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

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. They have a low ratio of USDA loans. Their top markets by origination volume include: Washington, Hagerstown, Chambersburg, Gettysburg, and Baltimore 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 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.

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%	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

Purchase Price:

Loan Amount:

Deposit Amount:

% Deposit:

Interest Rate:

Loan Type:

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

175

Origination Dollar Volume (All Markets)

$48,215,000

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)	49	$19,245,000	$392,755	$9,857	4.65%
Outside of Metro Areas	40	$9,970,000	$249,250	$5,955	4.63%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA\|USDA\|VA)	41	$8,555,000	$208,659	$5,688	4.57%
CHAMBERSBURG-WAYNESBORO, PA (FHA\|USDA\|VA)	12	$2,350,000	$195,833	$5,796	4.85%
GETTYSBURG, PA (FHA\|USDA\|VA)	8	$1,610,000	$201,250	$6,214	4.78%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA\|USDA\|VA)	5	$1,565,000	$313,000	$8,841	5.33%
CALIFORNIA-LEXINGTON PARK, MD (FHA\|USDA\|VA)	2	$850,000	$425,000	$16,245	5.94%
Clarksburg, WV (FHA\|USDA\|VA)	2	$770,000	$385,000	$4,974	6.25%
WINCHESTER, VA-WV (FHA\|USDA\|VA)	3	$705,000	$235,000	$8,966	6.13%
YORK-HANOVER, PA (FHA\|USDA\|VA)	3	$685,000	$228,333	$4,574	4.54%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA\|USDA\|VA)	1	$445,000	$445,000	$5,430	4.75%
PITTSBURGH, PA (FHA\|USDA\|VA)	3	$425,000	$141,667	$6,499	4.46%
MORGANTOWN, WV (FHA\|USDA\|VA)	2	$390,000	$195,000	$5,804	4.13%
CUMBERLAND, MD-WV (FHA\|USDA\|VA)	2	$300,000	$150,000	$3,823	3.94%
SCRANTON--WILKES-BARRE, PA (FHA\|USDA\|VA)	1	$225,000	$225,000	$4,177	3.25%
HARRISBURG-CARLISLE, PA (FHA\|USDA\|VA)	1	$125,000	$125,000	$6,647	5.75%

Millennium Financial Group's top markets include Washington, Hagerstown, Chambersburg, Gettysburg, and Baltimore 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: 85

PATRIOT
Similarity Rank: 126

POINT BREEZE
Similarity Rank: 144

FIRST FINANCIAL OF MARYLAND
Similarity Rank: 156

Cedar Point Federal Credit Union
Similarity Rank: 370

ACNB Bank
Similarity Rank: 462

CNB Bank Inc.
Similarity Rank: 629

MEMBERS 1ST FEDERAL CREDIT UNION
Similarity Rank: 1007

IDB Global Federal Credit Union
Similarity Rank: 1133

CORNING
Similarity Rank: 1140

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	127	$33,895,000	$266,890	$5,531	4.68%
FHA	34	$9,480,000	$278,824	$10,930	4.77%
VA	9	$3,855,000	$428,333	$15,353	4.60%
USDA	5	$985,000	$197,000	$7,807	5.20%

For 2022, Millennium Financial Group's most frequently originated type of loan was Conventional, with 127 originations. Their 2nd most popular type was FHA, with 34 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	128	$37,610,000	$293,828	$7,686	4.84%
Cash Out Refi	23	$5,415,000	$235,435	$5,939	4.21%
Refi	19	$4,395,000	$231,316	$5,819	4.28%
Home Improvement	3	$365,000	$121,667	$3,323	5.29%
Other	2	$430,000	$215,000	$5,601	5.00%

For 2022, Millennium Financial Group's most frequently cited loan purpose was Home Purchase, with 128 originations. The 2nd most popular reason was Cash Out Refi, with 23 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	162	$45,810,000	$282,778	$7,458	4.77%
15 Year	9	$1,555,000	$172,778	$3,442	3.81%
10 Year	2	$280,000	$140,000	$3,281	3.69%
20 Year	2	$570,000	$285,000	$4,708	4.19%

