Member One Mortgage Rates, Fees & Info
Roanoke, VALEI: 5493001VM8PTR1KD2A32
Tax ID: 54-0526784
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Mortgage Data
Review & Overview
Member One is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Member One has a high proportion of conventional loans. Their top markets by origination volume include: Roanoke, Lynchburg, Atlanta, Blacksburg, and Martinsville among others. We have data for 21 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 an 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 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/21/24 |
| 30 Year Conventional Purchase | 6.30% | 4/21/24 |
| 30 Year Conventional Refi | 6.25% | 4/21/24 |
| 30 Year Cash-out Refi | 6.44% | 4/21/24 |
| 15 Year Conventional Purchase | 5.85% | 4/21/24 |
| 15 Year Conventional Refi | 5.95% | 4/21/24 |
| 15 Year Cash-out Refi | 5.95% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,030Origination Dollar Volume (All Markets)
$129,790,000Awards
MEMBER ONE - 2021
MEMBER ONE is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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) | 573 | $62,175,000 | $108,508 | $1,638 | 3.52% |
| Outside of Metro Areas | 162 | $31,400,000 | $193,827 | $4,085 | 3.45% |
| LYNCHBURG, VA (FHA|USDA|VA) | 136 | $13,340,000 | $98,088 | $919 | 3.52% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 19 | $9,975,000 | $525,000 | $6,777 | 2.87% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 76 | $7,290,000 | $95,921 | $1,279 | 3.36% |
| Martinsville, VA (FHA|USDA|VA) | 30 | $1,890,000 | $63,000 | $5,961 | 4.08% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $2,656 | 2.63% |
| Danville, VA (FHA|USDA|VA) | 12 | $560,000 | $46,667 | $0 | 4.25% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $0 | 4.50% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $1,246 | 3.58% |
| Calhoun, GA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $6,713 | 2.88% |
| STAUNTON, VA (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $2,504 | 3.69% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $0 | 3.44% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $175,000 | $58,333 | $0 | 4.00% |
| RICHMOND, VA (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 3.37% |
| Vidalia, GA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,946 | 3.50% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 3.99% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 4.00% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 2.99% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 5.49% |
| Washington, NC (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 3.75% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 785 | $107,895,000 | $137,446 | $2,110 | 3.61% |
| HELOC | 245 | $21,895,000 | $89,367 | n/a | 3.19% |
For 2021, Member One's most frequently originated type of loan was Conventional, with 785 originations. Their 2nd most popular type was HELOC, with 245 originations.
Loan Reason
For 2021, Member One's most frequently cited loan purpose was Home Improvement, with 295 originations. The 2nd most popular reason was Refi, with 237 originations.
Loan Duration/Length
For 2021, Member One's most frequently cited loan duration was 15 Year, with 596 originations. The 2nd most popular length was 30 Year, with 249 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 612 | $82,690,000 | $135,114 |
| $1k-2k | 42 | $9,540,000 | $227,143 |
| $4k-5k | 1 | $575,000 | $575,000 |
Member One's average total fees were $4,550, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 612 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 577 | $57,065,000 | $98,899 |
| 2.5-3% | 336 | $60,050,000 | $178,720 |
| 4-5% | 92 | $9,870,000 | $107,283 |
| <2.5% | 13 | $2,045,000 | $157,308 |
| 5-6% | 12 | $760,000 | $63,333 |
During 2021, Member One's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 3-4%, with 577 originations.
Loan Sizing
2021 saw Member One place emphasis on $100,000 or less loans with 567 originations, totaling $29,005,000 in origination value.
Applicant Income
Member One lent most frequently to those with incomes in the $100k-150k range, with 215 originations. The second most popular income band? $50k-75k, with 205 originations.
Applicant Debt to Income Ratio
Member One lent most frequently to those with DTI ratios of 20-30%, with 271 originations. The next most common DTI ratio? 30-36%, with 197 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications52.39%
Member One has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination93.50%
Member One has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,030 | $129,790,000 | $126,010 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEMBER FIRST MORTGAGE, LLC | Conventional home mortgage | Closing on a mortgage | 1 | 33.3% |
| MEMBER FIRST MORTGAGE, LLC | Conventional home mortgage | Incorrect information on your report | 1 | 33.3% |
| MEMBER FIRST MORTGAGE, LLC | Conventional home mortgage | Trouble during payment process | 1 | 33.3% |