Mortgage Equity Partners Rates, Fees & Info
LYNNFIELD, MALEI: 549300GE8KIGZVQV1223
Tax ID: 04-4354554
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.58% | 4/18/24 |
| 30 Year Conventional Refi | 6.70% | 4/18/24 |
| 30 Year Cash-out Refi | 6.80% | 4/18/24 |
| 30 Year FHA Purchase | 7.57% | 4/18/24 |
| 30 Year FHA Refi | 7.45% | 4/18/24 |
| 30 Year VA Purchase | 6.48% | 4/18/24 |
| 30 Year VA Refi | 6.27% | 4/18/24 |
| 30 Year USDA Purchase | 7.02% | 4/18/24 |
| 15 Year Conventional Purchase | 5.37% | 4/18/24 |
| 15 Year Conventional Refi | 6.34% | 4/18/24 |
| 15 Year Cash-out Refi | 6.34% | 4/18/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,266Origination Dollar Volume (All Markets)
$439,430,000Relative 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% |
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Product Mix
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
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
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
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
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
2023 saw Mortgage Equity Partners place emphasis on $200k-400k loans with 611 originations, totaling $185,425,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications92.82%
Mortgage Equity Partners has an average approval rate.
Pick Rate
Approvals leading to origination93.84%
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 |