Millennium Financial Group Mortgage Rates, Fees & Info

MIDDLETOWN, MD

LEI: 549300CV1BZKP1QUDZ13

Tax ID: 20-0321413

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Millennium Financial Group is a smaller mortgage company specializing in Refi and Home Purchase loans. Millennium Financial Group 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: Washington, Hagerstown, Baltimore, Chambersburg, and Winchester among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Millennium Financial Group has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Millennium Financial Group is typically a low 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.85% 4/21/24
    30 Year Conventional Refi 6.70% 4/21/24
    30 Year Cash-out Refi 6.76% 4/21/24
    30 Year FHA Purchase 7.48% 4/21/24
    30 Year FHA Refi 7.05% 4/21/24
    30 Year VA Purchase 6.53% 4/21/24
    30 Year VA Refi 6.27% 4/21/24
    30 Year USDA Purchase 6.83% 4/21/24
    15 Year Conventional Purchase 6.11% 4/21/24
    15 Year Conventional Refi 6.35% 4/21/24
    15 Year Cash-out Refi 6.35% 4/21/24
    15 Year FHA Refi 5.68% 4/21/24
    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

    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

    796

    Origination Dollar Volume (All Markets)

    $207,790,000

    Awards

    MILLENNIUM FINANCIAL GROUP 30 Year Conventional Loans silver MILLENNIUM FINANCIAL GROUP 30 Year Conventional Loans bronze MILLENNIUM FINANCIAL GROUP 30 Year Conventional Loans bronze
    Show all (3) 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) 278 $83,000,000 $298,561 $4,468 2.97%
    Outside of Metro Areas 177 $43,875,000 $247,881 $4,102 3.14%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 186 $42,890,000 $230,591 $4,011 3.08%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 65 $20,095,000 $309,154 $4,267 3.02%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 25 $4,595,000 $183,800 $4,172 3.02%
    WINCHESTER, VA-WV (FHA|USDA|VA) 14 $3,250,000 $232,143 $4,907 3.17%
    PITTSBURGH, PA (FHA|USDA|VA) 9 $2,525,000 $280,556 $4,398 2.74%
    GETTYSBURG, PA (FHA|USDA|VA) 8 $1,480,000 $185,000 $4,217 3.00%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 12 $1,360,000 $113,333 $3,560 2.98%
    SALISBURY, MD-DE (FHA|USDA|VA) 5 $1,055,000 $211,000 $2,877 3.28%
    MORGANTOWN, WV (FHA|USDA|VA) 6 $770,000 $128,333 $4,019 3.08%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 2 $610,000 $305,000 $4,283 3.38%
    LANCASTER, PA (FHA|USDA|VA) 2 $600,000 $300,000 $4,228 2.81%
    ALTOONA, PA (FHA|USDA|VA) 1 $495,000 $495,000 $5,933 2.75%
    YORK-HANOVER, PA (FHA|USDA|VA) 2 $430,000 $215,000 $8,200 3.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $320,000 $160,000 $3,541 3.38%
    STAUNTON, VA (FHA|USDA|VA) 1 $235,000 $235,000 $3,209 3.25%
    Cambridge, MD (FHA|USDA|VA) 1 $205,000 $205,000 $4,805 3.13%
    Millennium Financial Group's top markets include Washington, Hagerstown, Baltimore, Chambersburg, and Winchester among others.

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

    Farmers and Merchants Trust Company of Chambersburg
    Similarity Rank: 54
    The Glen Burnie Mutual Savings Bank
    Similarity Rank: 271
    PATRIOT
    Similarity Rank: 748
    CORNING
    Similarity Rank: 1071
    Poli Mortgage Group, Inc.
    Similarity Rank: 1100
    APL
    Similarity Rank: 1122
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 1296
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION
    Similarity Rank: 1465
    POINT BREEZE
    Similarity Rank: 1506
    MEMBERS 1ST FEDERAL CREDIT UNION
    Similarity Rank: 1739

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 657 $174,505,000 $265,609 $3,682 3.02%
    FHA 66 $16,050,000 $243,182 $8,196 3.24%
    USDA 40 $6,930,000 $173,250 $5,230 3.09%
    VA 33 $10,305,000 $312,273 $6,178 3.14%

    For 2020, Millennium Financial Group's most frequently originated type of loan was Conventional, with 657 originations. Their 2nd most popular type was FHA, with 66 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 357 $97,825,000 $274,020 $3,574 2.88%
    Home Purchase 329 $83,975,000 $255,243 $4,998 3.18%
    Cash Out Refi 110 $25,990,000 $236,273 $4,132 3.19%

    For 2020, Millennium Financial Group's most frequently cited loan purpose was Refi, with 357 originations. The 2nd most popular reason was Home Purchase, with 329 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 629 $165,745,000 $263,506 $4,506 3.13%
    15 Year 121 $29,335,000 $242,438 $3,187 2.65%
    20 Year 34 $9,360,000 $275,294 $3,337 3.08%
    10 Year 8 $1,790,000 $223,750 $3,340 2.69%
    Other 4 $1,560,000 $390,000 $3,567 2.75%

