Mk Lending Corp. Mortgage Rates, Fees & Info

LOS ANGELES, CA

LEI: 549300CXZHD5OTAISA91

Tax ID: 20-8407655

1 stars - Updated: 3/28/24 - out of 5 stars, based on 22 reviews

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

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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.

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 6.27% 3/28/24
30 Year Conventional Refi 6.27% 3/28/24
30 Year Cash-out Refi 6.27% 3/28/24
30 Year FHA Purchase 6.27% 3/28/24
30 Year FHA Refi 6.27% 3/28/24
15 Year Conventional Purchase 5.68% 3/28/24
15 Year Conventional Refi 5.68% 3/28/24
15 Year Cash-out 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.

Mk Lending Corp. Mortgage Calculator






Your Estimates

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

This is not an official calculator from Mk Lending Corp.. 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

504

Origination Dollar Volume (All Markets)

$272,050,000

Awards

MK LENDING CORP. FHA Loans silver
Show all (1) awards

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%
Mk Lending Corp.'s top markets include Los Angeles, Riverside, San Francisco, San Diego, and Washington among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • 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.

    SAFE 1 CREDIT UNION
    Similarity Rank: 24
    AltaOne Federal Credit Union
    Similarity Rank: 55
    Los Angeles Federal Credit Union
    Similarity Rank: 72
    MISSION
    Similarity Rank: 93
    VALLEY STRONG CREDIT UNION
    Similarity Rank: 136
    LBS FINANCIAL
    Similarity Rank: 258
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 312
    SOUTHLAND CREDIT UNION
    Similarity Rank: 342
    FIRST ENTERTAINMENT
    Similarity Rank: 351

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 392 $219,120,000 $558,980 $14,928 7.16%
    Cash Out Refi 89 $38,915,000 $437,247 $13,070 7.86%
    Refi 23 $14,015,000 $609,348 $14,692 7.11%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 497 $268,965,000 $541,177 $14,627 7.27%
    15 Year 3 $995,000 $331,667 $7,715 7.83%
    30+ year 3 $2,005,000 $668,333 $17,994 8.63%
    20 Year 1 $85,000 $85,000 $6,287 10.88%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 385 $217,795,000 $565,701
    $2k-3k 44 $21,200,000 $481,818
    $4k-5k 33 $13,945,000 $422,576
    $3k-4k 24 $9,330,000 $388,750
    $1k-2k 17 $9,355,000 $550,294
    $<1k 1 $425,000 $425,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 183 $90,945,000 $496,967 $14,032 7.15%
    $600k-1MM 143 $103,825,000 $726,049 $18,019 7.08%
    $200k-400k 121 $37,635,000 $311,033 $10,684 7.29%
    $1MM+ 29 $35,555,000 $1,226,034 $24,366 7.74%
    $100k-200k 26 $3,920,000 $150,769 $7,564 8.58%
    $100,000 or less 2 $170,000 $85,000 $6,084 10.50%

    2023 saw Mk Lending Corp. place emphasis on $400k-600k loans with 183 originations, totaling $90,945,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 147 $85,685,000 $582,891 $15,050 7.21%
    $100k-150k 131 $61,915,000 $472,634 $14,035 6.95%
    $250k+ 124 $90,120,000 $726,774 $17,267 7.69%
    $75k-100k 54 $17,960,000 $332,593 $12,128 7.14%
    $50k-75k 25 $7,025,000 $281,000 $9,751 6.61%
    $50k or less 18 $5,970,000 $331,667 $11,318 8.28%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 51 $27,835,000 $545,784 $14,866 7.20%
    20-30% 46 $23,860,000 $518,696 $13,909 7.50%
    49% 42 $21,260,000 $506,190 $15,150 7.13%
    47% 36 $18,070,000 $501,944 $12,556 7.38%
    50-60% 34 $18,270,000 $537,353 $20,309 6.08%
    48% 31 $16,415,000 $529,516 $13,106 7.29%
    44% 27 $14,775,000 $547,222 $13,386 7.44%
    43% 27 $16,555,000 $613,148 $16,802 7.41%
    46% 26 $13,590,000 $522,692 $17,463 7.13%
    41% 24 $13,450,000 $560,417 $13,270 7.26%
    40% 21 $11,445,000 $545,000 $12,146 7.31%
    38% 20 $11,050,000 $552,500 $15,079 7.48%
    42% 19 $11,405,000 $600,263 $15,949 7.51%
    36% 18 $9,190,000 $510,556 $12,999 6.99%
    45% 17 $9,055,000 $532,647 $13,190 7.05%
    39% 16 $8,680,000 $542,500 $13,213 7.38%
    37% 15 $8,455,000 $563,667 $13,122 7.43%
    <20% 14 $9,410,000 $672,143 $15,898 7.65%
    >60% 2 $880,000 $440,000 $6,178 7.19%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 289 $168,275,000 $582,266 $14,015 7.15%
    White 203 $98,785,000 $486,626 $15,310 7.47%
    Black 10 $4,320,000 $432,000 $16,938 7.54%
    Asian Indian 1 $485,000 $485,000 $17,018 7.38%
    Not provided 1 $185,000 $185,000 $8,183 6.50%

    Approval Rates

    Total approvals of all applications
    99.81%

    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 origination
    94.44%

    Mk Lending Corp. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 504 $272,050,000 $539,782

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    504 $272,050,000 $539,782

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $10,825,000 $349,194 $10,992 7.28%
    40-60% 75 $41,625,000 $555,000 $12,459 7.16%
    60-80% 233 $131,205,000 $563,112 $15,006 7.42%
    80-100% 153 $86,595,000 $565,980 $16,376 6.94%
    Under 20% 12 $1,800,000 $150,000 $6,311 9.85%