Ml Mortgage Corp. Rates, Fees & Info

Rancho Cucamonga, CA

LEI: 254900JH11ROOV921P96

Tax ID: 20-8922230

1 stars - Updated: 3/3/24 - out of 5 stars, based on 28 reviews

Latest/2022 | 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 and Cash Out Refi 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 Seattle 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 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.

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% 3/3/24
30 Year Conventional Refi 6.72% 3/3/24
30 Year Cash-out Refi 6.90% 3/3/24
30 Year FHA Purchase 7.39% 3/3/24
30 Year FHA Refi 7.22% 3/3/24
30 Year VA Purchase 6.64% 3/3/24
30 Year VA Refi 6.27% 3/3/24
30 Year USDA Purchase 6.27% 3/3/24
15 Year Conventional Purchase 6.31% 3/3/24
15 Year Conventional Refi 6.24% 3/3/24
15 Year Cash-out Refi 6.24% 3/3/24
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

781

Origination Dollar Volume (All Markets)

$309,115,000

Awards

ML Mortgage Corp. 30 Year Conventional Loans bronze ML Mortgage Corp. VA Loans gold
Show all (2) awards

Relative Rate

Ml Mortgage Corp.'s average 30 year fixed mortgage rate was 5.02%.

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

This yields a difference of 0.26%.

Relative Fees (Closing Costs)

Ml Mortgage Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $12,054.

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
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 343 $144,955,000 $422,609 $12,794 4.91%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 92 $48,230,000 $524,239 $14,523 4.90%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 141 $46,695,000 $331,170 $9,353 5.05%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 108 $34,400,000 $318,519 $11,038 5.04%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 13 $5,665,000 $435,769 $13,246 4.68%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 11 $5,575,000 $506,818 $10,965 4.59%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 7 $2,655,000 $379,286 $11,745 6.04%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 7 $2,355,000 $336,429 $9,840 5.41%
VALLEJO, CA (FHA|USDA|VA) 4 $2,350,000 $587,500 $11,234 4.66%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 11 $1,815,000 $165,000 $5,168 5.68%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 2 $1,280,000 $640,000 $9,920 3.69%
Pahrump, NV (FHA|USDA|VA) 4 $1,120,000 $280,000 $7,629 5.00%
BAKERSFIELD, CA (FHA|USDA|VA) 4 $1,100,000 $275,000 $9,530 4.78%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 2 $1,040,000 $520,000 $14,578 4.75%
MODESTO, CA (FHA|USDA|VA) 2 $910,000 $455,000 $22,052 5.75%
PORT ST. LUCIE, FL (FHA|USDA|VA) 3 $875,000 $291,667 $13,793 5.25%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $835,000 $278,333 $18,130 5.33%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 2 $740,000 $370,000 $13,086 4.75%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $725,000 $725,000 $5,973 5.13%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $545,000 $545,000 $19,311 5.50%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $530,000 $265,000 $10,213 5.75%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $465,000 $465,000 $30,951 2.88%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $445,000 $445,000 $14,109 5.63%
YUBA CITY, CA (FHA|USDA|VA) 1 $405,000 $405,000 $17,582 4.38%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $405,000 $405,000 $11,622 7.38%
STOCKTON, CA (FHA|USDA|VA) 1 $355,000 $355,000 $7,165 4.25%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $355,000 $355,000 $10,518 5.50%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $305,000 $305,000 $12,067 4.88%
Sweetwater, TX (FHA|USDA|VA) 1 $305,000 $305,000 $5,803 4.00%
Kerrville, TX (FHA|USDA|VA) 1 $295,000 $295,000 $15,726 4.63%
RENO, NV (FHA|USDA|VA) 1 $285,000 $285,000 $6,745 6.88%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $275,000 $275,000 $13,460 6.88%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 2 $210,000 $105,000 $4,749 5.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $195,000 $195,000 $3,154 4.75%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $125,000 $125,000 $7,194 4.38%
EL PASO, TX (FHA|USDA|VA) 1 $115,000 $115,000 $5,115 3.50%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $105,000 $105,000 $3,839 6.00%
TERRE HAUTE, IN (FHA|USDA|VA) 1 $75,000 $75,000 $4,691 6.13%
Ml Mortgage Corp.'s top markets include Riverside, Los Angeles, Las Vegas, Phoenix, and Seattle among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Texas (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.

