Ml Mortgage Corp. Rates, Fees & Info

Rancho Cucamonga, CA

LEI: 254900JH11ROOV921P96

Tax ID: 20-8922230

1 stars - Updated: 7/11/24 - out of 5 stars, based on 24 reviews

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

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Mortgage Data

Review & Overview

Ml Mortgage Corp. is a smaller mortgage company specializing in Home Purchase loans. Ml Mortgage Corp. has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Riverside, Los Angeles, Las Vegas, Phoenix, and Dallas among others. We have data for 38 markets. (Some data included below & more in-depth data is available with an active subscription.)

Ml Mortgage 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. Ml Mortgage 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 7.00% 7/11/24
30 Year Conventional Refi 6.72% 7/11/24
30 Year Cash-out Refi 6.90% 7/11/24
30 Year FHA Purchase 7.39% 7/11/24
30 Year FHA Refi 7.22% 7/11/24
30 Year VA Purchase 6.64% 7/11/24
30 Year VA Refi 6.27% 7/11/24
30 Year USDA Purchase 6.27% 7/11/24
15 Year Conventional Purchase 6.31% 7/11/24
15 Year Conventional Refi 6.24% 7/11/24
15 Year Cash-out Refi 6.24% 7/11/24
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.

Ml Mortgage Corp. Mortgage Calculator






Your Estimates

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

This is not an official calculator from Ml Mortgage 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

554

Origination Dollar Volume (All Markets)

$225,230,000

Relative Rate

Ml Mortgage Corp.'s average 30 year fixed mortgage rate was 6.88%.

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

This yields a difference of 0.4%.

Relative Fees (Closing Costs)

Ml Mortgage Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $15,326.

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
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 183 $78,875,000 $431,011 $16,026 6.73%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 66 $41,570,000 $629,848 $20,095 6.80%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 122 $39,300,000 $322,131 $11,313 6.38%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 51 $15,795,000 $309,706 $14,755 7.11%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 29 $13,115,000 $452,241 $13,751 7.27%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 24 $7,360,000 $306,667 $16,053 6.93%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 10 $6,770,000 $677,000 $20,867 6.69%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 7 $4,545,000 $649,286 $10,743 6.61%
MODESTO, CA (FHA|USDA|VA) 6 $2,140,000 $356,667 $14,422 7.13%
STOCKTON, CA (FHA|USDA|VA) 5 $1,705,000 $341,000 $14,428 6.88%
BAKERSFIELD, CA (FHA|USDA|VA) 6 $1,510,000 $251,667 $10,470 6.58%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 3 $1,165,000 $388,333 $14,430 6.25%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $1,140,000 $570,000 $16,812 6.69%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 6 $920,000 $153,333 $4,815 7.17%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $860,000 $430,000 $13,267 7.81%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $740,000 $370,000 $13,822 6.63%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $570,000 $285,000 $8,655 7.25%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $545,000 $181,667 $8,025 7.21%
SAN ANGELO, TX (FHA|USDA|VA) 1 $525,000 $525,000 $21,756 7.50%
VALLEJO, CA (FHA|USDA|VA) 2 $510,000 $255,000 $9,359 6.31%
Outside of Metro Areas 2 $500,000 $250,000 $9,664 7.63%
LUBBOCK, TX (FHA|USDA|VA) 1 $475,000 $475,000 $22,597 7.25%
TUCSON, AZ (FHA|USDA|VA) 2 $440,000 $220,000 $0 7.19%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $395,000 $395,000 $12,813 5.50%
TYLER, TX (FHA|USDA|VA) 2 $370,000 $185,000 $6,846 6.56%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $365,000 $365,000 $20,710 6.25%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $345,000 $345,000 $12,427 6.25%
Sonora, CA (FHA|USDA|VA) 1 $335,000 $335,000 $10,144 6.25%
Pahrump, NV (FHA|USDA|VA) 1 $325,000 $325,000 $20,534 6.25%
MADERA, CA (FHA|USDA|VA) 1 $315,000 $315,000 $14,029 5.75%
FRESNO, CA (FHA|USDA|VA) 1 $285,000 $285,000 $13,230 6.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $285,000 $285,000 $11,132 7.63%
Lewisburg, TN (FHA|USDA|VA) 1 $265,000 $265,000 $7,626 6.50%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $245,000 $245,000 $15,011 7.25%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 1 $175,000 $175,000 $4,906 7.13%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 6.88%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $145,000 $145,000 $7,015 7.50%
TERRE HAUTE, IN (FHA|USDA|VA) 2 $130,000 $65,000 $0 7.88%
Ml Mortgage Corp.'s top markets include Riverside, Los Angeles, Las Vegas, Phoenix, and Dallas among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

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

    Los Angeles Federal Credit Union
    Similarity Rank: 72
    MISSION
    Similarity Rank: 93
    LBS FINANCIAL
    Similarity Rank: 258
    TRAVIS CREDIT UNION
    Similarity Rank: 286
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 312
    CLARK COUNTY CREDIT UNION
    Similarity Rank: 330
    SOUTHLAND CREDIT UNION
    Similarity Rank: 342
    FIRST ENTERTAINMENT
    Similarity Rank: 351

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 311 $122,735,000 $394,646 $11,603 6.81%
    FHA 225 $92,105,000 $409,356 $18,760 6.68%
    VA 18 $10,390,000 $577,222 $15,480 6.51%

