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 a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Springfield, Richmond, Worcester, Washington, and Shreveport among others. We have data for 39 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.69% | 12/16/24 |
| 30 Year Conventional Refi | 6.71% | 12/16/24 |
| 30 Year Cash-out Refi | 6.72% | 12/16/24 |
| 30 Year FHA Purchase | 7.75% | 12/16/24 |
| 30 Year VA Purchase | 6.76% | 12/16/24 |
| 30 Year USDA Purchase | 7.23% | 12/16/24 |
| 15 Year Conventional Purchase | 6.26% | 12/16/24 |
| 15 Year Conventional Refi | 5.93% | 12/16/24 |
| 15 Year Cash-out Refi | 5.93% | 12/16/24 |
| 15 Year FHA Purchase | 5.68% | 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. | ||
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
355Origination Dollar Volume (All Markets)
$78,955,000Top 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) | 140 | $35,640,000 | $254,571 | $5,181 | 3.03% |
| RICHMOND, VA (FHA|USDA|VA) | 51 | $8,485,000 | $166,373 | $4,222 | 3.07% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 27 | $7,275,000 | $269,444 | $4,916 | 3.09% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 16 | $4,900,000 | $306,250 | $4,326 | 2.90% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 15 | $3,025,000 | $201,667 | $4,465 | 2.98% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 8 | $2,830,000 | $353,750 | $4,465 | 3.11% |
| HARRISONBURG, VA (FHA|USDA|VA) | 9 | $1,705,000 | $189,444 | $4,363 | 3.13% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 11 | $1,485,000 | $135,000 | $4,227 | 3.32% |
| Minden, LA (FHA|USDA|VA) | 11 | $1,375,000 | $125,000 | $4,593 | 3.06% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 6 | $1,150,000 | $191,667 | $5,329 | 3.38% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 5 | $1,045,000 | $209,000 | $3,040 | 3.43% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 4 | $1,010,000 | $252,500 | $5,896 | 3.13% |
| Marquette, MI (FHA|USDA|VA) | 6 | $1,000,000 | $166,667 | $4,028 | 3.25% |
| Outside of Metro Areas | 6 | $1,000,000 | $166,667 | $3,140 | 2.92% |
| PITTSBURGH, PA (FHA|USDA|VA) | 8 | $960,000 | $120,000 | $4,097 | 2.98% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $4,749 | 3.29% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $4,892 | 3.04% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $4,660 | 3.38% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,262 | 2.88% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,543 | 3.25% |
| Ruston, LA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $5,692 | 2.88% |
| Magnolia, AR (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $4,101 | 2.96% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,215 | 2.88% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,497 | 3.75% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,784 | 2.88% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $9,308 | 3.63% |
| Ardmore, OK (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,415 | 3.38% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,510 | 3.25% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $11,024 | 3.00% |
| ALEXANDRIA, LA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,324 | 2.75% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,155 | 3.38% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,020 | 3.50% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $6,207 | 2.75% |
| OCALA, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,874 | 3.13% |
| Shelby, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,035 | 2.63% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,750 | 2.38% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,097 | 3.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,516 | 2.88% |
| Natchitoches, LA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $3,361 | 2.75% |
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.
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Product Mix
For 2021, Member Advantage Mortgage's most frequently originated type of loan was Conventional, with 323 originations. Their 2nd most popular type was FHA, with 16 originations.
Loan Reason
For 2021, Member Advantage Mortgage's most frequently cited loan purpose was Home Purchase, with 165 originations. The 2nd most popular reason was Other, with 63 originations.
Loan Duration/Length
For 2021, Member Advantage Mortgage's most frequently cited loan duration was 30 Year, with 255 originations. The 2nd most popular length was 15 Year, with 68 originations.
Origination Fees/Closing Costs
Member Advantage Mortgage's average total fees were $5,024, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 175 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 168 | $37,390,000 | $222,560 |
| 2.5-3% | 156 | $36,360,000 | $233,077 |
| <2.5% | 30 | $5,040,000 | $168,000 |
| 4-5% | 1 | $165,000 | $165,000 |
During 2021, Member Advantage Mortgage's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 3-4%, with 168 originations.
Loan Sizing
2021 saw Member Advantage Mortgage place emphasis on $200k-400k loans with 180 originations, totaling $49,700,000 in origination value.
Applicant Income
Member Advantage Mortgage lent most frequently to those with incomes in the $100k-150k range, with 99 originations. The second most popular income band? $50k-75k, with 79 originations.
Applicant Debt to Income Ratio
Member Advantage Mortgage lent most frequently to those with DTI ratios of 20-30%, with 93 originations. The next most common DTI ratio? 30-36%, with 72 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.97%
Member Advantage Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination9.58%
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 | 355 | $78,955,000 | $222,408 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEMBER FIRST MORTGAGE, LLC | Conventional home mortgage | Closing on a mortgage | 1 | 33.3% |
| MEMBER FIRST MORTGAGE, LLC | Conventional home mortgage | Incorrect information on your report | 1 | 33.3% |
| MEMBER FIRST MORTGAGE, LLC | Conventional home mortgage | Trouble during payment process | 1 | 33.3% |