Member One Mortgage Rates, Fees & Info

Roanoke, VA

LEI: 5493001VM8PTR1KD2A32

Tax ID: 54-0526784

5 stars - Updated: 6/9/24 - out of 5 stars, based on 34 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Member One is a smaller mortgage company specializing in Home Purchase loans. Member One has a high proportion of conventional loans. Their top markets by origination volume include: Roanoke, Lynchburg, Atlanta, Blacksburg, and Danville among others. We have data for 31 markets. (Some data included below & more in-depth data is available with an active subscription.)

Member One has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Member One is typically a low 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 relatively high 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
Home Equity Line of Credit (HELOC) 6.27% 6/9/24
30 Year Conventional Purchase 6.30% 6/9/24
30 Year Conventional Refi 6.25% 6/9/24
30 Year Cash-out Refi 6.44% 6/9/24
15 Year Conventional Purchase 5.85% 6/9/24
15 Year Conventional Refi 5.95% 6/9/24
15 Year Cash-out Refi 5.95% 6/9/24
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.

Member One Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Member One. 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

1,174

Origination Dollar Volume (All Markets)

$137,060,000

Awards

MEMBER ONE 30 Year Conventional Loans gold MEMBER ONE 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

Member One's average 30 year fixed mortgage rate was 6.56%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.08%.

Relative Fees (Closing Costs)

Member One's average total fees/closing costs for a 30 year fixed rate mortgage were $4,009.

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 $9,089.

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
ROANOKE, VA (FHA|USDA|VA) 708 $75,440,000 $106,554 $763 6.07%
LYNCHBURG, VA (FHA|USDA|VA) 247 $23,595,000 $95,526 $298 6.10%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 30 $9,980,000 $332,667 $4,074 6.24%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 86 $9,640,000 $112,093 $871 6.13%
Danville, VA (FHA|USDA|VA) 20 $4,340,000 $217,000 $1,222 6.84%
Outside of Metro Areas 34 $3,910,000 $115,000 $390 6.05%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 6 $1,130,000 $188,333 $2,935 5.52%
RALEIGH-CARY, NC (FHA|USDA|VA) 3 $745,000 $248,333 $3,646 4.62%
GAINESVILLE, GA (FHA|USDA|VA) 2 $700,000 $350,000 $3,835 5.31%
Jefferson, GA (FHA|USDA|VA) 2 $670,000 $335,000 $5,162 6.19%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 2 $590,000 $295,000 $3,885 6.50%
WILMINGTON, NC (FHA|USDA|VA) 1 $555,000 $555,000 $0 7.50%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $475,000 $475,000 $2,460 6.50%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $460,000 $230,000 $0 4.99%
Calhoun, GA (FHA|USDA|VA) 2 $440,000 $220,000 $3,439 5.37%
Martinsville, VA (FHA|USDA|VA) 6 $420,000 $70,000 $1,523 5.89%
PITTSBURGH, PA (FHA|USDA|VA) 2 $400,000 $200,000 $2,482 5.37%
Sandusky, OH (FHA|USDA|VA) 1 $395,000 $395,000 $1,981 5.88%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $385,000 $385,000 $4,958 7.00%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 3 $375,000 $125,000 $0 5.66%
RICHMOND, VA (FHA|USDA|VA) 5 $375,000 $75,000 $0 4.99%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $335,000 $335,000 $3,975 5.38%
TOLEDO, OH (FHA|USDA|VA) 1 $335,000 $335,000 $5,259 6.38%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $305,000 $305,000 $3,609 5.75%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $305,000 $305,000 $0 8.00%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $245,000 $245,000 $5,152 7.14%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $205,000 $205,000 $1,787 6.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.99%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $115,000 $115,000 $0 4.99%
HARRISONBURG, VA (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.25%
ROME, GA (FHA|USDA|VA) 1 $15,000 $15,000 $0 7.75%
Member One's top markets include Roanoke, Lynchburg, Atlanta, Blacksburg, and Danville among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against MEMBER ONE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    CENTRAL VIRGINIA
    Similarity Rank: 40
    LGE COMMUNITY
    Similarity Rank: 546
    CNB Bank
    Similarity Rank: 616
    AMERICAN HOME MORTGAGE, INC.
    Similarity Rank: 900
    East West Bank
    Similarity Rank: 925
    FREEDOM FIRST
    Similarity Rank: 950
    SANCTUARY HOME MORTGAGE LLC
    Similarity Rank: 1076
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 1320

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 778 $97,960,000 $125,913 $879 6.61%
    HELOC 396 $39,100,000 $98,737 n/a 5.04%

    For 2023, Member One's most frequently originated type of loan was Conventional, with 778 originations. Their 2nd most popular type was HELOC, with 396 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 390 $24,490,000 $62,795 $0 5.65%
    Other 295 $18,055,000 $61,203 $0 6.12%
    Home Purchase 237 $55,625,000 $234,705 $3,526 6.37%
    Refi 181 $21,195,000 $117,099 $71 6.01%
    Cash Out Refi 71 $17,695,000 $249,225 $4,388 7.49%

