Plus Relocation Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300EHWBP6UP4Y8J37

Tax ID: 37-1847422

4.9 stars - out of 5 stars, based on 18 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Plus Relocation Mortgage is a smaller mortgage company specializing in Home Purchase loans. Plus Relocation Mortgage has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Minneapolis, Washington, Dallas, Atlanta, and Chicago among others. Plus Relocation Mortgage has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Plus Relocation Mortgage is typically an average fee lendor.


Originations

332

Origination Dollar Volume (All Markets)

$143,880,000

Relative Rate

Plus Relocation Mortgage 's average 30 year fixed rate mortgage of loans were 3.11%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.04%.

Relative Fees

Plus Relocation Mortgage 's average total fees for a 30 year fixed rate mortgage are $4,995.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 53 $17,575,000 $331,604 $3,520 3.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 25 $16,295,000 $651,800 $4,828 3.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 26 $9,680,000 $372,308 $6,077 3.13%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 10 $5,620,000 $562,000 $4,756 3.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 10 $5,480,000 $548,000 $6,664 2.95%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 6 $5,200,000 $866,667 $7,408 3.13%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 5 $4,845,000 $969,000 $5,161 2.98%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 4 $4,500,000 $1,125,000 $4,547 2.88%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 7 $4,125,000 $589,286 $4,434 2.89%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 8 $3,690,000 $461,250 $5,744 3.13%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 5 $3,525,000 $705,000 $3,736 2.90%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 9 $3,525,000 $391,667 $4,434 3.01%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 10 $3,480,000 $348,000 $3,783 2.97%
RICHMOND, VA (FHA|USDA|VA) 8 $3,460,000 $432,500 $3,582 3.07%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 8 $3,170,000 $396,250 $7,696 2.78%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 7 $2,925,000 $417,857 $2,912 3.14%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 7 $2,505,000 $357,857 $7,467 2.89%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 8 $2,290,000 $286,250 $2,752 3.08%
Outside of Metro Areas 6 $2,190,000 $365,000 $4,262 3.19%
COLORADO SPRINGS, CO (FHA|USDA|VA) 5 $1,985,000 $397,000 $5,441 3.32%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 4 $1,680,000 $420,000 $3,628 2.97%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 3 $1,675,000 $558,333 $5,444 3.04%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 3 $1,435,000 $478,333 $9,628 2.79%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 3 $1,425,000 $475,000 $9,010 3.25%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $1,215,000 $405,000 $6,751 3.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $1,200,000 $600,000 $5,138 2.50%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 2 $990,000 $495,000 $4,258 2.87%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $985,000 $985,000 $5,320 2.88%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $955,000 $955,000 $10,671 3.13%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2 $870,000 $435,000 $6,325 2.63%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $860,000 $430,000 $4,244 3.06%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $820,000 $410,000 $4,157 3.19%
VALLEJO, CA (FHA|USDA|VA) 1 $805,000 $805,000 $5,901 3.38%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $790,000 $395,000 $6,399 2.81%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $770,000 $385,000 $5,459 3.44%
