Ml Mortgage Corp. Rates, Fees & Info

Rancho Cucamonga, CA

LEI: 254900JH11ROOV921P96

Tax ID: 20-8922230

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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, Fresno, Truckee, and Sacramento among others. We have data for 8 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 an above 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% 3/28/24
30 Year Conventional Refi 6.72% 3/28/24
30 Year Cash-out Refi 6.90% 3/28/24
30 Year FHA Purchase 7.39% 3/28/24
30 Year FHA Refi 7.22% 3/28/24
30 Year VA Purchase 6.64% 3/28/24
30 Year VA Refi 6.27% 3/28/24
30 Year USDA Purchase 6.27% 3/28/24
15 Year Conventional Purchase 6.31% 3/28/24
15 Year Conventional Refi 6.24% 3/28/24
15 Year Cash-out Refi 6.24% 3/28/24
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

294

Origination Dollar Volume (All Markets)

$95,320,000

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) 223 $66,135,000 $296,570 $9,368 5.12%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 64 $27,340,000 $427,188 $10,076 5.04%
FRESNO, CA (FHA|USDA|VA) 2 $450,000 $225,000 $4,177 5.44%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $375,000 $375,000 $4,328 4.99%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $305,000 $305,000 $9,311 4.50%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $295,000 $295,000 $14,246 5.63%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $275,000 $275,000 $6,120 5.38%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $145,000 $145,000 $4,065 5.63%
Ml Mortgage Corp.'s top markets include Riverside, Los Angeles, Fresno, Truckee, and Sacramento among others.

Their top states include:
  • California (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.

    The Neffs National Bank
    Similarity Rank: 30
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 158 $51,610,000 $326,646 $7,618 5.19%
    FHA 129 $40,865,000 $316,783 $11,592 5.01%
    VA 7 $2,845,000 $406,429 $11,617 4.96%

    For 2018, Ml Mortgage Corp.'s most frequently originated type of loan was Conventional, with 158 originations. Their 2nd most popular type was FHA, with 129 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 192 $63,760,000 $332,083 $9,767 5.15%
    Cash Out Refi 69 $20,915,000 $303,116 $9,068 5.06%
    Refi 33 $10,645,000 $322,576 $8,465 4.92%

    For 2018, Ml Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 192 originations. The 2nd most popular reason was Cash Out Refi, with 69 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 288 $93,830,000 $325,799 $9,505 5.12%
    15 Year 3 $815,000 $271,667 $7,271 4.29%
    20 Year 2 $330,000 $165,000 $5,810 4.94%
    Other 1 $345,000 $345,000 $9,319 4.63%

    For 2018, Ml Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 288 originations. The 2nd most popular length was 15 Year, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 101 $34,655,000 $343,119
    $5k+ 82 $31,040,000 $378,537
    $3k-4k 41 $9,915,000 $241,829
    $4k-5k 40 $11,050,000 $276,250
    $2k-3k 20 $5,410,000 $270,500
    $<1k 10 $3,250,000 $325,000

    Ml Mortgage Corp.'s average total fees were $9,505, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 101 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 147 $46,895,000 $319,014
    4-5% 139 $46,375,000 $333,633
    3-4% 3 $1,045,000 $348,333
    6-7% 2 $140,000 $70,000
    Over 8% 2 $690,000 $345,000
    7-8% 1 $175,000 $175,000

    During 2018, Ml Mortgage Corp.'s average interest rate for loans was 5.12%, while their most frequently originated rate bucket for loans was 5-6%, with 147 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 171 $50,105,000 $293,012 $9,419 5.05%
    $400k-600k 66 $30,390,000 $460,455 $10,923 5.13%
    $100k-200k 41 $6,515,000 $158,902 $7,056 5.30%
    $600k-1MM 12 $8,080,000 $673,333 $12,196 4.81%
    $100,000 or less 4 $230,000 $57,500 $3,272 5.97%

    2018 saw Ml Mortgage Corp. place emphasis on $200k-400k loans with 171 originations, totaling $50,105,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 82 $21,420,000 $261,220 $8,915 5.03%
    $75k-100k 77 $25,625,000 $332,792 $10,021 5.13%
    $100k-150k 67 $25,315,000 $377,836 $9,792 5.19%
    $50k or less 32 $6,700,000 $209,375 $7,913 5.02%
    $150k-250k 29 $14,065,000 $485,000 $9,449 5.13%
    $250k+ 7 $2,195,000 $313,571 $13,473 5.29%

    Ml Mortgage Corp. lent most frequently to those with incomes in the $50k-75k range, with 82 originations. The second most popular income band? $75k-100k, with 77 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    40% 1 $245,000 $245,000 $8,991 5.00%

    Ml Mortgage Corp. lent most frequently to those with DTI ratios of 40%, with 1 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 181 $57,765,000 $319,144 $9,473 5.12%
    Not provided 78 $25,680,000 $329,231 $9,409 5.05%
    Asian 16 $6,650,000 $415,625 $9,377 5.08%
    Black 17 $4,365,000 $256,765 $9,562 5.21%
    Native Hawaiian or Islander 1 $495,000 $495,000 $6,008 5.13%
    Asian Indian 1 $365,000 $365,000 $13,069 5.25%

    Approval Rates

    Total approvals of all applications
    100.00%

    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
    92.18%

    Ml Mortgage Corp. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 294 $95,320,000 $324,218

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 4 $960,000 $240,000
    Single Family (1-4 Units):Site-Built 290 $94,360,000 $325,379

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    80-100% 1 $245,000 $245,000 $8,991 5.00%