St James Mortgage Corporation Rates, Fees & Info

Bloomfield Hills, MI

LEI: 5493006Y55XBWPK4OX71

Tax ID: 38-2849685

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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

    St James Mortgage Corporation is a smaller mortgage company specializing in Refi 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, Lansing, Flint, and Traverse City among others. We have data for 12 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.03% 4/14/24
    30 Year Conventional Refi 5.78% 4/14/24
    30 Year Cash-out Refi 6.16% 4/14/24
    15 Year Conventional Purchase 5.66% 4/14/24
    15 Year Conventional Refi 5.67% 4/14/24
    15 Year Cash-out Refi 5.67% 4/14/24
    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

    708

    Origination Dollar Volume (All Markets)

    $142,130,000
    Show all (6) awards

    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) 647 $128,895,000 $199,219 $1,231 2.87%
    ANN ARBOR, MI (FHA|USDA|VA) 16 $3,990,000 $249,375 $1,185 2.91%
    Outside of Metro Areas 22 $3,820,000 $173,636 $1,068 2.95%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 5 $1,315,000 $263,000 $1,301 3.05%
    FLINT, MI (FHA|USDA|VA) 6 $1,070,000 $178,333 $966 2.94%
    Traverse City, MI (FHA|USDA|VA) 4 $1,030,000 $257,500 $1,499 2.84%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 3 $1,025,000 $341,667 $1,781 2.79%
    MIDLAND, MI (FHA|USDA|VA) 1 $355,000 $355,000 $1,296 3.00%
    SAGINAW, MI (FHA|USDA|VA) 1 $255,000 $255,000 $1,106 2.63%
    NILES, MI (FHA|USDA|VA) 1 $165,000 $165,000 $1,297 3.00%
    Adrian, MI (FHA|USDA|VA) 1 $145,000 $145,000 $1,252 2.50%
    Alpena, MI (FHA|USDA|VA) 1 $65,000 $65,000 $655 2.88%
    St James Mortgage Corporation's top markets include Detroit, Ann Arbor, Lansing, Flint, and Traverse City 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.

    ADVANTAGE ONE Credit Union
    Similarity Rank: 287
    SECURITY CREDIT UNION
    Similarity Rank: 387
    St James Mortgage Corporation
    Similarity Rank: 408
    Polish-American Federal Credit Union
    Similarity Rank: 434
    BIRMINGHAM-BLOOMFIELD Credit Union
    Similarity Rank: 472
    T&I Credit union
    Similarity Rank: 660
    Preston Home Loans Inc
    Similarity Rank: 736
    NEW ENGLAND FEDERAL CREDIT UNION
    Similarity Rank: 1280
    Extra
    Similarity Rank: 1386
    Isabella Bank
    Similarity Rank: 1792

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 708 $142,130,000 $200,749 $1,227 2.87%

    For 2020, St James Mortgage Corporation's most frequently originated type of loan was Conventional, with 708 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 498 $97,400,000 $195,582 $1,134 2.86%
    Cash Out Refi 160 $33,930,000 $212,063 $1,358 2.89%
    Home Purchase 41 $9,185,000 $224,024 $1,783 2.96%
    Other 9 $1,615,000 $179,444 $1,475 2.96%

    For 2020, St James Mortgage Corporation's most frequently cited loan purpose was Refi, with 498 originations. The 2nd most popular reason was Cash Out Refi, with 160 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 338 $74,150,000 $219,379 $1,282 3.06%
    15 Year 222 $42,790,000 $192,748 $1,234 2.63%
    10 Year 59 $8,005,000 $135,678 $987 2.62%
    Other 56 $10,370,000 $185,179 $1,044 2.96%
    20 Year 33 $6,815,000 $206,515 $1,346 2.89%

    For 2020, St James Mortgage Corporation's most frequently cited loan duration was 30 Year, with 338 originations. The 2nd most popular length was 15 Year, with 222 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 684 $138,640,000 $202,690
    $1k-2k 10 $980,000 $98,000
    $2k-3k 6 $950,000 $158,333
    $3k-4k 4 $780,000 $195,000
    $4k-5k 2 $340,000 $170,000
    $5k+ 2 $440,000 $220,000

