Mortgage Equity Partners Rates, Fees & Info

LYNNFIELD, MA

LEI: 549300GE8KIGZVQV1223

Tax ID: 04-4354554

4 stars - out of 5 stars, based on 50 reviews

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

Jump to:

Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Mortgage Equity Partners is a smaller mortgage company specializing in Home Purchase and Refi loans. Mortgage Equity Partners 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: Boston, Orlando, Manchester, Washington, and Baltimore among others. We have data for 61 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mortgage Equity Partners 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 Equity Partners 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.

    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 6.92% 11/26/22
    30 Year Conventional Refi 6.82% 11/26/22
    30 Year Cash-out Refi 7.06% 11/26/22
    30 Year FHA Purchase 7.98% 11/26/22
    30 Year FHA Refi 7.56% 11/26/22
    30 Year VA Purchase 6.83% 11/26/22
    30 Year VA Refi 6.30% 11/26/22
    30 Year USDA Purchase 7.24% 11/26/22
    30 Year USDA Refi 7.01% 11/26/22
    15 Year Conventional Purchase 5.98% 11/26/22
    15 Year Conventional Refi 6.16% 11/26/22
    15 Year Cash-out Refi 6.16% 11/26/22
    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.


    Originations

    2,527

    Origination Dollar Volume (All Markets)

    $756,225,000

    Awards

    MORTGAGE EQUITY PARTNERS 30 Year Conventional Loans bronze MORTGAGE EQUITY PARTNERS 30 Year Conventional Loans bronze
    Show all (2) awards

    Relative Rate

    Mortgage Equity Partners's average 30 year fixed mortgage rate was 3.17%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.02%.

    Relative Fees (Closing Costs)

    Mortgage Equity Partners's average total fees/closing costs for a 30 year fixed rate mortgage were $5,696.

    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
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 826 $300,820,000 $364,189 $5,583 3.05%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 491 $124,015,000 $252,576 $5,871 3.21%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 168 $48,370,000 $287,917 $4,758 3.08%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 120 $45,290,000 $377,417 $4,012 2.87%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 169 $43,795,000 $259,142 $3,593 2.96%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 93 $23,045,000 $247,796 $5,134 2.96%
    WORCESTER, MA-CT (FHA|USDA|VA) 68 $19,770,000 $290,735 $5,354 2.99%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 48 $13,840,000 $288,333 $6,410 3.11%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 62 $12,530,000 $202,097 $6,784 3.29%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 60 $12,400,000 $206,667 $5,659 3.44%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 55 $12,065,000 $219,364 $6,220 3.32%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 39 $10,835,000 $277,821 $5,967 3.27%
    RALEIGH-CARY, NC (FHA|USDA|VA) 32 $9,790,000 $305,938 $4,188 3.19%
    Concord, NH (FHA|USDA|VA) 30 $8,080,000 $269,333 $4,326 3.05%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 23 $7,655,000 $332,826 $4,959 3.22%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 22 $6,900,000 $313,636 $4,924 3.04%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 19 $5,605,000 $295,000 $4,430 2.95%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 17 $5,125,000 $301,471 $5,019 2.79%
    OCALA, FL (FHA|USDA|VA) 23 $4,075,000 $177,174 $5,680 3.25%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 21 $3,925,000 $186,905 $5,434 3.24%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 14 $3,890,000 $277,857 $4,805 3.14%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 10 $3,230,000 $323,000 $3,665 3.08%
    Laconia, NH (FHA|USDA|VA) 10 $2,750,000 $275,000 $4,400 2.85%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 12 $2,610,000 $217,500 $5,893 3.18%
    Outside of Metro Areas 8 $2,550,000 $318,750 $5,823 3.11%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 8 $2,040,000 $255,000 $6,564 3.06%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 3 $1,945,000 $648,333 $4,357 2.96%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 11 $1,865,000 $169,545 $3,668 3.11%
    SPARTANBURG, SC (FHA|USDA|VA) 7 $1,345,000 $192,143 $6,065 3.27%
    PUNTA GORDA, FL (FHA|USDA|VA) 4 $1,210,000 $302,500 $7,432 3.22%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 4 $1,100,000 $275,000 $3,717 3.19%
    SPRINGFIELD, MA (FHA|USDA|VA) 3 $1,075,000 $358,333 $4,611 3.58%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 5 $1,065,000 $213,000 $4,830 3.00%
    ASHEVILLE, NC (FHA|USDA|VA) 3 $905,000 $301,667 $5,683 3.42%
    JACKSONVILLE, FL (FHA|USDA|VA) 3 $895,000 $298,333 $5,825 2.75%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 3 $825,000 $275,000 $4,511 2.71%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 3 $805,000 $268,333 $4,371 2.87%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 2 $680,000 $340,000 $3,579 2.94%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $645,000 $645,000 $3,578 3.25%
    Lebanon, NH-VT (FHA|USDA|VA) 2 $640,000 $320,000 $10,388 2.69%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $635,000 $635,000 $13,272 3.50%
    Greenwood, SC (FHA|USDA|VA) 1 $525,000 $525,000 $4,700 3.25%
    Berlin, NH (FHA|USDA|VA) 3 $455,000 $151,667 $3,452 3.04%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $455,000 $455,000 $4,149 3.25%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $395,000 $395,000 $4,245 2.88%
    Augusta-Waterville, ME (FHA|USDA|VA) 2 $370,000 $185,000 $3,931 3.50%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $355,000 $355,000 $6,899 3.38%
    Forest City, NC (FHA|USDA|VA) 1 $315,000 $315,000 $4,327 2.50%
    NEW BERN, NC (FHA|USDA|VA) 1 $295,000 $295,000 $10,529 3.75%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $275,000 $275,000 $3,822 2.38%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $245,000 $245,000 $2,581 2.38%
    Keene, NH (FHA|USDA|VA) 1 $245,000 $245,000 $3,121 3.00%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $245,000 $245,000 $3,399 3.38%
    GOLDSBORO, NC (FHA|USDA|VA) 1 $225,000 $225,000 $3,473 3.25%
    Orangeburg, SC (FHA|USDA|VA) 2 $210,000 $105,000 $3,620 2.94%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $205,000 $205,000 $4,515 3.13%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $185,000 $185,000 $2,352 2.38%
    DALTON, GA (FHA|USDA|VA) 1 $185,000 $185,000 $3,492 3.50%
    COLUMBIA, SC (FHA|USDA|VA) 1 $145,000 $145,000 $3,717 3.13%
    Cullowhee, NC (FHA|USDA|VA) 1 $145,000 $145,000 $3,799 3.25%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $115,000 $115,000 $3,403 2.13%
    Mortgage Equity Partners's top markets include Boston, Orlando, Manchester, Washington, and Baltimore among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Similar Lenders

