Churchill Mortgage Corporation

BRENTWOOD, TN 37027

LEI: 549300BLL6VL7AXWYP56

Tax ID: 62-1494087

2019 Data | 2018 Data


Overview

Churchill Mortgage Corporation is a small mortgage company specializing in Home Purchase and Refi loans. Churchill Mortgage Corporation 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 include Nashville, Phoenix, Dallas, Washington, and Los Angeles among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Churchill Mortgage Corporation is typically a medium-low fee lendor.


Originations

8,693

Origination Dollar Volume (All Markets)

$2,142,635,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 6,613 $1,602,725,000 $242,360
FHA 1,192 $272,650,000 $228,733
VA 783 $250,415,000 $319,815
USDA 105 $16,845,000 $160,429

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 5,350 $1,307,330,000 $244,361
Home Improvement 52 $10,680,000 $205,385
Refi 3,251 $816,355,000 $251,109
Cash Out Refi 40 $8,270,000 $206,750

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 1,008 $303,240,000 $300,833
Outside of Metro Areas 973 $177,555,000 $182,482
PHOENIX-MESA-CHANDLER, AZ 326 $76,520,000 $234,724
DALLAS-PLANO-IRVING, TX 294 $74,100,000 $252,041
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 164 $69,770,000 $425,427
LOS ANGELES-LONG BEACH-GLENDALE, CA 157 $68,825,000 $438,376
GRAND RAPIDS-KENTWOOD, MI 360 $66,200,000 $183,889
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 206 $65,250,000 $316,748
COLORADO SPRINGS, CO 185 $52,465,000 $283,595
KENNEWICK-RICHLAND, WA 173 $42,305,000 $244,538
FORT WORTH-ARLINGTON-GRAPEVINE, TX 180 $42,050,000 $233,611
DENVER-AURORA-LAKEWOOD, CO 118 $42,030,000 $356,186
OMAHA-COUNCIL BLUFFS, NE-IA 186 $39,980,000 $214,946
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 119 $39,435,000 $331,387
CHARLOTTE-CONCORD-GASTONIA, NC-SC 159 $38,965,000 $245,063
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 161 $35,895,000 $222,950
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 124 $30,980,000 $249,839
AUSTIN-ROUND ROCK-GEORGETOWN, TX 105 $30,165,000 $287,286
CINCINNATI, OH-KY-IN 157 $29,975,000 $190,924
BALTIMORE-COLUMBIA-TOWSON, MD 98 $29,840,000 $304,490
SAN ANTONIO-NEW BRAUNFELS, TX 110 $24,350,000 $221,364
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 101 $23,625,000 $233,911
TACOMA-LAKEWOOD, WA 55 $19,235,000 $349,727
SPOKANE-SPOKANE VALLEY, WA 79 $19,145,000 $242,342
ORLANDO-KISSIMMEE-SANFORD, FL 76 $18,540,000 $243,947
ANAHEIM-SANTA ANA-IRVINE, CA 39 $18,475,000 $473,718
SEATTLE-BELLEVUE-KENT, WA 51 $17,415,000 $341,471
CHATTANOOGA, TN-GA 86 $16,800,000 $195,349
RALEIGH-CARY, NC 66 $16,520,000 $250,303
TAMPA-ST. PETERSBURG-CLEARWATER, FL 77 $16,105,000 $209,156
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 36 $15,000,000 $416,667
LANSING-EAST LANSING, MI 90 $14,800,000 $164,444
SACRAMENTO-ROSEVILLE-FOLSOM, CA 46 $14,200,000 $308,696
KANSAS CITY, MO-KS 66 $12,560,000 $190,303
OAKLAND-BERKELEY-LIVERMORE, CA 30 $12,550,000 $418,333
CHARLESTON-NORTH CHARLESTON, SC 47 $11,945,000 $254,149
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 29 $11,685,000 $402,931
BEND, OR 37 $11,385,000 $307,703
