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, Richmond, Worcester, Washington, and Harrisonburg among others. We have data for 43 markets. (Some data included below & more in-depth data is available with an active subscription.)Member Advantage Mortgage 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. 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 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 | 6.69% | 4/21/24 |
| 30 Year Conventional Refi | 6.71% | 4/21/24 |
| 30 Year Cash-out Refi | 6.72% | 4/21/24 |
| 30 Year FHA Purchase | 7.75% | 4/21/24 |
| 30 Year VA Purchase | 6.76% | 4/21/24 |
| 30 Year USDA Purchase | 7.23% | 4/21/24 |
| 15 Year Conventional Purchase | 6.26% | 4/21/24 |
| 15 Year Conventional Refi | 5.93% | 4/21/24 |
| 15 Year Cash-out Refi | 5.93% | 4/21/24 |
| 15 Year FHA Purchase | 5.68% | 4/21/24 |
| 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
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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
325Origination Dollar Volume (All Markets)
$58,345,000Awards
MEMBER ADVANTAGE MORTGAGE - 2018
MEMBER ADVANTAGE MORTGAGE 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 |
|---|---|---|---|---|---|
| SPRINGFIELD, MA (FHA|USDA|VA) | 95 | $18,325,000 | $192,895 | $4,947 | 4.51% |
| RICHMOND, VA (FHA|USDA|VA) | 59 | $8,905,000 | $150,932 | $4,487 | 4.75% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 34 | $6,730,000 | $197,941 | $4,041 | 4.62% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 16 | $4,550,000 | $284,375 | $5,541 | 4.55% |
| HARRISONBURG, VA (FHA|USDA|VA) | 15 | $2,345,000 | $156,333 | $4,134 | 4.37% |
| Marquette, MI (FHA|USDA|VA) | 12 | $1,590,000 | $132,500 | $3,286 | 4.56% |
| PITTSBURGH, PA (FHA|USDA|VA) | 10 | $1,410,000 | $141,000 | $4,386 | 4.59% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 8 | $1,350,000 | $168,750 | $4,829 | 4.56% |
| Minden, LA (FHA|USDA|VA) | 9 | $1,295,000 | $143,889 | $4,406 | 4.94% |
| Outside of Metro Areas | 10 | $1,250,000 | $125,000 | $4,046 | 4.61% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 4 | $1,050,000 | $262,500 | $4,120 | 4.44% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 7 | $1,025,000 | $146,429 | $4,122 | 4.46% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 4 | $980,000 | $245,000 | $5,373 | 4.47% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 4 | $670,000 | $167,500 | $6,537 | 4.63% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 4 | $600,000 | $150,000 | $4,361 | 4.81% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $4,060 | 4.38% |
| Easton, MD (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $8,630 | 3.88% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,912 | 5.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $3,694 | 4.69% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $3,625 | 4.56% |
| Magnolia, AR (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $4,190 | 4.81% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $4,416 | 4.67% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $5,613 | 5.13% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $8,272 | 4.63% |
| Natchitoches, LA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,268 | 4.38% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $9,197 | 4.63% |
| Keene, NH (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,025 | 4.63% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $8,010 | 4.38% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,867 | 4.75% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,644 | 4.13% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,709 | 4.75% |
| Sanford, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,554 | 4.63% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,307 | 4.63% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,723 | 4.63% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,877 | 4.63% |
| Indiana, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,781 | 4.25% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,863 | 4.88% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,082 | 3.88% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,876 | 4.38% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,442 | 4.75% |
| Mount Airy, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $4,439 | 4.63% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,032 | 4.13% |
| FLORENCE, SC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $4,280 | 4.13% |
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: 18
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Product Mix
For 2018, Member Advantage Mortgage's most frequently originated type of loan was Conventional, with 252 originations. Their 2nd most popular type was FHA, with 42 originations.
Loan Reason
For 2018, Member Advantage Mortgage's most frequently cited loan purpose was Home Purchase, with 219 originations. The 2nd most popular reason was Cash Out Refi, with 48 originations.
Loan Duration/Length
For 2018, Member Advantage Mortgage's most frequently cited loan duration was 30 Year, with 256 originations. The 2nd most popular length was 15 Year, with 49 originations.
Origination Fees/Closing Costs
Member Advantage Mortgage's average total fees were $4,750, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 170 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 266 | $48,890,000 | $183,797 |
| 3-4% | 35 | $6,055,000 | $173,000 |
| 5-6% | 24 | $3,400,000 | $141,667 |
During 2018, Member Advantage Mortgage's average interest rate for loans was 4.69%, while their most frequently originated rate bucket for loans was 4-5%, with 266 originations.
Loan Sizing
2018 saw Member Advantage Mortgage place emphasis on $100k-200k loans with 156 originations, totaling $23,110,000 in origination value.
Applicant Income
Member Advantage Mortgage lent most frequently to those with incomes in the $50k-75k range, with 105 originations. The second most popular income band? $100k-150k, with 60 originations.
Applicant Debt to Income Ratio
Member Advantage Mortgage lent most frequently to those with DTI ratios of 20-30%, with 84 originations. The next most common DTI ratio? 30-36%, with 62 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.02%
Member Advantage Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination41.23%
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 | 325 | $58,345,000 | $179,523 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 4 | $440,000 | $110,000 |
| Single Family (1-4 Units):Site-Built | 321 | $57,905,000 | $180,389 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEMBER FIRST MORTGAGE, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |