Mortgage Equity Partners Rates, Fees & Info

LYNNFIELD, MA

LEI: 549300GE8KIGZVQV1223

Tax ID: 04-4354554

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

2021 Data | 2020 Data | 2019 Data | 2018 Data


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 include Boston, Orlando, Manchester, Washington, and Baltimore among others. Mortgage Equity Partners has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Mortgage Equity Partners is typically an average fee lendor.


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 rate mortgage of loans were 3.17%.

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

This yields a difference of 0.02%.

Relative Fees

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

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
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.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average 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 the 2021 period, Mortgage Equity Partners 's most frequently originated loan type of loans were Conventional, with 2,113 originations. Their 2nd most popular type is FHA, with 312 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average 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 the 2021, Mortgage Equity Partners 's most frequently cited loan purpose of loans were Home Purchase, with 1,193 originations. The 2nd most popular reason of loans were 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 the 2021, Mortgage Equity Partners 's most frequently cited loan length of loans were 30 Year, with 2,120 originations. The 2nd most popular length of loans were 15 Year, with 250 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,539 $462,005,000 $300,198
$2k-3k 297 $85,355,000 $287,391
$3k-4k 279 $83,795,000 $300,341
$<1k 255 $62,795,000 $246,255
$5k+ 157 $62,275,000 $396,656

$5,696 of loans were Mortgage Equity Partners 's average total fees, while their most frequently occuring range of origination fees 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 of loans were 3.17%, while their most frequently originated rate bucket of loans were 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
96.45%

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
91.54%

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%