Millennium Financial Group Mortgage Rates, Fees & Info
MIDDLETOWN, MDLEI: 549300CV1BZKP1QUDZ13
Tax ID: 20-0321413
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Mortgage Data
Review & Overview
Millennium Financial Group is a smaller mortgage company specializing in Home Purchase loans. Millennium Financial Group has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Washington, Hagerstown, Baltimore, Cumberland, and Chambersburg among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Millennium Financial Group 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. Millennium Financial Group 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.85% | 11/21/24 |
| 30 Year Conventional Refi | 6.70% | 11/21/24 |
| 30 Year Cash-out Refi | 6.76% | 11/21/24 |
| 30 Year FHA Purchase | 7.48% | 11/21/24 |
| 30 Year FHA Refi | 7.05% | 11/21/24 |
| 30 Year VA Purchase | 6.53% | 11/21/24 |
| 30 Year VA Refi | 6.27% | 11/21/24 |
| 30 Year USDA Purchase | 6.83% | 11/21/24 |
| 15 Year Conventional Purchase | 6.11% | 11/21/24 |
| 15 Year Conventional Refi | 6.35% | 11/21/24 |
| 15 Year Cash-out Refi | 6.35% | 11/21/24 |
| 15 Year FHA Refi | 5.68% | 11/21/24 |
| 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. | ||
Millennium Financial Group Mortgage Calculator
Your Estimates
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This is not an official calculator from Millennium Financial Group. 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
319Origination Dollar Volume (All Markets)
$71,875,000Awards
MILLENNIUM FINANCIAL GROUP - 2018
MILLENNIUM FINANCIAL GROUP is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 85 | $24,885,000 | $292,765 | $6,462 | 4.68% |
| Outside of Metro Areas | 96 | $20,780,000 | $216,458 | $4,560 | 4.82% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 37 | $7,535,000 | $203,649 | $4,966 | 4.82% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 25 | $7,095,000 | $283,800 | $7,014 | 4.70% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 47 | $5,975,000 | $127,128 | $4,492 | 4.75% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 8 | $1,590,000 | $198,750 | $5,597 | 4.53% |
| MORGANTOWN, WV (FHA|USDA|VA) | 5 | $865,000 | $173,000 | $5,263 | 4.78% |
| Somerset, PA (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $4,896 | 4.83% |
| GETTYSBURG, PA (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $5,780 | 4.71% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $8,817 | 5.00% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $5,480 | 4.69% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $7,961 | 4.50% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,181 | 4.75% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 3 | $295,000 | $98,333 | $4,115 | 4.75% |
| Cambridge, MD (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,813 | 5.00% |
| Easton, MD (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,749 | 4.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against MILLENNIUM FINANCIAL GROUP 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 2018, Millennium Financial Group's most frequently originated type of loan was Conventional, with 184 originations. Their 2nd most popular type was FHA, with 70 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 282 | $63,610,000 | $225,567 | $5,398 | 4.77% |
| Refi | 36 | $8,170,000 | $226,944 | $5,291 | 4.61% |
| NA | 1 | $95,000 | $95,000 | $2,815 | 5.38% |
For 2018, Millennium Financial Group's most frequently cited loan purpose was Home Purchase, with 282 originations. The 2nd most popular reason was Refi, with 36 originations.
Loan Duration/Length
For 2018, Millennium Financial Group's most frequently cited loan duration was 30 Year, with 307 originations. The 2nd most popular length was 15 Year, with 9 originations.
Origination Fees/Closing Costs
Millennium Financial Group's average total fees were $5,457, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 140 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 247 | $57,735,000 | $233,745 |
| 5-6% | 49 | $9,615,000 | $196,224 |
| 3-4% | 21 | $4,175,000 | $198,810 |
| 6-7% | 2 | $350,000 | $175,000 |
During 2018, Millennium Financial Group's average interest rate for loans was 4.77%, while their most frequently originated rate bucket for loans was 4-5%, with 247 originations.
Loan Sizing
2018 saw Millennium Financial Group place emphasis on $200k-400k loans with 141 originations, totaling $38,725,000 in origination value.
Applicant Income
Millennium Financial Group lent most frequently to those with incomes in the $50k-75k range, with 88 originations. The second most popular income band? $100k-150k, with 65 originations.
Applicant Debt to Income Ratio
Millennium Financial Group lent most frequently to those with DTI ratios of 30-36%, with 62 originations. The next most common DTI ratio? 20-30%, with 51 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.18%
Millennium Financial Group has an average approval rate.
Pick Rate
Approvals leading to origination83.70%
Millennium Financial Group has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7307.06 | 1 | $405,000 | $405,000 |
| NA | 318 | $71,470,000 | $224,748 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 9 | $1,145,000 | $127,222 |
| Single Family (1-4 Units):Site-Built | 310 | $70,730,000 | $228,161 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MILLENIUM HOME MORTGAGE LLC | FHA mortgage | Closing on a mortgage | 1 | 100.0% |