SALEM, OR 42 $10,600,000 $252,381
INDIANAPOLIS-CARMEL-ANDERSON, IN 52 $10,550,000 $202,885
MEMPHIS, TN-MS-AR 45 $9,935,000 $220,778
GREENVILLE-ANDERSON, SC 54 $9,670,000 $179,074
BOISE CITY, ID 37 $8,605,000 $232,568
MIDLAND, TX 33 $8,325,000 $252,273
WARREN-TROY-FARMINGTON HILLS, MI 46 $8,290,000 $180,217
TUCSON, AZ 42 $8,200,000 $195,238
KNOXVILLE, TN 29 $7,895,000 $272,241
LOUISVILLE/JEFFERSON COUNTY, KY-IN 39 $7,565,000 $193,974
BIRMINGHAM-HOOVER, AL 31 $7,565,000 $244,032
ST. LOUIS, MO-IL 32 $7,500,000 $234,375
OKLAHOMA CITY, OK 39 $7,135,000 $182,949
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 23 $6,285,000 $273,261
CLARKSVILLE, TN-KY 29 $6,225,000 $214,655
FRESNO, CA 27 $5,985,000 $221,667
OXNARD-THOUSAND OAKS-VENTURA, CA 13 $5,845,000 $449,615
JACKSONVILLE, FL 26 $5,800,000 $223,077
PROVIDENCE-WARWICK, RI-MA 22 $5,410,000 $245,909
PALM BAY-MELBOURNE-TITUSVILLE, FL 22 $5,300,000 $240,909
LEXINGTON-FAYETTE, KY 25 $5,235,000 $209,400
TULSA, OK 22 $4,990,000 $226,818
PRESCOTT VALLEY-PRESCOTT, AZ 20 $4,690,000 $234,500
NEW BRUNSWICK-LAKEWOOD, NJ 16 $4,310,000 $269,375
PENSACOLA-FERRY PASS-BRENT, FL 22 $4,200,000 $190,909
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 14 $4,160,000 $297,143
WACO, TX 19 $3,905,000 $205,526
COLLEGE STATION-BRYAN, TX 17 $3,865,000 $227,353
COLUMBUS, OH 19 $3,595,000 $189,211
OLYMPIA-LACEY-TUMWATER, WA 11 $3,525,000 $320,455
CLEVELAND-ELYRIA, OH 18 $3,490,000 $193,889
VALLEJO, CA 10 $3,450,000 $345,000
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 6 $3,420,000 $570,000
NORTH PORT-SARASOTA-BRADENTON, FL 14 $3,400,000 $242,857
DAYTON-KETTERING, OH 23 $3,335,000 $145,000
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 18 $3,300,000 $183,333
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 9 $3,285,000 $365,000
NEWARK, NJ-PA 13 $3,255,000 $250,385
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 10 $3,250,000 $325,000
COLUMBIA, SC 16 $3,190,000 $199,375
GREENSBORO-HIGH POINT, NC 18 $3,150,000 $175,000
DURHAM-CHAPEL HILL, NC 14 $3,140,000 $224,286
BOSTON, MA 9 $3,125,000 $347,222
WINSTON-SALEM, NC 19 $3,075,000 $161,842
RICHMOND, VA 13 $3,055,000 $235,000
GREELEY, CO 11 $3,035,000 $275,909
FORT COLLINS, CO 11 $2,985,000 $271,364
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 15 $2,885,000 $192,333
HUNTSVILLE, AL 15 $2,875,000 $191,667
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 16 $2,860,000 $178,750
PUEBLO, CO 14 $2,820,000 $201,429
DETROIT-DEARBORN-LIVONIA, MI 14 $2,780,000 $198,571
BAKERSFIELD, CA 12 $2,760,000 $230,000
ASHEVILLE, NC 12 $2,710,000 $225,833
COEUR D'ALENE, ID 11 $2,705,000 $245,909
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 14 $2,680,000 $191,429
BATON ROUGE, LA 12 $2,660,000 $221,667
CAMDEN, NJ 13 $2,645,000 $203,462
AMARILLO, TX 13 $2,535,000 $195,000
NAPLES-MARCO ISLAND, FL 8 $2,440,000 $305,000
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 11 $2,395,000 $217,727
SAN LUIS OBISPO-PASO ROBLES, CA 6 $2,360,000 $393,333
CAPE CORAL-FORT MYERS, FL 11 $2,345,000 $213,182
MUSKEGON, MI 16 $2,340,000 $146,250
LONGVIEW, TX 12 $2,310,000 $192,500
PORT ST. LUCIE, FL 10 $2,310,000 $231,000