    For 2023, Member One's most frequently cited loan purpose was Home Improvement, with 390 originations. The 2nd most popular reason was Other, with 295 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 631 $59,865,000 $94,873 $162 5.69%
    10 Year 185 $21,175,000 $114,459 $79 5.89%
    20 Year 159 $13,515,000 $85,000 $43 7.43%
    30 Year 136 $38,710,000 $284,632 $4,009 6.56%
    5 Year 58 $2,780,000 $47,931 $0 5.85%
    Other 3 $655,000 $218,333 $0 7.67%
    1 Year 2 $360,000 $180,000 $0 10.50%

    For 2023, Member One's most frequently cited loan duration was 15 Year, with 631 originations. The 2nd most popular length was 10 Year, with 185 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 600 $51,370,000 $85,617
    $1k-2k 59 $14,925,000 $252,966
    $2k-3k 7 $2,675,000 $382,143
    $3k-4k 3 $1,145,000 $381,667
    $5k+ 3 $2,255,000 $751,667
    $4k-5k 2 $1,260,000 $630,000

    Member One's average total fees were $4,009, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 600 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 405 $36,555,000 $90,259
    6-7% 302 $52,290,000 $173,146
    5-6% 226 $18,910,000 $83,673
    7-8% 192 $23,190,000 $120,781
    Over 8% 33 $3,725,000 $112,879
    2.5-3% 16 $2,390,000 $149,375

    During 2023, Member One's average interest rate for loans was 6.56%, while their most frequently originated rate bucket for loans was 4-5%, with 405 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 738 $36,060,000 $48,862 $84 5.95%
    $100k-200k 248 $34,290,000 $138,266 $1,296 6.36%
    $200k-400k 144 $39,570,000 $274,792 $3,331 6.23%
    $400k-600k 30 $14,060,000 $468,667 $4,995 6.45%
    $600k-1MM 11 $8,615,000 $783,182 $8,072 5.63%
    $1MM+ 3 $4,465,000 $1,488,333 $0 6.50%

    2023 saw Member One place emphasis on $100,000 or less loans with 738 originations, totaling $36,060,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 294 $33,800,000 $114,966 $1,056 5.96%
    $50k-75k 219 $15,845,000 $72,352 $584 6.05%
    $75k-100k 204 $17,570,000 $86,127 $643 6.08%
    $150k-250k 144 $21,100,000 $146,528 $1,172 5.79%
    $50k or less 138 $8,030,000 $58,188 $599 5.88%
    $250k+ 47 $13,775,000 $293,085 $3,122 5.75%

    Member One lent most frequently to those with incomes in the $100k-150k range, with 294 originations. The second most popular income band? $50k-75k, with 219 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 355 $35,785,000 $100,803 $788 5.81%
    30-36% 245 $25,725,000 $105,000 $952 6.11%
    <20% 172 $20,520,000 $119,302 $813 5.40%
    42% 58 $5,090,000 $87,759 $289 6.59%
    36% 40 $3,190,000 $79,750 $902 6.08%
    40% 34 $2,810,000 $82,647 $640 6.26%
    41% 33 $4,295,000 $130,152 $957 6.56%
    38% 32 $2,190,000 $68,438 $327 6.40%
    37% 30 $2,840,000 $94,667 $980 6.00%
    39% 29 $3,155,000 $108,793 $1,048 6.16%
    >60% 19 $1,735,000 $91,316 $1,503 5.76%
    43% 11 $2,215,000 $201,364 $4,021 6.21%
    44% 5 $665,000 $133,000 $2,209 6.15%
    45% 5 $945,000 $189,000 $2,344 6.75%
    46% 2 $90,000 $45,000 $0 6.25%
    47% 1 $465,000 $465,000 $4,575 7.13%
    50-60% 1 $115,000 $115,000 $0 4.99%

    Member One lent most frequently to those with DTI ratios of 20-30%, with 355 originations. The next most common DTI ratio? 30-36%, with 245 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 971 $101,575,000 $104,609 $881 5.94%
    Not applicable 101 $25,145,000 $248,960 $0 7.50%
    Black 65 $5,875,000 $90,385 $677 6.09%
    Not provided 23 $2,335,000 $101,522 $1,241 5.89%
    Asian 9 $1,735,000 $192,778 $1,609 6.02%
    American Indian 5 $395,000 $79,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    63.84%

    Member One has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    89.01%

    Member One has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,174 $137,060,000 $116,746

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,174 $137,060,000 $116,746

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 310 $26,970,000 $87,000 $108 5.96%
    40-60% 102 $17,040,000 $167,059 $1,030 6.19%
    60-80% 117 $27,715,000 $236,880 $3,197 6.81%
    80-100% 154 $42,180,000 $273,896 $3,656 6.59%
    Over 100% 6 $1,770,000 $295,000 $3,688 7.21%
    Under 20% 484 $21,250,000 $43,905 $0 5.78%