St James Mortgage Corporation Rates, Fees & Info

Bloomfield Hills, MI

LEI: 5493006Y55XBWPK4OX71

Tax ID: 38-2849685

5 stars - Updated: 2/26/24 - out of 5 stars, based on 7 reviews

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

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Mortgage Data

Review & Overview

St James Mortgage Corporation is a smaller mortgage company specializing in Home Purchase, Cash Out Refi, and Refi loans. St James Mortgage Corporation has a high proportion of conventional loans. Their top two markets are Detroit and Flint .

St James Mortgage Corporation has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. St James Mortgage Corporation 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 6.03% 2/26/24
30 Year Conventional Refi 5.78% 2/26/24
30 Year Cash-out Refi 6.16% 2/26/24
15 Year Conventional Purchase 5.66% 2/26/24
15 Year Conventional Refi 5.67% 2/26/24
15 Year Cash-out Refi 5.67% 2/26/24
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.

St James Mortgage Corporation Mortgage Calculator






Your Estimates

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

This is not an official calculator from St James Mortgage Corporation. 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

51

Origination Dollar Volume (All Markets)

$10,695,000

Awards

St James Mortgage Corporation 30 Year Conventional Loans gold St James Mortgage Corporation 30 Year Conventional Loans gold St James Mortgage Corporation 30 Year Conventional Loans silver St James Mortgage Corporation 30 Year Conventional Loans silver
Show all (4) awards

Relative Rate

St James Mortgage Corporation's average 30 year fixed mortgage rate was 4.58%.

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

This yields a difference of -0.18%.

Relative Fees (Closing Costs)

St James Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $2,187.

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
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 45 $9,845,000 $218,778 $2,076 3.86%
Outside of Metro Areas 4 $560,000 $140,000 $2,806 5.56%
FLINT, MI (FHA|USDA|VA) 2 $290,000 $145,000 $1,137 4.63%
St James Mortgage Corporation's top markets include Detroit and Flint among others.

Their top states include:
  • Michigan (FHA|USDA|VA)
  • Similar Lenders

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

    St James Mortgage Corporation
    Similarity Rank: 114
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 51 $10,695,000 $209,706 $2,096 4.03%

    For 2022, St James Mortgage Corporation's most frequently originated type of loan was Conventional, with 51 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 18 $4,680,000 $260,000 $3,376 4.87%
    Cash Out Refi 17 $3,145,000 $185,000 $1,623 3.85%
    Refi 15 $2,785,000 $185,667 $1,184 3.28%
    Other 1 $85,000 $85,000 $789 3.13%

    For 2022, St James Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 18 originations. The 2nd most popular reason was Cash Out Refi, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 28 $6,610,000 $236,071 $2,187 4.58%
    15 Year 19 $3,375,000 $177,632 $2,131 3.34%
    10 Year 2 $250,000 $125,000 $1,320 3.63%
    20 Year 1 $325,000 $325,000 $1,709 3.75%
    Other 1 $135,000 $135,000 $835 2.63%

    For 2022, St James Mortgage Corporation's most frequently cited loan duration was 30 Year, with 28 originations. The 2nd most popular length was 15 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 42 $8,490,000 $202,143
    $2k-3k 3 $745,000 $248,333
    $1k-2k 2 $210,000 $105,000
    $3k-4k 2 $540,000 $270,000
    $4k-5k 1 $335,000 $335,000
    $5k+ 1 $375,000 $375,000

    St James Mortgage Corporation's average total fees were $2,187, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 42 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 17 $3,125,000 $183,824
    2.5-3% 10 $1,580,000 $158,000
    4-5% 9 $1,695,000 $188,333
    5-6% 9 $3,015,000 $335,000
    <2.5% 3 $845,000 $281,667
    6-7% 3 $435,000 $145,000

    During 2022, St James Mortgage Corporation's average interest rate for loans was 4.58%, while their most frequently originated rate bucket for loans was 3-4%, with 17 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 26 $3,590,000 $138,077 $1,597 3.91%
    $200k-400k 14 $3,940,000 $281,429 $2,796 4.05%
    $400k-600k 6 $2,800,000 $466,667 $3,250 4.69%
    $100,000 or less 5 $365,000 $73,000 $1,348 3.75%

    2022 saw St James Mortgage Corporation place emphasis on $100k-200k loans with 26 originations, totaling $3,590,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 14 $1,960,000 $140,000 $1,241 3.62%
    $100k-150k 13 $3,025,000 $232,692 $2,645 4.02%
    $150k-250k 11 $3,175,000 $288,636 $2,846 4.22%
    $75k-100k 6 $970,000 $161,667 $2,150 4.63%
    $50k or less 4 $390,000 $97,500 $928 3.19%
    $250k+ 3 $1,175,000 $391,667 $2,412 5.21%

    St James Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 14 originations. The second most popular income band? $100k-150k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 14 $3,020,000 $215,714 $1,568 4.06%
    20-30% 13 $3,425,000 $263,462 $2,712 4.10%
    <20% 5 $825,000 $165,000 $1,006 3.58%
    44% 3 $325,000 $108,333 $1,849 3.88%
    41% 3 $705,000 $235,000 $1,978 3.83%
    37% 3 $725,000 $241,667 $1,455 4.38%
    46% 2 $380,000 $190,000 $3,111 4.50%
    48% 1 $125,000 $125,000 $1,306 2.75%
    50-60% 1 $125,000 $125,000 $4,533 4.50%
    36% 1 $135,000 $135,000 $1,413 3.13%
    38% 1 $205,000 $205,000 $1,004 5.00%
    39% 1 $55,000 $55,000 $714 3.25%
    40% 1 $375,000 $375,000 $11,488 5.25%
    42% 1 $135,000 $135,000 $835 2.63%
    43% 1 $135,000 $135,000 $1,310 5.63%

    St James Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 14 originations. The next most common DTI ratio? 20-30%, with 13 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 46 $9,900,000 $215,217 $2,144 4.08%
    Asian 3 $545,000 $181,667 $1,332 2.88%
    Asian Indian 1 $135,000 $135,000 $1,310 5.63%
    Not provided 1 $115,000 $115,000 $2,986 3.63%

    Approval Rates

    Total approvals of all applications
    98.25%

    St James Mortgage Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    90.20%

    St James Mortgage Corporation has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 51 $10,695,000 $209,706

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    51 $10,695,000 $209,706

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $950,000 $118,750 $1,511 3.78%
    40-60% 12 $2,220,000 $185,000 $1,998 3.74%
    60-80% 26 $5,790,000 $222,692 $1,863 4.15%
    80-100% 4 $1,630,000 $407,500 $5,407 4.81%
    Under 20% 1 $105,000 $105,000 $773 3.00%