    St James Mortgage Corporation's average total fees were $1,282, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 684 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 405 $82,695,000 $204,185
    3-4% 160 $32,010,000 $200,063
    <2.5% 142 $27,190,000 $191,479
    4-5% 1 $235,000 $235,000

    During 2020, St James Mortgage Corporation's average interest rate for loans was 3.06%, while their most frequently originated rate bucket for loans was 2.5-3%, with 405 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 335 $49,725,000 $148,433 $1,086 2.87%
    $200k-400k 266 $72,160,000 $271,278 $1,350 2.90%
    $100,000 or less 76 $6,090,000 $80,132 $1,234 2.77%
    $400k-600k 31 $14,155,000 $456,613 $1,671 2.81%

    2020 saw St James Mortgage Corporation place emphasis on $100k-200k loans with 335 originations, totaling $49,725,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 204 $44,470,000 $217,990 $1,267 2.82%
    $75k-100k 166 $29,760,000 $179,277 $1,193 2.93%
    $150k-250k 122 $30,500,000 $250,000 $1,399 2.80%
    $50k-75k 121 $18,605,000 $153,760 $1,052 2.94%
    $50k or less 54 $6,670,000 $123,519 $1,090 2.92%
    $250k+ 41 $12,125,000 $295,732 $1,344 2.85%

    St James Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 204 originations. The second most popular income band? $75k-100k, with 166 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 240 $50,000,000 $208,333 $1,210 2.84%
    <20% 135 $25,715,000 $190,481 $1,163 2.83%
    30-36% 123 $24,535,000 $199,472 $1,201 2.88%
    40% 22 $4,030,000 $183,182 $1,336 2.91%
    41% 21 $4,145,000 $197,381 $1,166 3.11%
    39% 20 $5,270,000 $263,500 $1,261 2.85%
    48% 20 $3,380,000 $169,000 $1,114 2.80%
    43% 18 $3,630,000 $201,667 $1,299 2.95%
    42% 17 $2,775,000 $163,235 $1,171 2.85%
    36% 16 $3,550,000 $221,875 $1,388 2.91%
    37% 16 $3,280,000 $205,000 $1,222 2.96%
    38% 13 $3,595,000 $276,538 $1,450 2.97%
    50-60% 11 $1,265,000 $115,000 $2,568 2.89%
    45% 11 $2,275,000 $206,818 $1,150 2.92%
    46% 8 $1,390,000 $173,750 $985 2.75%
    47% 6 $1,210,000 $201,667 $1,229 2.90%
    44% 6 $1,040,000 $173,333 $1,039 3.00%
    49% 4 $890,000 $222,500 $1,089 3.13%
    >60% 1 $155,000 $155,000 $1,270 3.50%

    St James Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 240 originations. The next most common DTI ratio? <20%, with 135 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 599 $120,895,000 $201,828 $1,214 2.89%
    Not provided 48 $9,480,000 $197,500 $1,132 2.87%
    Asian 47 $8,535,000 $181,596 $1,404 2.63%
    Asian Indian 10 $2,740,000 $274,000 $1,515 2.76%
    Black 3 $325,000 $108,333 $1,539 2.88%
    Other Asian 1 $155,000 $155,000 $901 2.63%

    Approval Rates

    Total approvals of all applications
    96.77%

    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
    94.35%

    St James Mortgage Corporation has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 708 $142,130,000 $200,749

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $145,000 $145,000
    Single Family (1-4 Units):Site-Built 707 $141,985,000 $200,827

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 89 $11,965,000 $134,438 $1,016 2.69%
    40-60% 262 $49,230,000 $187,901 $1,109 2.84%
    60-80% 316 $71,580,000 $226,519 $1,352 2.93%
    80-100% 37 $8,955,000 $242,027 $1,532 3.04%
    Under 20% 4 $400,000 $100,000 $849 2.50%