Mortgage Assurance Rates, Fees & Info

Norcross, GA

LEI: 254900AD895KKZTSFT42

Tax ID: 27-0202259

5 stars - Updated: 5/20/24 - out of 5 stars, based on 22 reviews

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

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Mortgage Data

Review & Overview

Mortgage Assurance is a smaller mortgage company specializing in Home Purchase loans. Mortgage Assurance 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: Atlanta, Chicago, Charlotte, Fayetteville, and Tampa among others. We have data for 73 markets. (Some data included below & more in-depth data is available with an active subscription.)

Mortgage Assurance 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 Assurance 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 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 6.54% 5/20/24
30 Year Conventional Refi 6.41% 5/20/24
30 Year Cash-out Refi 6.69% 5/20/24
30 Year FHA Purchase 7.09% 5/20/24
30 Year FHA Refi 6.94% 5/20/24
30 Year VA Purchase 6.27% 5/20/24
30 Year USDA Purchase 6.69% 5/20/24
15 Year Conventional Purchase 5.93% 5/20/24
15 Year Conventional Refi 5.79% 5/20/24
15 Year Cash-out Refi 5.79% 5/20/24
15 Year FHA Refi 5.68% 5/20/24
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.

Mortgage Assurance Mortgage Calculator






Your Estimates

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

This is not an official calculator from Mortgage Assurance. 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

505

Origination Dollar Volume (All Markets)

$171,715,000
Show all (5) awards

Relative Rate

Mortgage Assurance's average 30 year fixed mortgage rate was 6.71%.

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

This yields a difference of 0.23%.

Relative Fees (Closing Costs)

Mortgage Assurance's average total fees/closing costs for a 30 year fixed rate mortgage were $7,829.

