Mutual Mortgage Rates, Fees & Info

Vicksburg, MS

LEI: 549300A7PPGN7EQJ6578

Tax ID: 64-0333575

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Mortgage Data

Review & Overview

Mutual is a smaller mortgage company specializing in Other and Home Improvement loans. Mutual has a high proportion of conventional loans. Their top markets by origination volume include: Vicksburg, Jackson, Starkville, and Hattiesburg among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Mutual has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

82

Origination Dollar Volume (All Markets)

$7,300,000

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
Vicksburg, MS (FHA|USDA|VA) 54 $4,130,000 $76,481 $0 0.00%
JACKSON, MS (FHA|USDA|VA) 23 $2,935,000 $127,609 $0 0.00%
Outside of Metro Areas 3 $135,000 $45,000 $0 0.00%
Starkville, MS (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
HATTIESBURG, MS (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
Mutual's top markets include Vicksburg, Jackson, Starkville, and Hattiesburg among others.

Their top states include:
  • Mississippi (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 82 $7,300,000 $89,024 $0 0.00%

    For 2023, Mutual's most frequently originated type of loan was Conventional, with 82 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 35 $2,885,000 $82,429 $0 0.00%
    Home Improvement 25 $1,955,000 $78,200 $0 0.00%
    Cash Out Refi 12 $1,270,000 $105,833 $0 0.00%
    Home Purchase 6 $810,000 $135,000 $0 0.00%
    Refi 4 $380,000 $95,000 $0 0.00%

    For 2023, Mutual's most frequently cited loan purpose was Other, with 35 originations. The 2nd most popular reason was Home Improvement, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 82 $7,300,000 $89,024 $0 0.00%

    For 2023, Mutual's most frequently cited loan duration was Other, with 82 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 60 $3,050,000 $50,833 $0 0.00%
    $100k-200k 15 $2,125,000 $141,667 $0 0.00%
    $200k-400k 6 $1,700,000 $283,333 $0 0.00%
    $400k-600k 1 $425,000 $425,000 $0 0.00%

    2023 saw Mutual place emphasis on $100,000 or less loans with 60 originations, totaling $3,050,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 22 $2,260,000 $102,727 $0 0.00%
    $75k-100k 22 $1,550,000 $70,455 $0 0.00%
    $150k-250k 14 $1,370,000 $97,857 $0 0.00%
    $50k-75k 12 $610,000 $50,833 $0 0.00%
    $50k or less 7 $355,000 $50,714 $0 0.00%
    $250k+ 5 $1,155,000 $231,000 $0 0.00%

    Mutual lent most frequently to those with incomes in the $100k-150k range, with 22 originations. The second most popular income band? $75k-100k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 82 $7,300,000 $89,024 $0 0.00%

    Mutual lent most frequently to those with DTI ratios of Exempt%, with 82 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 67 $6,095,000 $90,970 $0 0.00%
    Black 14 $830,000 $59,286 $0 0.00%
    American Indian 1 $375,000 $375,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    68.66%

    Mutual has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    31.71%

    Mutual 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
    Exempt 82 $7,300,000 $89,024

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    82 $7,300,000 $89,024