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

    INFINITY Federal Credit Union
    Similarity Rank: 136
    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 167
    CASCO
    Similarity Rank: 226
    CUMBERLAND COUNTY
    Similarity Rank: 464
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    Kennebec Savings Bank
    Similarity Rank: 535
    Cedar Point Federal Credit Union
    Similarity Rank: 546
    Barley Mortgage, LLC
    Similarity Rank: 552

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,113 $617,665,000 $292,317 $4,339 3.09%
    FHA 312 $105,200,000 $337,179 $11,541 3.20%
    VA 91 $30,915,000 $339,725 $6,813 2.77%
    USDA 11 $2,445,000 $222,273 $6,658 2.97%

    For 2021, Mortgage Equity Partners's most frequently originated type of loan was Conventional, with 2,113 originations. Their 2nd most popular type was FHA, with 312 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,193 $362,585,000 $303,927 $6,548 3.16%
    Refi 791 $230,905,000 $291,915 $3,866 2.88%
    Cash Out Refi 492 $147,590,000 $299,980 $4,745 3.24%
    Home Improvement 51 $15,145,000 $296,961 $5,150 3.21%

    For 2021, Mortgage Equity Partners's most frequently cited loan purpose was Home Purchase, with 1,193 originations. The 2nd most popular reason was Refi, with 791 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,120 $658,270,000 $310,505 $5,696 3.17%
    15 Year 250 $58,800,000 $235,200 $3,399 2.52%
    20 Year 79 $21,895,000 $277,152 $3,908 2.80%
    10 Year 39 $5,645,000 $144,744 $2,046 3.29%
    Other 38 $11,600,000 $305,263 $4,003 3.01%
    3 Year 1 $15,000 $15,000 $0 0.00%

    For 2021, Mortgage Equity Partners's most frequently cited loan duration was 30 Year, with 2,120 originations. The 2nd most popular length was 15 Year, with 250 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,539 $462,005,000 $300,198
    $2k-3k 297 $85,355,000 $287,391
    $<1k 255 $62,795,000 $246,255
    $3k-4k 170 $48,640,000 $286,118
    $5k+ 157 $62,275,000 $396,656
    $4k-5k 109 $35,155,000 $322,523

