Mlb Residential Lending Mortgage Rates, Fees & Info

SPRINGFIELD, NJ

LEI: 549300DW87L2IZ7ZHF47

Tax ID: 46-2738255

1 stars - Updated: 2/19/24 - out of 5 stars, based on 30 reviews

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

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Mortgage Data

Review & Overview

Mlb Residential Lending is a smaller mortgage company specializing in Home Purchase loans. Mlb Residential Lending has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: New York, Philadelphia, Chicago, Allentown, and Albany among others. We have data for 48 markets. (Some data included below & more in-depth data is available with an active subscription.)

Mlb Residential Lending 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. Mlb Residential Lending 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 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 6.93% 2/19/24
30 Year Conventional Refi 6.83% 2/19/24
30 Year Cash-out Refi 7.07% 2/19/24
30 Year FHA Purchase 7.55% 2/19/24
30 Year FHA Refi 6.95% 2/19/24
30 Year VA Purchase 6.54% 2/19/24
30 Year VA Refi 5.71% 2/19/24
30 Year USDA Purchase 6.72% 2/19/24
30 Year USDA Refi 6.46% 2/19/24
15 Year Conventional Purchase 5.98% 2/19/24
15 Year Conventional Refi 6.67% 2/19/24
15 Year Cash-out Refi 6.67% 2/19/24
15 Year FHA Refi 5.68% 2/19/24
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.

Mlb Residential Lending Mortgage Calculator






Your Estimates

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

This is not an official calculator from Mlb Residential Lending. 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

902

Origination Dollar Volume (All Markets)

$330,150,000

Relative Rate

Mlb Residential Lending's average 30 year fixed mortgage rate was 5.1%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.34%.

Relative Fees (Closing Costs)

Mlb Residential Lending's average total fees/closing costs for a 30 year fixed rate mortgage were $14,798.

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 $4,750.

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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 635 $259,495,000 $408,654 $15,820 5.04%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 51 $13,885,000 $272,255 $12,092 5.43%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 37 $10,015,000 $270,676 $12,846 5.20%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 21 $6,035,000 $287,381 $11,942 5.30%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 19 $4,025,000 $211,842 $11,442 4.38%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 11 $3,665,000 $333,182 $16,014 5.20%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 11 $3,155,000 $286,818 $11,329 5.35%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 11 $3,115,000 $283,182 $11,711 4.73%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 12 $2,790,000 $232,500 $11,301 5.57%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 6 $2,500,000 $416,667 $16,609 5.23%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 6 $2,320,000 $386,667 $18,417 5.52%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 5 $1,545,000 $309,000 $13,687 5.03%
Outside of Metro Areas 6 $1,480,000 $246,667 $9,039 5.10%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 5 $1,415,000 $283,000 $15,217 5.48%
OCALA, FL (FHA|USDA|VA) 5 $1,295,000 $259,000 $13,567 4.08%
EAST STROUDSBURG, PA (FHA|USDA|VA) 5 $1,295,000 $259,000 $13,192 5.88%
PUNTA GORDA, FL (FHA|USDA|VA) 3 $1,065,000 $355,000 $9,994 3.58%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 4 $870,000 $217,500 $8,502 5.75%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $650,000 $325,000 $14,558 4.06%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $645,000 $215,000 $7,306 3.75%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $610,000 $305,000 $11,485 5.25%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 2 $600,000 $300,000 $8,388 6.25%
PANAMA CITY, FL (FHA|USDA|VA) 2 $560,000 $280,000 $8,921 4.38%
DOVER, DE (FHA|USDA|VA) 2 $560,000 $280,000 $9,347 6.25%
Gloversville, NY (FHA|USDA|VA) 3 $555,000 $185,000 $5,936 4.50%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 4 $550,000 $137,500 $8,124 5.31%
KINGSTON, NY (FHA|USDA|VA) 2 $480,000 $240,000 $11,947 5.44%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $460,000 $230,000 $11,038 4.31%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $405,000 $405,000 $11,235 5.25%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 2 $390,000 $195,000 $7,313 4.06%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 3 $365,000 $121,667 $7,073 5.63%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 2 $350,000 $175,000 $10,960 4.44%
Amsterdam, NY (FHA|USDA|VA) 2 $340,000 $170,000 $11,804 4.63%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $335,000 $335,000 $24,719 7.75%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $305,000 $305,000 $13,348 4.13%
READING, PA (FHA|USDA|VA) 1 $245,000 $245,000 $11,560 4.88%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $205,000 $205,000 $8,872 4.88%
BINGHAMTON, NY (FHA|USDA|VA) 1 $195,000 $195,000 $9,716 5.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $195,000 $195,000 $10,060 5.00%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $195,000 $195,000 $11,734 3.50%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $145,000 $145,000 $8,333 3.13%
Plattsburgh, NY (FHA|USDA|VA) 1 $135,000 $135,000 $8,570 3.63%
TYLER, TX (FHA|USDA|VA) 1 $135,000 $135,000 $2,622 5.25%
ROCKFORD, IL (FHA|USDA|VA) 1 $125,000 $125,000 $9,941 4.88%
AKRON, OH (FHA|USDA|VA) 1 $125,000 $125,000 $5,663 4.99%
WILLIAMSPORT, PA (FHA|USDA|VA) 1 $125,000 $125,000 $7,140 6.13%
STATE COLLEGE, PA (FHA|USDA|VA) 1 $105,000 $105,000 $6,605 5.75%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $95,000 $95,000 $6,074 6.88%
Mlb Residential Lending's top markets include New York, Philadelphia, Chicago, Allentown, and Albany among others.