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 12 $2,280,000 $190,000
CHICAGO-NAPERVILLE-EVANSTON, IL 10 $2,230,000 $223,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 9 $2,215,000 $246,111
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 8 $2,180,000 $272,500
CORPUS CHRISTI, TX 9 $2,065,000 $229,444
WORCESTER, MA-CT 8 $2,060,000 $257,500
TALLAHASSEE, FL 8 $2,050,000 $256,250
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 8 $2,040,000 $255,000
SAN RAFAEL, CA 4 $2,000,000 $500,000
SAVANNAH, GA 7 $1,995,000 $285,000
SPARTANBURG, SC 11 $1,975,000 $179,545
KILLEEN-TEMPLE, TX 10 $1,930,000 $193,000
MIAMI-MIAMI BEACH-KENDALL, FL 8 $1,910,000 $238,750
BREMERTON-SILVERDALE-PORT ORCHARD, WA 8 $1,880,000 $235,000
REDDING, CA 6 $1,820,000 $303,333
JACKSON, MS 9 $1,805,000 $200,556
GARY, IN 10 $1,800,000 $180,000
BOULDER, CO 5 $1,775,000 $355,000
LINCOLN, NE 7 $1,745,000 $249,286
LUBBOCK, TX 9 $1,745,000 $193,889
PITTSBURGH, PA 11 $1,745,000 $158,636
ANCHORAGE, AK 6 $1,730,000 $288,333
LAKELAND-WINTER HAVEN, FL 8 $1,730,000 $216,250
YORK-HANOVER, PA 9 $1,725,000 $191,667
ALBANY-LEBANON, OR 6 $1,720,000 $286,667
CALIFORNIA-LEXINGTON PARK, MD 5 $1,715,000 $343,000
HAGERSTOWN-MARTINSBURG, MD-WV 10 $1,710,000 $171,000
ALBUQUERQUE, NM 10 $1,690,000 $169,000
FLINT, MI 10 $1,670,000 $167,000
BLOOMINGTON, IN 7 $1,655,000 $236,429
ANN ARBOR, MI 5 $1,655,000 $331,000
BOWLING GREEN, KY 5 $1,635,000 $327,000
WICHITA, KS 9 $1,625,000 $180,556
GRAND JUNCTION, CO 7 $1,605,000 $229,286
KALAMAZOO-PORTAGE, MI 10 $1,600,000 $160,000
FLAGSTAFF, AZ 5 $1,595,000 $319,000
OCALA, FL 10 $1,590,000 $159,000
AUGUSTA-RICHMOND COUNTY, GA-SC 7 $1,575,000 $225,000
BARNSTABLE TOWN, MA 6 $1,570,000 $261,667
SPRINGFIELD, MO 9 $1,515,000 $168,333
BLACKSBURG-CHRISTIANSBURG, VA 7 $1,495,000 $213,571
YUMA, AZ 8 $1,480,000 $185,000
MODESTO, CA 5 $1,475,000 $295,000
VISALIA, CA 6 $1,470,000 $245,000
FAYETTEVILLE, NC 10 $1,460,000 $146,000
LAKE HAVASU CITY-KINGMAN, AZ 9 $1,445,000 $160,556
FORT WAYNE, IN 9 $1,435,000 $159,444
ABILENE, TX 7 $1,435,000 $205,000
NEW ORLEANS-METAIRIE, LA 7 $1,425,000 $203,571
LAFAYETTE-WEST LAFAYETTE, IN 8 $1,420,000 $177,500
COLUMBUS, GA-AL 8 $1,420,000 $177,500
IDAHO FALLS, ID 10 $1,410,000 $141,000
TOLEDO, OH 9 $1,405,000 $156,111
DES MOINES-WEST DES MOINES, IA 9 $1,405,000 $156,111
CLEVELAND, TN 9 $1,405,000 $156,111
MONTGOMERY, AL 8 $1,400,000 $175,000
KINGSPORT-BRISTOL, TN-VA 8 $1,400,000 $175,000
TYLER, TX 7 $1,395,000 $199,286
EVANSVILLE, IN-KY 7 $1,385,000 $197,857
LYNCHBURG, VA 7 $1,385,000 $197,857
WALLA WALLA, WA 6 $1,380,000 $230,000
JACKSONVILLE, NC 6 $1,380,000 $230,000
ODESSA, TX 7 $1,365,000 $195,000
BRIDGEPORT-STAMFORD-NORWALK, CT 5 $1,355,000 $271,000
TOPEKA, KS 8 $1,330,000 $166,250
MOBILE, AL 8 $1,320,000 $165,000
STOCKTON, CA 5 $1,315,000 $263,000
HARRISBURG-CARLISLE, PA 7 $1,295,000 $185,000
STAUNTON, VA 6 $1,280,000 $213,333
MANCHESTER-NASHUA, NH 4 $1,260,000 $315,000
WENATCHEE, WA 5 $1,255,000 $251,000
NEW BERN, NC 8 $1,240,000 $155,000
JACKSON, MI 7 $1,235,000 $176,429
SHERMAN-DENISON, TX 5 $1,215,000 $243,000
SOUTH BEND-MISHAWAKA, IN-MI 10 $1,200,000 $120,000
