My Move Mortgage Rates, Fees & Info

Salt Lake City, UT

LEI: 54930016ZSB1QWXLRJ13

Tax ID: 81-4978092

5 stars - out of 5 stars, based on 49 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

My Move Mortgage is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. My Move Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Salt Lake City, Provo, Ogden, St. George, and Heber among others. My Move Mortgage has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. My Move Mortgage is typically an average fee lendor.


Originations

2,354

Origination Dollar Volume (All Markets)

$835,430,000

Awards

MY MOVE MORTGAGE  30 Year Conventional Loans silver MY MOVE MORTGAGE  30 Year Conventional Loans gold MY MOVE MORTGAGE  30 Year Conventional Loans bronze MY MOVE MORTGAGE  USDA Loans silver
Show all (4) awards

Relative Rate

My Move Mortgage 's average 30 year fixed rate mortgage of loans were 3.06%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.09%.

Relative Fees

My Move Mortgage 's average total fees for a 30 year fixed rate mortgage are $4,545.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
SALT LAKE CITY, UT (FHA|USDA|VA) 1,090 $390,300,000 $358,073 $4,511 3.02%
PROVO-OREM, UT (FHA|USDA|VA) 631 $223,925,000 $354,873 $4,233 3.04%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 412 $141,660,000 $343,835 $4,558 2.95%
ST. GEORGE, UT (FHA|USDA|VA) 96 $34,780,000 $362,292 $4,434 3.12%
Heber, UT (FHA|USDA|VA) 40 $17,560,000 $439,000 $4,280 2.93%
LOGAN, UT-ID (FHA|USDA|VA) 28 $7,970,000 $284,643 $3,268 3.05%
Outside of Metro Areas 14 $3,810,000 $272,143 $3,913 3.02%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 5 $3,685,000 $737,000 $5,677 2.95%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 10 $2,870,000 $287,000 $3,505 3.10%
BOISE CITY, ID (FHA|USDA|VA) 7 $2,395,000 $342,143 $3,845 2.71%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $705,000 $705,000 $3,270 3.00%
Price, UT (FHA|USDA|VA) 2 $570,000 $285,000 $5,475 2.87%
Rexburg, ID (FHA|USDA|VA) 2 $530,000 $265,000 $4,808 2.87%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $530,000 $265,000 $4,310 3.00%
Cedar City, UT (FHA|USDA|VA) 1 $505,000 $505,000 $8,102 2.50%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $425,000 $425,000 $2,493 2.88%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $420,000 $210,000 $3,988 2.94%
FORT COLLINS, CO (FHA|USDA|VA) 1 $395,000 $395,000 $3,304 3.37%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $365,000 $365,000 $4,758 3.00%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $365,000 $365,000 $11,371 3.38%
Vernal, UT (FHA|USDA|VA) 1 $355,000 $355,000 $3,148 2.75%
Blackfoot, ID (FHA|USDA|VA) 1 $305,000 $305,000 $3,620 3.38%
Evanston, WY (FHA|USDA|VA) 1 $275,000 $275,000 $5,599 2.75%
Burley, ID (FHA|USDA|VA) 1 $235,000 $235,000 $4,553 2.75%
TWIN FALLS, ID (FHA|USDA|VA) 1 $205,000 $205,000 $3,377 2.88%
TUCSON, AZ (FHA|USDA|VA) 1 $165,000 $165,000 $2,522 3.13%
LONGVIEW, TX (FHA|USDA|VA) 1 $125,000 $125,000 $3,436 3.25%

My Move Mortgage 's top markets include Salt Lake City, Provo, Ogden, St. George, and Heber among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,106 $741,410,000 $352,047 $3,798 3.04%
FHA 160 $58,090,000 $363,063 $10,547 2.83%
VA 74 $30,920,000 $417,838 $8,277 2.60%
USDA 14 $5,010,000 $357,857 $6,802 2.62%

For the 2021 period, My Move Mortgage 's most frequently originated loan type of loans were Conventional, with 2,106 originations. Their 2nd most popular type is FHA, with 160 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,296 $496,930,000 $383,434 $5,066 3.06%
Refi 538 $162,100,000 $301,301 $3,250 2.84%
Cash Out Refi 515 $175,205,000 $340,204 $4,005 3.09%
Home Improvement 5 $1,195,000 $239,000 $4,031 3.05%

For the 2021, My Move Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 1,296 originations. The 2nd most popular reason of loans were Refi, with 538 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 2,140 $779,840,000 $364,411 $4,545 3.06%
15 Year 140 $34,450,000 $246,071 $3,102 2.41%
20 Year 54 $16,370,000 $303,148 $3,209 2.87%
10 Year 12 $2,650,000 $220,833 $2,951 2.32%
Other 8 $2,120,000 $265,000 $3,018 2.92%

