Mortgage Equity Partners Rates, Fees & Info

LYNNFIELD, MA

LEI: 549300GE8KIGZVQV1223

Tax ID: 04-4354554

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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. 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: Boston, Orlando, Manchester, Lakeland, and Concord among others. We have data for 24 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.58% 12/16/24
    30 Year Conventional Refi 6.70% 12/16/24
    30 Year Cash-out Refi 6.80% 12/16/24
    30 Year FHA Purchase 7.57% 12/16/24
    30 Year FHA Refi 7.45% 12/16/24
    30 Year VA Purchase 6.48% 12/16/24
    30 Year VA Refi 6.27% 12/16/24
    30 Year USDA Purchase 7.02% 12/16/24
    15 Year Conventional Purchase 5.37% 12/16/24
    15 Year Conventional Refi 6.34% 12/16/24
    15 Year Cash-out Refi 6.34% 12/16/24
    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

    538

    Origination Dollar Volume (All Markets)

    $137,990,000

    Awards

    MORTGAGE EQUITY PARTNERS FHA Loans bronze
    Show all (1) awards

    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) 192 $62,480,000 $325,417 $5,348 4.80%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 174 $37,560,000 $215,862 $6,534 4.85%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 57 $14,295,000 $250,789 $5,334 4.89%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 30 $5,450,000 $181,667 $6,853 5.03%
    Concord, NH (FHA|USDA|VA) 19 $4,125,000 $217,105 $4,816 4.88%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 14 $2,560,000 $182,857 $5,906 5.05%
    WORCESTER, MA-CT (FHA|USDA|VA) 9 $2,315,000 $257,222 $4,629 4.96%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $1,465,000 $293,000 $4,790 4.70%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 5 $1,355,000 $271,000 $6,054 4.68%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 5 $1,185,000 $237,000 $5,151 4.59%
    Laconia, NH (FHA|USDA|VA) 5 $925,000 $185,000 $5,639 4.98%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 5 $895,000 $179,000 $8,169 5.01%
    Lebanon, NH-VT (FHA|USDA|VA) 4 $710,000 $177,500 $4,465 4.75%
    Outside of Metro Areas 2 $510,000 $255,000 $2,915 4.75%
    PUNTA GORDA, FL (FHA|USDA|VA) 2 $480,000 $240,000 $4,446 4.94%
    Keene, NH (FHA|USDA|VA) 2 $460,000 $230,000 $5,518 5.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $235,000 $235,000 $4,541 5.25%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $225,000 $225,000 $4,421 5.25%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $195,000 $195,000 $4,269 5.50%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $175,000 $175,000 $3,161 4.25%
    Berlin, NH (FHA|USDA|VA) 1 $145,000 $145,000 $7,973 5.13%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $95,000 $95,000 $5,159 5.88%
    Palatka, FL (FHA|USDA|VA) 1 $75,000 $75,000 $3,565 5.50%
    Augusta-Waterville, ME (FHA|USDA|VA) 1 $75,000 $75,000 $3,603 4.38%
    Mortgage Equity Partners's top markets include Boston, Orlando, Manchester, Lakeland, and Concord among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Maine (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: 18
    McCoy Federal Credit Union
    Similarity Rank: 60
    Saco Valley Credit Union
    Similarity Rank: 70
    CASCO
    Similarity Rank: 90
    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Members First Credit Union N.H.
    Similarity Rank: 119
    CUMBERLAND COUNTY
    Similarity Rank: 120
    Maine Savings Federal Credit Union
    Similarity Rank: 160
    First Ipswich Bank
    Similarity Rank: 164

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 370 $97,500,000 $263,514 $4,764 4.92%
    FHA 125 $29,115,000 $232,920 $8,699 4.70%
    VA 37 $10,065,000 $272,027 $6,304 4.75%
    USDA 4 $690,000 $172,500 $5,865 4.84%
    HELOC 1 $195,000 $195,000 n/a 4.13%
    FHA 1 $425,000 $425,000 $0 4.50%

    For 2018, Mortgage Equity Partners's most frequently originated type of loan was Conventional, with 370 originations. Their 2nd most popular type was FHA, with 125 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 463 $119,325,000 $257,721 $6,016 4.89%
    Refi 69 $17,245,000 $249,928 $4,401 4.67%
    Home Improvement 6 $1,420,000 $236,667 $4,935 4.57%

    For 2018, Mortgage Equity Partners's most frequently cited loan purpose was Home Purchase, with 463 originations. The 2nd most popular reason was Refi, with 69 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 517 $133,805,000 $258,810 $5,870 4.88%
    15 Year 13 $2,665,000 $205,000 $4,208 4.29%
    20 Year 6 $1,280,000 $213,333 $3,419 4.48%
    10 Year 1 $125,000 $125,000 $4,271 4.25%
    Other 1 $115,000 $115,000 $4,125 4.75%

