Mortgage Express Rates, Fees & Info

PORTLAND, OR

LEI: 5493008JECR4UE0WVR04

Tax ID: 93-1296762

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Mortgage Express is a small mortgage company specializing in Refi and 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, Eugene, Medford, and Salem among others. We have data for 46 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 a low 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% 12/16/24
    30 Year Conventional Refi 6.29% 12/16/24
    30 Year Cash-out Refi 6.47% 12/16/24
    30 Year FHA Purchase 6.97% 12/16/24
    30 Year FHA Refi 6.27% 12/16/24
    30 Year VA Purchase 6.11% 12/16/24
    30 Year VA Refi 6.11% 12/16/24
    30 Year USDA Purchase 5.93% 12/16/24
    15 Year Conventional Purchase 5.79% 12/16/24
    15 Year Conventional Refi 5.83% 12/16/24
    15 Year Cash-out Refi 5.83% 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.

    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

    4,900

    Origination Dollar Volume (All Markets)

    $1,570,430,000
    Show all (19) awards

    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) 3,426 $1,139,830,000 $332,700 $4,468 3.09%
    CORVALLIS, OR (FHA|USDA|VA) 266 $79,380,000 $298,421 $5,413 2.96%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 261 $74,205,000 $284,310 $4,059 3.09%
    MEDFORD, OR (FHA|USDA|VA) 215 $58,865,000 $273,791 $4,577 3.11%
    SALEM, OR (FHA|USDA|VA) 165 $46,455,000 $281,545 $4,917 3.11%
    BEND, OR (FHA|USDA|VA) 142 $43,690,000 $307,676 $4,380 3.05%
    ALBANY-LEBANON, OR (FHA|USDA|VA) 92 $23,150,000 $251,630 $4,988 3.10%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 44 $15,600,000 $354,545 $4,070 3.06%
    Outside of Metro Areas 52 $14,200,000 $273,077 $4,457 3.01%
    Astoria, OR (FHA|USDA|VA) 26 $8,640,000 $332,308 $4,373 3.00%
    Newport, OR (FHA|USDA|VA) 30 $8,560,000 $285,333 $4,713 3.03%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 14 $6,590,000 $470,714 $8,492 3.13%
    Hood River, OR (FHA|USDA|VA) 18 $6,180,000 $343,333 $4,822 3.01%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 10 $4,310,000 $431,000 $3,651 3.09%
    LONGVIEW, WA (FHA|USDA|VA) 13 $3,825,000 $294,231 $3,313 3.07%
    Prineville, OR (FHA|USDA|VA) 10 $3,590,000 $359,000 $4,536 3.28%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 9 $3,315,000 $368,333 $4,777 3.00%
    GRANTS PASS, OR (FHA|USDA|VA) 12 $3,250,000 $270,833 $4,714 3.10%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 8 $2,600,000 $325,000 $3,648 3.16%
    Roseburg, OR (FHA|USDA|VA) 11 $2,595,000 $235,909 $3,899 2.99%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 6 $2,490,000 $415,000 $5,090 3.27%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 7 $2,315,000 $330,714 $2,842 3.02%
    The Dalles, OR (FHA|USDA|VA) 7 $1,825,000 $260,714 $3,764 3.41%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 7 $1,705,000 $243,571 $3,401 2.98%
    Klamath Falls, OR (FHA|USDA|VA) 7 $1,415,000 $202,143 $3,988 3.52%
    Coos Bay, OR (FHA|USDA|VA) 6 $1,400,000 $233,333 $4,233 3.15%
    MODESTO, CA (FHA|USDA|VA) 4 $1,190,000 $297,500 $5,375 3.22%
    BELLINGHAM, WA (FHA|USDA|VA) 3 $1,095,000 $365,000 $2,895 2.75%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $1,070,000 $535,000 $8,878 2.88%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 4 $870,000 $217,500 $3,179 3.19%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $840,000 $420,000 $6,850 3.19%
    Ellensburg, WA (FHA|USDA|VA) 2 $760,000 $380,000 $3,043 3.00%
    Port Angeles, WA (FHA|USDA|VA) 1 $595,000 $595,000 $4,735 4.00%
    Shelton, WA (FHA|USDA|VA) 2 $590,000 $295,000 $2,574 3.13%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 2 $460,000 $230,000 $1,900 2.56%
    Brookings, OR (FHA|USDA|VA) 2 $440,000 $220,000 $3,958 3.31%
    Hermiston-Pendleton, OR (FHA|USDA|VA) 2 $430,000 $215,000 $4,124 3.25%
    Aberdeen, WA (FHA|USDA|VA) 2 $380,000 $190,000 $4,921 3.81%
    MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 1 $345,000 $345,000 $2,713 4.00%
    STOCKTON, CA (FHA|USDA|VA) 1 $265,000 $265,000 $7,391 3.63%
    Moses Lake, WA (FHA|USDA|VA) 1 $245,000 $245,000 $3,243 3.00%
    La Grande, OR (FHA|USDA|VA) 1 $235,000 $235,000 $4,731 3.50%
    WALLA WALLA, WA (FHA|USDA|VA) 1 $195,000 $195,000 $2,003 2.25%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $175,000 $175,000 $2,635 2.88%
    Othello, WA (FHA|USDA|VA) 1 $145,000 $145,000 $2,701 2.75%
    CHICO, CA (FHA|USDA|VA) 1 $125,000 $125,000 $3,747 2.50%
    Mortgage Express's top markets include Portland, Corvallis, Eugene, Medford, and Salem among others.

