The Equitable Mortgage Corporation Rates, Fees & Info
CLEVELAND, OHLEI: 549300D6BCLQFX6G1K95
Tax ID: 34-1797868
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Mortgage Data
Review & Overview
The Equitable Mortgage Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. The Equitable Mortgage Corporation 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: Columbus, Cape Coral, Cleveland, North Port, and Dayton among others. We have data for 64 markets. (Some data included below & more in-depth data is available with an active subscription.)The Equitable Mortgage Corporation 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. The Equitable Mortgage Corporation 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.60% | 12/16/24 |
| 30 Year Conventional Refi | 6.55% | 12/16/24 |
| 30 Year Cash-out Refi | 6.73% | 12/16/24 |
| 30 Year FHA Purchase | 7.09% | 12/16/24 |
| 30 Year FHA Refi | 7.11% | 12/16/24 |
| 30 Year VA Purchase | 6.08% | 12/16/24 |
| 30 Year USDA Purchase | 6.53% | 12/16/24 |
| 30 Year USDA Refi | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 6.07% | 12/16/24 |
| 15 Year Conventional Refi | 5.84% | 12/16/24 |
| 15 Year Cash-out Refi | 5.84% | 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. | ||
The Equitable Mortgage Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,268Origination Dollar Volume (All Markets)
$305,690,000Awards
THE EQUITABLE MORTGAGE CORPORATION - 2019
THE EQUITABLE MORTGAGE CORPORATION is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| COLUMBUS, OH (FHA|USDA|VA) | 1,002 | $243,990,000 | $243,503 | $3,512 | 3.91% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 34 | $8,340,000 | $245,294 | $4,364 | 3.88% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 19 | $4,635,000 | $243,947 | $3,274 | 3.72% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 12 | $3,520,000 | $293,333 | $4,640 | 3.92% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 17 | $3,505,000 | $206,176 | $3,276 | 3.91% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 14 | $3,200,000 | $228,571 | $4,117 | 3.97% |
| AKRON, OH (FHA|USDA|VA) | 13 | $3,025,000 | $232,692 | $2,651 | 3.72% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 12 | $2,690,000 | $224,167 | $2,759 | 3.82% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 8 | $2,190,000 | $273,750 | $3,719 | 3.73% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 6 | $1,760,000 | $293,333 | $4,612 | 4.00% |
| Marion, OH (FHA|USDA|VA) | 9 | $1,715,000 | $190,556 | $3,668 | 3.99% |
| Mount Vernon, OH (FHA|USDA|VA) | 7 | $1,555,000 | $222,143 | $3,445 | 3.82% |
| Ashland, OH (FHA|USDA|VA) | 7 | $1,535,000 | $219,286 | $2,951 | 3.66% |
| TOLEDO, OH (FHA|USDA|VA) | 6 | $1,500,000 | $250,000 | $3,972 | 4.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 4 | $1,440,000 | $360,000 | $6,294 | 3.94% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 4 | $1,350,000 | $337,500 | $3,488 | 3.88% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $1,210,000 | $302,500 | $4,449 | 3.72% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 5 | $1,185,000 | $237,000 | $4,189 | 3.90% |
| Outside of Metro Areas | 6 | $1,000,000 | $166,667 | $3,507 | 3.98% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $3,009 | 4.31% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $4,086 | 3.75% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 5 | $905,000 | $181,000 | $3,397 | 4.03% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 5 | $835,000 | $167,000 | $4,758 | 3.70% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $2,652 | 3.63% |
| MANSFIELD, OH (FHA|USDA|VA) | 5 | $635,000 | $127,000 | $3,529 | 4.13% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 4 | $610,000 | $152,500 | $1,998 | 3.69% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $3,638 | 3.50% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $3,654 | 4.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $2,493 | 3.81% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $4,172 | 3.63% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $5,529 | 4.00% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $5,986 | 3.81% |
| WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) | 4 | $420,000 | $105,000 | $2,912 | 3.81% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $3,869 | 3.13% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $2,748 | 3.25% |
| Wapakoneta, OH (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,732 | 3.50% |
| Findlay, OH (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $2,566 | 4.38% |
| Athens, OH (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $6,523 | 3.88% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $2,100 | 3.50% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,216 | 3.50% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $3,169 | 3.75% |
| WHEELING, WV-OH (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,598 | 3.75% |
| Bellefontaine, OH (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $3,469 | 4.69% |
| MONROE, MI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,625 | 3.25% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,449 | 4.38% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,020 | 4.38% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,189 | 4.00% |
| Zanesville, OH (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,297 | 3.63% |
| Lewisburg, TN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,665 | 4.75% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,857 | 3.75% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,465 | 4.38% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,790 | 3.75% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,318 | 3.38% |
| Point Pleasant, WV-OH (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,586 | 3.63% |
| Urbana, OH (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $1,795 | 3.38% |
| New Philadelphia-Dover, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,480 | 3.50% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,995 | 3.00% |
| Washington Court House, OH (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,231 | 3.75% |
| Sandusky, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,540 | 3.88% |
| Shelby, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,645 | 4.13% |
| Celina, OH (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,657 | 5.00% |
| Wooster, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,492 | 4.63% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,151 | 4.38% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,877 | 4.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against THE EQUITABLE MORTGAGE CORPORATION 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
For 2019, The Equitable Mortgage Corporation's most frequently originated type of loan was Conventional, with 1,059 originations. Their 2nd most popular type was FHA, with 154 originations.
Loan Reason
For 2019, The Equitable Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 734 originations. The 2nd most popular reason was Refi, with 364 originations.
Loan Duration/Length
For 2019, The Equitable Mortgage Corporation's most frequently cited loan duration was 30 Year, with 1,083 originations. The 2nd most popular length was 15 Year, with 127 originations.
Origination Fees/Closing Costs
The Equitable Mortgage Corporation's average total fees were $3,711, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,117 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 865 | $218,765,000 | $252,908 |
| 4-5% | 356 | $77,380,000 | $217,360 |
| 2.5-3% | 24 | $5,880,000 | $245,000 |
| 5-6% | 22 | $3,520,000 | $160,000 |
| 6-7% | 1 | $145,000 | $145,000 |
During 2019, The Equitable Mortgage Corporation's average interest rate for loans was 3.97%, while their most frequently originated rate bucket for loans was 3-4%, with 865 originations.
Loan Sizing
2019 saw The Equitable Mortgage Corporation place emphasis on $200k-400k loans with 653 originations, totaling $182,475,000 in origination value.
Applicant Income
The Equitable Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 324 originations. The second most popular income band? $50k-75k, with 255 originations.
Applicant Debt to Income Ratio
The Equitable Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 313 originations. The next most common DTI ratio? 30-36%, with 239 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.89%
The Equitable Mortgage Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination83.68%
The Equitable Mortgage Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,268 | $305,690,000 | $241,080 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 7 | $1,145,000 | $163,571 |
| Single Family (1-4 Units):Site-Built | 1,261 | $304,545,000 | $241,511 |