Mortgage Express Rates, Fees & Info
PORTLAND, ORLEI: 5493008JECR4UE0WVR04
Tax ID: 93-1296762
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Mortgage Data
Review & Overview
Mortgage Express is a smaller mortgage company specializing in Home Purchase and Refi 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 38 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.45% | 4/21/24 |
| 30 Year Conventional Refi | 6.29% | 4/21/24 |
| 30 Year Cash-out Refi | 6.47% | 4/21/24 |
| 30 Year FHA Purchase | 6.97% | 4/21/24 |
| 30 Year FHA Refi | 6.27% | 4/21/24 |
| 30 Year VA Purchase | 6.11% | 4/21/24 |
| 30 Year VA Refi | 6.11% | 4/21/24 |
| 30 Year USDA Purchase | 5.93% | 4/21/24 |
| 15 Year Conventional Purchase | 5.79% | 4/21/24 |
| 15 Year Conventional Refi | 5.83% | 4/21/24 |
| 15 Year Cash-out Refi | 5.83% | 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. | ||
Mortgage Express Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,459Origination Dollar Volume (All Markets)
$801,785,000Awards
MORTGAGE EXPRESS - 2019
MORTGAGE EXPRESS is a 2019 , due to their low .
For 2019, 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 |
|---|---|---|---|---|---|
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1,760 | $599,680,000 | $340,727 | $5,542 | 4.05% |
| CORVALLIS, OR (FHA|USDA|VA) | 107 | $34,095,000 | $318,645 | $6,051 | 4.00% |
| MEDFORD, OR (FHA|USDA|VA) | 119 | $32,285,000 | $271,303 | $5,044 | 4.09% |
| SALEM, OR (FHA|USDA|VA) | 117 | $30,575,000 | $261,325 | $5,515 | 4.01% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 107 | $30,425,000 | $284,346 | $5,033 | 4.16% |
| BEND, OR (FHA|USDA|VA) | 61 | $19,825,000 | $325,000 | $5,320 | 4.03% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 43 | $11,345,000 | $263,837 | $6,155 | 4.11% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 17 | $6,235,000 | $366,765 | $4,234 | 3.96% |
| LONGVIEW, WA (FHA|USDA|VA) | 19 | $5,495,000 | $289,211 | $4,807 | 4.01% |
| Newport, OR (FHA|USDA|VA) | 16 | $4,560,000 | $285,000 | $4,628 | 4.05% |
| Outside of Metro Areas | 18 | $4,520,000 | $251,111 | $5,372 | 4.01% |
| Astoria, OR (FHA|USDA|VA) | 9 | $2,825,000 | $313,889 | $6,652 | 3.90% |
| GRANTS PASS, OR (FHA|USDA|VA) | 10 | $2,270,000 | $227,000 | $4,825 | 4.26% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 3 | $1,905,000 | $635,000 | $7,012 | 4.88% |
| Brookings, OR (FHA|USDA|VA) | 6 | $1,780,000 | $296,667 | $3,746 | 4.06% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 3 | $1,565,000 | $521,667 | $7,490 | 3.75% |
| Roseburg, OR (FHA|USDA|VA) | 5 | $1,265,000 | $253,000 | $3,470 | 4.23% |
| Prineville, OR (FHA|USDA|VA) | 5 | $1,215,000 | $243,000 | $4,540 | 3.85% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $3,840 | 3.92% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $5,070 | 3.71% |
| Coos Bay, OR (FHA|USDA|VA) | 5 | $735,000 | $147,000 | $5,256 | 4.00% |
| Shelton, WA (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $3,393 | 3.88% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $6,951 | 3.94% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $2,879 | 4.88% |
| Hood River, OR (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $4,172 | 4.06% |
| MODESTO, CA (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $3,957 | 4.50% |
| The Dalles, OR (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $7,571 | 4.31% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $5,325 | 4.63% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $4,059 | 4.13% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $3,447 | 3.63% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $5,513 | 3.63% |
| BELLINGHAM, WA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,624 | 3.75% |
| Oak Harbor, WA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,949 | 3.38% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,635 | 3.88% |
| La Grande, OR (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $14,185 | 3.38% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,704 | 4.50% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,054 | 4.00% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,346 | 3.75% |
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.
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Product Mix
For 2019, Mortgage Express's most frequently originated type of loan was Conventional, with 1,895 originations. Their 2nd most popular type was FHA, with 326 originations.
Loan Reason
For 2019, Mortgage Express's most frequently cited loan purpose was Home Purchase, with 1,298 originations. The 2nd most popular reason was Refi, with 733 originations.
Loan Duration/Length
For 2019, Mortgage Express's most frequently cited loan duration was 30 Year, with 2,281 originations. The 2nd most popular length was 15 Year, with 127 originations.
Origination Fees/Closing Costs
Mortgage Express's average total fees were $5,606, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,615 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1,408 | $461,190,000 | $327,550 |
| 4-5% | 954 | $312,380,000 | $327,442 |
| 5-6% | 78 | $21,980,000 | $281,795 |
| 2.5-3% | 19 | $6,235,000 | $328,158 |
During 2019, Mortgage Express's average interest rate for loans was 4.09%, while their most frequently originated rate bucket for loans was 3-4%, with 1,408 originations.
Loan Sizing
2019 saw Mortgage Express place emphasis on $200k-400k loans with 1,612 originations, totaling $484,120,000 in origination value.
Applicant Income
Mortgage Express lent most frequently to those with incomes in the $100k-150k range, with 654 originations. The second most popular income band? $50k-75k, with 579 originations.
Applicant Debt to Income Ratio
Mortgage Express lent most frequently to those with DTI ratios of 20-30%, with 447 originations. The next most common DTI ratio? 30-36%, with 397 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.63%
Mortgage Express has an average approval rate.
Pick Rate
Approvals leading to origination65.88%
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 | 2,459 | $801,785,000 | $326,061 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 2,459 | $801,785,000 | $326,061 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| 360 Mortgage Inc. | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |