The Mortgage Warehouse Rates, Fees & Info

LOUISVILLE, KY

LEI: 5493005G8JO0PPI0HN36

Tax ID: 02-0687335

5 stars - Updated: 9/25/23 - out of 5 stars, based on 19 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    The Mortgage Warehouse is a smaller mortgage company specializing in Home Purchase 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, Cape Coral, Naples, Lexington, and Punta Gorda among others. We have data for 21 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 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.

    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
    30 Year Conventional Purchase 6.71% 9/25/23
    30 Year Conventional Refi 6.52% 9/25/23
    30 Year Cash-out Refi 6.76% 9/25/23
    30 Year FHA Purchase 7.53% 9/25/23
    30 Year FHA Refi 6.27% 9/25/23
    30 Year VA Purchase 6.52% 9/25/23
    30 Year VA Refi 6.27% 9/25/23
    30 Year USDA Purchase 6.61% 9/25/23
    15 Year Conventional Purchase 6.12% 9/25/23
    15 Year Conventional Refi 5.95% 9/25/23
    15 Year Cash-out Refi 5.95% 9/25/23
    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.

    The Mortgage Warehouse Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from The Mortgage Warehouse. 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

    374

    Origination Dollar Volume (All Markets)

    $99,820,000
    Show all (6) awards

    Relative Rate

    The Mortgage Warehouse's average 30 year fixed mortgage rate was 4.82%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.06%.

    Relative Fees (Closing Costs)

    The Mortgage Warehouse's average total fees/closing costs for a 30 year fixed rate mortgage were $3,914.

    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, KY (FHA|USDA|VA) 232 $61,430,000 $264,784 $3,430 4.69%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 77 $20,995,000 $272,662 $4,024 4.57%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 15 $4,835,000 $322,333 $4,307 4.17%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 8 $2,510,000 $313,750 $3,150 4.38%
    Outside of Metro Areas 10 $2,140,000 $214,000 $5,396 4.24%
    PUNTA GORDA, FL (FHA|USDA|VA) 8 $2,060,000 $257,500 $5,477 4.61%
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 4 $970,000 $242,500 $5,813 4.06%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 4 $910,000 $227,500 $4,007 5.59%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $905,000 $301,667 $4,302 4.96%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $580,000 $290,000 $4,099 4.88%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $385,000 $385,000 $3,494 3.99%
    Clewiston, FL (FHA|USDA|VA) 1 $295,000 $295,000 $5,023 5.25%
    OWENSBORO, KY (FHA|USDA|VA) 1 $265,000 $265,000 $3,230 5.25%
    Arcadia, FL (FHA|USDA|VA) 1 $255,000 $255,000 $4,857 5.50%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $245,000 $245,000 $4,548 6.63%
    FORT WAYNE, IN (FHA|USDA|VA) 1 $195,000 $195,000 $2,355 6.13%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $185,000 $185,000 $4,043 3.63%
    BOWLING GREEN, KY (FHA|USDA|VA) 1 $185,000 $185,000 $5,334 7.00%
    Frankfort, KY (FHA|USDA|VA) 1 $185,000 $185,000 $6,414 3.63%
    Seymour, IN (FHA|USDA|VA) 1 $175,000 $175,000 $7,849 5.13%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $115,000 $115,000 $2,899 3.38%
    The Mortgage Warehouse's top markets include Louisville, Cape Coral, Naples, Lexington, and Punta Gorda among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)

    • 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.

    Peoples Exchange Bank
    Similarity Rank: 324
    MORTGAGE SUPPLIERS, INC.
    Similarity Rank: 462
    INDIANA MEMBERS CREDIT UNION
    Similarity Rank: 780
    The Monticello Banking Company
    Similarity Rank: 817
    The Citizens National Bank of Somerset
    Similarity Rank: 910
    COMMONWEALTH
    Similarity Rank: 950
    First Harrison Bank
    Similarity Rank: 969
    Allied First Bank,sb
    Similarity Rank: 1134
    TRANSCEND
    Similarity Rank: 1170
    NEAL COMMUNITIES FUNDING, LLC
    Similarity Rank: 1380

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 347 $93,055,000 $268,170 $3,436 4.62%
    VA 16 $4,430,000 $276,875 $8,193 4.74%
    FHA 10 $2,150,000 $215,000 $7,296 4.96%
    USDA 1 $185,000 $185,000 $5,334 7.00%

    For 2022, The Mortgage Warehouse's most frequently originated type of loan was Conventional, with 347 originations. Their 2nd most popular type was VA, with 16 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 195 $54,175,000 $277,821 $4,127 5.20%
    Cash Out Refi 124 $31,190,000 $251,532 $3,471 4.26%
    Refi 55 $14,455,000 $262,818 $3,028 3.50%

