Ml Mortgage Corp. Rates, Fees & Info

Rancho Cucamonga, CA

LEI: 254900JH11ROOV921P96

Tax ID: 20-8922230

2.3 stars - out of 5 stars, based on 39 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Ml Mortgage Corp. is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Ml Mortgage Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Riverside, Los Angeles, Las Vegas, San Diego, and Phoenix among others. We have data for 48 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 7.09% 11/26/22
    30 Year Conventional Refi 6.79% 11/26/22
    30 Year Cash-out Refi 7.01% 11/26/22
    30 Year FHA Purchase 7.86% 11/26/22
    30 Year FHA Refi 7.37% 11/26/22
    30 Year VA Purchase 6.91% 11/26/22
    30 Year VA Refi 6.33% 11/26/22
    15 Year Conventional Purchase 6.27% 11/26/22
    15 Year Conventional Refi 6.24% 11/26/22
    15 Year Cash-out Refi 6.24% 11/26/22
    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.


    Originations

    1,557

    Origination Dollar Volume (All Markets)

    $562,315,000

    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 3.12%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.03%.

    Relative Fees (Closing Costs)

    Ml Mortgage Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $7,497.

    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) 770 $279,590,000 $363,104 $7,573 3.05%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 271 $124,855,000 $460,720 $8,314 3.05%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 180 $49,620,000 $275,667 $6,151 3.19%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 68 $28,820,000 $423,824 $7,265 2.71%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 79 $21,385,000 $270,696 $6,341 3.32%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 30 $7,690,000 $256,333 $7,114 3.15%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 17 $6,085,000 $357,941 $8,088 3.35%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 14 $4,560,000 $325,714 $5,519 3.24%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 9 $4,295,000 $477,222 $8,991 2.92%
    VALLEJO, CA (FHA|USDA|VA) 8 $3,290,000 $411,250 $9,960 3.06%
    BAKERSFIELD, CA (FHA|USDA|VA) 12 $3,260,000 $271,667 $8,440 3.20%
    NAPA, CA (FHA|USDA|VA) 7 $2,955,000 $422,143 $7,857 2.88%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 4 $2,700,000 $675,000 $7,691 3.31%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 7 $2,545,000 $363,571 $7,209 3.07%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 18 $2,380,000 $132,222 $4,176 3.57%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 7 $2,195,000 $313,571 $5,733 3.75%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 4 $1,400,000 $350,000 $5,756 2.91%
    FRESNO, CA (FHA|USDA|VA) 4 $1,220,000 $305,000 $6,921 3.25%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 3 $955,000 $318,333 $8,776 3.46%
    STOCKTON, CA (FHA|USDA|VA) 4 $950,000 $237,500 $5,309 3.44%
    Outside of Metro Areas 4 $910,000 $227,500 $5,895 3.28%
    RENO, NV (FHA|USDA|VA) 2 $750,000 $375,000 $7,153 3.81%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 2 $740,000 $370,000 $10,635 3.81%
    Kerrville, TX (FHA|USDA|VA) 1 $685,000 $685,000 $9,021 3.13%
    EL CENTRO, CA (FHA|USDA|VA) 2 $610,000 $305,000 $3,527 2.69%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $560,000 $280,000 $3,763 3.19%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $560,000 $280,000 $7,504 2.88%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 2 $540,000 $270,000 $6,770 2.88%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $540,000 $270,000 $9,940 3.38%
    Gardnerville Ranchos, NV (FHA|USDA|VA) 1 $525,000 $525,000 $4,734 3.38%
    Nogales, AZ (FHA|USDA|VA) 2 $470,000 $235,000 $4,035 3.31%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $415,000 $415,000 $5,133 3.38%
    Centralia, WA (FHA|USDA|VA) 1 $385,000 $385,000 $4,545 2.75%
    PUEBLO, CO (FHA|USDA|VA) 1 $365,000 $365,000 $9,861 3.25%
    Eureka-Arcata, CA (FHA|USDA|VA) 1 $345,000 $345,000 $5,741 3.38%
    MODESTO, CA (FHA|USDA|VA) 2 $340,000 $170,000 $4,560 2.88%
    FLAGSTAFF, AZ (FHA|USDA|VA) 1 $315,000 $315,000 $4,139 2.75%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $315,000 $315,000 $9,136 2.88%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $315,000 $315,000 $5,439 2.50%
    Moses Lake, WA (FHA|USDA|VA) 1 $275,000 $275,000 $5,211 3.00%
    MADERA, CA (FHA|USDA|VA) 1 $255,000 $255,000 $6,892 3.13%
    Sonora, CA (FHA|USDA|VA) 1 $245,000 $245,000 $6,340 2.88%
    OCALA, FL (FHA|USDA|VA) 2 $240,000 $120,000 $3,989 3.44%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $225,000 $225,000 $3,247 2.50%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $165,000 $165,000 $5,712 2.50%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $165,000 $165,000 $7,863 3.75%
    ALBUQUERQUE, NM (FHA|USDA|VA) 1 $155,000 $155,000 $6,312 3.75%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $155,000 $155,000 $4,985 3.00%
    Ml Mortgage Corp.'s top markets include Riverside, Los Angeles, Las Vegas, San Diego, and Phoenix among others.

