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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.45% | 4/28/24 |
| 30 Year Conventional Refi | 6.29% | 4/28/24 |
| 30 Year Cash-out Refi | 6.47% | 4/28/24 |
| 30 Year FHA Purchase | 6.97% | 4/28/24 |
| 30 Year FHA Refi | 6.27% | 4/28/24 |
| 30 Year VA Purchase | 6.11% | 4/28/24 |
| 30 Year VA Refi | 6.11% | 4/28/24 |
| 30 Year USDA Purchase | 5.93% | 4/28/24 |
| 15 Year Conventional Purchase | 5.79% | 4/28/24 |
| 15 Year Conventional Refi | 5.83% | 4/28/24 |
| 15 Year Cash-out Refi | 5.83% | 4/28/24 |
| 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
1,288Origination Dollar Volume (All Markets)
$515,090,000Awards
MORTGAGE EXPRESS - 2022
MORTGAGE EXPRESS is a 2022 , due to their low .
For 2022, 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) | 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% |
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 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
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
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
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
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
2022 saw Mortgage Express place emphasis on $200k-400k loans with 576 originations, totaling $179,510,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications94.69%
Mortgage Express has an average approval rate.
Pick Rate
Approvals leading to origination64.13%
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 |
LTV Distribution
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% |