St James Mortgage Corporation Rates, Fees & Info

Bloomfield Hills, MI

LEI: 5493006Y55XBWPK4OX71

Tax ID: 38-2849685

5 stars - Updated: 6/23/24 - out of 5 stars, based on 4 reviews

Latest/2023 | 2022 Data | 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 and Cash Out Refi loans. St James Mortgage Corporation has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Ann Arbor, Flint, and Lansing among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

St James Mortgage Corporation 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. 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 relatively high 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% 6/23/24
30 Year Conventional Refi 5.78% 6/23/24
30 Year Cash-out Refi 6.16% 6/23/24
15 Year Conventional Purchase 5.66% 6/23/24
15 Year Conventional Refi 5.67% 6/23/24
15 Year Cash-out Refi 5.67% 6/23/24
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

17

Origination Dollar Volume (All Markets)

$4,685,000

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
Show all (3) awards

Relative Rate

St James Mortgage Corporation's average 30 year fixed mortgage rate was 6.48%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.01%.

Relative Fees (Closing Costs)

St James Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $1,772.

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 $9,089.

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) 14 $4,160,000 $297,143 $1,466 6.47%
ANN ARBOR, MI (FHA|USDA|VA) 1 $285,000 $285,000 $5,994 7.00%
FLINT, MI (FHA|USDA|VA) 1 $155,000 $155,000 $66 6.13%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $85,000 $85,000 $0 6.75%
St James Mortgage Corporation's top markets include Detroit, Ann Arbor, Flint, and Lansing 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.

    Michigan Legacy Credit Union
    Similarity Rank: 15
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    Similarity Rank: 104
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 17 $4,685,000 $275,588 $1,564 6.50%

    For 2023, St James Mortgage Corporation's most frequently originated type of loan was Conventional, with 17 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 9 $2,585,000 $287,222 $2,205 6.64%
    Cash Out Refi 6 $1,450,000 $241,667 $775 6.31%
    Other 1 $195,000 $195,000 $2,086 5.63%
    Refi 1 $455,000 $455,000 $0 7.25%

    For 2023, St James Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 9 originations. The 2nd most popular reason was Cash Out Refi, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 15 $4,055,000 $270,333 $1,772 6.48%
    15 Year 1 $175,000 $175,000 $0 6.13%
    20 Year 1 $455,000 $455,000 $0 7.25%

    For 2023, St James Mortgage Corporation's most frequently cited loan duration was 30 Year, with 15 originations. The 2nd most popular length was 15 Year, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 15 $4,325,000 $288,333
    $1k-2k 1 $75,000 $75,000
    $3k-4k 1 $285,000 $285,000

    St James Mortgage Corporation's average total fees were $1,772, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 15 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 11 $2,535,000 $230,455
    5-6% 3 $515,000 $171,667
    7-8% 3 $1,635,000 $545,000

    During 2023, St James Mortgage Corporation's average interest rate for loans was 6.48%, while their most frequently originated rate bucket for loans was 6-7%, with 11 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 6 $1,000,000 $166,667 $928 6.04%
    $400k-600k 4 $1,850,000 $462,500 $1,924 6.94%
    $100,000 or less 3 $235,000 $78,333 $1,589 6.42%
    $200k-400k 3 $875,000 $291,667 $2,851 6.71%
    $600k-1MM 1 $725,000 $725,000 $0 7.13%

    2023 saw St James Mortgage Corporation place emphasis on $100k-200k loans with 6 originations, totaling $1,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 4 $1,890,000 $472,500 $2,131 7.00%
    $50k-75k 4 $610,000 $152,500 $884 6.25%
    $150k-250k 3 $1,135,000 $378,333 $2,055 6.63%
    $75k-100k 3 $645,000 $215,000 $677 6.33%
    $100k-150k 2 $330,000 $165,000 $2,549 6.19%
    $50k or less 1 $75,000 $75,000 $1,231 6.25%

    St James Mortgage Corporation lent most frequently to those with incomes in the $250k+ range, with 4 originations. The second most popular income band? $50k-75k, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 5 $1,325,000 $265,000 $3,169 6.35%
    <20% 4 $860,000 $215,000 $266 6.53%
    41% 2 $490,000 $245,000 $1,222 6.75%
    39% 2 $900,000 $450,000 $0 6.63%
    38% 1 $75,000 $75,000 $1,231 6.25%
    20-30% 1 $425,000 $425,000 $2,529 6.63%
    40% 1 $155,000 $155,000 $971 5.88%
    37% 1 $455,000 $455,000 $2,500 7.13%

    St James Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 5 originations. The next most common DTI ratio? <20%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 14 $4,080,000 $291,429 $1,296 6.50%
    Asian 2 $440,000 $220,000 $3,721 6.75%
    Black 1 $165,000 $165,000 $1,000 6.00%

    Approval Rates

    Total approvals of all applications
    90.32%

    St James Mortgage Corporation has an average approval rate.

    Pick Rate

    Approvals leading to origination
    35.29%

    St James Mortgage Corporation has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 17 $4,685,000 $275,588

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    17 $4,685,000 $275,588

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $1,255,000 $418,333 $410 6.88%
    40-60% 5 $905,000 $181,000 $996 6.13%
    60-80% 5 $1,525,000 $305,000 $3,356 6.55%
    80-100% 4 $1,000,000 $250,000 $898 6.63%