Ml Mortgage Corp. Rates, Fees & Info
Rancho Cucamonga, CALEI: 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.00% | 11/17/24 |
| 30 Year Conventional Refi | 6.72% | 11/17/24 |
| 30 Year Cash-out Refi | 6.90% | 11/17/24 |
| 30 Year FHA Purchase | 7.39% | 11/17/24 |
| 30 Year FHA Refi | 7.22% | 11/17/24 |
| 30 Year VA Purchase | 6.64% | 11/17/24 |
| 30 Year VA Refi | 6.27% | 11/17/24 |
| 30 Year USDA Purchase | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 6.31% | 11/17/24 |
| 15 Year Conventional Refi | 6.24% | 11/17/24 |
| 15 Year Cash-out Refi | 6.24% | 11/17/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
294Origination Dollar Volume (All Markets)
$95,320,000Top 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% |
Their top states include:
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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.
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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
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
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
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
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
2018 saw Ml Mortgage Corp. place emphasis on $200k-400k loans with 171 originations, totaling $50,105,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications100.00%
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 origination92.18%
Ml Mortgage Corp. has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 294 | $95,320,000 | $324,218 |