Member Advantage Mortgage Rates, Fees & Info
EAST LANSING, MILEI: 5493007L3DI2JM8OHN91
Tax ID: 30-0376657
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Mortgage Data
Review & Overview
Member Advantage Mortgage is a smaller mortgage company specializing in Home Purchase loans. Member Advantage Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Springfield, Shreveport, Richmond, Boston, and York among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)Member Advantage Mortgage 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. Member Advantage Mortgage is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.69% | 11/17/24 |
| 30 Year Conventional Refi | 6.71% | 11/17/24 |
| 30 Year Cash-out Refi | 6.72% | 11/17/24 |
| 30 Year FHA Purchase | 7.75% | 11/17/24 |
| 30 Year VA Purchase | 6.76% | 11/17/24 |
| 30 Year USDA Purchase | 7.23% | 11/17/24 |
| 15 Year Conventional Purchase | 6.26% | 11/17/24 |
| 15 Year Conventional Refi | 5.93% | 11/17/24 |
| 15 Year Cash-out Refi | 5.93% | 11/17/24 |
| 15 Year FHA Purchase | 5.68% | 11/17/24 |
| 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. | ||
Member Advantage Mortgage Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Member Advantage Mortgage. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
78Origination Dollar Volume (All Markets)
$20,420,000Relative Rate
Member Advantage Mortgage's average 30 year fixed mortgage rate was
6.67%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.19%.
Relative Fees (Closing Costs)
Member Advantage Mortgage's average total fees/closing costs for a 30 year fixed rate
mortgage were $7,189.
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 |
|---|---|---|---|---|---|
| SPRINGFIELD, MA (FHA|USDA|VA) | 28 | $8,670,000 | $309,643 | $8,864 | 6.47% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 7 | $1,945,000 | $277,857 | $6,575 | 6.82% |
| RICHMOND, VA (FHA|USDA|VA) | 8 | $1,720,000 | $215,000 | $5,628 | 6.41% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 3 | $1,305,000 | $435,000 | $7,120 | 6.58% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 5 | $865,000 | $173,000 | $7,012 | 6.70% |
| HARRISONBURG, VA (FHA|USDA|VA) | 5 | $765,000 | $153,000 | $3,871 | 6.28% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $10,653 | 7.19% |
| PITTSBURGH, PA (FHA|USDA|VA) | 4 | $720,000 | $180,000 | $4,238 | 6.38% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $7,830 | 7.19% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $5,047 | 6.88% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $5,535 | 7.06% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $6,567 | 7.13% |
| Minden, LA (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $5,481 | 6.50% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,949 | 7.00% |
| Ardmore, OK (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,723 | 6.88% |
| Magnolia, AR (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,036 | 6.88% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,286 | 6.13% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,559 | 6.75% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $6,171 | 6.63% |
| Outside of Metro Areas | 1 | $65,000 | $65,000 | $4,010 | 7.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against MEMBER ADVANTAGE MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 22
Similarity Rank: 24
Similarity Rank: 40
Similarity Rank: 40
Similarity Rank: 42
Similarity Rank: 45
Similarity Rank: 68
Similarity Rank: 75
Similarity Rank: 88
Similarity Rank: 126
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 68 | $17,410,000 | $256,029 | $6,354 | 6.60% |
| FHA | 9 | $2,785,000 | $309,444 | $11,676 | 6.56% |
| USDA | 1 | $225,000 | $225,000 | $6,723 | 6.88% |
For 2023, Member Advantage Mortgage's most frequently originated type of loan was Conventional, with 68 originations. Their 2nd most popular type was FHA, with 9 originations.
Loan Reason
For 2023, Member Advantage Mortgage's most frequently cited loan purpose was Home Purchase, with 67 originations. The 2nd most popular reason was Other, with 5 originations.
Loan Duration/Length
For 2023, Member Advantage Mortgage's most frequently cited loan duration was 30 Year, with 71 originations. The 2nd most popular length was 15 Year, with 4 originations.
Origination Fees/Closing Costs
Member Advantage Mortgage's average total fees were $7,189, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 33 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 52 | $13,520,000 | $260,000 |
| 5-6% | 12 | $3,320,000 | $276,667 |
| 7-8% | 12 | $3,140,000 | $261,667 |
| 4-5% | 1 | $245,000 | $245,000 |
| Over 8% | 1 | $195,000 | $195,000 |
During 2023, Member Advantage Mortgage's average interest rate for loans was 6.67%, while their most frequently originated rate bucket for loans was 6-7%, with 52 originations.
Loan Sizing
2023 saw Member Advantage Mortgage place emphasis on $200k-400k loans with 47 originations, totaling $13,815,000 in origination value.
Applicant Income
Member Advantage Mortgage lent most frequently to those with incomes in the $75k-100k range, with 20 originations. The second most popular income band? $50k-75k, with 17 originations.
Applicant Debt to Income Ratio
Member Advantage Mortgage lent most frequently to those with DTI ratios of 20-30%, with 18 originations. The next most common DTI ratio? 30-36%, with 13 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.01%
Member Advantage Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination-129.49%
Member Advantage Mortgage 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 | 78 | $20,420,000 | $261,795 |