Brevard, NC (FHA|USDA|VA) 2 $710,000 $355,000 $3,782 3.31%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $690,000 $345,000 $4,307 3.06%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $680,000 $340,000 $6,018 3.43%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $675,000 $675,000 $40,857 2.50%
ST. CLOUD, MN (FHA|USDA|VA) 2 $650,000 $325,000 $6,585 3.19%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 2 $610,000 $305,000 $2,847 3.13%
FORT WAYNE, IN (FHA|USDA|VA) 2 $610,000 $305,000 $3,827 3.06%
Faribault-Northfield, MN (FHA|USDA|VA) 2 $590,000 $295,000 $2,828 2.94%
BOULDER, CO (FHA|USDA|VA) 1 $585,000 $585,000 $3,438 3.13%
JACKSONVILLE, NC (FHA|USDA|VA) 2 $580,000 $290,000 $3,206 4.12%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $550,000 $275,000 $5,803 3.06%
STOCKTON, CA (FHA|USDA|VA) 1 $545,000 $545,000 $3,674 2.99%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $545,000 $545,000 $5,727 2.99%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $520,000 $260,000 $3,159 3.31%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 2 $500,000 $250,000 $2,869 3.06%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $500,000 $250,000 $6,246 3.19%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $495,000 $495,000 $4,783 2.99%
ANN ARBOR, MI (FHA|USDA|VA) 1 $485,000 $485,000 $4,544 2.88%
SAVANNAH, GA (FHA|USDA|VA) 2 $450,000 $225,000 $7,636 2.69%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $445,000 $445,000 $4,150 2.88%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $425,000 $425,000 $4,258 3.25%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $405,000 $405,000 $3,109 3.13%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $400,000 $200,000 $2,073 3.13%
GREELEY, CO (FHA|USDA|VA) 1 $395,000 $395,000 $3,643 3.50%
Morehead City, NC (FHA|USDA|VA) 1 $385,000 $385,000 $8,049 2.99%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $385,000 $385,000 $3,281 3.25%
Sanford, NC (FHA|USDA|VA) 1 $385,000 $385,000 $3,665 2.75%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $385,000 $385,000 $5,277 2.75%
ROCKY MOUNT, NC (FHA|USDA|VA) 2 $370,000 $185,000 $2,027 3.13%
LUBBOCK, TX (FHA|USDA|VA) 1 $365,000 $365,000 $4,649 2.99%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $355,000 $355,000 $5,479 3.13%
TYLER, TX (FHA|USDA|VA) 1 $335,000 $335,000 $3,591 2.63%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $315,000 $315,000 $5,709 3.25%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $285,000 $285,000 $3,839 3.13%
GRAND JUNCTION, CO (FHA|USDA|VA) 1 $275,000 $275,000 $2,290 3.38%
PUEBLO, CO (FHA|USDA|VA) 1 $275,000 $275,000 $2,286 2.75%
Richmond, IN (FHA|USDA|VA) 1 $265,000 $265,000 $1,770 2.63%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $265,000 $265,000 $3,067 3.13%
Aberdeen, WA (FHA|USDA|VA) 1 $265,000 $265,000 $4,084 3.25%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $255,000 $255,000 $3,454 3.13%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $235,000 $235,000 $3,842 3.63%
Brainerd, MN (FHA|USDA|VA) 1 $235,000 $235,000 $2,922 2.88%
BLOOMINGTON, IL (FHA|USDA|VA) 1 $235,000 $235,000 $2,026 3.50%
Traverse City, MI (FHA|USDA|VA) 1 $215,000 $215,000 $2,846 3.13%
BATTLE CREEK, MI (FHA|USDA|VA) 1 $205,000 $205,000 $2,117 2.88%
Salem, OH (FHA|USDA|VA) 1 $195,000 $195,000 $2,553 2.88%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $185,000 $185,000 $4,019 3.25%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $185,000 $185,000 $5,365 3.75%
Marinette, WI-MI (FHA|USDA|VA) 1 $185,000 $185,000 $2,258 3.38%
GOLDSBORO, NC (FHA|USDA|VA) 1 $185,000 $185,000 $6,339 4.25%
Lumberton, NC (FHA|USDA|VA) 1 $175,000 $175,000 $3,067 3.38%
PITTSBURGH, PA (FHA|USDA|VA) 1 $175,000 $175,000 $7,519 3.25%
Alexandria, MN (FHA|USDA|VA) 1 $175,000 $175,000 $2,904 3.25%
Cullowhee, NC (FHA|USDA|VA) 1 $165,000 $165,000 $2,714 3.38%
EL PASO, TX (FHA|USDA|VA) 1 $145,000 $145,000 $3,026 2.50%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $135,000 $135,000 $6,420 3.25%
AKRON, OH (FHA|USDA|VA) 1 $105,000 $105,000 $4,296 3.38%

