Mortgage Equity Partners Rates, Fees & Info

LYNNFIELD, MA

LEI: 549300GE8KIGZVQV1223

Tax ID: 04-4354554

3.6 stars - Updated: 5/20/24 - out of 5 stars, based on 36 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Mortgage Equity Partners is a smaller mortgage company specializing in Home Purchase 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, Providence, Orlando, Baltimore, and Hartford among others. We have data for 71 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 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 relatively high 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 6.58% 5/20/24
30 Year Conventional Refi 6.70% 5/20/24
30 Year Cash-out Refi 6.80% 5/20/24
30 Year FHA Purchase 7.57% 5/20/24
30 Year FHA Refi 7.45% 5/20/24
30 Year VA Purchase 6.48% 5/20/24
30 Year VA Refi 6.27% 5/20/24
30 Year USDA Purchase 7.02% 5/20/24
15 Year Conventional Purchase 5.37% 5/20/24
15 Year Conventional Refi 6.34% 5/20/24
15 Year Cash-out Refi 6.34% 5/20/24
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.

Mortgage Equity Partners Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Mortgage Equity Partners. 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

1,266

Origination Dollar Volume (All Markets)

$439,430,000

Relative Rate

Mortgage Equity Partners's average 30 year fixed mortgage rate was 6.57%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.09%.

Relative Fees (Closing Costs)

Mortgage Equity Partners's average total fees/closing costs for a 30 year fixed rate mortgage were $10,217.

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 $9,089.

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) 244 $105,700,000 $433,197 $11,163 6.44%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 167 $66,435,000 $397,814 $8,200 6.73%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 167 $54,625,000 $327,096 $11,817 6.25%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 92 $27,940,000 $303,696 $9,998 6.91%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 86 $26,020,000 $302,558 $7,240 6.71%
WORCESTER, MA-CT (FHA|USDA|VA) 58 $18,990,000 $327,414 $10,124 6.33%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 41 $17,185,000 $419,146 $10,631 6.74%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 44 $15,990,000 $363,409 $12,920 6.64%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 45 $11,675,000 $259,444 $11,228 5.83%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 30 $11,150,000 $371,667 $8,782 6.77%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 20 $7,110,000 $355,500 $7,738 7.14%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 25 $6,165,000 $246,600 $9,890 6.06%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 25 $5,885,000 $235,400 $8,941 5.25%
SPRINGFIELD, MA (FHA|USDA|VA) 21 $5,715,000 $272,143 $10,960 6.12%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 14 $5,260,000 $375,714 $12,869 7.10%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 12 $4,410,000 $367,500 $7,598 6.71%
Outside of Metro Areas 13 $4,315,000 $331,923 $8,388 7.17%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 15 $4,005,000 $267,000 $10,278 6.27%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 12 $3,510,000 $292,500 $11,637 6.74%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 7 $2,495,000 $356,429 $10,392 7.12%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 11 $2,265,000 $205,909 $6,180 4.97%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 6 $1,990,000 $331,667 $7,116 6.79%
JACKSONVILLE, FL (FHA|USDA|VA) 5 $1,945,000 $389,000 $8,935 6.70%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 3 $1,865,000 $621,667 $9,103 6.96%
OCALA, FL (FHA|USDA|VA) 10 $1,570,000 $157,000 $6,971 5.70%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 3 $1,485,000 $495,000 $8,878 7.46%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 6 $1,380,000 $230,000 $11,550 7.00%
RALEIGH-CARY, NC (FHA|USDA|VA) 5 $1,365,000 $273,000 $7,115 7.18%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $1,355,000 $451,667 $11,970 7.87%
Torrington, CT (FHA|USDA|VA) 4 $1,180,000 $295,000 $11,618 6.84%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 2 $1,150,000 $575,000 $22,580 6.87%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 3 $1,085,000 $361,667 $7,029 7.04%
Concord, NH (FHA|USDA|VA) 3 $1,005,000 $335,000 $8,238 6.96%
PORT ST. LUCIE, FL (FHA|USDA|VA) 4 $1,000,000 $250,000 $10,905 5.37%
Lebanon, NH-VT (FHA|USDA|VA) 3 $895,000 $298,333 $10,981 7.25%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 3 $805,000 $268,333 $8,371 7.83%
SPARTANBURG, SC (FHA|USDA|VA) 3 $775,000 $258,333 $6,812 7.54%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $725,000 $725,000 $12,969 7.63%
PUNTA GORDA, FL (FHA|USDA|VA) 4 $710,000 $177,500 $9,158 6.62%
COLUMBIA, SC (FHA|USDA|VA) 2 $600,000 $300,000 $7,988 6.81%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 3 $595,000 $198,333 $6,632 6.54%
JACKSONVILLE, NC (FHA|USDA|VA) 2 $570,000 $285,000 $10,219 7.19%
YORK-HANOVER, PA (FHA|USDA|VA) 3 $515,000 $171,667 $7,684 6.83%
GETTYSBURG, PA (FHA|USDA|VA) 1 $495,000 $495,000 $6,655 7.38%
SAVANNAH, GA (FHA|USDA|VA) 2 $430,000 $215,000 $8,076 6.68%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $420,000 $210,000 $9,057 7.75%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $415,000 $415,000 $13,523 6.75%
Statesboro, GA (FHA|USDA|VA) 1 $405,000 $405,000 $11,524 7.13%
Laconia, NH (FHA|USDA|VA) 1 $395,000 $395,000 $8,249 8.50%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $385,000 $385,000 $10,978 7.13%
Morehead City, NC (FHA|USDA|VA) 1 $385,000 $385,000 $10,794 8.63%
THE VILLAGES, FL (FHA|USDA|VA) 2 $370,000 $185,000 $9,504 6.81%
Orangeburg, SC (FHA|USDA|VA) 2 $350,000 $175,000 $7,096 3.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $340,000 $170,000 $9,156 7.00%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 3 $335,000 $111,667 $5,576 4.38%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $325,000 $325,000 $5,971 8.63%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $325,000 $325,000 $7,232 7.63%
BURLINGTON, NC (FHA|USDA|VA) 1 $305,000 $305,000 $9,467 6.63%
PITTSFIELD, MA (FHA|USDA|VA) 1 $295,000 $295,000 $13,436 6.75%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $285,000 $285,000 $16,216 6.13%
Brevard, NC (FHA|USDA|VA) 1 $255,000 $255,000 $4,841 7.63%
GAINESVILLE, FL (FHA|USDA|VA) 1 $255,000 $255,000 $7,660 7.38%
LUBBOCK, TX (FHA|USDA|VA) 1 $215,000 $215,000 $11,240 6.99%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 2 $160,000 $80,000 $4,249 7.50%
GREENVILLE, NC (FHA|USDA|VA) 1 $155,000 $155,000 $4,157 7.25%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $155,000 $155,000 $4,597 7.13%
Augusta-Waterville, ME (FHA|USDA|VA) 1 $125,000 $125,000 $5,427 8.63%
CUMBERLAND, MD-WV (FHA|USDA|VA) 1 $115,000 $115,000 $5,324 7.63%
YUBA CITY, CA (FHA|USDA|VA) 1 $115,000 $115,000 $4,708 7.50%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $105,000 $105,000 $6,501 6.38%
RICHMOND, VA (FHA|USDA|VA) 1 $105,000 $105,000 $5,381 6.75%
Mortgage Equity Partners's top markets include Boston, Providence, Orlando, Baltimore, and Hartford among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Connecticut (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.

