Bartlett Mortgage Rates, Fees & Info

BARTLETT, TN

LEI: 549300CRSE0TY73U6X46

Tax ID: 62-1160688

5 stars - out of 5 stars, based on 29 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Bartlett Mortgage is a smaller mortgage company specializing in Home Purchase and Refi loans. Bartlett Mortgage 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 Memphis, Nashville, Jackson, Jackson, and Louisville/jefferson County among others. Bartlett Mortgage has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Bartlett Mortgage is typically an average fee lendor.


Originations

864

Origination Dollar Volume (All Markets)

$236,610,000
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Relative Rate

Bartlett Mortgage 's average 30 year fixed rate mortgage of loans were 2.87%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.28%.

Relative Fees

Bartlett Mortgage 's average total fees for a 30 year fixed rate mortgage are $4,453.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 817 $224,045,000 $274,229 $4,252 2.81%
Outside of Metro Areas 12 $2,480,000 $206,667 $2,987 2.89%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 6 $2,080,000 $346,667 $3,716 3.00%
JACKSON, TN (FHA|USDA|VA) 3 $765,000 $255,000 $3,090 3.08%
JACKSON, MS (FHA|USDA|VA) 2 $710,000 $355,000 $3,317 2.50%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 1 $455,000 $455,000 $2,716 2.88%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $445,000 $445,000 $3,028 2.88%
LUBBOCK, TX (FHA|USDA|VA) 1 $445,000 $445,000 $4,599 2.99%
JONESBORO, AR (FHA|USDA|VA) 1 $415,000 $415,000 $3,408 2.13%
Orangeburg, SC (FHA|USDA|VA) 1 $415,000 $415,000 $3,563 2.88%
HOT SPRINGS, AR (FHA|USDA|VA) 2 $370,000 $185,000 $2,599 2.75%
Oxford, MS (FHA|USDA|VA) 2 $370,000 $185,000 $3,928 3.00%
RICHMOND, VA (FHA|USDA|VA) 1 $335,000 $335,000 $3,522 3.13%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $305,000 $305,000 $4,209 2.75%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $305,000 $305,000 $4,110 1.88%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $295,000 $295,000 $2,745 2.38%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $295,000 $295,000 $3,905 3.13%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $295,000 $295,000 $3,106 3.13%
KNOXVILLE, TN (FHA|USDA|VA) 1 $285,000 $285,000 $3,782 2.25%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $235,000 $235,000 $6,477 2.13%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $235,000 $235,000 $2,321 2.50%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $235,000 $235,000 $6,542 2.88%
Morehead City, NC (FHA|USDA|VA) 1 $215,000 $215,000 $3,086 2.88%
PINE BLUFF, AR (FHA|USDA|VA) 1 $185,000 $185,000 $2,867 3.63%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $165,000 $165,000 $2,971 2.99%
Columbus, MS (FHA|USDA|VA) 1 $145,000 $145,000 $4,498 2.50%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $85,000 $85,000 $2,524 2.75%

Bartlett Mortgage 's top markets include Memphis, Nashville, Jackson, Jackson, and Louisville/jefferson County among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 674 $185,220,000 $274,807 $3,329 2.86%
FHA 120 $30,000,000 $250,000 $7,580 2.68%
VA 52 $17,430,000 $335,192 $7,403 2.54%
USDA 18 $3,960,000 $220,000 $5,363 2.65%

For the 2021 period, Bartlett Mortgage 's most frequently originated loan type of loans were Conventional, with 674 originations. Their 2nd most popular type is FHA, with 120 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 556 $160,330,000 $288,363 $4,898 2.87%
Refi 246 $61,530,000 $250,122 $2,919 2.67%
Cash Out Refi 61 $14,675,000 $240,574 $3,133 2.86%
Other 1 $75,000 $75,000 $2,477 2.50%

For the 2021, Bartlett Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 556 originations. The 2nd most popular reason of loans were Refi, with 246 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 721 $200,105,000 $277,538 $4,453 2.87%
15 Year 108 $26,600,000 $246,296 $2,957 2.43%
20 Year 30 $7,930,000 $264,333 $2,809 2.80%
10 Year 4 $820,000 $205,000 $3,563 2.13%
Other 1 $1,155,000 $1,155,000 $6,306 3.75%