For the 2021, My Move Mortgage 's most frequently cited loan length of loans were 30 Year, with 2,140 originations. The 2nd most popular length of loans were 15 Year, with 140 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,249 $437,625,000 $350,380
$1k-2k 459 $141,715,000 $308,747
$2k-3k 291 $105,355,000 $362,045
$3k-4k 240 $94,440,000 $393,500
$5k+ 115 $56,295,000 $489,522

$4,545 of loans were My Move Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,249 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 1,226 $440,490,000 $359,290
3-4% 812 $308,470,000 $379,889
<2.5% 251 $78,335,000 $312,092
4-5% 48 $7,770,000 $161,875
5-6% 17 $365,000 $21,471

During 2021, My Move Mortgage 's average interest rate of loans were 3.06%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,226 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,224 $374,750,000 $306,168 $4,179 2.98%
$400k-600k 733 $348,795,000 $475,846 $5,223 3.00%
$100k-200k 233 $38,305,000 $164,399 $2,825 2.88%
$600k-1MM 92 $62,170,000 $675,761 $7,020 3.07%
$100,000 or less 65 $2,745,000 $42,231 $861 4.21%
$1MM+ 7 $8,665,000 $1,237,857 $13,449 3.09%

2021 saw My Move Mortgage place emphasis on $200k-400k loans with 1,224 originations, totaling $374,750,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 608 $239,760,000 $394,342 $4,608 3.02%
$50k-75k 579 $168,435,000 $290,907 $4,247 3.01%
$75k-100k 532 $187,050,000 $351,598 $4,645 3.04%
$150k-250k 333 $140,725,000 $422,598 $4,182 2.99%
$50k or less 165 $36,645,000 $222,091 $3,629 2.91%
$250k+ 113 $56,115,000 $496,593 $5,303 3.13%

My Move Mortgage lent most frequently to those with incomes in the $100k-150k range, with 608 originations. The second most popular income band? $50k-75k, with 579 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 577 $197,375,000 $342,071 $3,840 2.96%
30-36% 410 $144,890,000 $353,390 $4,179 2.99%
<20% 183 $57,735,000 $315,492 $3,642 2.90%
39% 102 $38,220,000 $374,706 $4,551 3.04%
41% 101 $36,465,000 $361,040 $4,466 3.02%
44% 97 $35,975,000 $370,876 $4,839 3.12%
38% 96 $34,490,000 $359,271 $4,149 3.09%
43% 90 $34,080,000 $378,667 $4,551 3.07%
37% 84 $30,880,000 $367,619 $4,087 3.06%
36% 84 $30,510,000 $363,214 $4,654 3.00%
42% 82 $32,470,000 $395,976 $4,357 3.10%
40% 82 $31,560,000 $384,878 $4,817 3.02%
49% 68 $23,530,000 $346,029 $5,335 3.13%
45% 60 $22,750,000 $379,167 $4,902 3.09%
48% 59 $21,365,000 $362,119 $5,285 3.13%
46% 57 $20,825,000 $365,351 $5,165 3.11%
50-60% 57 $20,855,000 $365,877 $10,167 3.07%
47% 51 $17,815,000 $349,314 $4,406 3.04%
>60% 11 $2,985,000 $271,364 $3,966 2.80%

My Move Mortgage lent most frequently to those with DTI ratios of 20-30%, with 577 originations. The next most common DTI ratio? 30-36%, with 410 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 2,032 $717,740,000 $353,219 $4,398 3.01%
Not provided 143 $53,295,000 $372,692 $4,714 3.05%
Asian 135 $47,515,000 $351,963 $3,875 2.97%
Native Hawaiian 15 $6,425,000 $428,333 $6,911 3.03%
Black 16 $5,910,000 $369,375 $5,841 3.09%
American Indian 13 $4,545,000 $349,615 $4,915 3.13%

Approval Rates

Total approvals of all applications
99.12%

My Move Mortgage 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
84.15%

My Move Mortgage has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 2,354 $835,430,000 $354,898

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,354 $835,430,000 $354,898

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 127 $25,715,000 $202,480 $2,817 2.73%
40-60% 423 $128,605,000 $304,031 $3,484 2.83%
60-80% 908 $339,830,000 $374,262 $4,039 3.09%
80-100% 822 $331,080,000 $402,774 $5,600 2.98%
Over 100% 15 $6,735,000 $449,000 $16,090 2.63%
Under 20% 59 $3,465,000 $58,729 $853 4.33%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
MANN FINANCIAL INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 50.0%
MANN FINANCIAL INC. Conventional home mortgage Trouble during payment process 2 50.0%