    Their top states include:
  • Oregon (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • California (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.

    TRISTAR FINANCE, INC.
    Similarity Rank: 378
    People's Community Federal Credit Union
    Similarity Rank: 434
    CASTPARTS EMPLOYEES
    Similarity Rank: 524
    CENTRAL WILLAMETTE Credit Union
    Similarity Rank: 594
    OREGONIANS CREDIT UNION
    Similarity Rank: 948
    LOANSNAP, INC.
    Similarity Rank: 1106
    MARION AND POLK SCHOOLS CREDIT UNION
    Similarity Rank: 1380
    Pacific NW Federal Credit Union
    Similarity Rank: 1407
    SELCO COMMUNITY
    Similarity Rank: 1530
    Yakima Federal Savings and Loan Association
    Similarity Rank: 1565

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 4,354 $1,379,780,000 $316,899 $4,079 3.11%
    VA 279 $101,515,000 $363,853 $6,499 2.77%
    FHA 239 $80,155,000 $335,377 $9,861 2.97%
    USDA 28 $8,980,000 $320,714 $7,860 2.88%

    For 2020, Mortgage Express's most frequently originated type of loan was Conventional, with 4,354 originations. Their 2nd most popular type was VA, with 279 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 2,561 $791,875,000 $309,205 $3,699 3.01%
    Home Purchase 1,413 $500,945,000 $354,526 $5,848 3.11%
    Home Improvement 924 $276,970,000 $299,751 $4,777 3.24%
    Other 1 $435,000 $435,000 $2,460 3.00%
    Cash Out Refi 1 $205,000 $205,000 $4,166 4.13%

    For 2020, Mortgage Express's most frequently cited loan purpose was Refi, with 2,561 originations. The 2nd most popular reason was Home Purchase, with 1,413 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 4,203 $1,388,375,000 $330,330 $4,676 3.14%
    15 Year 532 $137,520,000 $258,496 $3,566 2.64%
    20 Year 111 $30,555,000 $275,270 $3,677 3.07%
    Other 38 $11,280,000 $296,842 $3,831 3.08%
    10 Year 16 $2,700,000 $168,750 $3,165 2.70%

    For 2020, Mortgage Express's most frequently cited loan duration was 30 Year, with 4,203 originations. The 2nd most popular length was 15 Year, with 532 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 3,395 $1,066,465,000 $314,128
    $2k-3k 659 $209,995,000 $318,657
    $3k-4k 328 $105,200,000 $320,732
    $<1k 224 $78,210,000 $349,152
    $4k-5k 157 $55,025,000 $350,478
    $5k+ 132 $53,910,000 $408,409

    Mortgage Express's average total fees were $4,676, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 3,395 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 2,218 $722,170,000 $325,595
    3-4% 2,082 $672,050,000 $322,791
    <2.5% 494 $145,990,000 $295,526
    4-5% 100 $28,460,000 $284,600
    5-6% 6 $1,760,000 $293,333

