Mortgage Unlimited Rates, Fees & Info

Garfield, NJ

LEI: 549300BZNDHH8KWC0I67

Tax ID: 27-4541183

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Mortgage Unlimited is a smaller mortgage company specializing in Refi and Home Purchase loans. Mortgage Unlimited 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: New York, Sacramento, Philadelphia, Hartford, and New Haven among others. We have data for 37 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mortgage Unlimited 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 Unlimited 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.

    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.


    Originations

    982

    Origination Dollar Volume (All Markets)

    $318,620,000
    Show all (6) awards

    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) 611 $218,755,000 $358,028 $6,647 2.98%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 77 $24,495,000 $318,117 $4,306 3.05%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 94 $21,900,000 $232,979 $5,938 3.04%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 51 $11,695,000 $229,314 $5,260 3.01%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 27 $6,075,000 $225,000 $5,242 3.19%
    OCEAN CITY, NJ (FHA|USDA|VA) 11 $3,295,000 $299,545 $5,374 2.94%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 10 $2,780,000 $278,000 $8,056 3.00%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 11 $2,735,000 $248,636 $5,661 2.65%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 7 $2,615,000 $373,571 $5,458 3.27%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 7 $2,525,000 $360,714 $5,871 3.09%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 5 $2,495,000 $499,000 $8,361 3.13%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 7 $1,985,000 $283,571 $4,715 2.91%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 4 $1,710,000 $427,500 $3,639 3.44%
    Torrington, CT (FHA|USDA|VA) 7 $1,555,000 $222,143 $5,339 2.91%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 6 $1,530,000 $255,000 $6,131 2.81%
    Outside of Metro Areas 5 $1,455,000 $291,000 $3,930 3.10%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 4 $1,030,000 $257,500 $4,181 3.47%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 4 $950,000 $237,500 $5,167 3.09%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $850,000 $212,500 $5,257 3.16%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 4 $820,000 $205,000 $3,973 2.78%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $780,000 $390,000 $3,093 3.06%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 2 $750,000 $375,000 $3,385 3.75%
    YUBA CITY, CA (FHA|USDA|VA) 2 $750,000 $375,000 $4,687 3.19%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 2 $550,000 $275,000 $7,888 3.31%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $520,000 $260,000 $6,326 3.38%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $485,000 $485,000 $4,157 2.88%
    KINGSTON, NY (FHA|USDA|VA) 1 $475,000 $475,000 $4,297 2.88%
    FRESNO, CA (FHA|USDA|VA) 2 $460,000 $230,000 $2,936 2.75%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $450,000 $225,000 $3,855 3.19%
    Ukiah, CA (FHA|USDA|VA) 1 $445,000 $445,000 $3,507 2.88%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $380,000 $190,000 $3,722 3.19%
    VISALIA, CA (FHA|USDA|VA) 2 $280,000 $140,000 $3,570 2.69%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $265,000 $265,000 $11,325 2.50%
    STOCKTON, CA (FHA|USDA|VA) 1 $235,000 $235,000 $3,319 3.75%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $225,000 $225,000 $5,600 3.13%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $215,000 $215,000 $3,751 2.75%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $105,000 $105,000 $3,555 3.50%
    Mortgage Unlimited's top markets include New York, Sacramento, Philadelphia, Hartford, and New Haven among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Mortgage Unlimited based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    The First National Bank of Long Island
    Similarity Rank: 134
    North Jersey Federal Credit Union
    Similarity Rank: 247
    Stafford Savings Bank
    Similarity Rank: 266
    HERITAGE COMMUNITY CREDIT UNION
    Similarity Rank: 330
    MUTUAL SECURITY CREDIT UNION
    Similarity Rank: 410
    N C P D Federal Credit Union
    Similarity Rank: 482
    SIKORSKY FINANCIAL
    Similarity Rank: 485
    Collinsville Bank
    Similarity Rank: 490
    MOUNTAIN MORTGAGE CORP.
    Similarity Rank: 538
    First Citizens Community Bank
    Similarity Rank: 589

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 805 $262,475,000 $326,056 $5,197 3.03%
    FHA 145 $46,045,000 $317,552 $11,172 2.96%
    VA 18 $6,960,000 $386,667 $7,229 2.76%
    USDA 12 $2,830,000 $235,833 $5,995 2.51%
    HELOC 2 $310,000 $155,000 n/a 2.88%

    For 2020, Mortgage Unlimited's most frequently originated type of loan was Conventional, with 805 originations. Their 2nd most popular type was FHA, with 145 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 584 $182,720,000 $312,877 $4,851 3.00%
    Home Purchase 396 $135,270,000 $341,591 $8,012 3.01%
    Home Improvement 1 $315,000 $315,000 $11,703 3.00%
    Cash Out Refi 1 $315,000 $315,000 $4,705 3.13%

    For 2020, Mortgage Unlimited's most frequently cited loan purpose was Refi, with 584 originations. The 2nd most popular reason was Home Purchase, with 396 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 807 $268,645,000 $332,893 $6,524 3.06%
    15 Year 98 $27,330,000 $278,878 $4,184 2.64%
    20 Year 56 $16,550,000 $295,536 $4,724 3.00%
    Other 15 $4,935,000 $329,000 $4,371 2.94%
    10 Year 6 $1,160,000 $193,333 $3,332 2.35%

