5.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 5 | $2,125,000 | $425,000 | $6,171 | 5.33% |
| ASHEVILLE, NC (FHA|USDA|VA) | 6 | $2,030,000 | $338,333 | $5,275 | 4.39% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 5 | $1,975,000 | $395,000 | $6,380 | 4.58% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 4 | $1,950,000 | $487,500 | $3,796 | 4.34% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 10 | $1,940,000 | $194,000 | $5,700 | 5.36% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 3 | $1,935,000 | $645,000 | $9,516 | 4.54% |
| PITTSBURGH, PA (FHA|USDA|VA) | 6 | $1,900,000 | $316,667 | $7,605 | 6.43% |
| Torrington, CT (FHA|USDA|VA) | 8 | $1,870,000 | $233,750 | $5,965 | 5.13% |
| WILMINGTON, NC (FHA|USDA|VA) | 4 | $1,670,000 | $417,500 | $4,201 | 5.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 5 | $1,605,000 | $321,000 | $6,344 | 4.52% |
| GETTYSBURG, PA (FHA|USDA|VA) | 11 | $1,475,000 | $134,091 | $4,601 | 4.43% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $1,410,000 | $352,500 | $6,707 | 5.00% |
| DOVER, DE (FHA|USDA|VA) | 7 | $1,385,000 | $197,857 | $7,558 | 4.59% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $1,375,000 | $458,333 | $6,641 | 4.88% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 4 | $1,300,000 | $325,000 | $4,958 | 5.25% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 3 | $1,125,000 | $375,000 | $8,232 | 4.50% |
| SUMTER, SC (FHA|USDA|VA) | 5 | $1,115,000 | $223,000 | $8,570 | 5.27% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 4 | $1,060,000 | $265,000 | $6,343 | 4.03% |
| READING, PA (FHA|USDA|VA) | 5 | $1,045,000 | $209,000 | $6,272 | 3.75% |
| FLORENCE, SC (FHA|USDA|VA) | 5 | $1,025,000 | $205,000 | $7,459 | 4.20% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 5 | $1,025,000 | $205,000 | $4,276 | 3.85% |
| Georgetown, SC (FHA|USDA|VA) | 2 | $960,000 | $480,000 | $10,625 | 5.19% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 3 | $945,000 | $315,000 | $4,612 | 4.67% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $6,199 | 4.62% |
| Seneca, SC (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $5,868 | 6.31% |
| Newberry, SC (FHA|USDA|VA) | 4 | $730,000 | $182,500 | $4,551 | 5.72% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $4,608 | 4.50% |
| HINESVILLE, GA (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $5,618 | 4.19% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $4,680 | 4.63% |
| Statesboro, GA (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $4,052 | 5.31% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $3,101 | 4.62% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $7,335 | 4.68% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $4,119 | 5.25% |
| Easton, MD (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $8,618 | 3.44% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $10,138 | 4.69% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $4,630 | 6.25% |
| Brevard, NC (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $8,084 | 3.50% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $6,975 | 4.69% |
| Keene, NH (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $6,070 | 5.99% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $3,780 | 5.25% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $4,706 | 3.75% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $16,234 | 5.63% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $10,822 | 4.88% |
| Pottsville, PA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $6,647 | 4.38% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $20,340 | 5.13% |
| BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,198 | 3.50% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $7,214 | 3.63% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $7,905 | 5.99% |
| Rockingham, NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $7,170 | 3.25% |
| Marion, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $6,320 | 3.75% |
| Forest City, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,827 | 3.25% |
| Dublin, GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,363 | 5.50% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 6.38% |
| Albemarle, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,067 | 5.25% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,027 | 5.88% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,938 | 4.13% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,809 | 5.50% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,291 | 3.88% |
| Boone, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,853 | 4.75% |
| OCALA, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,048 | 3.88% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,199 | 3.13% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,822 | 3.38% |
| Henderson, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,784 | 7.00% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,254 | 3.63% |
| Lewisburg, PA (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $2,973 | 2.63% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,815 | 6.88% |
| ERIE, PA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $7,354 | 5.25% |
| Bradford, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $6,348 | 4.25% |
| Berlin, NH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,352 | 2.88% |
Their top states include:
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Product Mix
For 2022, Mortgage Network's most frequently originated type of loan was Conventional, with 3,719 originations. Their 2nd most popular type was FHA, with 483 originations.
Loan Reason
For 2022, Mortgage Network's most frequently cited loan purpose was Home Purchase, with 3,658 originations. The 2nd most popular reason was Cash Out Refi, with 449 originations.
Loan Duration/Length
For 2022, Mortgage Network's most frequently cited loan duration was 30 Year, with 4,147 originations. The 2nd most popular length was 15 Year, with 197 originations.
Origination Fees/Closing Costs
Mortgage Network's average total fees were $6,347, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,409 originations.
Interest Rates
During 2022, Mortgage Network's average interest rate for loans was 4.82%, while their most frequently originated rate bucket for loans was 3-4%, with 1,249 originations.
Loan Sizing
2022 saw Mortgage Network place emphasis on $200k-400k loans with 2,204 originations, totaling $637,920,000 in origination value.
Applicant Income
Mortgage Network lent most frequently to those with incomes in the $100k-150k range, with 1,017 originations. The second most popular income band? $50k-75k, with 897 originations.
Applicant Debt to Income Ratio
Mortgage Network lent most frequently to those with DTI ratios of 20-30%, with 764 originations. The next most common DTI ratio? 30-36%, with 737 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.70%
Mortgage Network has an average approval rate.
Pick Rate
Approvals leading to origination80.57%
Mortgage Network has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 4,426 | $1,561,690,000 | $352,845 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4,426 | $1,561,690,000 | $352,845 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Mortgage Research Center, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| Mortgage Research Center, LLC | VA mortgage | Trouble during payment process | 1 | 50.0% |