Plus Relocation Mortgage 's top markets include Minneapolis, Washington, Dallas, Atlanta, and Chicago among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 302 $133,870,000 $443,278 $4,363 3.03%
FHA 21 $6,115,000 $291,190 $9,115 3.31%
VA 9 $3,895,000 $432,778 $11,140 3.00%

For the 2021 period, Plus Relocation Mortgage 's most frequently originated loan type of loans were Conventional, with 302 originations. Their 2nd most popular type is FHA, with 21 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 249 $113,225,000 $454,719 $5,560 3.08%
Refi 64 $25,450,000 $397,656 $2,687 2.84%
Cash Out Refi 19 $5,205,000 $273,947 $2,782 3.33%

For the 2021, Plus Relocation Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 249 originations. The 2nd most popular reason of loans were Refi, with 64 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 291 $129,925,000 $446,478 $4,995 3.11%
15 Year 30 $10,490,000 $349,667 $3,546 2.51%
20 Year 6 $2,080,000 $346,667 $4,634 2.83%
10 Year 4 $1,060,000 $265,000 $4,567 2.75%
Other 1 $325,000 $325,000 $3,179 2.99%

For the 2021, Plus Relocation Mortgage 's most frequently cited loan length of loans were 30 Year, with 291 originations. The 2nd most popular length of loans were 15 Year, with 30 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 272 $113,530,000 $417,390
$5k+ 20 $14,130,000 $706,500
$3k-4k 16 $7,430,000 $464,375
$1k-2k 13 $3,715,000 $285,769
$2k-3k 11 $5,075,000 $461,364

$4,995 of loans were Plus Relocation Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 272 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 152 $61,100,000 $401,974
2.5-3% 150 $71,010,000 $473,400
<2.5% 25 $10,405,000 $416,200
4-5% 5 $1,365,000 $273,000

During 2021, Plus Relocation Mortgage 's average interest rate of loans were 3.11%, while their most frequently originated rate bucket of loans were 3-4%, with 152 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 148 $43,870,000 $296,419 $4,157 3.04%
$400k-600k 97 $46,365,000 $477,990 $4,933 2.99%
$600k-1MM 38 $28,880,000 $760,000 $7,457 3.03%
$100k-200k 34 $5,490,000 $161,471 $3,478 3.22%
$1MM+ 14 $19,190,000 $1,370,714 $7,924 2.93%
$100,000 or less 1 $85,000 $85,000 $2,941 4.50%

2021 saw Plus Relocation Mortgage place emphasis on $200k-400k loans with 148 originations, totaling $43,870,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 110 $39,700,000 $360,909 $4,232 3.04%
$150k-250k 103 $50,935,000 $494,515 $5,265 3.02%
$250k+ 39 $32,345,000 $829,359 $6,725 2.84%
$75k-100k 37 $10,335,000 $279,324 $4,729 3.24%
$50k-75k 33 $8,235,000 $249,545 $3,786 3.10%
$50k or less 7 $1,415,000 $202,143 $3,519 3.36%

Plus Relocation Mortgage lent most frequently to those with incomes in the $100k-150k range, with 110 originations. The second most popular income band? $150k-250k, with 103 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 108 $46,020,000 $426,111 $4,512 2.98%
30-36% 59 $28,285,000 $479,407 $4,655 3.16%
<20% 39 $13,695,000 $351,154 $3,903 2.92%
41% 15 $9,485,000 $632,333 $7,185 3.04%
43% 13 $5,175,000 $398,077 $4,293 3.24%
39% 11 $5,115,000 $465,000 $6,034 2.91%
37% 10 $4,090,000 $409,000 $4,391 2.83%
38% 10 $5,690,000 $569,000 $5,921 3.04%
42% 9 $5,555,000 $617,222 $5,502 3.11%
40% 9 $3,455,000 $383,889 $5,155 3.35%
45% 8 $2,620,000 $327,500 $4,638 3.17%
36% 8 $3,030,000 $378,750 $4,377 3.12%
50-60% 7 $2,035,000 $290,714 $9,218 3.14%
49% 7 $3,215,000 $459,286 $6,831 3.05%
48% 6 $1,440,000 $240,000 $3,635 3.25%
44% 5 $1,535,000 $307,000 $4,480 3.05%
46% 5 $2,335,000 $467,000 $5,172 3.07%
47% 2 $930,000 $465,000 $4,303 2.94%

Plus Relocation Mortgage lent most frequently to those with DTI ratios of 20-30%, with 108 originations. The next most common DTI ratio? 30-36%, with 59 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 260 $106,320,000 $408,923 $4,747 3.04%
Not provided 26 $13,440,000 $516,923 $4,602 2.97%
Asian 26 $12,350,000 $475,000 $4,894 3.09%
Black 19 $11,315,000 $595,526 $6,575 3.13%
American Indian 1 $455,000 $455,000 $3,207 2.38%

Approval Rates

Total approvals of all applications
98.07%

Plus Relocation Mortgage 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
78.23%

Plus Relocation Mortgage has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 332 $143,880,000 $433,373

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
332 $143,880,000 $433,373

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 10 $3,530,000 $353,000 $4,089 2.76%
40-60% 32 $11,050,000 $345,313 $3,338 2.80%
60-80% 115 $52,485,000 $456,391 $4,234 3.03%
80-100% 172 $75,740,000 $440,349 $5,369 3.12%
Over 100% 2 $920,000 $460,000 $24,554 2.88%
Under 20% 1 $155,000 $155,000 $1,953 2.88%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Pilgrim Mortgage LLC Conventional home mortgage Closing on a mortgage 1 100.0%