JACKSON, TN 7 $1,195,000 $170,714
MILWAUKEE-WAUKESHA, WI 5 $1,145,000 $229,000
SANTA MARIA-SANTA BARBARA, CA 7 $1,135,000 $162,143
CORVALLIS, OR 4 $1,130,000 $282,500
TWIN FALLS, ID 3 $1,105,000 $368,333
ATLANTIC CITY-HAMMONTON, NJ 5 $1,095,000 $219,000
SAN ANGELO, TX 7 $1,075,000 $153,571
EL PASO, TX 8 $1,060,000 $132,500
YUBA CITY, CA 7 $1,055,000 $150,714
ATHENS-CLARKE COUNTY, GA 3 $1,055,000 $351,667
ROANOKE, VA 6 $1,050,000 $175,000
MEDFORD, OR 5 $1,025,000 $205,000
LANCASTER, PA 6 $1,020,000 $170,000
MOUNT VERNON-ANACORTES, WA 3 $1,005,000 $335,000
CHARLOTTESVILLE, VA 5 $975,000 $195,000
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 5 $955,000 $191,000
SCRANTON--WILKES-BARRE, PA 5 $935,000 $187,000
GREENVILLE, NC 5 $925,000 $185,000
ELKHART-GOSHEN, IN 6 $880,000 $146,667
AKRON, OH 7 $875,000 $125,000
WICHITA FALLS, TX 3 $875,000 $291,667
NILES, MI 6 $870,000 $145,000
SALISBURY, MD-DE 3 $865,000 $288,333
FAIRBANKS, AK 3 $855,000 $285,000
WILMINGTON, NC 4 $850,000 $212,500
EUGENE-SPRINGFIELD, OR 3 $845,000 $281,667
HICKORY-LENOIR-MORGANTON, NC 6 $820,000 $136,667
DOTHAN, AL 4 $810,000 $202,500
CANTON-MASSILLON, OH 6 $800,000 $133,333
LAS CRUCES, NM 4 $800,000 $200,000
RACINE, WI 3 $795,000 $265,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 6 $790,000 $131,667
GAINESVILLE, FL 3 $785,000 $261,667
SHREVEPORT-BOSSIER CITY, LA 5 $745,000 $149,000
BROWNSVILLE-HARLINGEN, TX 4 $740,000 $185,000
HARRISONBURG, VA 4 $720,000 $180,000
PHILADELPHIA, PA 2 $720,000 $360,000
HATTIESBURG, MS 5 $695,000 $139,000
HOMOSASSA SPRINGS, FL 3 $685,000 $228,333
SEBASTIAN-VERO BEACH, FL 5 $665,000 $133,000
MONROE, MI 3 $645,000 $215,000
SAGINAW, MI 4 $630,000 $157,500
CHEYENNE, WY 2 $630,000 $315,000
CHAMBERSBURG-WAYNESBORO, PA 3 $625,000 $208,333
WARNER ROBINS, GA 4 $620,000 $155,000
FARMINGTON, NM 2 $620,000 $310,000
YAKIMA, WA 3 $585,000 $195,000
BEAUMONT-PORT ARTHUR, TX 4 $580,000 $145,000
READING, PA 3 $565,000 $188,333
CHARLESTON, WV 5 $555,000 $111,000
LAREDO, TX 2 $550,000 $275,000
GAINESVILLE, GA 3 $545,000 $181,667
MADERA, CA 3 $545,000 $181,667
DECATUR, AL 4 $540,000 $135,000
JOPLIN, MO 3 $535,000 $178,333
OWENSBORO, KY 4 $530,000 $132,500
LAKE COUNTY-KENOSHA COUNTY, IL-WI 2 $530,000 $265,000
THE VILLAGES, FL 4 $530,000 $132,500
MONROE, LA 3 $515,000 $171,667
GRAND ISLAND, NE 3 $515,000 $171,667
JOHNSON CITY, TN 4 $500,000 $125,000
ST. JOSEPH, MO-KS 5 $495,000 $99,000
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 2 $490,000 $245,000
MACON-BIBB COUNTY, GA 3 $485,000 $161,667
SALINAS, CA 1 $485,000 $485,000
COLUMBIA, MO 3 $475,000 $158,333
RAPID CITY, SD 1 $475,000 $475,000
SANTA ROSA-PETALUMA, CA 1 $465,000 $465,000
FLORENCE-MUSCLE SHOALS, AL 3 $455,000 $151,667
VICTORIA, TX 2 $450,000 $225,000
WATERLOO-CEDAR FALLS, IA 3 $445,000 $148,333
COLUMBUS, IN 4 $440,000 $110,000
HAMMOND, LA 2 $440,000 $220,000
TEXARKANA, TX-AR 3 $435,000 $145,000
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 1 $435,000 $435,000
ELGIN, IL 2 $420,000 $210,000
DALTON, GA 2 $410,000 $205,000
DULUTH, MN-WI 2 $410,000 $205,000
HILTON HEAD ISLAND-BLUFFTON, SC 2 $410,000 $205,000
NAPA, CA 1 $405,000 $405,000
WILMINGTON, DE-MD-NJ 2 $400,000 $200,000