    For 2023, Ml Mortgage Corp.'s most frequently originated type of loan was Conventional, with 311 originations. Their 2nd most popular type was FHA, with 225 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 480 $200,670,000 $418,063 $15,146 6.74%
    Cash Out Refi 52 $17,470,000 $335,962 $13,708 6.85%
    Refi 22 $7,090,000 $322,273 $11,302 6.68%

    For 2023, Ml Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 480 originations. The 2nd most popular reason was Cash Out Refi, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 535 $223,535,000 $417,822 $15,326 6.88%
    3 Year 10 $150,000 $15,000 $520 0.00%
    10 Year 4 $60,000 $15,000 $63 9.25%
    15 Year 4 $1,480,000 $370,000 $9,355 5.72%
    5 Year 1 $5,000 $5,000 $0 0.00%

    For 2023, Ml Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 535 originations. The 2nd most popular length was 3 Year, with 10 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 372 $167,990,000 $451,586
    $4k-5k 37 $12,455,000 $336,622
    $3k-4k 34 $10,510,000 $309,118
    $<1k 33 $8,445,000 $255,909
    $1k-2k 25 $9,495,000 $379,800
    $2k-3k 17 $6,135,000 $360,882

    Ml Mortgage Corp.'s average total fees were $15,326, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 372 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 245 $106,755,000 $435,735
    7-8% 223 $90,415,000 $405,448
    5-6% 56 $23,280,000 $415,714
    Over 8% 17 $4,035,000 $237,353
    <2.5% 12 $170,000 $14,167
    4-5% 1 $575,000 $575,000

    During 2023, Ml Mortgage Corp.'s average interest rate for loans was 6.88%, while their most frequently originated rate bucket for loans was 6-7%, with 245 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 240 $75,910,000 $316,292 $13,255 6.90%
    $400k-600k 158 $76,130,000 $481,835 $16,906 6.81%
    $600k-1MM 80 $57,090,000 $713,625 $22,052 6.87%
    $100k-200k 52 $8,160,000 $156,923 $6,706 6.96%
    $100,000 or less 20 $460,000 $23,000 $572 3.43%
    $1MM+ 4 $7,480,000 $1,870,000 $29,971 7.00%

    2023 saw Ml Mortgage Corp. place emphasis on $200k-400k loans with 240 originations, totaling $75,910,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 178 $74,790,000 $420,169 $15,903 6.73%
    $150k-250k 113 $58,995,000 $522,080 $17,392 7.01%
    $75k-100k 112 $35,780,000 $319,464 $13,294 6.59%
    $50k-75k 88 $23,630,000 $268,523 $12,101 6.53%
    $250k+ 39 $27,575,000 $707,051 $18,566 7.25%
    $50k or less 22 $3,540,000 $160,909 $7,431 6.45%

    Ml Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 178 originations. The second most popular income band? $150k-250k, with 113 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 144 $61,890,000 $429,792 $18,312 6.71%
    49% 57 $24,585,000 $431,316 $15,036 6.98%
    30-36% 45 $19,635,000 $436,333 $13,741 6.99%
    47% 33 $12,395,000 $375,606 $13,300 6.93%
    44% 32 $12,600,000 $393,750 $13,038 6.87%
    45% 30 $13,200,000 $440,000 $15,767 6.48%
    20-30% 29 $7,695,000 $265,345 $8,885 6.50%
    48% 29 $10,775,000 $371,552 $13,281 6.54%
    43% 28 $9,720,000 $347,143 $12,597 6.32%
    46% 27 $11,995,000 $444,259 $16,693 7.23%
    38% 20 $7,980,000 $399,000 $12,225 6.59%
    42% 16 $6,380,000 $398,750 $12,427 6.28%
    41% 14 $6,000,000 $428,571 $11,702 6.55%
    39% 12 $5,300,000 $441,667 $13,241 7.26%
    40% 11 $3,705,000 $336,818 $12,766 6.69%
    36% 9 $3,715,000 $412,778 $14,690 6.88%
    <20% 8 $1,400,000 $175,000 $6,781 6.88%
    37% 8 $5,340,000 $667,500 $19,296 6.78%

    Ml Mortgage Corp. lent most frequently to those with DTI ratios of 50-60%, with 144 originations. The next most common DTI ratio? 49%, with 57 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 384 $151,090,000 $393,464 $14,768 6.79%
    Not provided 71 $31,685,000 $446,268 $16,314 6.81%
    Asian 54 $25,930,000 $480,185 $13,780 6.75%
    Black 38 $14,320,000 $376,842 $15,197 6.42%
    Native Hawaiian or Islander 5 $1,575,000 $315,000 $8,700 5.48%
    American Indian 2 $630,000 $315,000 $15,156 6.06%

    Approval Rates

    Total approvals of all applications
    91.33%

    Ml Mortgage Corp. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.14%

    Ml Mortgage Corp. has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 554 $225,230,000 $406,552

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    554 $225,230,000 $406,552

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $5,175,000 $225,000 $7,805 6.80%
    40-60% 30 $9,470,000 $315,667 $10,344 6.82%
    60-80% 131 $54,835,000 $418,588 $14,204 7.02%
    80-100% 350 $154,330,000 $440,943 $16,465 6.83%
    Over 100% 1 $615,000 $615,000 $35,323 6.75%
    Under 20% 19 $805,000 $42,368 $824 3.13%