Ark Mortgage Rates, Fees & InfoNORTH BRUNSWICK, NJ
Tax ID: 22-2498599
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewArk Mortgage is a smaller mortgage company specializing in Home Purchase loans. Ark 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.) Their top markets by origination volume include: New York, Poughkeepsie, Miami, Philadelphia, and Kingston among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)
Ark Mortgage 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. Ark Mortgage is typically a high 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 relatively high 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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.93%||5/27/23|
|30 Year Conventional Refi||7.02%||5/27/23|
|30 Year Cash-out Refi||7.02%||5/27/23|
|30 Year FHA Purchase||7.52%||5/27/23|
|15 Year Conventional Purchase||6.42%||5/27/23|
|15 Year Conventional Refi||6.18%||5/27/23|
|15 Year Cash-out Refi||6.18%||5/27/23|
|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.|
Ark Mortgage Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Ark Mortgage. 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.
Origination Dollar Volume (All Markets)$572,600,000
Ark Mortgage's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.47%.
Relative Fees (Closing Costs)
Ark Mortgage's average total fees/closing costs for a 30 year fixed rate
mortgage were $15,337.
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.
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|
|New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA)||751||$409,805,000||$545,679||$16,230||5.01%|
|POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA)||265||$117,255,000||$442,472||$14,200||5.36%|
|Outside of Metro Areas||63||$16,675,000||$264,683||$11,365||5.81%|
|Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA)||29||$13,595,000||$468,793||$13,893||5.22%|
|Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA)||12||$4,090,000||$340,833||$6,986||6.58%|
|KINGSTON, NY (FHA|USDA|VA)||13||$3,695,000||$284,231||$10,170||5.12%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||7||$2,435,000||$347,857||$12,800||6.86%|
|TRENTON-PRINCETON, NJ (FHA|USDA|VA)||9||$1,775,000||$197,222||$13,373||6.69%|
|LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA)||6||$1,150,000||$191,667||$10,869||7.25%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||2||$860,000||$430,000||$17,384||5.38%|
|VINELAND-BRIDGETON, NJ (FHA|USDA|VA)||2||$340,000||$170,000||$0||6.56%|
|OCALA, FL (FHA|USDA|VA)||1||$285,000||$285,000||$11,868||5.25%|
|ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA)||1||$195,000||$195,000||$5,304||4.50%|
|PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA)||1||$155,000||$155,000||$6,101||6.63%|
|ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA)||1||$155,000||$155,000||$9,875||4.50%|
|Plattsburgh, NY (FHA|USDA|VA)||1||$135,000||$135,000||$7,105||4.88%|
We use machine learning to identify the top lenders compared against ARK MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Ark Mortgage's most frequently originated type of loan was Conventional, with 1,160 originations. Their 2nd most popular type was FHA, with 4 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||237||$112,955,000||$476,603||$17,961||4.97%|
For 2022, Ark Mortgage's most frequently cited loan purpose was Home Purchase, with 707 originations. The 2nd most popular reason was Cash Out Refi, with 237 originations.
|Loan Length||Originations||Total Value||Average Loan||Average Fees||Average Rate|
For 2022, Ark Mortgage's most frequently cited loan duration was 30 Year, with 1,140 originations. The 2nd most popular length was 15 Year, with 19 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Ark Mortgage's average total fees were $15,337, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 769 originations.
During 2022, Ark Mortgage's average interest rate for loans was 5.23%, while their most frequently originated rate bucket for loans was 3-4%, with 280 originations.
2022 saw Ark Mortgage place emphasis on $200k-400k loans with 411 originations, totaling $125,805,000 in origination value.
Ark Mortgage lent most frequently to those with incomes in the $100k-150k range, with 271 originations. The second most popular income band? $250k+, with 260 originations.
Applicant Debt to Income Ratio
Ark Mortgage lent most frequently to those with DTI ratios of 30-36%, with 132 originations. The next most common DTI ratio? 49%, with 123 originations.
Approval RatesTotal approvals of all applications
Ark Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Ark 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|