The Mortgage Warehouse Rates, Fees & Info
LOUISVILLE, KYLEI: 5493005G8JO0PPI0HN36
Tax ID: 02-0687335
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Mortgage Data
Review & Overview
The Mortgage Warehouse is a smaller mortgage company specializing in Refi and Cash Out Refi loans. The Mortgage Warehouse has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Louisville/jefferson County, Cape Coral, Naples, Lexington, and Elizabethtown among others. We have data for 31 markets. (Some data included below & more in-depth data is available with an active subscription.)The Mortgage Warehouse has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. The Mortgage Warehouse 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 3/19/23 |
| 30 Year Conventional Purchase | 6.48% | 3/19/23 |
| 30 Year Conventional Refi | 6.42% | 3/19/23 |
| 30 Year Cash-out Refi | 6.57% | 3/19/23 |
| 30 Year FHA Purchase | 7.38% | 3/19/23 |
| 30 Year FHA Refi | 6.67% | 3/19/23 |
| 30 Year VA Purchase | 6.28% | 3/19/23 |
| 30 Year VA Refi | 5.83% | 3/19/23 |
| 30 Year USDA Purchase | 6.79% | 3/19/23 |
| 15 Year Conventional Purchase | 5.93% | 3/19/23 |
| 15 Year Conventional Refi | 5.89% | 3/19/23 |
| 15 Year Cash-out Refi | 5.89% | 3/19/23 |
| 15 Year VA Refi | 5.66% | 3/19/23 |
| 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. | ||
Originations
1,182Origination Dollar Volume (All Markets)
$283,850,000Awards
THE MORTGAGE WAREHOUSE - 2021
THE MORTGAGE WAREHOUSE is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
The Mortgage Warehouse's average 30 year fixed mortgage rate was
3.03%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.12%.
Relative Fees (Closing Costs)
The Mortgage Warehouse's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,060.
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 $4,750.
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 |
|---|---|---|---|---|---|
| LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) | 720 | $164,890,000 | $229,014 | $2,715 | 2.81% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 270 | $68,400,000 | $253,333 | $3,304 | 3.03% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 70 | $22,560,000 | $322,286 | $3,455 | 2.97% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 19 | $4,035,000 | $212,368 | $3,440 | 2.61% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 16 | $3,740,000 | $233,750 | $2,771 | 2.80% |
| Bardstown, KY (FHA|USDA|VA) | 16 | $2,900,000 | $181,250 | $2,819 | 2.79% |
| Outside of Metro Areas | 11 | $2,305,000 | $209,545 | $2,917 | 3.05% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 6 | $1,880,000 | $313,333 | $3,617 | 2.88% |
| Frankfort, KY (FHA|USDA|VA) | 8 | $1,700,000 | $212,500 | $3,383 | 2.76% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 6 | $1,570,000 | $261,667 | $3,370 | 3.06% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $1,445,000 | $289,000 | $3,670 | 2.68% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 5 | $1,365,000 | $273,000 | $3,368 | 3.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 4 | $1,140,000 | $285,000 | $2,606 | 2.59% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $2,696 | 2.33% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $4,150 | 2.81% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $3,342 | 3.19% |
| Clewiston, FL (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $4,306 | 3.19% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $2,488 | 2.50% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $4,229 | 2.94% |
| Danville, KY (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $3,059 | 2.81% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,697 | 2.25% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,648 | 2.88% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,453 | 2.75% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,430 | 2.88% |
| OWENSBORO, KY (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,151 | 2.50% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,449 | 3.50% |
| Scottsburg, IN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,373 | 2.50% |
| Madison, IN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,079 | 2.75% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,249 | 2.50% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,532 | 4.38% |
| Seymour, IN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,681 | 3.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against THE MORTGAGE WAREHOUSE 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
For 2021, The Mortgage Warehouse's most frequently originated type of loan was Conventional, with 1,141 originations. Their 2nd most popular type was VA, with 31 originations.
Loan Reason
For 2021, The Mortgage Warehouse's most frequently cited loan purpose was Refi, with 614 originations. The 2nd most popular reason was Cash Out Refi, with 373 originations.
Loan Duration/Length
For 2021, The Mortgage Warehouse's most frequently cited loan duration was 30 Year, with 801 originations. The 2nd most popular length was 15 Year, with 274 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 1,145 | $274,935,000 | $240,118 |
| $<1k | 29 | $7,035,000 | $242,586 |
| $3k-4k | 3 | $675,000 | $225,000 |
| $2k-3k | 2 | $530,000 | $265,000 |
The Mortgage Warehouse's average total fees were $3,060, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,145 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 530 | $131,660,000 | $248,415 |
| 3-4% | 377 | $90,385,000 | $239,748 |
| <2.5% | 270 | $60,860,000 | $225,407 |
| 4-5% | 4 | $870,000 | $217,500 |
| 5-6% | 1 | $75,000 | $75,000 |
During 2021, The Mortgage Warehouse's average interest rate for loans was 3.03%, while their most frequently originated rate bucket for loans was 2.5-3%, with 530 originations.
Loan Sizing
2021 saw The Mortgage Warehouse place emphasis on $200k-400k loans with 623 originations, totaling $170,165,000 in origination value.
Applicant Income
The Mortgage Warehouse lent most frequently to those with incomes in the $100k-150k range, with 298 originations. The second most popular income band? $50k-75k, with 294 originations.
Applicant Debt to Income Ratio
The Mortgage Warehouse lent most frequently to those with DTI ratios of 20-30%, with 328 originations. The next most common DTI ratio? 30-36%, with 254 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.34%
The Mortgage Warehouse has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination80.46%
The Mortgage Warehouse has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $75,000 | $75,000 |
| NA | 1,181 | $283,775,000 | $240,284 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| THE MORTGAGE EXPERTS LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |