E.m.i. Equity Mortgage Rates, Fees & Info
SAN JUAN,LEI: 54930050YUB4R3ZKAI03
Tax ID: 66-0427030
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Mortgage Data
Review & Overview
E.m.i. Equity Mortgage is a smaller mortgage company specializing in Refi and Home Purchase loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: San Juan, San GermÁn, Ponce, Aguadilla, and MayagÜez among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)E.m.i. Equity Mortgage has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. E.m.i. Equity Mortgage is typically an average 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 FHA Purchase | 10.62% | 12/3/24 |
| 30 Year FHA Refi | 11.57% | 12/3/24 |
| 30 Year VA Purchase | 8.76% | 12/3/24 |
| 30 Year USDA Purchase | 10.05% | 12/3/24 |
| 30 Year USDA Refi | 9.61% | 12/3/24 |
| 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. | ||
E.m.i. Equity Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
427Origination Dollar Volume (All Markets)
$53,695,000Awards
E.M.I. EQUITY MORTGAGE - 2020
E.M.I. EQUITY MORTGAGE is a 2020 , due to their low .
For 2020, 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 |
|---|---|---|---|---|---|
| SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) | 375 | $47,775,000 | $127,400 | $5,034 | 3.49% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 8 | $1,470,000 | $183,750 | $7,186 | 3.41% |
| PONCE, PR (FHA|USDA|VA) | 13 | $1,275,000 | $98,077 | $3,759 | 3.58% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 10 | $1,190,000 | $119,000 | $5,412 | 3.17% |
| MAYAGÜEZ, PR (FHA|USDA|VA) | 5 | $615,000 | $123,000 | $4,522 | 3.55% |
| Arecibo, PR (FHA|USDA|VA) | 7 | $575,000 | $82,143 | $4,042 | 3.32% |
| GUAYAMA, PR (FHA|USDA|VA) | 4 | $270,000 | $67,500 | $3,152 | 3.50% |
| YAUCO, PR (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $4,734 | 3.25% |
| Coamo, PR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,176 | 4.25% |
| Santa Isabel, PR (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,739 | 2.75% |
| Coco, PR (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,410 | 2.75% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against E.M.I. EQUITY MORTGAGE 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 |
|---|---|---|---|---|---|
| FHA | 358 | $44,570,000 | $124,497 | $4,953 | 3.49% |
| USDA | 56 | $6,390,000 | $114,107 | $4,417 | 3.43% |
| VA | 13 | $2,735,000 | $210,385 | $8,934 | 3.38% |
For 2020, E.m.i. Equity Mortgage's most frequently originated type of loan was FHA, with 358 originations. Their 2nd most popular type was USDA, with 56 originations.
Loan Reason
For 2020, E.m.i. Equity Mortgage's most frequently cited loan purpose was Refi, with 217 originations. The 2nd most popular reason was Home Purchase, with 201 originations.
Loan Duration/Length
For 2020, E.m.i. Equity Mortgage's most frequently cited loan duration was 30 Year, with 266 originations. The 2nd most popular length was Other, with 150 originations.
Origination Fees/Closing Costs
E.m.i. Equity Mortgage's average total fees were $5,357, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 302 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 325 | $41,035,000 | $126,262 |
| 2.5-3% | 72 | $9,440,000 | $131,111 |
| 4-5% | 29 | $2,825,000 | $97,414 |
| <2.5% | 1 | $395,000 | $395,000 |
During 2020, E.m.i. Equity Mortgage's average interest rate for loans was 3.40%, while their most frequently originated rate bucket for loans was 3-4%, with 325 originations.
Loan Sizing
2020 saw E.m.i. Equity Mortgage place emphasis on $100k-200k loans with 232 originations, totaling $29,870,000 in origination value.
Applicant Income
E.m.i. Equity Mortgage lent most frequently to those with incomes in the $50k or less range, with 342 originations. The second most popular income band? $50k-75k, with 49 originations.
Applicant Debt to Income Ratio
E.m.i. Equity Mortgage lent most frequently to those with DTI ratios of 20-30%, with 75 originations. The next most common DTI ratio? 30-36%, with 53 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.34%
E.m.i. Equity Mortgage has a below average approval rate.
Pick Rate
Approvals leading to origination83.84%
E.m.i. Equity Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 427 | $53,695,000 | $125,749 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 427 | $53,695,000 | $125,749 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| EMI Equity Mortgage, Inc. | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| EMI Equity Mortgage, Inc. | VA mortgage | Closing on a mortgage | 1 | 50.0% |