Mortgage Solutions Rates, Fees & Info
Saint Louis, MOLEI: 54930077O97ZNP1ECH16
Tax ID: 43-1847878
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Mortgage Data
Review & Overview
Mortgage Solutions is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Mortgage Solutions has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Jefferson City, Springfield, Joplin, and Kansas City among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Mortgage Solutions has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Mortgage Solutions 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.76% | 12/16/24 |
| 30 Year Conventional Refi | 6.38% | 12/16/24 |
| 30 Year Cash-out Refi | 6.80% | 12/16/24 |
| 15 Year Conventional Purchase | 6.56% | 12/16/24 |
| 15 Year Conventional Refi | 6.04% | 12/16/24 |
| 15 Year Cash-out Refi | 6.04% | 12/16/24 |
| 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. | ||
Mortgage Solutions Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
23Origination Dollar Volume (All Markets)
$2,785,000Awards
MORTGAGE SOLUTIONS - 2018
MORTGAGE SOLUTIONS is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 8 | $730,000 | $91,250 | $2,781 | 5.16% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $2,792 | 5.13% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $2,734 | 4.31% |
| JOPLIN, MO (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $2,586 | 4.75% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,691 | 4.81% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,622 | 5.25% |
| Outside of Metro Areas | 1 | $55,000 | $55,000 | $2,511 | 4.38% |
| Kirksville, MO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,072 | 4.63% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $2,526 | 4.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against MORTGAGE SOLUTIONS 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 23 | $2,785,000 | $121,087 | $2,689 | 4.87% |
For 2018, Mortgage Solutions's most frequently originated type of loan was Conventional, with 23 originations.
Loan Reason
For 2018, Mortgage Solutions's most frequently cited loan purpose was Home Purchase, with 14 originations. The 2nd most popular reason was Cash Out Refi, with 5 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 14 | $2,010,000 | $143,571 | $2,631 | 4.96% |
| 15 Year | 5 | $445,000 | $89,000 | $2,711 | 4.38% |
| 20 Year | 4 | $330,000 | $82,500 | $2,865 | 5.19% |
For 2018, Mortgage Solutions's most frequently cited loan duration was 30 Year, with 14 originations. The 2nd most popular length was 15 Year, with 5 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 23 | $2,785,000 | $121,087 |
Mortgage Solutions's average total fees were $2,631, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 23 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 13 | $1,625,000 | $125,000 |
| 5-6% | 6 | $600,000 | $100,000 |
| 3-4% | 2 | $280,000 | $140,000 |
| 6-7% | 2 | $280,000 | $140,000 |
During 2018, Mortgage Solutions's average interest rate for loans was 4.96%, while their most frequently originated rate bucket for loans was 4-5%, with 13 originations.
Loan Sizing
2018 saw Mortgage Solutions place emphasis on $100k-200k loans with 12 originations, totaling $1,680,000 in origination value.
Applicant Income
Mortgage Solutions lent most frequently to those with incomes in the $50k or less range, with 10 originations. The second most popular income band? $75k-100k, with 6 originations.
Applicant Debt to Income Ratio
Mortgage Solutions lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? 30-36%, with 4 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 20 | $2,430,000 | $121,500 | $2,652 | 4.74% |
| Not provided | 3 | $355,000 | $118,333 | $2,936 | 5.75% |
Approval Rates
Total approvals of all applications86.81%
Mortgage Solutions has an average approval rate.
Pick Rate
Approvals leading to origination-178.26%
Mortgage Solutions 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 | 23 | $2,785,000 | $121,087 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 23 | $2,785,000 | $121,087 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MORTGAGE SOLUTIONS OF COLORADO | Conventional home mortgage | Trouble during payment process | 2 | 33.3% |
| MORTGAGE SOLUTIONS OF COLORADO | VA mortgage | Closing on a mortgage | 1 | 16.7% |
| MORTGAGE SOLUTIONS OF COLORADO | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 16.7% |
| MORTGAGE SOLUTIONS OF COLORADO | FHA mortgage | Struggling to pay mortgage | 1 | 16.7% |
| MORTGAGE SOLUTIONS OF COLORADO | FHA mortgage | Closing on a mortgage | 1 | 16.7% |