    Mortgage Equity Partners's average total fees were $5,696, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,539 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,231 $380,835,000 $309,370
    2.5-3% 893 $278,345,000 $311,697
    <2.5% 306 $74,290,000 $242,778
    4-5% 87 $22,675,000 $260,632
    5-6% 6 $50,000 $8,333
    7-8% 4 $30,000 $7,500

    During 2021, Mortgage Equity Partners's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 3-4%, with 1,231 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,370 $400,580,000 $292,394 $5,340 3.13%
    $100k-200k 533 $83,925,000 $157,458 $4,179 3.10%
    $400k-600k 438 $209,500,000 $478,311 $6,755 3.08%
    $100,000 or less 101 $4,175,000 $41,337 $1,621 2.49%
    $600k-1MM 85 $58,045,000 $682,882 $9,371 3.21%

    2021 saw Mortgage Equity Partners place emphasis on $200k-400k loans with 1,370 originations, totaling $400,580,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 573 $140,925,000 $245,942 $5,463 3.12%
    $100k-150k 563 $191,055,000 $339,352 $5,465 3.10%
    $75k-100k 522 $149,040,000 $285,517 $5,537 3.08%
    $150k-250k 401 $150,375,000 $375,000 $5,003 3.12%
    $50k or less 319 $63,205,000 $198,135 $5,139 3.06%
    $250k+ 131 $55,815,000 $426,069 $5,080 3.03%

    Mortgage Equity Partners lent most frequently to those with incomes in the $50k-75k range, with 573 originations. The second most popular income band? $100k-150k, with 563 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 435 $127,435,000 $292,954 $4,774 3.14%
    20-30% 401 $120,615,000 $300,786 $4,319 3.03%
    <20% 163 $43,665,000 $267,883 $3,816 2.77%
    43% 134 $39,700,000 $296,269 $5,163 3.09%
    44% 125 $39,315,000 $314,520 $5,344 3.21%
    50-60% 122 $38,570,000 $316,148 $10,428 3.04%
    49% 118 $39,150,000 $331,780 $6,683 3.10%
    42% 112 $34,550,000 $308,482 $5,716 3.24%
    37% 108 $31,500,000 $291,667 $4,990 3.22%
    41% 95 $27,325,000 $287,632 $5,256 3.08%
    47% 92 $28,610,000 $310,978 $6,283 3.13%
    40% 89 $25,715,000 $288,933 $4,974 3.17%
    39% 89 $26,435,000 $297,022 $5,041 3.11%
    45% 82 $23,680,000 $288,780 $5,713 3.24%
    38% 79 $20,695,000 $261,962 $4,601 3.15%
    48% 79 $23,335,000 $295,380 $5,997 3.16%
    46% 78 $26,040,000 $333,846 $6,699 3.25%
    36% 75 $22,075,000 $294,333 $4,723 3.12%
    >60% 34 $11,970,000 $352,059 $6,061 2.57%

    Mortgage Equity Partners lent most frequently to those with DTI ratios of 30-36%, with 435 originations. The next most common DTI ratio? 20-30%, with 401 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,097 $621,875,000 $296,555 $5,142 3.08%
    Black 208 $62,700,000 $301,442 $6,969 3.13%
    Asian 130 $40,560,000 $312,000 $5,323 3.20%
    Not provided 78 $27,560,000 $353,333 $5,763 3.22%
    American Indian 13 $3,385,000 $260,385 $6,824 3.50%
    Guamanian 1 $145,000 $145,000 $3,717 3.13%

    Approval Rates

    Total approvals of all applications
    96.31%

    Mortgage Equity Partners 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
    91.14%

    Mortgage Equity Partners has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,527 $756,225,000 $299,258

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,527 $756,225,000 $299,258

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 133 $28,215,000 $212,143 $3,390 2.75%
    40-60% 432 $121,690,000 $281,690 $3,759 2.91%
    60-80% 962 $294,610,000 $306,247 $4,661 3.22%
    80-100% 911 $300,795,000 $330,181 $7,321 3.19%
    Over 100% 10 $3,420,000 $342,000 $14,602 2.91%
    Under 20% 65 $2,795,000 $43,000 $606 2.05%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    MORTGAGE CENTER, LC FHA mortgage Closing on a mortgage 1 100.0%