For 2022, Millennium Financial Group's most frequently cited loan duration was 30 Year, with 162 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-2k	86	$20,470,000	$238,023
$2k-3k	28	$6,990,000	$249,643
$5k+	25	$10,835,000	$433,400
$3k-4k	20	$5,620,000	$281,000
$4k-5k	11	$2,985,000	$271,364
$<1k	3	$1,025,000	$341,667

Millennium Financial Group's average total fees were $7,458, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 86 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	50	$14,580,000	$291,600
5-6%	48	$14,370,000	$299,375
4-5%	44	$10,420,000	$236,818
6-7%	18	$4,960,000	$275,556
2.5-3%	8	$2,520,000	$315,000
7-8%	5	$1,025,000	$205,000
<2.5%	2	$340,000	$170,000

During 2022, Millennium Financial Group's average interest rate for loans was 4.77%, while their most frequently originated rate bucket for loans was 3-4%, with 50 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	75	$21,395,000	$285,267	$6,842	4.78%
$100k-200k	54	$8,220,000	$152,222	$5,278	4.82%
$400k-600k	25	$12,535,000	$501,400	$13,040	4.54%
$100,000 or less	14	$1,160,000	$82,857	$4,059	4.29%
$600k-1MM	7	$4,905,000	$700,714	$9,968	4.48%

2022 saw Millennium Financial Group place emphasis on $200k-400k loans with 75 originations, totaling $21,395,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	43	$8,945,000	$208,023	$6,443	4.61%
$100k-150k	37	$12,385,000	$334,730	$7,811	4.78%
$75k-100k	32	$8,390,000	$262,188	$7,192	4.88%
$50k or less	26	$3,660,000	$140,769	$5,545	4.55%
$150k-250k	17	$6,375,000	$375,000	$8,409	4.90%
$250k+	16	$7,540,000	$471,250	$9,800	4.52%

Millennium Financial Group lent most frequently to those with incomes in the $50k-75k range, with 43 originations. The second most popular income band? $100k-150k, with 37 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	33	$8,245,000	$249,848	$5,766	4.57%
30-36%	33	$8,795,000	$266,515	$5,741	4.59%
<20%	13	$2,985,000	$229,615	$4,619	4.63%
46%	13	$4,445,000	$341,923	$7,328	4.47%
42%	10	$3,840,000	$384,000	$11,266	4.98%
40%	8	$1,960,000	$245,000	$9,879	4.66%
43%	7	$1,795,000	$256,429	$10,542	5.86%
50-60%	7	$1,865,000	$266,429	$10,278	4.50%
41%	7	$2,395,000	$342,143	$11,635	4.91%
36%	7	$1,695,000	$242,143	$6,361	5.41%
44%	6	$1,720,000	$286,667	$7,653	4.79%
38%	6	$1,150,000	$191,667	$4,501	4.88%
37%	5	$1,505,000	$301,000	$8,304	3.90%
48%	5	$1,875,000	$375,000	$7,715	4.13%
45%	4	$1,120,000	$280,000	$6,288	4.81%
49%	4	$1,210,000	$302,500	$8,711	5.22%
39%	4	$690,000	$172,500	$5,591	4.84%
47%	3	$925,000	$308,333	$6,514	4.46%

Millennium Financial Group lent most frequently to those with DTI ratios of 20-30%, with 33 originations. The next most common DTI ratio? 30-36%, with 33 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	132	$31,370,000	$237,652	$5,858	4.66%
Black	25	$11,295,000	$451,800	$13,572	4.84%
Not provided	17	$5,295,000	$311,471	$8,106	4.85%
American Indian	1	$255,000	$255,000	$3,906	4.25%

Approval Rates

Total approvals of all applications
92.64%

Millennium Financial Group has an average approval rate.

Pick Rate

Approvals leading to origination
79.43%

Millennium Financial Group has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	175	$48,215,000	$275,514

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	175	$48,215,000	$275,514

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	5	$675,000	$135,000	$4,855	4.43%
40-60%	19	$3,405,000	$179,211	$4,305	4.27%
60-80%	54	$14,270,000	$264,259	$6,021	4.45%
80-100%	91	$27,525,000	$302,473	$7,819	4.95%
Over 100%	4	$1,760,000	$440,000	$24,643	5.06%
Under 20%	2	$580,000	$290,000	$4,626	4.56%