    For 2020, Millennium Financial Group's most frequently cited loan duration was 30 Year, with 629 originations. The 2nd most popular length was 15 Year, with 121 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 450 $118,460,000 $263,244
    $1k-2k 247 $59,865,000 $242,368
    $2k-3k 50 $13,240,000 $264,800
    $3k-4k 22 $6,720,000 $305,455
    $5k+ 13 $5,455,000 $419,615
    $4k-5k 12 $3,820,000 $318,333

    Millennium Financial Group's average total fees were $4,506, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 450 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 377 $100,355,000 $266,194
    3-4% 291 $73,235,000 $251,667
    <2.5% 103 $28,145,000 $273,252
    4-5% 22 $4,650,000 $211,364
    5-6% 3 $1,405,000 $468,333

    During 2020, Millennium Financial Group's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 2.5-3%, with 377 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 415 $117,815,000 $283,892 $4,359 3.00%
    $100k-200k 211 $32,205,000 $152,630 $3,762 3.12%
    $400k-600k 102 $47,180,000 $462,549 $5,200 2.94%
    $100,000 or less 60 $4,830,000 $80,500 $3,113 3.21%
    $600k-1MM 7 $4,565,000 $652,143 $4,409 3.39%
    $1MM+ 1 $1,195,000 $1,195,000 $21,488 5.25%

    2020 saw Millennium Financial Group place emphasis on $200k-400k loans with 415 originations, totaling $117,815,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 188 $54,960,000 $292,340 $4,236 3.02%
    $50k-75k 169 $32,705,000 $193,521 $4,179 3.11%
    $150k-250k 147 $46,085,000 $313,503 $3,878 2.97%
    $75k-100k 123 $32,445,000 $263,780 $4,790 3.05%
    $50k or less 103 $17,035,000 $165,388 $4,077 3.15%
    $250k+ 65 $24,035,000 $369,769 $4,461 2.96%

    Millennium Financial Group lent most frequently to those with incomes in the $100k-150k range, with 188 originations. The second most popular income band? $50k-75k, with 169 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 194 $50,190,000 $258,711 $3,688 2.96%
    30-36% 171 $45,615,000 $266,754 $4,231 3.11%
    <20% 82 $20,440,000 $249,268 $3,324 2.80%
    39% 32 $9,140,000 $285,625 $4,405 3.16%
    42% 28 $7,040,000 $251,429 $4,729 3.01%
    38% 27 $6,535,000 $242,037 $4,130 3.16%
    41% 27 $7,195,000 $266,481 $5,196 3.19%
    44% 27 $7,895,000 $292,407 $5,690 3.21%
    40% 25 $5,415,000 $216,600 $4,159 3.13%
    37% 24 $6,490,000 $270,417 $4,560 3.25%
    47% 23 $5,675,000 $246,739 $4,668 2.95%
    43% 22 $5,760,000 $261,818 $5,050 3.13%
    48% 21 $5,035,000 $239,762 $4,292 3.30%
    45% 19 $4,345,000 $228,684 $4,820 3.09%
    46% 17 $4,175,000 $245,588 $3,880 3.07%
    36% 17 $4,285,000 $252,059 $4,462 3.10%
    49% 12 $2,610,000 $217,500 $4,492 2.95%
    50-60% 10 $4,010,000 $401,000 $9,529 3.31%

    Millennium Financial Group lent most frequently to those with DTI ratios of 20-30%, with 194 originations. The next most common DTI ratio? 30-36%, with 171 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 627 $160,125,000 $255,383 $3,998 3.05%
    Black 83 $23,615,000 $284,518 $5,966 3.05%
    Not provided 66 $18,780,000 $284,545 $4,191 2.97%
    Asian 12 $3,320,000 $276,667 $4,940 2.98%
    American Indian 4 $1,150,000 $287,500 $4,207 2.72%
    Other Asian 3 $445,000 $148,333 $3,105 3.50%
    Native Hawaiian or Islander 1 $355,000 $355,000 $9,746 3.13%

    Approval Rates

    Total approvals of all applications
    96.58%

    Millennium Financial Group 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
    90.08%

    Millennium Financial Group has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 796 $207,790,000 $261,043

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $750,000 $125,000
    Single Family (1-4 Units):Site-Built 790 $207,040,000 $262,076

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 30 $4,350,000 $145,000 $3,005 2.80%
    40-60% 111 $24,245,000 $218,423 $3,189 2.80%
    60-80% 306 $82,940,000 $271,046 $3,731 3.01%
    80-100% 340 $93,660,000 $275,471 $4,993 3.17%
    Over 100% 8 $2,550,000 $318,750 $10,959 3.31%
    Under 20% 1 $45,000 $45,000 $2,011 3.38%