Ark Mortgage Rates, Fees & Info
NORTH BRUNSWICK, NJLEI: 5493008VCYW25D52ZC98
Tax ID: 22-2498599
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Mortgage Data
Review & Overview
Ark Mortgage is a smaller mortgage company specializing in Home Purchase and Cash Out Refi 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, Philadelphia, Phoenix, and Trenton among others. We have data for 14 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.
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 | 7.94% | 4/5/25 |
| 30 Year Conventional Refi | 8.03% | 4/5/25 |
| 30 Year Cash-out Refi | 8.10% | 4/5/25 |
| 30 Year FHA Purchase | 5.98% | 4/5/25 |
| 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 Estimates
Estimated 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.
Originations
995Origination Dollar Volume (All Markets)
$536,315,000Relative Rate
Ark Mortgage's average 30 year fixed mortgage rate was
7.73%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 1.18%.
Relative Fees (Closing Costs)
Ark Mortgage's average total fees/closing costs for a 30 year fixed rate
mortgage were $15,097.
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 $8,356.
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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 581 | $360,835,000 | $621,059 | $15,259 | 7.80% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 200 | $98,230,000 | $491,150 | $14,055 | 7.62% |
| Outside of Metro Areas | 105 | $39,575,000 | $376,905 | $15,377 | 7.61% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 24 | $9,800,000 | $408,333 | $16,111 | 7.90% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 11 | $6,175,000 | $561,364 | $17,013 | 8.28% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 29 | $5,305,000 | $182,931 | $10,058 | 7.83% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 11 | $4,555,000 | $414,091 | $24,063 | 6.93% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 8 | $4,470,000 | $558,750 | $12,328 | 7.64% |
| KINGSTON, NY (FHA|USDA|VA) | 7 | $2,565,000 | $366,429 | $5,936 | 7.58% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 10 | $1,820,000 | $182,000 | $19,768 | 7.39% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $1,525,000 | $305,000 | $8,031 | 7.29% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $1,110,000 | $555,000 | $6,283 | 7.13% |
| Hudson, NY (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 6.38% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Similar Lenders
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.
Similarity Rank: 64
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 991 | $533,265,000 | $538,108 | $15,006 | 7.73% |
| FHA | 4 | $3,050,000 | $762,500 | $11,316 | 8.94% |
For 2024, Ark Mortgage's most frequently originated type of loan was Conventional, with 991 originations. Their 2nd most popular type was FHA, with 4 originations.
Loan Reason
For 2024, Ark Mortgage's most frequently cited loan purpose was Home Purchase, with 571 originations. The 2nd most popular reason was Cash Out Refi, with 284 originations.
Loan Duration/Length
For 2024, Ark Mortgage's most frequently cited loan duration was 30 Year, with 991 originations. The 2nd most popular length was 20 Year, with 2 originations.
Origination Fees/Closing Costs
Ark Mortgage's average total fees were $15,097, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 148 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 338 | $183,540,000 | $543,018 |
| Over 8% | 167 | $100,495,000 | $601,766 |
| 6-7% | 153 | $77,185,000 | $504,477 |
| 5-6% | 12 | $5,050,000 | $420,833 |
During 2024, Ark Mortgage's average interest rate for loans was 7.73%, while their most frequently originated rate bucket for loans was 7-8%, with 338 originations.
Loan Sizing
2024 saw Ark Mortgage place emphasis on $400k-600k loans with 321 originations, totaling $157,505,000 in origination value.
Applicant Income
Ark Mortgage lent most frequently to those with incomes in the $50k or less range, with 647 originations. The second most popular income band? $50k-75k, with 56 originations.
Applicant Debt to Income Ratio
Ark Mortgage lent most frequently to those with DTI ratios of >60%, with 104 originations. The next most common DTI ratio? 49%, with 92 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.08%
Ark Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination64.82%
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 |
|---|---|---|---|
| NA | 995 | $536,315,000 | $539,010 |