Mortgage Express Rates, Fees & Info

PORTLAND, OR

LEI: 5493008JECR4UE0WVR04

Tax ID: 93-1296762

3.2 stars - Updated: 2/25/24 - out of 5 stars, based on 36 reviews

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

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Mortgage Data

Review & Overview

Mortgage Express is a smaller mortgage company specializing in Home Purchase loans. Mortgage Express 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: Portland, Corvallis, Medford, Salem, and Eugene among others. We have data for 43 markets. (Some data included below & more in-depth data is available with an active subscription.)

Mortgage Express 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. Mortgage Express 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 6.45% 2/25/24
30 Year Conventional Refi 6.29% 2/25/24
30 Year Cash-out Refi 6.47% 2/25/24
30 Year FHA Purchase 6.97% 2/25/24
30 Year FHA Refi 6.27% 2/25/24
30 Year VA Purchase 6.11% 2/25/24
30 Year VA Refi 6.11% 2/25/24
30 Year USDA Purchase 5.93% 2/25/24
15 Year Conventional Purchase 5.79% 2/25/24
15 Year Conventional Refi 5.83% 2/25/24
15 Year Cash-out Refi 5.83% 2/25/24
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 Express Mortgage Calculator






Your Estimates

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

This is not an official calculator from Mortgage Express. 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

1,288

Origination Dollar Volume (All Markets)

$515,090,000

Relative Rate

Mortgage Express's average 30 year fixed mortgage rate was 4.93%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.17%.

Relative Fees (Closing Costs)

Mortgage Express's average total fees/closing costs for a 30 year fixed rate mortgage were $7,781.

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 $4,750.

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
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 802 $336,350,000 $419,389 $7,829 4.90%
CORVALLIS, OR (FHA|USDA|VA) 89 $34,455,000 $387,135 $7,786 4.91%
MEDFORD, OR (FHA|USDA|VA) 78 $25,210,000 $323,205 $6,482 4.75%
SALEM, OR (FHA|USDA|VA) 64 $23,690,000 $370,156 $8,431 4.79%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 62 $21,970,000 $354,355 $6,505 4.88%
BEND, OR (FHA|USDA|VA) 28 $12,460,000 $445,000 $7,410 4.57%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 17 $9,975,000 $586,765 $8,988 4.90%
ALBANY-LEBANON, OR (FHA|USDA|VA) 33 $9,875,000 $299,242 $6,684 4.54%
Outside of Metro Areas 18 $6,950,000 $386,111 $8,284 4.13%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 8 $3,570,000 $446,250 $8,958 5.25%
LONGVIEW, WA (FHA|USDA|VA) 9 $2,865,000 $318,333 $6,804 5.14%
Newport, OR (FHA|USDA|VA) 9 $2,865,000 $318,333 $5,753 4.46%
GRANTS PASS, OR (FHA|USDA|VA) 9 $2,815,000 $312,778 $6,986 5.04%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 4 $2,070,000 $517,500 $8,923 5.40%
Coos Bay, OR (FHA|USDA|VA) 5 $1,805,000 $361,000 $8,034 5.28%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 4 $1,730,000 $432,500 $8,981 5.21%
Roseburg, OR (FHA|USDA|VA) 7 $1,515,000 $216,429 $4,323 5.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 4 $1,460,000 $365,000 $8,222 4.12%
Prineville, OR (FHA|USDA|VA) 3 $1,185,000 $395,000 $9,051 4.63%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 2 $1,070,000 $535,000 $3,850 4.88%
VALLEJO, CA (FHA|USDA|VA) 2 $1,010,000 $505,000 $6,835 4.88%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $955,000 $955,000 $11,093 4.38%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 2 $840,000 $420,000 $6,108 5.38%
The Dalles, OR (FHA|USDA|VA) 3 $815,000 $271,667 $4,071 3.54%
Klamath Falls, OR (FHA|USDA|VA) 3 $695,000 $231,667 $7,170 4.32%
WALLA WALLA, WA (FHA|USDA|VA) 1 $635,000 $635,000 $6,108 3.50%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $615,000 $615,000 $5,670 5.38%
Aberdeen, WA (FHA|USDA|VA) 2 $570,000 $285,000 $9,527 6.13%
STOCKTON, CA (FHA|USDA|VA) 1 $535,000 $535,000 $6,959 7.38%
BELLINGHAM, WA (FHA|USDA|VA) 1 $515,000 $515,000 $3,966 4.75%
TUCSON, AZ (FHA|USDA|VA) 2 $500,000 $250,000 $4,570 4.19%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 2 $480,000 $240,000 $4,201 4.69%
Shelton, WA (FHA|USDA|VA) 1 $395,000 $395,000 $7,483 5.38%
La Grande, OR (FHA|USDA|VA) 2 $370,000 $185,000 $7,394 4.75%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $365,000 $365,000 $7,240 6.13%
WENATCHEE, WA (FHA|USDA|VA) 1 $365,000 $365,000 $5,527 2.88%
Astoria, OR (FHA|USDA|VA) 1 $345,000 $345,000 $9,666 5.63%
Outside of Metro Areas 1 $285,000 $285,000 $4,592 7.13%
MODESTO, CA (FHA|USDA|VA) 1 $225,000 $225,000 $6,179 3.88%
YAKIMA, WA (FHA|USDA|VA) 1 $205,000 $205,000 $6,690 5.13%
Hermiston-Pendleton, OR (FHA|USDA|VA) 1 $195,000 $195,000 $8,590 4.50%
Ukiah, CA (FHA|USDA|VA) 1 $145,000 $145,000 $3,445 3.63%
Centralia, WA (FHA|USDA|VA) 1 $145,000 $145,000 $4,639 5.99%
Mortgage Express's top markets include Portland, Corvallis, Medford, Salem, and Eugene among others.