AUBURN-OPELIKA, AL 2 $400,000 $200,000
DAPHNE-FAIRHOPE-FOLEY, AL 3 $395,000 $131,667
LEWISTON, ID-WA 2 $390,000 $195,000
HUNTINGTON-ASHLAND, WV-KY-OH 2 $370,000 $185,000
MERCED, CA 1 $365,000 $365,000
PANAMA CITY, FL 3 $365,000 $121,667
GOLDSBORO, NC 2 $360,000 $180,000
PINE BLUFF, AR 1 $355,000 $355,000
HOT SPRINGS, AR 3 $355,000 $118,333
MICHIGAN CITY-LA PORTE, IN 1 $355,000 $355,000
SUMTER, SC 2 $340,000 $170,000
SPRINGFIELD, MA 2 $340,000 $170,000
MISSOULA, MT 1 $335,000 $335,000
CASPER, WY 2 $330,000 $165,000
MADISON, WI 2 $330,000 $165,000
FORT SMITH, AR-OK 2 $320,000 $160,000
MANKATO, MN 3 $315,000 $105,000
APPLETON, WI 2 $310,000 $155,000
PUNTA GORDA, FL 2 $310,000 $155,000
OSHKOSH-NEENAH, WI 2 $310,000 $155,000
PEORIA, IL 2 $300,000 $150,000
STATE COLLEGE, PA 1 $295,000 $295,000
SPRINGFIELD, IL 3 $295,000 $98,333
EL CENTRO, CA 1 $295,000 $295,000
ROCKY MOUNT, NC 3 $285,000 $95,000
VALDOSTA, GA 2 $280,000 $140,000
BATTLE CREEK, MI 3 $275,000 $91,667
POCATELLO, ID 2 $270,000 $135,000
TRENTON-PRINCETON, NJ 1 $255,000 $255,000
HOUMA-THIBODAUX, LA 2 $250,000 $125,000
PORTLAND-SOUTH PORTLAND, ME 1 $245,000 $245,000
TUSCALOOSA, AL 1 $225,000 $225,000
SIOUX FALLS, SD 1 $215,000 $215,000
NEW HAVEN-MILFORD, CT 1 $215,000 $215,000
SANTA FE, NM 1 $205,000 $205,000
EAU CLAIRE, WI 1 $195,000 $195,000
MUNCIE, IN 2 $190,000 $95,000
GULFPORT-BILOXI, MS 1 $185,000 $185,000
FLORENCE, SC 1 $185,000 $185,000
LONGVIEW, WA 1 $175,000 $175,000
VINELAND-BRIDGETON, NJ 1 $175,000 $175,000
ROCKFORD, IL 1 $175,000 $175,000
JONESBORO, AR 1 $165,000 $165,000
ALTOONA, PA 1 $155,000 $155,000
HANFORD-CORCORAN, CA 1 $155,000 $155,000
LAFAYETTE, LA 1 $155,000 $155,000
BRUNSWICK, GA 1 $155,000 $155,000
ROCHESTER, MN 1 $145,000 $145,000
GADSDEN, AL 1 $135,000 $135,000
SEBRING-AVON PARK, FL 1 $135,000 $135,000
JANESVILLE-BELOIT, WI 1 $135,000 $135,000
MANSFIELD, OH 1 $125,000 $125,000
BELLINGHAM, WA 1 $125,000 $125,000
ROME, GA 1 $125,000 $125,000
ENID, OK 1 $115,000 $115,000
WEIRTON-STEUBENVILLE, WV-OH 1 $115,000 $115,000
CHAMPAIGN-URBANA, IL 1 $105,000 $105,000
MORRISTOWN, TN 1 $105,000 $105,000
CAPE GIRARDEAU, MO-IL 1 $105,000 $105,000
FOND DU LAC, WI 1 $105,000 $105,000
LAWRENCE, KS 1 $95,000 $95,000
KOKOMO, IN 1 $95,000 $95,000
TERRE HAUTE, IN 1 $85,000 $85,000
MIDLAND, MI 1 $85,000 $85,000
OCEAN CITY, NJ 1 $85,000 $85,000
ST. CLOUD, MN 1 $85,000 $85,000
MANHATTAN, KS 1 $85,000 $85,000
JEFFERSON CITY, MO 1 $75,000 $75,000
JOHNSTOWN, PA 1 $65,000 $65,000
AMES, IA 1 $65,000 $65,000
ERIE, PA 1 $55,000 $55,000
LA CROSSE-ONALASKA, WI-MN 1 $55,000 $55,000
GRAND FORKS, ND-MN 1 $45,000 $45,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
<2.5% 37 $1,675,000 $45,270
2.5-3% 91 $26,735,000 $293,791
3-4% 4,496 $1,166,490,000 $259,451
4-5% 3,550 $840,960,000 $236,890
5-6% 498 $102,230,000 $205,281
6-7% 20 $4,170,000 $208,500
Over 8% 1 $375,000 $375,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 608 $43,910,000 $72,220
$100k-200k 3,012 $463,380,000 $153,845
$200k-400k 4,101 $1,137,975,000 $277,487
$400k-600k 817 $380,665,000 $465,930
$600k-1000k 142 $100,490,000 $707,676
$Over $1MM 13 $16,215,000 $1,247,308