    Charter Oak Federal Credit Union
    Similarity Rank: 24
    RTN FEDERAL CREDIT UNION
    Similarity Rank: 40
    Saco Valley Credit Union
    Similarity Rank: 64
    HOMEFIELD
    Similarity Rank: 75
    SCIENT Federal Credit Union
    Similarity Rank: 110
    Bath Savings Institution
    Similarity Rank: 115
    Norway Savings Bank
    Similarity Rank: 126
    GREYLOCK
    Similarity Rank: 160

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 918 $304,840,000 $332,070 $7,575 6.46%
    FHA 282 $107,340,000 $380,638 $16,927 6.72%
    VA 64 $26,720,000 $417,500 $14,362 6.53%
    USDA 2 $530,000 $265,000 $7,216 7.00%

    For 2023, Mortgage Equity Partners's most frequently originated type of loan was Conventional, with 918 originations. Their 2nd most popular type was FHA, with 282 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,183 $414,625,000 $350,486 $10,058 6.49%
    Cash Out Refi 53 $16,095,000 $303,679 $10,148 6.97%
    Refi 26 $7,930,000 $305,000 $7,602 6.81%
    Home Improvement 4 $780,000 $195,000 $7,396 7.03%

    For 2023, Mortgage Equity Partners's most frequently cited loan purpose was Home Purchase, with 1,183 originations. The 2nd most popular reason was Cash Out Refi, with 53 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,224 $431,570,000 $352,590 $10,217 6.57%
    15 Year 23 $5,455,000 $237,174 $5,152 4.69%
    20 Year 10 $1,800,000 $180,000 $3,453 3.24%
    10 Year 9 $605,000 $67,222 $484 7.64%

