Mk Lending Corp. Mortgage Rates, Fees & Info
LOS ANGELES, CALEI: 549300CXZHD5OTAISA91
Tax ID: 20-8407655
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Mortgage Data
Review & Overview
Mk Lending Corp. is a smaller mortgage company specializing in Home Purchase loans. Mk Lending Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Los Angeles, Riverside, San Francisco, San Diego, and Washington among others. We have data for 38 markets. (Some data included below & more in-depth data is available with an active subscription.)Mk Lending Corp. 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. Mk Lending Corp. is typically a high 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 relatively high 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 | 6.27% | 12/16/24 |
| 30 Year Conventional Refi | 6.27% | 12/16/24 |
| 30 Year Cash-out Refi | 6.27% | 12/16/24 |
| 30 Year FHA Purchase | 6.27% | 12/16/24 |
| 30 Year FHA Refi | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 5.68% | 12/16/24 |
| 15 Year Conventional Refi | 5.68% | 12/16/24 |
| 15 Year Cash-out Refi | 5.68% | 12/16/24 |
| 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. | ||
Mk Lending Corp. Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
504Origination Dollar Volume (All Markets)
$272,050,000Awards
MK LENDING CORP. - 2023
MK LENDING CORP. is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Mk Lending Corp.'s average 30 year fixed mortgage rate was
7.27%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.79%.
Relative Fees (Closing Costs)
Mk Lending Corp.'s average total fees/closing costs for a 30 year fixed rate
mortgage were $14,627.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 256 | $156,380,000 | $610,859 | $15,867 | 7.13% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 102 | $42,790,000 | $419,510 | $13,612 | 7.36% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 24 | $15,280,000 | $636,667 | $16,773 | 7.13% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 20 | $11,510,000 | $575,500 | $13,211 | 7.77% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 17 | $9,375,000 | $551,471 | $14,919 | 6.97% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 8 | $5,620,000 | $702,500 | $13,630 | 7.70% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 12 | $5,300,000 | $441,667 | $9,361 | 7.65% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 5 | $2,155,000 | $431,000 | $11,136 | 8.15% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 5 | $1,975,000 | $395,000 | $14,184 | 7.93% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 3 | $1,955,000 | $651,667 | $13,742 | 7.33% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 4 | $1,850,000 | $462,500 | $17,269 | 7.19% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 5 | $1,725,000 | $345,000 | $10,143 | 7.05% |
| SALINAS, CA (FHA|USDA|VA) | 3 | $1,475,000 | $491,667 | $12,513 | 7.58% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 3 | $1,445,000 | $481,667 | $8,937 | 6.79% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $1,105,000 | $1,105,000 | $13,536 | 7.88% |
| FRESNO, CA (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $8,790 | 7.50% |
| STOCKTON, CA (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $9,580 | 9.25% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $22,998 | 6.50% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $900,000 | $450,000 | $12,219 | 8.13% |
| MODESTO, CA (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $13,567 | 7.50% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $13,576 | 7.13% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $8,408 | 8.13% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $9,464 | 7.38% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $14,533 | 7.31% |
| MERCED, CA (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $16,265 | 6.81% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $8,471 | 7.00% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $11,832 | 7.63% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $13,443 | 8.38% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $7,635 | 8.38% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $12,167 | 6.88% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $6,495 | 6.25% |
| MADERA, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,875 | 7.13% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,707 | 7.88% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $11,723 | 7.75% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $8,937 | 10.00% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $10,241 | 9.75% |
| WICHITA FALLS, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $6,895 | 7.38% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $7,486 | 8.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against MK LENDING CORP. 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 449 | $242,885,000 | $540,947 | $13,655 | 7.41% |
| FHA | 54 | $28,390,000 | $525,741 | $22,512 | 6.27% |
| VA | 1 | $775,000 | $775,000 | $6,114 | 6.00% |
For 2023, Mk Lending Corp.'s most frequently originated type of loan was Conventional, with 449 originations. Their 2nd most popular type was FHA, with 54 originations.
Loan Reason
For 2023, Mk Lending Corp.'s most frequently cited loan purpose was Home Purchase, with 392 originations. The 2nd most popular reason was Cash Out Refi, with 89 originations.
Loan Duration/Length
For 2023, Mk Lending Corp.'s most frequently cited loan duration was 30 Year, with 497 originations. The 2nd most popular length was 15 Year, with 3 originations.
Origination Fees/Closing Costs
Mk Lending Corp.'s average total fees were $14,627, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 385 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 168 | $95,810,000 | $570,298 |
| 6-7% | 163 | $87,125,000 | $534,509 |
| Over 8% | 100 | $50,480,000 | $504,800 |
| 5-6% | 72 | $37,870,000 | $525,972 |
| 4-5% | 1 | $765,000 | $765,000 |
During 2023, Mk Lending Corp.'s average interest rate for loans was 7.27%, while their most frequently originated rate bucket for loans was 7-8%, with 168 originations.
Loan Sizing
2023 saw Mk Lending Corp. place emphasis on $400k-600k loans with 183 originations, totaling $90,945,000 in origination value.
Applicant Income
Mk Lending Corp. lent most frequently to those with incomes in the $150k-250k range, with 147 originations. The second most popular income band? $100k-150k, with 131 originations.
Applicant Debt to Income Ratio
Mk Lending Corp. lent most frequently to those with DTI ratios of 30-36%, with 51 originations. The next most common DTI ratio? 20-30%, with 46 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.81%
Mk Lending Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination94.44%
Mk Lending Corp. has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 504 | $272,050,000 | $539,782 |