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

    1ST NORTHERN CALIFORNIA
    Similarity Rank: 276
    Christian Community Credit Union
    Similarity Rank: 354
    First Credit Union
    Similarity Rank: 378
    Credence Funding Corporation
    Similarity Rank: 404
    Penn Community Bank
    Similarity Rank: 462
    Unity Bank
    Similarity Rank: 486
    VISIONS
    Similarity Rank: 624
    ALOHA PACIFIC
    Similarity Rank: 670
    ESSA Bank & Trust
    Similarity Rank: 756

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,170 $413,660,000 $353,556 $6,101 3.13%
    FHA 305 $111,825,000 $366,639 $11,871 3.02%
    VA 80 $36,290,000 $453,625 $8,803 2.80%
    FHA 2 $540,000 $270,000 $0 2.80%

    For 2021, Ml Mortgage Corp.'s most frequently originated type of loan was Conventional, with 1,170 originations. Their 2nd most popular type was FHA, with 305 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 634 $245,890,000 $387,839 $8,605 3.15%
    Refi 518 $180,010,000 $347,510 $6,184 2.91%
    Cash Out Refi 403 $135,755,000 $336,861 $6,946 3.23%
    Home Improvement 1 $405,000 $405,000 $11,119 3.25%
    Other 1 $255,000 $255,000 $0 2.38%

    For 2021, Ml Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 634 originations. The 2nd most popular reason was Refi, with 518 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,459 $533,555,000 $365,699 $7,497 3.12%
    15 Year 63 $18,545,000 $294,365 $5,710 2.49%
    20 Year 23 $6,485,000 $281,957 $5,227 2.73%
    Other 9 $3,285,000 $365,000 $4,871 2.86%
    10 Year 3 $445,000 $148,333 $3,663 2.46%

    For 2021, Ml Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 1,459 originations. The 2nd most popular length was 15 Year, with 63 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 529 $193,145,000 $365,113
    $5k+ 297 $123,935,000 $417,290
    $2k-3k 243 $74,385,000 $306,111
    $3k-4k 207 $70,475,000 $340,459
    $<1k 148 $55,010,000 $371,689
    $4k-5k 131 $44,825,000 $342,176

    Ml Mortgage Corp.'s average total fees were $7,497, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 529 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 776 $281,880,000 $363,247
    2.5-3% 572 $210,210,000 $367,500
    <2.5% 170 $59,320,000 $348,941
    4-5% 37 $10,335,000 $279,324
    5-6% 1 $305,000 $305,000
    Over 8% 1 $265,000 $265,000