    During 2020, Mortgage Express's average interest rate for loans was 3.14%, while their most frequently originated rate bucket for loans was 2.5-3%, with 2,218 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 3,158 $949,220,000 $300,576 $4,436 3.10%
    $400k-600k 1,083 $503,435,000 $464,852 $5,303 3.07%
    $100k-200k 614 $100,140,000 $163,094 $3,344 3.01%
    $100,000 or less 23 $1,885,000 $81,957 $2,855 3.00%
    $600k-1MM 22 $15,750,000 $715,909 $12,998 3.23%

    2020 saw Mortgage Express place emphasis on $200k-400k loans with 3,158 originations, totaling $949,220,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,297 $447,285,000 $344,861 $4,623 3.10%
    $50k-75k 1,075 $288,965,000 $268,805 $4,486 3.08%
    $75k-100k 1,022 $320,930,000 $314,022 $4,574 3.09%
    $150k-250k 793 $297,385,000 $375,013 $4,487 3.11%
    $50k or less 486 $124,140,000 $255,432 $4,193 2.97%
    $250k+ 223 $90,315,000 $405,000 $4,731 3.12%

    Mortgage Express lent most frequently to those with incomes in the $100k-150k range, with 1,297 originations. The second most popular income band? $50k-75k, with 1,075 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,148 $363,990,000 $317,064 $4,100 3.05%
    30-36% 811 $260,155,000 $320,783 $4,549 3.11%
    <20% 457 $139,145,000 $304,475 $3,837 2.96%
    43% 214 $70,630,000 $330,047 $4,866 3.14%
    44% 201 $66,535,000 $331,020 $4,628 3.21%
    40% 180 $60,850,000 $338,056 $4,578 3.12%
    42% 178 $55,580,000 $312,247 $4,793 3.18%
    36% 177 $55,615,000 $314,209 $4,495 3.16%
    39% 173 $56,475,000 $326,445 $4,864 3.10%
    49% 155 $49,505,000 $319,387 $4,669 3.09%
    37% 151 $46,585,000 $308,510 $4,252 3.15%
    38% 149 $47,665,000 $319,899 $4,538 3.11%
    41% 149 $49,415,000 $331,644 $4,981 3.11%
    48% 134 $42,650,000 $318,284 $4,443 3.08%
    45% 133 $42,965,000 $323,045 $5,035 3.21%
    46% 121 $39,985,000 $330,455 $4,521 3.12%
    47% 113 $34,445,000 $304,823 $5,041 3.15%
    50-60% 75 $25,545,000 $340,600 $9,933 2.93%
    >60% 1 $285,000 $285,000 $6,393 3.00%

    Mortgage Express lent most frequently to those with DTI ratios of 20-30%, with 1,148 originations. The next most common DTI ratio? 30-36%, with 811 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,136 $1,315,670,000 $318,102 $4,505 3.09%
    Not provided 455 $152,045,000 $334,165 $4,665 3.05%
    Asian 209 $69,855,000 $334,234 $4,332 3.07%
    Black 48 $15,960,000 $332,500 $4,776 3.14%
    American Indian 34 $10,640,000 $312,941 $5,095 3.09%
    Native Hawaiian or Islander 17 $5,795,000 $340,882 $5,226 2.93%
    Asian Indian 1 $465,000 $465,000 $3,879 2.75%

    Approval Rates

    Total approvals of all applications
    95.73%

    Mortgage Express has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    73.92%

    Mortgage Express has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,900 $1,570,430,000 $320,496

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $375,000 $375,000
    Single Family (1-4 Units):Site-Built 4,899 $1,570,055,000 $320,485

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 274 $53,820,000 $196,423 $3,395 2.86%
    40-60% 1,081 $301,315,000 $278,737 $3,723 2.95%
    60-80% 2,126 $710,390,000 $334,144 $4,194 3.18%
    80-100% 1,376 $492,330,000 $357,798 $5,701 3.07%
    Over 100% 27 $10,425,000 $386,111 $14,379 3.08%
    Under 20% 16 $2,150,000 $134,375 $3,243 3.01%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    MORTGAGE EXPRESS, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%