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

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  • 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, Home Purchase, and Cash Out Refi 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 Pittsburgh among others. We have data for 20 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.85% 11/17/24
    30 Year Conventional Refi 6.70% 11/17/24
    30 Year Cash-out Refi 6.76% 11/17/24
    30 Year FHA Purchase 7.48% 11/17/24
    30 Year FHA Refi 7.05% 11/17/24
    30 Year VA Purchase 6.53% 11/17/24
    30 Year VA Refi 6.27% 11/17/24
    30 Year USDA Purchase 6.83% 11/17/24
    15 Year Conventional Purchase 6.11% 11/17/24
    15 Year Conventional Refi 6.35% 11/17/24
    15 Year Cash-out Refi 6.35% 11/17/24
    15 Year FHA Refi 5.68% 11/17/24
    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

    651

    Origination Dollar Volume (All Markets)

    $170,565,000
    Show all (5) 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) 190 $57,600,000 $303,158 $4,627 2.91%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 205 $46,605,000 $227,341 $3,870 2.85%
    Outside of Metro Areas 130 $35,390,000 $272,231 $4,332 3.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 39 $13,455,000 $345,000 $6,003 2.89%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 34 $6,360,000 $187,059 $4,193 2.82%
    PITTSBURGH, PA (FHA|USDA|VA) 10 $2,450,000 $245,000 $4,721 2.56%
    WINCHESTER, VA-WV (FHA|USDA|VA) 11 $2,345,000 $213,182 $5,918 3.06%
    GETTYSBURG, PA (FHA|USDA|VA) 8 $1,690,000 $211,250 $5,131 3.14%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 8 $1,240,000 $155,000 $3,482 3.03%
    SALISBURY, MD-DE (FHA|USDA|VA) 2 $450,000 $225,000 $3,224 2.75%
    ALTOONA, PA (FHA|USDA|VA) 1 $415,000 $415,000 $4,580 2.88%
    YORK-HANOVER, PA (FHA|USDA|VA) 2 $380,000 $190,000 $3,149 2.81%
    Clarksburg, WV (FHA|USDA|VA) 1 $375,000 $375,000 $3,142 2.63%
    STATE COLLEGE, PA (FHA|USDA|VA) 1 $365,000 $365,000 $10,952 2.75%
    MORGANTOWN, WV (FHA|USDA|VA) 3 $345,000 $115,000 $5,063 3.00%
    Easton, MD (FHA|USDA|VA) 1 $265,000 $265,000 $3,224 3.25%
    LANCASTER, PA (FHA|USDA|VA) 1 $265,000 $265,000 $4,363 2.88%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $245,000 $245,000 $3,247 3.50%
    Somerset, PA (FHA|USDA|VA) 2 $190,000 $95,000 $4,153 2.94%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $135,000 $135,000 $6,254 2.63%
    Millennium Financial Group's top markets include Washington, Hagerstown, Baltimore, Chambersburg, and Pittsburgh 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: 108
    POINT BREEZE
    Similarity Rank: 477
    PATRIOT
    Similarity Rank: 540
    Cedar Point Federal Credit Union
    Similarity Rank: 546
    Securityplus FCU
    Similarity Rank: 736
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 1344
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1680
    MEMBERS 1ST FEDERAL CREDIT UNION
    Similarity Rank: 2080
    Woodsboro Bank
    Similarity Rank: 2455
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 2600

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 534 $139,280,000 $260,824 $3,788 2.91%
    FHA 53 $13,445,000 $253,679 $8,542 2.91%
    VA 37 $12,785,000 $345,541 $6,611 2.85%
    USDA 27 $5,055,000 $187,222 $5,394 2.84%

    For 2021, Millennium Financial Group's most frequently originated type of loan was Conventional, with 534 originations. Their 2nd most popular type was FHA, with 53 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 255 $65,925,000 $258,529 $3,824 2.77%
    Home Purchase 251 $69,955,000 $278,705 $5,329 3.00%
    Cash Out Refi 143 $34,415,000 $240,664 $3,821 2.98%
    Other 2 $270,000 $135,000 $3,229 3.06%

    For 2021, Millennium Financial Group's most frequently cited loan purpose was Refi, with 255 originations. The 2nd most popular reason was Home Purchase, with 251 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 492 $136,630,000 $277,703 $4,734 3.02%
    15 Year 102 $21,190,000 $207,745 $3,475 2.47%
    20 Year 38 $9,550,000 $251,316 $3,255 2.77%
    10 Year 14 $2,170,000 $155,000 $3,149 2.28%
    Other 5 $1,025,000 $205,000 $2,821 2.88%