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
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 245 $90,815,000 $370,673 $8,065 6.62%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 49 $13,555,000 $276,633 $9,072 6.78%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 15 $5,355,000 $357,000 $8,222 6.73%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 15 $5,235,000 $349,000 $8,898 6.53%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 13 $4,455,000 $342,692 $5,388 7.12%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 10 $4,070,000 $407,000 $8,572 6.71%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 14 $3,240,000 $231,429 $4,555 7.11%
Outside of Metro Areas 9 $2,905,000 $322,778 $8,147 7.01%
GAINESVILLE, GA (FHA|USDA|VA) 7 $2,765,000 $395,000 $7,007 6.63%
WILMINGTON, NC (FHA|USDA|VA) 7 $2,315,000 $330,714 $6,966 6.57%
Jefferson, GA (FHA|USDA|VA) 6 $2,220,000 $370,000 $6,593 6.96%
SAVANNAH, GA (FHA|USDA|VA) 5 $2,115,000 $423,000 $7,258 6.40%
COLUMBIA, SC (FHA|USDA|VA) 6 $1,860,000 $310,000 $7,554 6.83%
SPARTANBURG, SC (FHA|USDA|VA) 6 $1,670,000 $278,333 $7,104 6.18%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 5 $1,475,000 $295,000 $5,897 6.80%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 7 $1,275,000 $182,143 $4,556 6.77%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $1,265,000 $421,667 $8,239 6.17%
FORT WAYNE, IN (FHA|USDA|VA) 6 $1,100,000 $183,333 $6,329 7.06%
ROME, GA (FHA|USDA|VA) 5 $1,025,000 $205,000 $4,959 6.43%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $1,025,000 $1,025,000 $21,461 6.88%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $1,005,000 $335,000 $8,468 7.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $960,000 $480,000 $7,066 7.13%
ASHEVILLE, NC (FHA|USDA|VA) 2 $920,000 $460,000 $2,931 6.75%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $900,000 $450,000 $4,956 7.69%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $725,000 $725,000 $4,542 6.13%
PANAMA CITY, FL (FHA|USDA|VA) 1 $725,000 $725,000 $13,875 6.63%
RICHMOND, VA (FHA|USDA|VA) 1 $715,000 $715,000 $6,026 6.50%
GREELEY, CO (FHA|USDA|VA) 1 $665,000 $665,000 $0 6.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $650,000 $325,000 $16,004 6.13%
Whitewater, WI (FHA|USDA|VA) 1 $635,000 $635,000 $18,550 7.75%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $630,000 $315,000 $8,861 6.63%
Warsaw, IN (FHA|USDA|VA) 2 $590,000 $295,000 $4,859 6.69%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 2 $590,000 $295,000 $7,535 7.38%
ELKHART-GOSHEN, IN (FHA|USDA|VA) 3 $585,000 $195,000 $3,878 7.13%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $550,000 $275,000 $3,797 6.38%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 2 $530,000 $265,000 $6,318 6.44%
WARNER ROBINS, GA (FHA|USDA|VA) 2 $530,000 $265,000 $9,024 6.00%
Roanoke Rapids, NC (FHA|USDA|VA) 1 $525,000 $525,000 $9,952 6.13%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $520,000 $260,000 $8,051 5.88%
FORT COLLINS, CO (FHA|USDA|VA) 1 $515,000 $515,000 $2,820 6.13%
Concord, NH (FHA|USDA|VA) 2 $500,000 $250,000 $3,226 6.56%
Georgetown, SC (FHA|USDA|VA) 2 $480,000 $240,000 $5,686 6.69%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $465,000 $465,000 $5,078 7.50%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $460,000 $230,000 $9,692 6.00%
BURLINGTON, NC (FHA|USDA|VA) 1 $455,000 $455,000 $0 7.63%
Greenwood, SC (FHA|USDA|VA) 1 $405,000 $405,000 $0 6.25%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $375,000 $375,000 $7,822 6.63%
NEW BERN, NC (FHA|USDA|VA) 1 $355,000 $355,000 $9,882 6.63%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $345,000 $345,000 $13,060 5.75%
MUNCIE, IN (FHA|USDA|VA) 1 $305,000 $305,000 $0 8.00%
KANKAKEE, IL (FHA|USDA|VA) 1 $295,000 $295,000 $4,163 7.25%
SUMTER, SC (FHA|USDA|VA) 1 $295,000 $295,000 $7,037 5.63%
Ottawa, IL (FHA|USDA|VA) 1 $275,000 $275,000 $9,582 6.25%
Dublin, GA (FHA|USDA|VA) 1 $275,000 $275,000 $5,783 5.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $255,000 $255,000 $13,149 5.75%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $245,000 $245,000 $5,342 7.13%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $245,000 $245,000 $6,516 7.50%
OCALA, FL (FHA|USDA|VA) 1 $235,000 $235,000 $5,168 7.13%
Bainbridge, GA (FHA|USDA|VA) 1 $215,000 $215,000 $3,330 7.50%
Cullowhee, NC (FHA|USDA|VA) 1 $215,000 $215,000 $3,213 6.13%
Albemarle, NC (FHA|USDA|VA) 1 $215,000 $215,000 $8,482 6.00%
ROCKFORD, IL (FHA|USDA|VA) 1 $205,000 $205,000 $9,205 6.63%
Seneca, SC (FHA|USDA|VA) 1 $205,000 $205,000 $3,684 6.38%
Summerville, GA (FHA|USDA|VA) 1 $205,000 $205,000 $5,950 6.63%
LaGrange, GA-AL (FHA|USDA|VA) 1 $165,000 $165,000 $4,217 6.63%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $145,000 $145,000 $4,906 8.63%
Marion, NC (FHA|USDA|VA) 1 $135,000 $135,000 $6,846 9.38%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $115,000 $115,000 $3,120 7.00%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $95,000 $95,000 $6,972 6.88%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $95,000 $95,000 $7,291 7.63%
Sterling, IL (FHA|USDA|VA) 1 $95,000 $95,000 $4,619 6.75%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $85,000 $85,000 $5,086 7.00%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $55,000 $55,000 $3,233 7.13%
Mortgage Assurance's top markets include Atlanta, Chicago, Charlotte, Fayetteville, and Tampa among others.

Their top states include:
  • Georgia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

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

    First Savings Bank of Hegewisch
    Similarity Rank: 46
    SCIENT Federal Credit Union
    Similarity Rank: 110
    Liberty Bank for Savings
    Similarity Rank: 279
    GREENVILLE FEDERAL CREDIT UNION
    Similarity Rank: 376
    Chesapeake Bank
    Similarity Rank: 396
    IDB Global Federal Credit Union
    Similarity Rank: 416
    LAKE MORTGAGE COMPANY INC
    Similarity Rank: 417
    Barley Mortgage, LLC
    Similarity Rank: 420
    DuPage Credit Union
    Similarity Rank: 423

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 371 $129,385,000 $348,747 $6,560 6.82%
    FHA 111 $35,045,000 $315,721 $11,518 6.32%
    VA 16 $5,710,000 $356,875 $9,258 6.32%
    USDA 7 $1,575,000 $225,000 $6,260 6.32%

    For 2023, Mortgage Assurance's most frequently originated type of loan was Conventional, with 371 originations. Their 2nd most popular type was FHA, with 111 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 428 $148,520,000 $347,009 $7,803 6.70%
    Cash Out Refi 49 $15,055,000 $307,245 $8,028 6.65%
    Refi 28 $8,140,000 $290,714 $6,498 6.58%

    For 2023, Mortgage Assurance's most frequently cited loan purpose was Home Purchase, with 428 originations. The 2nd most popular reason was Cash Out Refi, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 488 $165,980,000 $340,123 $7,829 6.71%
    15 Year 14 $5,150,000 $367,857 $5,752 6.11%
    20 Year 2 $470,000 $235,000 $5,754 6.56%
    10 Year 1 $115,000 $115,000 $4,167 5.38%