    During 2021, Ml Mortgage Corp.'s average interest rate for loans was 3.12%, while their most frequently originated rate bucket for loans was 3-4%, with 776 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 814 $245,010,000 $300,995 $6,900 3.10%
    $400k-600k 491 $236,765,000 $482,210 $8,211 3.04%
    $100k-200k 158 $24,790,000 $156,899 $4,962 3.20%
    $600k-1MM 70 $49,540,000 $707,714 $13,185 3.14%
    $100,000 or less 20 $1,170,000 $58,500 $2,881 2.41%
    $1MM+ 4 $5,040,000 $1,260,000 $15,946 3.03%

    2021 saw Ml Mortgage Corp. place emphasis on $200k-400k loans with 814 originations, totaling $245,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 373 $156,225,000 $418,834 $7,807 3.09%
    $50k-75k 373 $108,355,000 $290,496 $7,101 3.08%
    $75k-100k 348 $127,560,000 $366,552 $7,680 3.10%
    $150k-250k 174 $79,830,000 $458,793 $7,611 3.16%
    $50k or less 152 $31,160,000 $205,000 $5,939 3.14%
    $250k+ 64 $31,990,000 $499,844 $8,338 3.23%

    Ml Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 373 originations. The second most popular income band? $50k-75k, with 373 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 197 $69,475,000 $352,665 $6,666 3.05%
    20-30% 159 $50,965,000 $320,535 $6,071 3.01%
    50-60% 137 $53,965,000 $393,905 $11,978 3.06%
    44% 108 $39,470,000 $365,463 $6,937 3.12%
    <20% 94 $34,590,000 $367,979 $6,468 2.74%
    43% 94 $35,910,000 $382,021 $7,233 3.17%
    49% 93 $35,555,000 $382,312 $7,725 3.06%
    42% 73 $25,915,000 $355,000 $6,473 3.16%
    38% 71 $23,765,000 $334,718 $6,401 3.26%
    48% 69 $24,105,000 $349,348 $6,691 3.14%
    47% 68 $25,250,000 $371,324 $9,177 3.06%
    41% 67 $26,585,000 $396,791 $7,574 3.25%
    45% 65 $23,345,000 $359,154 $6,890 3.15%
    40% 56 $19,840,000 $354,286 $6,425 3.04%
    36% 51 $17,175,000 $336,765 $6,361 3.23%
    39% 51 $18,745,000 $367,549 $7,226 3.13%
    46% 49 $18,115,000 $369,694 $7,681 3.08%
    37% 44 $14,420,000 $327,727 $5,942 3.29%
    >60% 4 $2,750,000 $687,500 $22,640 3.00%

    Ml Mortgage Corp. lent most frequently to those with DTI ratios of 30-36%, with 197 originations. The next most common DTI ratio? 20-30%, with 159 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,203 $423,205,000 $351,791 $7,264 3.09%
    Asian 151 $64,565,000 $427,583 $6,992 3.03%
    Black 128 $46,100,000 $360,156 $8,777 3.07%
    Not provided 59 $22,335,000 $378,559 $7,487 3.15%
    American Indian 13 $5,095,000 $391,923 $7,721 2.92%
    Native Hawaiian or Islander 3 $1,015,000 $338,333 $5,555 3.17%

    Approval Rates

    Total approvals of all applications
    97.94%

    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
    68.53%

    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 1,557 $562,315,000 $361,153

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,557 $562,315,000 $361,153

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 72 $15,610,000 $216,806 $4,549 2.93%
    40-60% 236 $73,690,000 $312,246 $5,854 2.98%
    60-80% 632 $236,270,000 $373,845 $6,753 3.17%
    80-100% 594 $230,000,000 $387,205 $8,857 3.10%
    Over 100% 9 $4,695,000 $521,667 $19,724 3.19%
    Under 20% 9 $375,000 $41,667 $1,962 0.75%