    For 2020, Mortgage Unlimited's most frequently cited loan duration was 30 Year, with 807 originations. The 2nd most popular length was 15 Year, with 98 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 728 $236,180,000 $324,423
    $2k-3k 97 $26,925,000 $277,577
    $<1k 49 $17,005,000 $347,041
    $5k+ 44 $18,230,000 $414,318
    $3k-4k 41 $13,395,000 $326,707
    $4k-5k 19 $5,995,000 $315,526

    Mortgage Unlimited's average total fees were $6,524, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 728 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 466 $153,360,000 $329,099
    3-4% 374 $120,730,000 $322,807
    <2.5% 128 $41,280,000 $322,500
    4-5% 14 $3,250,000 $232,143

    During 2020, Mortgage Unlimited's average interest rate for loans was 3.06%, while their most frequently originated rate bucket for loans was 2.5-3%, with 466 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 567 $168,235,000 $296,711 $5,788 2.99%
    $400k-600k 221 $104,075,000 $470,928 $7,536 2.97%
    $100k-200k 150 $23,900,000 $159,333 $4,836 3.10%
    $600k-1MM 30 $20,080,000 $669,333 $9,688 3.10%
    $100,000 or less 13 $1,165,000 $89,615 $4,077 3.15%
    $1MM+ 1 $1,165,000 $1,165,000 $4,025 2.63%

    2020 saw Mortgage Unlimited place emphasis on $200k-400k loans with 567 originations, totaling $168,235,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 311 $107,655,000 $346,158 $6,238 3.04%
    $150k-250k 215 $81,345,000 $378,349 $6,033 2.99%
    $75k-100k 179 $53,535,000 $299,078 $6,484 2.96%
    $50k-75k 137 $31,315,000 $228,577 $6,066 3.01%
    $50k or less 69 $14,915,000 $216,159 $5,969 3.04%
    $250k+ 67 $28,335,000 $422,910 $5,434 3.01%

    Mortgage Unlimited lent most frequently to those with incomes in the $100k-150k range, with 311 originations. The second most popular income band? $150k-250k, with 215 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 200 $65,400,000 $327,000 $4,951 2.95%
    30-36% 180 $56,300,000 $312,778 $5,784 3.05%
    <20% 68 $21,460,000 $315,588 $4,826 2.87%
    50-60% 62 $20,260,000 $326,774 $10,911 2.92%
    44% 49 $14,005,000 $285,816 $5,925 3.03%
    38% 38 $12,410,000 $326,579 $5,390 3.06%
    42% 36 $11,560,000 $321,111 $6,551 3.16%
    43% 36 $11,180,000 $310,556 $6,367 3.05%
    41% 33 $10,225,000 $309,848 $6,559 2.93%
    40% 33 $11,725,000 $355,303 $6,322 2.95%
    37% 32 $10,750,000 $335,938 $5,299 3.11%
    39% 30 $10,270,000 $342,333 $6,393 3.07%
    47% 30 $10,330,000 $344,333 $8,844 3.13%
    36% 29 $9,565,000 $329,828 $5,568 2.97%
    46% 26 $8,870,000 $341,154 $6,984 2.97%
    49% 25 $8,045,000 $321,800 $6,590 3.08%
    45% 24 $7,680,000 $320,000 $5,657 3.18%
    48% 23 $8,885,000 $386,304 $6,366 3.08%
    >60% 4 $1,850,000 $462,500 $7,086 2.91%

    Mortgage Unlimited lent most frequently to those with DTI ratios of 20-30%, with 200 originations. The next most common DTI ratio? 30-36%, with 180 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 819 $265,455,000 $324,121 $6,005 3.00%
    Not provided 70 $21,990,000 $314,143 $5,850 3.04%
    Black 55 $17,005,000 $309,182 $8,584 3.18%
    Asian 29 $11,145,000 $384,310 $5,828 2.84%
    Asian Indian 5 $1,715,000 $343,000 $5,566 2.68%
    Other Pacific Islander 2 $580,000 $290,000 $7,471 2.88%
    Filipino 1 $465,000 $465,000 $7,663 2.75%
    American Indian 1 $265,000 $265,000 $3,719 4.50%

    Approval Rates

    Total approvals of all applications
    96.72%

    Mortgage Unlimited has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    80.86%

    Mortgage Unlimited has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 982 $318,620,000 $324,460

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 982 $318,620,000 $324,460

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $7,170,000 $199,167 $4,060 2.82%
    40-60% 128 $36,270,000 $283,359 $4,411 2.88%
    60-80% 414 $138,270,000 $333,986 $5,183 3.05%
    80-100% 399 $135,005,000 $338,358 $7,748 3.02%
    Over 100% 5 $1,905,000 $381,000 $14,611 3.10%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    MORTGAGE UNLIMITED, LLC Conventional home mortgage Closing on a mortgage 1 100.0%