    For 2023, Mortgage Assurance's most frequently cited loan duration was 30 Year, with 488 originations. The 2nd most popular length was 15 Year, with 14 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 118 $36,820,000 $312,034
    $5k+ 108 $44,300,000 $410,185
    $2k-3k 47 $12,155,000 $258,617
    $4k-5k 46 $14,770,000 $321,087
    $<1k 42 $14,950,000 $355,952
    $3k-4k 40 $11,940,000 $298,500

    Mortgage Assurance's average total fees were $7,829, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 118 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 251 $86,055,000 $342,849
    7-8% 142 $47,080,000 $331,549
    5-6% 93 $32,395,000 $348,333
    Over 8% 15 $4,485,000 $299,000
    4-5% 4 $1,700,000 $425,000

    During 2023, Mortgage Assurance's average interest rate for loans was 6.71%, while their most frequently originated rate bucket for loans was 6-7%, with 251 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 275 $81,275,000 $295,545 $7,811 6.65%
    $400k-600k 108 $51,200,000 $474,074 $8,800 6.72%
    $100k-200k 69 $10,685,000 $154,855 $5,430 6.76%
    $600k-1MM 39 $26,475,000 $678,846 $9,378 6.59%
    $100,000 or less 13 $1,055,000 $81,154 $4,719 7.18%
    $1MM+ 1 $1,025,000 $1,025,000 $21,461 6.88%

    2023 saw Mortgage Assurance place emphasis on $200k-400k loans with 275 originations, totaling $81,275,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 146 $50,590,000 $346,507 $7,877 6.75%
    $150k-250k 111 $47,225,000 $425,450 $7,394 6.78%
    $75k-100k 88 $25,800,000 $293,182 $8,302 6.58%
    $50k-75k 77 $17,785,000 $230,974 $7,139 6.52%
    $250k+ 45 $23,495,000 $522,111 $9,487 6.82%
    $50k or less 34 $5,200,000 $152,941 $5,748 6.61%

    Mortgage Assurance lent most frequently to those with incomes in the $100k-150k range, with 146 originations. The second most popular income band? $150k-250k, with 111 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 73 $27,225,000 $372,945 $7,524 6.72%
    20-30% 72 $23,860,000 $331,389 $6,453 6.69%
    50-60% 47 $17,065,000 $363,085 $10,750 6.32%
    49% 31 $10,205,000 $329,194 $7,830 6.74%
    45% 31 $10,275,000 $331,452 $8,277 6.57%
    44% 27 $7,425,000 $275,000 $7,613 6.66%
    <20% 23 $6,215,000 $270,217 $6,627 6.85%
    41% 22 $7,480,000 $340,000 $7,344 6.58%
    39% 21 $7,485,000 $356,429 $9,063 6.51%
    48% 20 $6,470,000 $323,500 $9,837 6.69%
    42% 19 $5,695,000 $299,737 $6,634 6.80%
    47% 18 $5,740,000 $318,889 $8,033 6.73%
    36% 18 $6,600,000 $366,667 $6,966 6.89%
    43% 17 $6,015,000 $353,824 $6,386 6.76%
    38% 16 $5,100,000 $318,750 $7,241 6.88%
    46% 15 $5,525,000 $368,333 $5,906 6.82%
    37% 15 $6,265,000 $417,667 $9,755 6.70%
    40% 13 $4,325,000 $332,692 $5,009 7.10%

    Mortgage Assurance lent most frequently to those with DTI ratios of 30-36%, with 73 originations. The next most common DTI ratio? 20-30%, with 72 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 297 $101,045,000 $340,219 $7,335 6.75%
    Not provided 78 $24,600,000 $315,385 $7,302 6.63%
    Black 71 $22,715,000 $319,930 $9,865 6.54%
    Asian 56 $21,890,000 $390,893 $7,503 6.69%
    American Indian 2 $780,000 $390,000 $11,232 6.56%
    Asian Indian 1 $685,000 $685,000 $10,691 6.00%

    Approval Rates

    Total approvals of all applications
    97.30%

    Mortgage Assurance 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
    50.50%

    Mortgage Assurance 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 505 $171,715,000 $340,030

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    505 $171,715,000 $340,030

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 18 $3,400,000 $188,889 $5,554 6.61%
    40-60% 50 $13,430,000 $268,600 $5,831 6.61%
    60-80% 125 $43,935,000 $351,480 $7,034 6.87%
    80-100% 299 $107,005,000 $357,876 $8,519 6.64%
    Over 100% 3 $885,000 $295,000 $12,891 6.00%
    Under 20% 4 $450,000 $112,500 $4,125 6.75%