    For 2021, Millennium Financial Group's most frequently cited loan duration was 30 Year, with 492 originations. The 2nd most popular length was 15 Year, with 102 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 326 $88,230,000 $270,644
    $1k-2k 234 $56,220,000 $240,256
    $2k-3k 53 $14,205,000 $268,019
    $3k-4k 23 $6,555,000 $285,000
    $4k-5k 8 $2,590,000 $323,750
    $5k+ 7 $2,765,000 $395,000

    Millennium Financial Group's average total fees were $4,734, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 326 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 295 $78,515,000 $266,153
    3-4% 205 $57,705,000 $281,488
    <2.5% 142 $32,510,000 $228,944
    4-5% 9 $1,835,000 $203,889

    During 2021, Millennium Financial Group's average interest rate for loans was 3.02%, while their most frequently originated rate bucket for loans was 2.5-3%, with 295 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 309 $86,855,000 $281,084 $4,658 2.92%
    $100k-200k 211 $32,535,000 $154,194 $3,712 2.86%
    $400k-600k 82 $39,700,000 $484,146 $5,191 2.95%
    $100,000 or less 37 $2,925,000 $79,054 $3,313 2.85%
    $600k-1MM 12 $8,550,000 $712,500 $7,912 3.10%

    2021 saw Millennium Financial Group place emphasis on $200k-400k loans with 309 originations, totaling $86,855,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 144 $40,910,000 $284,097 $4,524 2.85%
    $50k-75k 138 $28,380,000 $205,652 $4,714 2.96%
    $75k-100k 113 $27,615,000 $244,381 $4,498 2.94%
    $50k or less 94 $15,320,000 $162,979 $4,085 2.84%
    $150k-250k 93 $31,935,000 $343,387 $4,076 2.93%
    $250k+ 54 $22,880,000 $423,704 $4,385 2.95%

    Millennium Financial Group lent most frequently to those with incomes in the $100k-150k range, with 144 originations. The second most popular income band? $50k-75k, with 138 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 157 $40,925,000 $260,669 $4,001 2.86%
    30-36% 131 $34,635,000 $264,389 $4,315 2.93%
    <20% 57 $13,235,000 $232,193 $3,518 2.75%
    43% 34 $10,110,000 $297,353 $4,554 2.98%
    41% 28 $7,690,000 $274,643 $4,424 2.99%
    39% 27 $6,745,000 $249,815 $4,775 2.94%
    42% 26 $6,190,000 $238,077 $4,589 3.04%
    40% 24 $5,980,000 $249,167 $4,095 3.01%
    38% 23 $6,175,000 $268,478 $5,037 2.99%
    45% 22 $6,150,000 $279,545 $5,212 2.89%
    44% 19 $3,955,000 $208,158 $4,209 3.03%
    49% 16 $5,240,000 $327,500 $5,266 3.09%
    36% 16 $4,240,000 $265,000 $3,783 2.77%
    50-60% 14 $4,460,000 $318,571 $9,152 2.81%
    47% 14 $3,780,000 $270,000 $5,186 2.93%
    48% 11 $3,255,000 $295,909 $5,427 3.00%
    46% 11 $2,655,000 $241,364 $3,745 2.90%
    37% 10 $2,140,000 $214,000 $3,959 2.84%

    Millennium Financial Group lent most frequently to those with DTI ratios of 20-30%, with 157 originations. The next most common DTI ratio? 30-36%, with 131 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 529 $135,065,000 $255,321 $4,156 2.89%
    Black 62 $18,590,000 $299,839 $6,546 2.91%
    Not provided 53 $14,575,000 $275,000 $4,335 3.01%
    American Indian 4 $1,220,000 $305,000 $5,375 3.00%
    Native Hawaiian or Islander 1 $745,000 $745,000 $2,957 2.75%
    Asian 2 $370,000 $185,000 $3,430 2.81%

    Approval Rates

    Total approvals of all applications
    96.40%

    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
    89.86%

    Millennium Financial Group has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 651 $170,565,000 $262,005

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    651 $170,565,000 $262,005

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 43 $8,715,000 $202,674 $3,433 2.63%
    40-60% 88 $20,420,000 $232,045 $3,548 2.82%
    60-80% 261 $70,005,000 $268,218 $3,772 2.92%
    80-100% 240 $66,910,000 $278,792 $5,405 2.98%
    Over 100% 9 $2,865,000 $318,333 $10,395 3.01%
    Under 20% 6 $560,000 $93,333 $2,834 2.33%