Millennium Financial Group Mortgage Rates, Fees & Info

MIDDLETOWN, MD

LEI: 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.

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 6.85% 3/28/24
30 Year Conventional Refi 6.70% 3/28/24
30 Year Cash-out Refi 6.76% 3/28/24
30 Year FHA Purchase 7.48% 3/28/24
30 Year FHA Refi 7.05% 3/28/24
30 Year VA Purchase 6.53% 3/28/24
30 Year VA Refi 6.27% 3/28/24
30 Year USDA Purchase 6.83% 3/28/24
15 Year Conventional Purchase 6.11% 3/28/24
15 Year Conventional Refi 6.35% 3/28/24
15 Year Cash-out Refi 6.35% 3/28/24
15 Year FHA Refi 5.68% 3/28/24
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

Estimated Loan Payment: Update the calculator values and click calculate payment!

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

319

Origination Dollar Volume (All Markets)

$71,875,000

Awards

MILLENNIUM FINANCIAL GROUP FHA Loans silver
Show all (1) 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
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%
Millennium Financial Group's top markets include Washington, Hagerstown, Baltimore, Cumberland, and Chambersburg among others.

Their top states include:
  • Maryland (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • 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.

    APL
    Similarity Rank: 32
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    FIRST FINANCIAL OF MARYLAND
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    CORNING
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    LIBRARY OF CONGRESS
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 184 $45,670,000 $248,207 $4,462 4.77%
    FHA 70 $14,170,000 $202,429 $7,511 4.77%
    USDA 43 $6,425,000 $149,419 $4,857 4.63%
    VA 22 $5,610,000 $255,000 $7,243 4.79%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 307 $69,955,000 $227,866 $5,457 4.77%
    15 Year 9 $1,405,000 $156,111 $3,405 4.26%
    20 Year 2 $410,000 $205,000 $3,145 4.44%
    Other 1 $105,000 $105,000 $3,490 5.00%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 140 $31,050,000 $221,786
    $1k-2k 119 $23,775,000 $199,790
    $2k-3k 30 $7,650,000 $255,000
    $3k-4k 11 $2,785,000 $253,182
    $5k+ 11 $4,685,000 $425,909
    $4k-5k 8 $1,930,000 $241,250

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 141 $38,725,000 $274,645 $6,054 4.72%
    $100k-200k 113 $16,885,000 $149,425 $4,769 4.74%
    $100,000 or less 39 $2,985,000 $76,538 $3,627 4.89%
    $400k-600k 20 $9,240,000 $462,000 $6,311 4.78%
    $600k-1MM 6 $4,040,000 $673,333 $9,400 4.65%

    2018 saw Millennium Financial Group place emphasis on $200k-400k loans with 141 originations, totaling $38,725,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 88 $16,500,000 $187,500 $5,358 4.77%
    $100k-150k 65 $17,855,000 $274,692 $5,430 4.73%
    $50k or less 64 $8,180,000 $127,813 $4,419 4.72%
    $75k-100k 48 $11,210,000 $233,542 $6,130 4.74%
    $150k-250k 35 $10,205,000 $291,571 $6,001 4.76%
    $250k+ 19 $7,925,000 $417,105 $5,515 4.84%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 62 $13,560,000 $218,710 $4,784 4.77%
    20-30% 51 $11,945,000 $234,216 $5,097 4.73%
    42% 19 $4,305,000 $226,579 $5,907 4.76%
    40% 17 $4,015,000 $236,176 $5,593 4.81%
    50-60% 17 $4,135,000 $243,235 $8,512 4.74%
    38% 15 $3,055,000 $203,667 $4,732 4.88%
    44% 14 $3,100,000 $221,429 $5,045 4.92%
    49% 14 $3,920,000 $280,000 $4,797 4.75%
    <20% 13 $2,315,000 $178,077 $3,952 4.93%
    36% 13 $2,885,000 $221,923 $5,267 4.71%
    37% 13 $2,555,000 $196,538 $5,354 4.47%
    41% 13 $3,315,000 $255,000 $5,574 4.60%
    43% 13 $2,745,000 $211,154 $5,333 4.81%
    45% 10 $1,910,000 $191,000 $5,746 4.86%
    39% 10 $2,080,000 $208,000 $6,095 4.74%
    46% 8 $1,630,000 $203,750 $4,660 4.50%
    48% 7 $1,645,000 $235,000 $5,607 4.88%
    47% 6 $1,360,000 $226,667 $7,196 4.56%
    >60% 2 $910,000 $455,000 $7,603 4.75%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 263 $56,175,000 $213,593 $5,131 4.77%
    Black 28 $8,100,000 $289,286 $7,078 4.66%
    Not provided 19 $5,825,000 $306,579 $6,253 4.64%
    Asian 7 $1,455,000 $207,857 $5,430 4.70%
    American Indian 1 $185,000 $185,000 $6,613 5.13%
    Native Hawaiian or Islander 1 $135,000 $135,000 $4,343 4.00%

    Approval Rates

    Total approvals of all applications
    89.18%

    Millennium Financial Group has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.70%

    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

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $270,000 $135,000 $3,189 4.75%
    40-60% 18 $3,390,000 $188,333 $3,858 4.51%
    60-80% 65 $15,045,000 $231,462 $4,333 4.80%
    80-100% 233 $52,965,000 $227,318 $5,800 4.75%
    Over 100% 1 $205,000 $205,000 $5,813 5.00%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    MILLENIUM HOME MORTGAGE LLC FHA mortgage Closing on a mortgage 1 100.0%