Their top states include:
  • New Jersey (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against MLB RESIDENTIAL LENDING based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    DADE COUNTY FEDERAL CREDIT UNION
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    U S WIDE FINANCIAL LLC
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    CCFCU FUNDING, LLC
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    BHCU
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 473 $167,825,000 $354,810 $11,485 5.09%
    FHA 403 $152,085,000 $377,382 $18,359 5.05%
    VA 23 $9,735,000 $423,261 $12,927 5.17%
    USDA 3 $505,000 $168,333 $7,331 4.29%

    For 2022, Mlb Residential Lending's most frequently originated type of loan was Conventional, with 473 originations. Their 2nd most popular type was FHA, with 403 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 740 $279,640,000 $377,892 $15,240 5.17%
    Cash Out Refi 122 $38,410,000 $314,836 $12,839 4.82%
    Refi 40 $12,100,000 $302,500 $9,876 4.00%

    For 2022, Mlb Residential Lending's most frequently cited loan purpose was Home Purchase, with 740 originations. The 2nd most popular reason was Cash Out Refi, with 122 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 882 $323,640,000 $366,939 $14,798 5.10%
    15 Year 12 $4,150,000 $345,833 $10,832 3.71%
    20 Year 5 $1,185,000 $237,000 $6,469 4.53%
    Other 3 $1,175,000 $391,667 $9,277 4.12%

    For 2022, Mlb Residential Lending's most frequently cited loan duration was 30 Year, with 882 originations. The 2nd most popular length was 15 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 620 $244,720,000 $394,710
    $1k-2k 76 $26,850,000 $353,289
    $3k-4k 69 $21,805,000 $316,014
    $4k-5k 67 $18,305,000 $273,209
    $2k-3k 44 $11,430,000 $259,773
    $<1k 17 $4,065,000 $239,118

    Mlb Residential Lending's average total fees were $14,798, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 620 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 298 $111,850,000 $375,336
    4-5% 225 $80,905,000 $359,578
    3-4% 191 $69,415,000 $363,429
    6-7% 142 $51,570,000 $363,169
    7-8% 28 $10,160,000 $362,857
    2.5-3% 15 $5,345,000 $356,333
    <2.5% 2 $660,000 $330,000
    Over 8% 1 $245,000 $245,000

