Open Mortgage Rates, Fees & Info
AUSTIN, TXLEI: 549300CR5XDK0TP7I727
Tax ID: 83-0345906
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Mortgage Data
Review & Overview
Open Mortgage is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Open Mortgage has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Los Angeles, Riverside, Dallas, Kansas City, and Tampa among others. We have data for 174 markets. (Some data included below & more in-depth data is available with an active subscription.)Open Mortgage has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Open 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 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.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.41% | 4/5/25 |
| 30 Year Conventional Refi | 7.17% | 4/5/25 |
| 30 Year Cash-out Refi | 7.84% | 4/5/25 |
| 30 Year FHA Purchase | 7.75% | 4/5/25 |
| 30 Year FHA Refi | 7.18% | 4/5/25 |
| 30 Year VA Purchase | 6.65% | 4/5/25 |
| 30 Year VA Refi | 6.37% | 4/5/25 |
| 30 Year USDA Purchase | 7.23% | 4/5/25 |
| 15 Year Conventional Purchase | 6.53% | 4/5/25 |
| 15 Year Conventional Refi | 5.84% | 4/5/25 |
| 15 Year Cash-out Refi | 5.84% | 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. | ||
Open Mortgage Mortgage Calculator
Your Estimates
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This is not an official calculator from Open 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
1,417Origination Dollar Volume (All Markets)
$470,525,000Awards
OPEN MORTGAGE - 2024
OPEN MORTGAGE is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Open Mortgage's average 30 year fixed mortgage rate was
6.84%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.29%.
Relative Fees (Closing Costs)
Open Mortgage's average total fees/closing costs for a 30 year fixed rate
mortgage were $13,650.
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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 146 | $94,280,000 | $645,753 | $27,345 | 7.02% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 126 | $62,480,000 | $495,873 | $23,619 | 6.82% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 92 | $32,880,000 | $357,391 | $12,291 | 6.84% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 62 | $19,660,000 | $317,097 | $8,325 | 7.04% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 61 | $17,025,000 | $279,098 | $9,264 | 5.90% |
| WICHITA, KS (FHA|USDA|VA) | 69 | $14,155,000 | $205,145 | $4,443 | 6.93% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 45 | $13,905,000 | $309,000 | $8,425 | 7.08% |
| Outside of Metro Areas | 80 | $13,630,000 | $170,375 | $7,680 | 6.94% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 20 | $11,970,000 | $598,500 | $22,390 | 6.94% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 65 | $11,815,000 | $181,769 | $6,629 | 6.79% |
| JACKSON, MS (FHA|USDA|VA) | 56 | $9,150,000 | $163,393 | $5,473 | 6.09% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 27 | $7,845,000 | $290,556 | $12,687 | 7.02% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 10 | $7,640,000 | $764,000 | $28,546 | 7.47% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 25 | $7,575,000 | $303,000 | $13,310 | 7.30% |
| TULSA, OK (FHA|USDA|VA) | 30 | $6,680,000 | $222,667 | $9,080 | 6.76% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 17 | $5,915,000 | $347,941 | $11,057 | 7.43% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 23 | $5,905,000 | $256,739 | $11,315 | 7.37% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 8 | $5,460,000 | $682,500 | $29,511 | 6.59% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 7 | $4,415,000 | $630,714 | $26,697 | 8.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 23 | $4,405,000 | $191,522 | $7,046 | 7.25% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 16 | $4,080,000 | $255,000 | $11,166 | 6.78% |
| RAPID CITY, SD (FHA|USDA|VA) | 13 | $3,615,000 | $278,077 | $7,977 | 6.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 6 | $3,450,000 | $575,000 | $15,432 | 6.73% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 11 | $3,285,000 | $298,636 | $11,916 | 7.08% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 10 | $3,220,000 | $322,000 | $11,478 | 7.40% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 8 | $3,120,000 | $390,000 | $8,502 | 7.48% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 13 | $2,795,000 | $215,000 | $6,728 | 6.94% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 4 | $2,690,000 | $672,500 | $33,229 | 6.94% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 8 | $2,650,000 | $331,250 | $17,336 | 7.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 8 | $2,600,000 | $325,000 | $14,573 | 8.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 6 | $2,580,000 | $430,000 | $17,036 | 6.35% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 7 | $2,485,000 | $355,000 | $16,231 | 7.94% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 3 | $2,425,000 | $808,333 | $30,658 | 8.04% |
| Hutchinson, KS (FHA|USDA|VA) | 16 | $2,370,000 | $148,125 | $5,616 | 6.95% |
| Tahlequah, OK (FHA|USDA|VA) | 12 | $2,270,000 | $189,167 | $9,168 | 6.83% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 5 | $2,255,000 | $451,000 | $22,631 | 6.78% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 7 | $2,065,000 | $295,000 | $9,646 | 7.14% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 4 | $2,050,000 | $512,500 | $6,263 | 6.75% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 9 | $1,695,000 | $188,333 | $7,162 | 6.44% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 5 | $1,685,000 | $337,000 | $15,420 | 7.17% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 7 | $1,625,000 | $232,143 | $7,955 | 6.29% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 9 | $1,585,000 | $176,111 | $7,032 | 7.22% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 5 | $1,425,000 | $285,000 | $10,270 | 6.80% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 9 | $1,385,000 | $153,889 | $6,208 | 7.19% |