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
20-40% 209 $29,075,000 $139,115
40-60% 749 $153,605,000 $205,080
60-80% 2,709 $671,195,000 $247,765
80-100% 4,726 $1,211,910,000 $256,435
Over 100% 134 $45,630,000 $340,522
Under 20% 65 $2,595,000 $39,923

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 1,905 $555,245,000 $291,467
$150k-250k 893 $328,915,000 $368,326
$50k-75k 2,355 $465,525,000 $197,675
$50k-or less 1,390 $211,260,000 $151,986
$75k-100k 1,852 $449,580,000 $242,754
$Over $250k 239 $114,715,000 $479,979

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 7,294 $1,803,050,000 $247,196
Not provided 842 $197,880,000 $235,012
Black 373 $89,205,000 $239,155
Asian 142 $41,340,000 $291,127
American Indian 25 $6,915,000 $276,600
Native Hawaiian 14 $3,640,000 $260,000
Asian Indian 2 $480,000 $240,000
Other Pacific Islander 1 $125,000 $125,000

Approval Rates

Total approvals of all applications
96.44%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
64.09%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
NA 8,693 $2,142,635,000 $246,478

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 487 $120,795,000 $248,039
$1k-2k 6,634 $1,585,400,000 $238,981
$2k-3k 690 $166,130,000 $240,768
$3k-4k 591 $163,965,000 $277,437
$5k+ 277 $105,915,000 $382,365

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Single Family (1-4 Units):Manufactured 28 $5,020,000 $179,286
Single Family (1-4 Units):Site-Built 8,665 $2,137,615,000 $246,695