Mortgage Solutions Rates, Fees & Info

Saint Louis, MO

LEI: 54930077O97ZNP1ECH16

Tax ID: 43-1847878

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Mortgage Solutions is a smaller mortgage company specializing in Home Purchase, Cash Out Refi, and Refi loans. Mortgage Solutions has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Springfield, Farmington, Joplin, and Fayetteville among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mortgage Solutions has an above average approval rate when compared to the average across all 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.

    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 6.76% 5/4/24
    30 Year Conventional Refi 6.38% 5/4/24
    30 Year Cash-out Refi 6.80% 5/4/24
    15 Year Conventional Purchase 6.56% 5/4/24
    15 Year Conventional Refi 6.04% 5/4/24
    15 Year Cash-out Refi 6.04% 5/4/24
    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






    Your Estimates

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

    This is not an official calculator from Mortgage Solutions. 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

    63

    Origination Dollar Volume (All Markets)

    $10,325,000

    Awards

    MORTGAGE SOLUTIONS 30 Year Conventional Loans gold MORTGAGE SOLUTIONS 30 Year Conventional Loans silver
    Show all (2) 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
    ST. LOUIS, MO-IL (FHA|USDA|VA) 45 $7,095,000 $157,667 $2,643 3.29%
    SPRINGFIELD, MO (FHA|USDA|VA) 9 $1,595,000 $177,222 $4,930 4.61%
    Farmington, MO (FHA|USDA|VA) 3 $375,000 $125,000 $3,472 3.88%
    Outside of Metro Areas 2 $340,000 $170,000 $6,438 5.19%
    JOPLIN, MO (FHA|USDA|VA) 1 $305,000 $305,000 $3,666 4.50%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $245,000 $245,000 $3,380 5.00%
    FORT SMITH, AR-OK (FHA|USDA|VA) 1 $205,000 $205,000 $6,302 4.88%
    ST. JOSEPH, MO-KS (FHA|USDA|VA) 1 $165,000 $165,000 $4,646 5.25%
    Mortgage Solutions's top markets include St. Louis, Springfield, Farmington, Joplin, and Fayetteville among others.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)

    • 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.

    D.W. BROWN MORTGAGE CORP.
    Similarity Rank: 59
    Ozarks Federal Savings and Loan Association
    Similarity Rank: 126
    First National Bank of Waterloo
    Similarity Rank: 216
    Gateway Metro Federal Credit Union
    Similarity Rank: 240
    MORTGAGE SOLUTIONS LLC
    Similarity Rank: 368
    United Bank of Union
    Similarity Rank: 450
    JERSEY STATE BANK
    Similarity Rank: 452
    Bank of Washington
    Similarity Rank: 728
    ALLTRU Federal Credit Union
    Similarity Rank: 764
    ELECTRO SAVINGS CREDIT UNION
    Similarity Rank: 888

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 63 $10,325,000 $163,889 $3,247 3.67%

    For 2022, Mortgage Solutions's most frequently originated type of loan was Conventional, with 63 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 26 $5,260,000 $202,308 $4,027 4.27%
    Cash Out Refi 20 $2,530,000 $126,500 $3,031 3.66%
    Refi 17 $2,535,000 $149,118 $2,309 2.76%

    For 2022, Mortgage Solutions's most frequently cited loan purpose was Home Purchase, with 26 originations. The 2nd most popular reason was Cash Out Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 35 $6,595,000 $188,429 $3,746 4.29%
    15 Year 25 $3,345,000 $133,800 $2,604 2.86%
    20 Year 3 $385,000 $128,333 $2,787 3.17%

    For 2022, Mortgage Solutions's most frequently cited loan duration was 30 Year, with 35 originations. The 2nd most popular length was 15 Year, with 25 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 46 $7,640,000 $166,087
    $2k-3k 9 $1,145,000 $127,222
    $3k-4k 4 $660,000 $165,000
    $5k+ 3 $665,000 $221,667
    $4k-5k 1 $215,000 $215,000

    Mortgage Solutions's average total fees were $3,746, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 46 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 22 $4,090,000 $185,909
    <2.5% 13 $1,685,000 $129,615
    4-5% 13 $2,535,000 $195,000
    2.5-3% 8 $1,090,000 $136,250
    5-6% 6 $830,000 $138,333
    6-7% 1 $95,000 $95,000

    During 2022, Mortgage Solutions's average interest rate for loans was 4.29%, while their most frequently originated rate bucket for loans was 3-4%, with 22 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 26 $3,810,000 $146,538 $3,030 3.55%
    $200k-400k 19 $4,535,000 $238,684 $3,949 4.01%
    $100,000 or less 17 $1,455,000 $85,588 $2,794 3.49%
    $400k-600k 1 $525,000 $525,000 $3,266 3.13%

    2022 saw Mortgage Solutions place emphasis on $100k-200k loans with 26 originations, totaling $3,810,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 16 $2,620,000 $163,750 $3,402 3.85%
    $50k or less 13 $1,385,000 $106,538 $2,875 3.86%
    $75k-100k 13 $2,375,000 $182,692 $3,444 3.49%
    $100k-150k 10 $1,620,000 $162,000 $3,597 3.91%
    $150k-250k 9 $1,675,000 $186,111 $2,829 3.24%
    $250k+ 2 $650,000 $325,000 $3,290 2.81%

    Mortgage Solutions lent most frequently to those with incomes in the $50k-75k range, with 16 originations. The second most popular income band? $50k or less, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 17 $2,765,000 $162,647 $3,324 3.58%
    30-36% 12 $1,900,000 $158,333 $3,574 3.95%
    <20% 5 $635,000 $127,000 $2,481 2.70%
    41% 4 $550,000 $137,500 $2,503 3.03%
    43% 4 $590,000 $147,500 $3,197 3.34%
    44% 3 $645,000 $215,000 $4,209 3.92%
    46% 3 $545,000 $181,667 $2,075 2.88%
    38% 3 $495,000 $165,000 $3,827 5.25%
    39% 2 $400,000 $200,000 $3,409 5.44%
    47% 2 $380,000 $190,000 $2,107 2.94%
    36% 2 $530,000 $265,000 $2,941 3.75%
    50-60% 1 $125,000 $125,000 $2,942 3.75%
    37% 1 $185,000 $185,000 $2,877 2.88%
    42% 1 $225,000 $225,000 $8,069 5.88%
    45% 1 $165,000 $165,000 $4,646 5.25%
    48% 1 $115,000 $115,000 $1,988 3.13%
    49% 1 $75,000 $75,000 $2,218 2.50%

    Mortgage Solutions lent most frequently to those with DTI ratios of 20-30%, with 17 originations. The next most common DTI ratio? 30-36%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 44 $7,750,000 $176,136 $3,450 3.82%
    Black 13 $1,825,000 $140,385 $2,738 3.09%
    Not provided 5 $675,000 $135,000 $2,736 3.78%
    Asian 1 $75,000 $75,000 $3,527 3.88%

    Approval Rates

    Total approvals of all applications
    100.00%

    Mortgage Solutions 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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 63 $10,325,000 $163,889

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    63 $10,325,000 $163,889

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $235,000 $78,333 $2,754 3.46%
    40-60% 12 $1,520,000 $126,667 $2,799 3.71%
    60-80% 29 $4,915,000 $169,483 $2,881 3.36%
    80-100% 19 $3,655,000 $192,368 $4,168 4.14%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Mortgage Research Center, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Mortgage Research Center, LLC VA mortgage Trouble during payment process 1 50.0%