| RENO, NV (FHA|USDA|VA) | 3 | $1,195,000 | $398,333 | $6,005 | 7.37% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $1,155,000 | $1,155,000 | $0 | 8.62% |
| FRESNO, CA (FHA|USDA|VA) | 3 | $1,135,000 | $378,333 | $20,932 | 6.75% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $995,000 | $331,667 | $14,238 | 7.21% |
| BATON ROUGE, LA (FHA|USDA|VA) | 2 | $970,000 | $485,000 | $22,368 | 6.19% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 4 | $960,000 | $240,000 | $7,350 | 8.34% |
| MOBILE, AL (FHA|USDA|VA) | 4 | $930,000 | $232,500 | $8,740 | 6.87% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $915,000 | $915,000 | $29,996 | 8.12% |
| VISALIA, CA (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $15,336 | 7.25% |
| SPARTANBURG, SC (FHA|USDA|VA) | 4 | $860,000 | $215,000 | $7,008 | 6.75% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $9,906 | 5.75% |
| Bartlesville, OK (FHA|USDA|VA) | 4 | $750,000 | $187,500 | $7,010 | 6.37% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $9,887 | 4.79% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $11,310 | 6.62% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $16,184 | 6.38% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 4 | $670,000 | $167,500 | $8,766 | 7.87% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $12,388 | 6.56% |
| KOKOMO, IN (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $8,884 | 6.94% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $28,559 | 8.38% |
| HATTIESBURG, MS (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $8,583 | 6.87% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $9,924 | 8.04% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $15,564 | 5.56% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $13,791 | 6.06% |
| McAlester, OK (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $7,482 | 6.67% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $8,858 | 7.50% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $13,919 | 7.19% |
| London, KY (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $6,811 | 7.79% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $12,860 | 5.81% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $6,694 | 8.63% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $10,331 | 7.69% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $7,069 | 7.56% |
| Wilson, NC (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $17,980 | 6.94% |
| Brownwood, TX (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $3,321 | 4.75% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $5,752 | 6.63% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $11,548 | 6.44% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $15,067 | 7.63% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $0 | 9.25% |
| Winfield, KS (FHA|USDA|VA) | 4 | $470,000 | $117,500 | $4,755 | 6.65% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 4 | $470,000 | $117,500 | $3,864 | 8.87% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $9,736 | 6.88% |
| MERCED, CA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $9,839 | 7.99% |
| Riverton, WY (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $6,176 | 7.25% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $11,850 | 8.25% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $10,598 | 5.63% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $18,282 | 5.75% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $4,019 | 7.50% |
| Muskogee, OK (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $6,423 | 6.42% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $5,339 | 6.38% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $13,040 | 3.56% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $7,132 | 6.56% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $14,775 | 7.63% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $18,380 | 5.63% |
| Albemarle, NC (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $13,893 | 6.62% |
| Oxford, MS (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $10,019 | 7.13% |
| Dickinson, ND (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $5,785 | 7.13% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $13,692 | 7.19% |
| Shelbyville, TN (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $9,210 | 6.62% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $14,495 | 5.50% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $19,300 | 7.75% |
| Laramie, WY (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $3,819 | 6.06% |
| STAUNTON, VA (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $9,643 | 8.13% |
| Key West, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 7.63% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $17,196 | 8.88% |
| REDDING, CA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $11,161 | 5.75% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,482 | 6.75% |
| MUNCIE, IN (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $4,160 | 7.69% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $17,125 | 5.99% |
| Williston, ND (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $5,968 | 6.88% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $19,796 | 7.75% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $14,891 | 6.25% |
| DECATUR, AL (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $6,735 | 7.75% |
| SALEM, OR (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $16,104 | 6.13% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $13,980 | 5.75% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $10,177 | 5.93% |
| Ponca City, OK (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $3,136 | 6.25% |
| CHICO, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $20,245 | 6.25% |
| Mineral Wells, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $8,432 | 6.63% |