Their top states include:
  • Oregon (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against MORTGAGE EXPRESS based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    CASTPARTS EMPLOYEES
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    MARION AND POLK SCHOOLS CREDIT UNION
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    ALL WESTERN MORTGAGE, INC.
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,062 $416,830,000 $392,495 $6,456 4.88%
    FHA 142 $57,400,000 $404,225 $13,216 4.82%
    VA 77 $38,425,000 $499,026 $13,013 4.60%
    USDA 7 $2,435,000 $347,857 $12,319 4.62%

    For 2022, Mortgage Express's most frequently originated type of loan was Conventional, with 1,062 originations. Their 2nd most popular type was FHA, with 142 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 970 $407,360,000 $419,959 $8,153 5.07%
    Cash Out Refi 240 $83,390,000 $347,458 $6,423 4.40%
    Refi 75 $23,565,000 $314,200 $4,628 3.74%
    Home Improvement 3 $775,000 $258,333 $6,454 3.13%

    For 2022, Mortgage Express's most frequently cited loan purpose was Home Purchase, with 970 originations. The 2nd most popular reason was Cash Out Refi, with 240 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,216 $495,320,000 $407,336 $7,781 4.93%
    15 Year 60 $17,400,000 $290,000 $5,143 3.68%
    20 Year 8 $1,590,000 $198,750 $3,924 3.97%
    Other 3 $635,000 $211,667 $3,746 3.58%
    10 Year 1 $145,000 $145,000 $3,445 3.63%

    For 2022, Mortgage Express's most frequently cited loan duration was 30 Year, with 1,216 originations. The 2nd most popular length was 15 Year, with 60 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 460 $175,900,000 $382,391
    $5k+ 292 $136,010,000 $465,788
    $2k-3k 223 $80,685,000 $361,816
    $3k-4k 162 $60,230,000 $371,790
    $4k-5k 129 $50,925,000 $394,767
    $<1k 22 $11,340,000 $515,455

    Mortgage Express's average total fees were $7,781, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 460 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 421 $176,165,000 $418,444
    3-4% 338 $128,680,000 $380,710
    4-5% 290 $119,920,000 $413,517
    6-7% 153 $59,565,000 $389,314
    2.5-3% 47 $17,245,000 $366,915
    7-8% 32 $11,880,000 $371,250
    <2.5% 7 $1,635,000 $233,571