    For 2023, Mortgage Equity Partners's most frequently cited loan duration was 30 Year, with 1,224 originations. The 2nd most popular length was 15 Year, with 23 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 544 $218,990,000 $402,555
    $1k-2k 335 $118,865,000 $354,821
    $4k-5k 107 $35,535,000 $332,103
    $2k-3k 105 $30,045,000 $286,143
    $3k-4k 91 $27,715,000 $304,560
    $<1k 84 $8,280,000 $98,571

    Mortgage Equity Partners's average total fees were $10,217, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 544 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 594 $218,630,000 $368,064
    7-8% 407 $147,155,000 $361,560
    5-6% 157 $57,335,000 $365,191
    <2.5% 62 $1,160,000 $18,710
    Over 8% 44 $14,450,000 $328,409
    4-5% 2 $700,000 $350,000

    During 2023, Mortgage Equity Partners's average interest rate for loans was 6.57%, while their most frequently originated rate bucket for loans was 6-7%, with 594 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 611 $185,425,000 $303,478 $10,133 6.83%
    $400k-600k 287 $137,255,000 $478,240 $12,016 6.90%
    $100k-200k 154 $23,990,000 $155,779 $6,145 6.79%
    $600k-1MM 122 $83,810,000 $686,967 $15,036 6.78%
    $100,000 or less 87 $2,685,000 $30,862 $904 2.30%
    $1MM+ 5 $6,265,000 $1,253,000 $32,843 6.53%

    2023 saw Mortgage Equity Partners place emphasis on $200k-400k loans with 611 originations, totaling $185,425,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 360 $133,000,000 $369,444 $10,827 6.61%
    $75k-100k 263 $72,155,000 $274,354 $9,869 6.06%
    $150k-250k 251 $112,385,000 $447,749 $10,421 6.98%
    $50k-75k 213 $47,515,000 $223,075 $8,611 6.20%
    $250k+ 120 $65,290,000 $544,083 $10,753 6.99%
    $50k or less 59 $9,085,000 $153,983 $7,295 6.33%

    Mortgage Equity Partners lent most frequently to those with incomes in the $100k-150k range, with 360 originations. The second most popular income band? $75k-100k, with 263 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 157 $61,095,000 $389,140 $17,046 6.52%
    30-36% 156 $54,490,000 $349,295 $8,083 6.61%
    20-30% 132 $47,190,000 $357,500 $7,401 6.83%
    49% 95 $35,905,000 $377,947 $11,367 6.79%
    48% 81 $28,775,000 $355,247 $9,881 6.91%
    46% 70 $21,670,000 $309,571 $9,230 6.38%
    44% 69 $20,465,000 $296,594 $8,928 6.09%
    47% 61 $22,695,000 $372,049 $10,345 6.84%
    41% 60 $16,070,000 $267,833 $8,102 6.76%
    43% 57 $19,415,000 $340,614 $9,042 6.69%
    45% 50 $18,110,000 $362,200 $11,681 6.21%
    <20% 49 $13,105,000 $267,449 $5,562 4.68%
    42% 49 $18,185,000 $371,122 $11,216 6.40%
    40% 47 $17,275,000 $367,553 $9,903 6.46%
    39% 37 $12,635,000 $341,486 $8,840 6.53%
    37% 35 $10,765,000 $307,571 $7,264 6.69%
    38% 33 $11,485,000 $348,030 $8,791 6.46%
    36% 25 $9,085,000 $363,400 $8,015 6.59%
    >60% 3 $1,015,000 $338,333 $9,654 4.75%

    Mortgage Equity Partners lent most frequently to those with DTI ratios of 50-60%, with 157 originations. The next most common DTI ratio? 30-36%, with 156 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 898 $308,220,000 $343,229 $9,555 6.57%
    Black 182 $63,330,000 $347,967 $12,630 6.12%
    Not provided 127 $48,855,000 $384,685 $10,076 6.79%
    Asian 43 $14,935,000 $347,326 $8,326 6.56%
    American Indian 16 $4,090,000 $255,625 $9,162 6.13%

    Approval Rates

    Total approvals of all applications
    92.82%

    Mortgage Equity Partners has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.84%

    Mortgage Equity Partners has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,266 $439,430,000 $347,101

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,266 $439,430,000 $347,101

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $10,950,000 $248,864 $5,316 6.83%
    40-60% 114 $34,670,000 $304,123 $6,680 6.73%
    60-80% 319 $114,905,000 $360,204 $9,000 6.93%
    80-100% 692 $268,620,000 $388,179 $12,174 6.81%
    Over 100% 19 $8,035,000 $422,895 $17,844 6.64%
    Under 20% 78 $2,250,000 $28,846 $530 1.76%