| MEDFORD, OR (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $18,495 | 6.50% |
| CHEYENNE, WY (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 6.50% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $14,448 | 6.49% |
| Salina, KS (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $8,984 | 7.50% |
| Vicksburg, MS (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $6,607 | 8.50% |
| IOWA CITY, IA (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $6,586 | 7.38% |
| LAWRENCE, KS (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,552 | 7.13% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $15,158 | 6.25% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $8,770 | 8.50% |
| ABILENE, TX (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $4,653 | 7.06% |
| EL PASO, TX (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $5,726 | 8.33% |
| Sanford, NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $13,907 | 6.25% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $150 | 7.25% |
| Logansport, IN (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $4,678 | 7.25% |
| Uvalde, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $15,271 | 5.88% |
| PANAMA CITY, FL (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $5,679 | 8.12% |
| Kerrville, TX (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $7,421 | 8.25% |
| SANTA FE, NM (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 7.88% |
| Vernal, UT (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $9,132 | 8.37% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $6,596 | 7.99% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 8.38% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,676 | 5.75% |
| VALDOSTA, GA (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $6,419 | 7.88% |
| Centralia, WA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $8,607 | 5.75% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 7.25% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $10,944 | 6.75% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $7,139 | 7.88% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $10,464 | 9.25% |
| Moberly, MO (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $12,614 | 7.13% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $4,222 | 8.75% |
| McPherson, KS (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $8,941 | 6.63% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $12,046 | 7.50% |
| Alexander City, AL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,777 | 5.88% |
| HINESVILLE, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,968 | 7.13% |
| Poplar Bluff, MO (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,783 | 7.00% |
| Gaffney, SC (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $3,858 | 8.38% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $3,226 | 8.99% |
| New Castle, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,439 | 7.50% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $8,470 | 6.38% |
| Shawnee, OK (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $8,113 | 7.13% |
| KANKAKEE, IL (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $5,228 | 8.38% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,609 | 7.38% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,272 | 6.63% |
| Greenwood, SC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,397 | 7.00% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $10,257 | 5.88% |
| OCALA, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $8,606 | 6.13% |
| Muscatine, IA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,362 | 6.75% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $7,922 | 6.75% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,516 | 7.63% |
| Altus, OK (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $7,012 | 5.75% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 10.12% |
| Meridian, MS (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $4,013 | 6.49% |
| Jennings, LA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $4,309 | 7.49% |
Similar Lenders
We use machine learning to identify the top lenders compared against OPEN MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2024, Open Mortgage's most frequently originated type of loan was FHA, with 649 originations. Their 2nd most popular type was Conventional, with 602 originations.
Loan Reason
For 2024, Open Mortgage's most frequently cited loan purpose was Home Purchase, with 1,280 originations. The 2nd most popular reason was Cash Out Refi, with 103 originations.
Loan Duration/Length
For 2024, Open Mortgage's most frequently cited loan duration was 30 Year, with 1,323 originations. The 2nd most popular length was 10 Year, with 82 originations.
Origination Fees/Closing Costs
Open Mortgage's average total fees were $13,650, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 608 originations.
Interest Rates
During 2024, Open Mortgage's average interest rate for loans was 6.84%, while their most frequently originated rate bucket for loans was 6-7%, with 668 originations.
Loan Sizing
2024 saw Open Mortgage place emphasis on $200k-400k loans with 558 originations, totaling $161,940,000 in origination value.
Applicant Income
Open Mortgage lent most frequently to those with incomes in the $100k-150k range, with 388 originations. The second most popular income band? $75k-100k, with 285 originations.
Applicant Debt to Income Ratio
Open Mortgage lent most frequently to those with DTI ratios of 50-60%, with 223 originations. The next most common DTI ratio? 30-36%, with 184 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.49%
Open Mortgage has a below average approval rate.
Pick Rate
Approvals leading to origination35.14%
Open 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 |
|---|---|---|---|
| 1377.55 | 1 | $225,000 | $225,000 |
| NA | 1,416 | $470,300,000 | $332,133 |