    For 2018, Mortgage Equity Partners's most frequently cited loan duration was 30 Year, with 517 originations. The 2nd most popular length was 15 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 365 $94,875,000 $259,932
    $2k-3k 61 $13,945,000 $228,607
    $3k-4k 36 $8,320,000 $231,111
    $<1k 27 $7,425,000 $275,000
    $4k-5k 24 $6,140,000 $255,833
    $5k+ 23 $6,665,000 $289,783

    Mortgage Equity Partners's average total fees were $5,870, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 365 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 356 $92,950,000 $261,096
    5-6% 156 $37,340,000 $239,359
    3-4% 24 $7,400,000 $308,333
    6-7% 2 $300,000 $150,000

    During 2018, Mortgage Equity Partners's average interest rate for loans was 4.88%, while their most frequently originated rate bucket for loans was 4-5%, with 356 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 298 $81,180,000 $272,416 $6,041 4.81%
    $100k-200k 162 $25,890,000 $159,815 $5,209 4.94%
    $400k-600k 54 $25,510,000 $472,407 $6,410 4.74%
    $100,000 or less 18 $1,520,000 $84,444 $4,402 5.04%
    $600k-1MM 6 $3,890,000 $648,333 $8,151 5.24%

    2018 saw Mortgage Equity Partners place emphasis on $200k-400k loans with 298 originations, totaling $81,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 155 $34,025,000 $219,516 $5,966 4.87%
    $100k-150k 108 $32,720,000 $302,963 $5,256 4.83%
    $50k or less 103 $17,725,000 $172,087 $5,349 4.87%
    $75k-100k 101 $27,765,000 $274,901 $6,708 4.82%
    $150k-250k 56 $20,940,000 $373,929 $5,672 4.90%
    $250k+ 15 $4,815,000 $321,000 $5,303 4.81%

    Mortgage Equity Partners lent most frequently to those with incomes in the $50k-75k range, with 155 originations. The second most popular income band? $100k-150k, with 108 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 68 $16,520,000 $242,941 $7,874 4.69%
    30-36% 68 $17,880,000 $262,941 $5,178 4.87%
    20-30% 54 $15,050,000 $278,704 $5,377 4.76%
    49% 34 $7,350,000 $216,176 $5,366 4.90%
    42% 29 $8,995,000 $310,172 $6,137 4.92%
    43% 28 $6,940,000 $247,857 $4,987 4.92%
    48% 28 $6,830,000 $243,929 $6,036 4.76%
    39% 28 $6,860,000 $245,000 $5,398 4.83%
    47% 27 $7,145,000 $264,630 $6,802 4.92%
    44% 26 $6,510,000 $250,385 $5,068 5.10%
    37% 22 $4,840,000 $220,000 $5,585 4.84%
    46% 20 $4,860,000 $243,000 $7,250 5.11%
    41% 19 $5,525,000 $290,789 $4,547 4.86%
    45% 19 $5,015,000 $263,947 $6,022 4.89%
    38% 19 $4,875,000 $256,579 $5,201 4.80%
    40% 16 $3,920,000 $245,000 $4,982 4.98%
    36% 14 $4,190,000 $299,286 $5,293 4.81%
    <20% 13 $2,665,000 $205,000 $3,765 4.93%
    >60% 6 $2,020,000 $336,667 $5,578 4.65%

    Mortgage Equity Partners lent most frequently to those with DTI ratios of 50-60%, with 68 originations. The next most common DTI ratio? 30-36%, with 68 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 473 $121,325,000 $256,501 $5,791 4.86%
    Black 27 $7,075,000 $262,037 $6,155 4.87%
    Asian 16 $4,160,000 $260,000 $6,250 4.78%
    Not provided 16 $4,060,000 $253,750 $4,835 4.91%
    American Indian 3 $715,000 $238,333 $5,887 4.54%
    Not applicable 3 $655,000 $218,333 $6,011 4.98%

    Approval Rates

    Total approvals of all applications
    94.27%

    Mortgage Equity Partners has an average approval rate.

    Pick Rate

    Approvals leading to origination
    94.98%

    Mortgage Equity Partners has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 538 $137,990,000 $256,487

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $750,000 $125,000
    Single Family (1-4 Units):Site-Built 532 $137,240,000 $257,970

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $2,790,000 $174,375 $3,761 4.59%
    40-60% 43 $10,135,000 $235,698 $4,188 4.66%
    60-80% 116 $30,620,000 $263,966 $4,869 5.01%
    80-100% 349 $90,285,000 $258,696 $6,251 4.85%
    Over 100% 12 $3,920,000 $326,667 $10,475 4.74%
    Under 20% 2 $240,000 $120,000 $3,364 4.06%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Mortgage Lending Masters, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%