    During 2022, Mlb Residential Lending's average interest rate for loans was 5.10%, while their most frequently originated rate bucket for loans was 5-6%, with 298 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 449 $136,105,000 $303,129 $12,636 5.05%
    $400k-600k 278 $134,230,000 $482,842 $18,136 5.11%
    $100k-200k 106 $16,420,000 $154,906 $8,154 5.05%
    $600k-1MM 62 $42,840,000 $690,968 $25,314 5.04%
    $100,000 or less 7 $555,000 $79,286 $6,155 5.52%

    2022 saw Mlb Residential Lending place emphasis on $200k-400k loans with 449 originations, totaling $136,105,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 289 $121,055,000 $418,875 $17,417 5.23%
    $75k-100k 224 $75,790,000 $338,348 $14,116 4.94%
    $50k-75k 175 $43,905,000 $250,886 $11,620 4.97%
    $150k-250k 134 $64,150,000 $478,731 $16,324 5.16%
    $50k or less 45 $7,475,000 $166,111 $7,511 4.82%
    $250k+ 21 $12,605,000 $600,238 $17,771 5.31%

    Mlb Residential Lending lent most frequently to those with incomes in the $100k-150k range, with 289 originations. The second most popular income band? $75k-100k, with 224 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 178 $70,880,000 $398,202 $19,190 5.20%
    30-36% 93 $30,845,000 $331,667 $12,613 4.92%
    49% 78 $28,800,000 $369,231 $13,470 5.29%
    20-30% 68 $22,810,000 $335,441 $11,436 4.90%
    45% 65 $23,695,000 $364,538 $13,679 4.82%
    48% 49 $19,735,000 $402,755 $17,090 5.10%
    44% 47 $16,975,000 $361,170 $15,200 5.27%
    40% 41 $15,665,000 $382,073 $14,863 5.03%
    47% 41 $16,255,000 $396,463 $14,559 4.97%
    39% 37 $12,395,000 $335,000 $12,401 4.98%
    43% 36 $13,630,000 $378,611 $13,661 5.10%
    46% 33 $11,715,000 $355,000 $15,001 5.38%
    42% 31 $10,355,000 $334,032 $12,520 5.27%
    37% 27 $10,565,000 $391,296 $14,123 4.87%
    41% 26 $8,990,000 $345,769 $14,739 4.64%
    36% 19 $5,785,000 $304,474 $10,069 4.95%
    38% 17 $5,555,000 $326,765 $11,975 5.39%
    <20% 13 $4,285,000 $329,615 $9,003 5.25%
    >60% 1 $485,000 $485,000 $5,704 4.75%
    Exempt% 1 $145,000 $145,000 $3,114 2.88%

    Mlb Residential Lending lent most frequently to those with DTI ratios of 50-60%, with 178 originations. The next most common DTI ratio? 30-36%, with 93 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 644 $236,900,000 $367,857 $14,096 5.09%
    Black 217 $77,085,000 $355,230 $16,033 4.96%
    Asian 28 $11,910,000 $425,357 $16,990 5.39%
    Not provided 8 $2,460,000 $307,500 $16,382 4.94%
    Other Pacific Islander 3 $1,105,000 $368,333 $14,722 6.38%
    Asian Indian 1 $535,000 $535,000 $19,418 4.75%
    Native Hawaiian or Islander 1 $155,000 $155,000 $9,631 3.50%

    Approval Rates

    Total approvals of all applications
    92.19%

    Mlb Residential Lending has an average approval rate.

    Pick Rate

    Approvals leading to origination
    58.98%

    Mlb Residential Lending has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 902 $330,150,000 $366,020

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    902 $330,150,000 $366,020

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $3,860,000 $241,250 $8,784 4.76%
    40-60% 57 $15,735,000 $276,053 $10,959 5.14%
    60-80% 204 $70,110,000 $343,676 $12,320 5.03%
    80-100% 617 $237,095,000 $384,271 $15,801 5.08%
    Over 100% 6 $3,160,000 $526,667 $24,564 5.90%
    Under 20% 2 $190,000 $95,000 $6,558 6.38%