    First Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 519 $201,365,000 $387,987 $9,454 5.01%
    FHA 236 $95,120,000 $403,051 $16,704 4.93%
    VA 26 $12,630,000 $485,769 $16,964 4.57%

    For 2022, Ml Mortgage Corp.'s most frequently originated type of loan was Conventional, with 519 originations. Their 2nd most popular type was FHA, with 236 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 496 $209,800,000 $422,984 $12,611 5.20%
    Cash Out Refi 205 $72,585,000 $354,073 $11,635 4.68%
    Refi 80 $26,730,000 $334,125 $8,117 4.35%

    For 2022, Ml Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 496 originations. The 2nd most popular reason was Cash Out Refi, with 205 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 760 $304,220,000 $400,289 $12,054 5.02%
    20 Year 11 $2,425,000 $220,455 $6,898 3.51%
    15 Year 9 $2,465,000 $273,889 $5,896 3.42%
    3 Year 1 $5,000 $5,000 $0 0.00%

    For 2022, Ml Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 760 originations. The 2nd most popular length was 20 Year, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 465 $194,725,000 $418,763
    $1k-2k 96 $39,330,000 $409,688
    $3k-4k 75 $25,965,000 $346,200
    $4k-5k 61 $20,535,000 $336,639
    $2k-3k 60 $18,900,000 $315,000
    $<1k 24 $9,660,000 $402,500

    Ml Mortgage Corp.'s average total fees were $12,054, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 465 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 224 $89,180,000 $398,125
    5-6% 216 $89,060,000 $412,315
    3-4% 184 $68,550,000 $372,554
    6-7% 100 $40,400,000 $404,000
    7-8% 40 $15,580,000 $389,500
    2.5-3% 14 $6,050,000 $432,143
    <2.5% 2 $280,000 $140,000
    Over 8% 1 $15,000 $15,000

    During 2022, Ml Mortgage Corp.'s average interest rate for loans was 5.02%, while their most frequently originated rate bucket for loans was 4-5%, with 224 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 340 $106,150,000 $312,206 $10,639 4.94%
    $400k-600k 273 $130,145,000 $476,722 $13,782 5.02%
    $600k-1MM 88 $59,710,000 $678,523 $16,200 5.10%
    $100k-200k 72 $11,490,000 $159,583 $6,278 4.86%
    $100,000 or less 7 $435,000 $62,143 $3,103 4.57%
    $1MM+ 1 $1,185,000 $1,185,000 $10,658 3.13%

    2022 saw Ml Mortgage Corp. place emphasis on $200k-400k loans with 340 originations, totaling $106,150,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 216 $101,420,000 $469,537 $13,774 4.97%
    $50k-75k 172 $52,600,000 $305,814 $10,454 4.66%
    $75k-100k 155 $57,355,000 $370,032 $12,013 5.00%
    $150k-250k 119 $59,665,000 $501,387 $13,785 5.38%
    $50k or less 74 $14,650,000 $197,973 $7,665 4.69%
    $250k+ 43 $22,495,000 $523,140 $9,848 5.62%

    Ml Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 216 originations. The second most popular income band? $50k-75k, with 172 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 583 $225,975,000 $387,607 $11,946 4.93%
    Asian 79 $34,665,000 $438,797 $9,771 5.13%
    Black 65 $25,705,000 $395,462 $12,980 5.08%
    Not provided 52 $21,650,000 $416,346 $13,135 5.09%
    Native Hawaiian or Islander 1 $565,000 $565,000 $5,825 5.13%
    American Indian 1 $555,000 $555,000 $20,954 4.75%

    Approval Rates

    Total approvals of all applications
    97.48%

    Ml Mortgage 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
    56.85%

    Ml Mortgage 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 781 $309,115,000 $395,794

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    781 $309,115,000 $395,794