    During 2022, Mortgage Express's average interest rate for loans was 4.93%, while their most frequently originated rate bucket for loans was 5-6%, with 421 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 576 $179,510,000 $311,649 $6,789 4.83%
    $400k-600k 472 $226,190,000 $479,216 $8,697 4.93%
    $600k-1MM 129 $85,445,000 $662,364 $9,858 4.89%
    $100k-200k 97 $15,085,000 $155,515 $4,313 4.65%
    $100,000 or less 7 $555,000 $79,286 $3,138 4.78%
    $1MM+ 7 $8,305,000 $1,186,429 $12,511 4.89%

    2022 saw Mortgage Express place emphasis on $200k-400k loans with 576 originations, totaling $179,510,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 378 $160,940,000 $425,767 $8,152 4.85%
    $150k-250k 294 $138,540,000 $471,224 $7,920 5.05%
    $75k-100k 257 $91,115,000 $354,533 $7,552 4.87%
    $50k-75k 209 $60,635,000 $290,120 $6,618 4.61%
    $250k+ 106 $54,680,000 $515,849 $8,148 5.04%
    $50k or less 44 $9,180,000 $208,636 $4,979 4.35%

    Mortgage Express lent most frequently to those with incomes in the $100k-150k range, with 378 originations. The second most popular income band? $150k-250k, with 294 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 201 $77,155,000 $383,856 $6,473 4.72%
    30-36% 191 $79,375,000 $415,576 $7,079 4.80%
    49% 79 $30,115,000 $381,203 $7,463 5.04%
    42% 74 $29,570,000 $399,595 $7,509 4.83%
    44% 74 $30,290,000 $409,324 $7,442 5.03%
    <20% 70 $23,530,000 $336,143 $5,838 4.36%
    41% 70 $29,000,000 $414,286 $8,050 4.90%
    50-60% 68 $29,290,000 $430,735 $12,911 4.81%
    43% 61 $24,605,000 $403,361 $7,448 4.99%
    48% 58 $22,500,000 $387,931 $8,863 5.14%
    47% 53 $22,995,000 $433,868 $7,950 5.10%
    40% 44 $18,460,000 $419,545 $7,603 4.85%
    45% 44 $17,620,000 $400,455 $7,494 5.08%
    36% 44 $16,900,000 $384,091 $7,968 4.89%
    38% 42 $15,950,000 $379,762 $7,505 4.90%
    46% 42 $17,020,000 $405,238 $9,101 4.85%
    39% 41 $18,045,000 $440,122 $7,295 5.02%
    37% 32 $12,670,000 $395,938 $6,703 4.67%

    Mortgage Express lent most frequently to those with DTI ratios of 20-30%, with 201 originations. The next most common DTI ratio? 30-36%, with 191 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 956 $376,550,000 $393,881 $7,390 4.78%
    Not provided 243 $101,795,000 $418,909 $8,350 5.12%
    Asian 54 $22,290,000 $412,778 $6,899 5.05%
    Black 23 $10,135,000 $440,652 $10,257 4.85%
    American Indian 9 $2,965,000 $329,444 $9,048 5.26%
    Native Hawaiian or Islander 3 $1,355,000 $451,667 $10,710 5.08%

    Approval Rates

    Total approvals of all applications
    94.69%

    Mortgage Express has an average approval rate.

    Pick Rate

    Approvals leading to origination
    64.13%

    Mortgage Express 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 1,288 $515,090,000 $399,915

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,288 $515,090,000 $399,915

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 84 $16,910,000 $201,310 $4,586 4.60%
    40-60% 193 $62,125,000 $321,891 $5,898 4.66%
    60-80% 422 $179,170,000 $424,573 $7,212 4.83%
    80-100% 552 $243,080,000 $440,362 $8,554 5.00%
    Over 100% 22 $11,820,000 $537,273 $21,142 4.69%
    Under 20% 15 $1,985,000 $132,333 $4,184 4.72%

    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%