Mlb Residential Lending Mortgage Rates, Fees & Info
SPRINGFIELD, NJLEI: 549300DW87L2IZ7ZHF47
Tax ID: 46-2738255
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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 a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: New York, Philadelphia, Allentown, Miami, and Poughkeepsie among others. We have data for 37 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.93% | 12/2/24 |
| 30 Year Conventional Refi | 6.83% | 12/2/24 |
| 30 Year Cash-out Refi | 7.07% | 12/2/24 |
| 30 Year FHA Purchase | 7.55% | 12/2/24 |
| 30 Year FHA Refi | 6.95% | 12/2/24 |
| 30 Year VA Purchase | 6.54% | 12/2/24 |
| 30 Year VA Refi | 5.71% | 12/2/24 |
| 30 Year USDA Purchase | 6.72% | 12/2/24 |
| 30 Year USDA Refi | 6.46% | 12/2/24 |
| 15 Year Conventional Purchase | 5.98% | 12/2/24 |
| 15 Year Conventional Refi | 6.67% | 12/2/24 |
| 15 Year Cash-out Refi | 6.67% | 12/2/24 |
| 15 Year FHA Refi | 5.68% | 12/2/24 |
| 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
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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
1,557Origination Dollar Volume (All Markets)
$538,965,000Top 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) | 1,245 | $460,825,000 | $370,141 | $11,449 | 3.24% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 103 | $27,455,000 | $266,553 | $9,382 | 3.34% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 25 | $6,735,000 | $269,400 | $9,435 | 3.15% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 20 | $5,680,000 | $284,000 | $7,651 | 3.19% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 19 | $5,425,000 | $285,526 | $10,131 | 3.41% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 17 | $4,135,000 | $243,235 | $9,717 | 3.30% |
| Plattsburgh, NY (FHA|USDA|VA) | 22 | $3,710,000 | $168,636 | $7,231 | 3.21% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 13 | $3,705,000 | $285,000 | $7,567 | 3.17% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 16 | $3,240,000 | $202,500 | $8,208 | 3.51% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 11 | $2,305,000 | $209,545 | $7,414 | 3.22% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $2,130,000 | $355,000 | $8,893 | 3.38% |
| READING, PA (FHA|USDA|VA) | 8 | $1,470,000 | $183,750 | $9,985 | 3.09% |
| Ogdensburg-Massena, NY (FHA|USDA|VA) | 9 | $1,445,000 | $160,556 | $8,792 | 3.32% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 3 | $985,000 | $328,333 | $10,660 | 3.46% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $8,745 | 3.19% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $11,885 | 3.08% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $7,636 | 3.13% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $7,899 | 3.29% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $9,704 | 3.87% |
| UTICA-ROME, NY (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $9,264 | 3.38% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $6,620 | 3.25% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $10,067 | 3.38% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $9,534 | 3.69% |
| Outside of Metro Areas | 2 | $460,000 | $230,000 | $8,275 | 3.06% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $6,979 | 3.75% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $5,959 | 4.19% |
| DOVER, DE (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $12,368 | 2.75% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $10,336 | 2.88% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $8,742 | 3.50% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $10,164 | 3.38% |
| Amsterdam, NY (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $13,508 | 3.88% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $5,282 | 3.25% |
| WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $10,137 | 2.50% |
| Gloversville, NY (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $7,491 | 3.25% |
| Oneonta, NY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $10,003 | 3.25% |
| Malone, NY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $6,419 | 3.75% |
| Pottsville, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,258 | 3.13% |
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.
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Product Mix
For 2021, Mlb Residential Lending's most frequently originated type of loan was Conventional, with 996 originations. Their 2nd most popular type was FHA, with 528 originations.
Loan Reason
For 2021, Mlb Residential Lending's most frequently cited loan purpose was Home Purchase, with 966 originations. The 2nd most popular reason was Refi, with 336 originations.
Loan Duration/Length
For 2021, Mlb Residential Lending's most frequently cited loan duration was 30 Year, with 1,423 originations. The 2nd most popular length was 15 Year, with 70 originations.
Origination Fees/Closing Costs
Mlb Residential Lending's average total fees were $11,232, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 668 originations.
Interest Rates
During 2021, Mlb Residential Lending's average interest rate for loans was 3.29%, while their most frequently originated rate bucket for loans was 3-4%, with 915 originations.
Loan Sizing
2021 saw Mlb Residential Lending place emphasis on $200k-400k loans with 841 originations, totaling $254,185,000 in origination value.
Applicant Income
Mlb Residential Lending lent most frequently to those with incomes in the $100k-150k range, with 413 originations. The second most popular income band? $75k-100k, with 394 originations.
Applicant Debt to Income Ratio
Mlb Residential Lending lent most frequently to those with DTI ratios of 50-60%, with 215 originations. The next most common DTI ratio? 30-36%, with 210 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.48%
Mlb Residential Lending has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination58.83%
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 | 1,557 | $538,965,000 | $346,156 |