For the 2021, Bartlett Mortgage 's most frequently cited loan length of loans were 30 Year, with 721 originations. The 2nd most popular length of loans were 15 Year, with 108 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 810 $222,100,000 $274,198
$1k-2k 44 $11,940,000 $271,364
$2k-3k 7 $1,645,000 $235,000
$3k-4k 2 $590,000 $295,000
$5k+ 1 $335,000 $335,000

$4,453 of loans were Bartlett Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 810 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 472 $130,730,000 $276,970
<2.5% 206 $57,400,000 $278,641
3-4% 183 $48,255,000 $263,689
4-5% 3 $225,000 $75,000

During 2021, Bartlett Mortgage 's average interest rate of loans were 2.87%, while their most frequently originated rate bucket of loans were 2.5-3%, with 472 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 498 $143,190,000 $287,530 $4,521 2.78%
$100k-200k 209 $33,315,000 $159,402 $3,291 2.84%
$400k-600k 117 $55,795,000 $476,880 $4,915 2.78%
$100,000 or less 39 $3,155,000 $80,897 $2,927 3.02%
$1MM+ 1 $1,155,000 $1,155,000 $6,306 3.75%

2021 saw Bartlett Mortgage place emphasis on $200k-400k loans with 498 originations, totaling $143,190,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 211 $65,275,000 $309,360 $4,119 2.83%
$50k-75k 204 $46,770,000 $229,265 $4,497 2.83%
$75k-100k 174 $47,790,000 $274,655 $4,645 2.80%
$150k-250k 131 $42,715,000 $326,069 $3,782 2.76%
$50k or less 102 $17,970,000 $176,176 $3,890 2.83%
$250k+ 37 $14,545,000 $393,108 $3,607 2.79%

Bartlett Mortgage lent most frequently to those with incomes in the $100k-150k range, with 211 originations. The second most popular income band? $50k-75k, with 204 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 217 $59,305,000 $273,295 $3,700 2.79%
30-36% 175 $49,175,000 $281,000 $4,300 2.83%
<20% 102 $24,350,000 $238,725 $3,137 2.75%
38% 48 $11,950,000 $248,958 $4,568 2.81%
37% 33 $8,675,000 $262,879 $4,470 2.87%
39% 32 $9,790,000 $305,938 $5,286 2.91%
42% 30 $9,130,000 $304,333 $4,836 2.95%
40% 28 $8,100,000 $289,286 $4,364 2.99%
41% 28 $7,840,000 $280,000 $4,573 2.88%
43% 28 $7,580,000 $270,714 $5,004 2.72%
36% 22 $6,350,000 $288,636 $3,709 2.82%
45% 22 $6,390,000 $290,455 $4,916 2.86%
44% 20 $5,900,000 $295,000 $4,983 2.80%
46% 18 $4,940,000 $274,444 $4,444 2.74%
49% 17 $5,115,000 $300,882 $5,262 2.76%
47% 15 $3,625,000 $241,667 $5,204 2.80%
50-60% 13 $3,665,000 $281,923 $7,284 2.63%
48% 7 $2,465,000 $352,143 $4,479 2.68%
>60% 2 $380,000 $190,000 $2,987 2.69%

Bartlett Mortgage lent most frequently to those with DTI ratios of 20-30%, with 217 originations. The next most common DTI ratio? 30-36%, with 175 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 472 $121,750,000 $257,945 $3,976 2.82%
Black 178 $49,760,000 $279,551 $5,292 2.86%
Asian 150 $47,280,000 $315,200 $3,786 2.77%
Not provided 42 $10,340,000 $246,190 $4,140 2.73%
Asian Indian 12 $4,360,000 $363,333 $3,509 2.51%
Other Asian 6 $2,410,000 $401,667 $3,490 2.73%
American Indian 3 $575,000 $191,667 $2,933 3.04%
Native Hawaiian 1 $135,000 $135,000 $2,734 2.75%

Approval Rates

Total approvals of all applications
97.69%

Bartlett 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 origination
92.42%

Bartlett Mortgage has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 864 $236,610,000 $273,854

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
864 $236,610,000 $273,854

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 23 $3,245,000 $141,087 $2,578 2.62%
40-60% 86 $17,680,000 $205,581 $2,958 2.71%
60-80% 291 $81,395,000 $279,708 $3,176 2.80%
80-100% 441 $126,645,000 $287,177 $4,828 2.86%
Over 100% 18 $6,700,000 $372,222 $14,207 2.60%