Mortgage Now Rates, Fees & Info
CINCINNATI, OHLEI: 549300FXZWGDF5ZVOK92
Tax ID: 31-1546027
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Mortgage Data
Review & Overview
Mortgage Now is a smaller mortgage company specializing in Refi loans. Mortgage Now has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: New York, Philadelphia, San Francisco, Los Angeles, and Washington among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)Mortgage Now 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. Mortgage Now is typically an average 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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Originations
364Origination Dollar Volume (All Markets)
$109,170,000Awards
MORTGAGE NOW - 2020
MORTGAGE NOW is a 2020 , due to their low .
For 2020, 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 217 | $68,395,000 | $315,184 | $8,323 | 3.29% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 41 | $9,365,000 | $228,415 | $4,808 | 3.09% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 9 | $4,285,000 | $476,111 | $3,913 | 2.96% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 6 | $2,840,000 | $473,333 | $4,144 | 3.65% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 9 | $2,675,000 | $297,222 | $3,771 | 3.32% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 8 | $2,660,000 | $332,500 | $5,309 | 2.88% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 10 | $2,450,000 | $245,000 | $4,194 | 3.29% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 10 | $2,300,000 | $230,000 | $4,130 | 2.99% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 5 | $1,545,000 | $309,000 | $4,752 | 2.95% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 3 | $1,355,000 | $451,667 | $4,241 | 2.79% |
| PITTSBURGH, PA (FHA|USDA|VA) | 6 | $1,310,000 | $218,333 | $5,532 | 3.31% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 3 | $1,195,000 | $398,333 | $5,785 | 3.04% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 4 | $1,130,000 | $282,500 | $4,421 | 2.88% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $5,202 | 3.67% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $5,735 | 2.63% |
| READING, PA (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $4,483 | 3.33% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $4,200 | 3.38% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $1,842 | 3.13% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $4,103 | 2.99% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $3,588 | 2.99% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,083 | 2.88% |
| MODESTO, CA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $4,594 | 3.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 3 | $295,000 | $98,333 | $5,826 | 3.46% |
| CHICO, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,657 | 4.13% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,478 | 3.50% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $2,898 | 3.25% |
| Cambridge, MD (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $1,146 | 2.75% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,248 | 3.50% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,465 | 2.25% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,675 | 3.38% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,734 | 2.88% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,303 | 3.13% |
| Outside of Metro Areas | 1 | $175,000 | $175,000 | $2,940 | 3.63% |
| EL CENTRO, CA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,698 | 2.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against MORTGAGE NOW 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 2020, Mortgage Now's most frequently originated type of loan was Conventional, with 230 originations. Their 2nd most popular type was FHA, with 111 originations.
Loan Reason
For 2020, Mortgage Now's most frequently cited loan purpose was Refi, with 255 originations. The 2nd most popular reason was Cash Out Refi, with 62 originations.
Loan Duration/Length
For 2020, Mortgage Now's most frequently cited loan duration was 30 Year, with 208 originations. The 2nd most popular length was Other, with 95 originations.
Origination Fees/Closing Costs
Mortgage Now's average total fees were $5,607, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 342 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 167 | $50,365,000 | $301,587 |
| 2.5-3% | 141 | $43,625,000 | $309,397 |
| 4-5% | 29 | $8,535,000 | $294,310 |
| <2.5% | 24 | $5,970,000 | $248,750 |
| 5-6% | 3 | $675,000 | $225,000 |
During 2020, Mortgage Now's average interest rate for loans was 3.32%, while their most frequently originated rate bucket for loans was 3-4%, with 167 originations.
Loan Sizing
2020 saw Mortgage Now place emphasis on $200k-400k loans with 216 originations, totaling $62,770,000 in origination value.
Applicant Income
Mortgage Now lent most frequently to those with incomes in the $100k-150k range, with 98 originations. The second most popular income band? $50k or less, with 87 originations.
Applicant Debt to Income Ratio
Mortgage Now lent most frequently to those with DTI ratios of <20%, with 81 originations. The next most common DTI ratio? 30-36%, with 58 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.47%
Mortgage Now has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination97.25%
Mortgage Now has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 364 | $109,170,000 | $299,918 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $345,000 | $345,000 |
| Single Family (1-4 Units):Site-Built | 363 | $108,825,000 | $299,793 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MORTGAGE CENTER, LC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 40.0% |
| MORTGAGE CENTER, LC | Conventional home mortgage | Trouble during payment process | 1 | 20.0% |
| MORTGAGE CENTER, LC | Conventional home mortgage | Problem with a credit reporting company's investigation into an existing problem | 1 | 20.0% |
| MORTGAGE CENTER, LC | Conventional home mortgage | Closing on a mortgage | 1 | 20.0% |