    For 2022, The Mortgage Warehouse's most frequently cited loan purpose was Home Purchase, with 195 originations. The 2nd most popular reason was Cash Out Refi, with 124 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 308 $83,550,000 $271,266 $3,914 4.82%
    15 Year 53 $13,365,000 $252,170 $2,915 3.69%
    20 Year 9 $2,245,000 $249,444 $3,438 4.44%
    10 Year 4 $660,000 $165,000 $2,541 3.31%

    For 2022, The Mortgage Warehouse's most frequently cited loan duration was 30 Year, with 308 originations. The 2nd most popular length was 15 Year, with 53 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 349 $93,385,000 $267,579
    $2k-3k 7 $1,585,000 $226,429
    $3k-4k 6 $1,410,000 $235,000
    $5k+ 6 $1,900,000 $316,667
    $<1k 3 $705,000 $235,000
    $4k-5k 2 $630,000 $315,000

    The Mortgage Warehouse's average total fees were $3,914, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 349 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 111 $31,215,000 $281,216
    5-6% 107 $27,995,000 $261,636
    4-5% 82 $20,450,000 $249,390
    6-7% 35 $8,335,000 $238,143
    2.5-3% 24 $6,460,000 $269,167
    7-8% 9 $3,615,000 $401,667
    <2.5% 6 $1,750,000 $291,667

    During 2022, The Mortgage Warehouse's average interest rate for loans was 4.82%, while their most frequently originated rate bucket for loans was 3-4%, with 111 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 204 $58,430,000 $286,422 $3,954 4.68%
    $100k-200k 110 $17,660,000 $160,545 $3,068 4.54%
    $400k-600k 44 $20,800,000 $472,727 $4,731 4.53%
    $100,000 or less 13 $1,015,000 $78,077 $2,872 5.46%
    $600k-1MM 3 $1,915,000 $638,333 $4,194 3.21%

    2022 saw The Mortgage Warehouse place emphasis on $200k-400k loans with 204 originations, totaling $58,430,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 94 $27,520,000 $292,766 $3,927 4.56%
    $50k-75k 87 $18,465,000 $212,241 $3,522 4.66%
    $75k-100k 77 $20,005,000 $259,805 $3,964 4.54%
    $150k-250k 67 $23,125,000 $345,149 $3,613 4.80%
    $50k or less 32 $4,280,000 $133,750 $3,084 4.78%
    $250k+ 16 $5,990,000 $374,375 $4,808 4.55%

    The Mortgage Warehouse lent most frequently to those with incomes in the $100k-150k range, with 94 originations. The second most popular income band? $50k-75k, with 87 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 77 $20,095,000 $260,974 $3,590 4.43%
    20-30% 73 $19,135,000 $262,123 $3,552 4.45%
    41% 21 $5,045,000 $240,238 $3,598 4.99%
    44% 21 $5,315,000 $253,095 $3,435 5.05%
    <20% 19 $4,285,000 $225,526 $2,947 4.33%
    42% 17 $5,365,000 $315,588 $3,574 4.21%
    39% 17 $5,395,000 $317,353 $3,676 4.94%
    43% 17 $4,805,000 $282,647 $3,633 5.12%
    40% 16 $4,480,000 $280,000 $3,262 4.42%
    38% 15 $3,885,000 $259,000 $3,712 4.37%
    36% 15 $4,175,000 $278,333 $4,623 4.58%
    47% 14 $3,880,000 $277,143 $4,478 5.35%
    45% 13 $3,375,000 $259,615 $3,398 4.50%
    37% 13 $4,085,000 $314,231 $5,287 4.35%
    49% 8 $1,590,000 $198,750 $3,367 5.31%
    48% 7 $2,105,000 $300,714 $5,032 4.95%
    46% 6 $1,400,000 $233,333 $4,512 5.65%
    50-60% 5 $1,405,000 $281,000 $6,944 5.33%

    The Mortgage Warehouse lent most frequently to those with DTI ratios of 30-36%, with 77 originations. The next most common DTI ratio? 20-30%, with 73 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 350 $94,190,000 $269,114 $3,690 4.60%
    Asian 8 $2,130,000 $266,250 $3,677 5.03%
    Black 8 $1,710,000 $213,750 $4,093 5.05%
    Not provided 7 $1,575,000 $225,000 $5,142 5.39%
    American Indian 1 $215,000 $215,000 $12,374 5.13%

    Approval Rates

    Total approvals of all applications
    94.43%

    The Mortgage Warehouse has an average approval rate.

    Pick Rate

    Approvals leading to origination
    73.26%

    The Mortgage Warehouse has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 374 $99,820,000 $266,898

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    374 $99,820,000 $266,898

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 22 $3,350,000 $152,273 $3,081 4.68%
    40-60% 55 $13,185,000 $239,727 $3,192 3.90%
    60-80% 165 $46,095,000 $279,364 $3,486 4.47%
    80-100% 126 $36,000,000 $285,714 $4,328 5.13%
    Over 100% 3 $895,000 $298,333 $9,564 5.79%
    Under 20% 3 $295,000 $98,333 $2,929 5.33%