Mortgage Equity Partners Rates, Fees & Info

LYNNFIELD, MA

LEI: 549300GE8KIGZVQV1223

Tax ID: 04-4354554

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Mortgage Data

Review & Overview

Mortgage Equity Partners is a smaller mortgage company specializing in Refi and 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, Orlando, Washington, Manchester, and Baltimore among others. We have data for 56 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 6.58% 3/28/24
30 Year Conventional Refi 6.70% 3/28/24
30 Year Cash-out Refi 6.80% 3/28/24
30 Year FHA Purchase 7.57% 3/28/24
30 Year FHA Refi 7.45% 3/28/24
30 Year VA Purchase 6.48% 3/28/24
30 Year VA Refi 6.27% 3/28/24
30 Year USDA Purchase 7.02% 3/28/24
15 Year Conventional Purchase 5.37% 3/28/24
15 Year Conventional Refi 6.34% 3/28/24
15 Year Cash-out Refi 6.34% 3/28/24
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

3,281

Origination Dollar Volume (All Markets)

$987,225,000
Show all (6) 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) 1,261 $446,125,000 $353,787 $4,605 3.06%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 527 $133,995,000 $254,260 $5,973 3.16%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 224 $83,930,000 $374,688 $3,220 2.97%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 248 $67,430,000 $271,895 $4,744 3.07%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 233 $66,265,000 $284,399 $3,457 2.98%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 109 $25,785,000 $236,560 $4,656 3.28%
WORCESTER, MA-CT (FHA|USDA|VA) 81 $23,045,000 $284,506 $4,775 3.15%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 73 $15,145,000 $207,466 $6,635 3.42%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 65 $14,975,000 $230,385 $5,447 3.02%
Concord, NH (FHA|USDA|VA) 55 $14,205,000 $258,273 $4,385 3.16%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 69 $13,965,000 $202,391 $5,804 3.27%
RALEIGH-CARY, NC (FHA|USDA|VA) 36 $9,340,000 $259,444 $4,253 3.31%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 29 $8,325,000 $287,069 $6,013 3.01%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 35 $8,245,000 $235,571 $5,920 3.34%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 28 $6,960,000 $248,571 $4,887 3.02%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 17 $5,055,000 $297,353 $3,957 3.07%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 16 $4,740,000 $296,250 $4,405 2.94%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 14 $3,650,000 $260,714 $5,005 2.96%
Outside of Metro Areas 18 $3,480,000 $193,333 $3,393 2.89%
SPRINGFIELD, MA (FHA|USDA|VA) 12 $3,120,000 $260,000 $4,929 2.86%
Laconia, NH (FHA|USDA|VA) 13 $3,055,000 $235,000 $4,021 3.10%
Keene, NH (FHA|USDA|VA) 9 $2,265,000 $251,667 $4,555 2.86%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 12 $2,110,000 $175,833 $5,297 3.17%
Lebanon, NH-VT (FHA|USDA|VA) 8 $2,080,000 $260,000 $4,173 3.11%
JACKSONVILLE, FL (FHA|USDA|VA) 9 $1,995,000 $221,667 $5,562 3.17%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 7 $1,655,000 $236,429 $4,010 2.86%
SPARTANBURG, SC (FHA|USDA|VA) 5 $1,315,000 $263,000 $3,977 3.00%
OCALA, FL (FHA|USDA|VA) 6 $1,190,000 $198,333 $7,182 3.21%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 4 $1,090,000 $272,500 $3,519 2.78%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 4 $1,050,000 $262,500 $7,103 3.75%
THE VILLAGES, FL (FHA|USDA|VA) 4 $950,000 $237,500 $7,825 3.13%
PUNTA GORDA, FL (FHA|USDA|VA) 3 $935,000 $311,667 $5,082 3.29%
COLUMBIA, SC (FHA|USDA|VA) 5 $825,000 $165,000 $4,457 3.35%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $810,000 $405,000 $8,402 3.31%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $760,000 $380,000 $9,163 4.06%
GAINESVILLE, FL (FHA|USDA|VA) 5 $755,000 $151,000 $5,693 4.78%
Vineyard Haven, MA (FHA|USDA|VA) 2 $750,000 $375,000 $3,312 2.88%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $735,000 $245,000 $3,890 2.88%
ASHEVILLE, NC (FHA|USDA|VA) 2 $500,000 $250,000 $3,894 3.44%
PORT ST. LUCIE, FL (FHA|USDA|VA) 3 $455,000 $151,667 $4,250 3.37%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 2 $430,000 $215,000 $4,283 3.75%
TALLAHASSEE, FL (FHA|USDA|VA) 3 $415,000 $138,333 $3,798 1.71%
WINSTON-SALEM, NC (FHA|USDA|VA) 2 $410,000 $205,000 $9,818 3.94%
Berlin, NH (FHA|USDA|VA) 3 $375,000 $125,000 $3,563 3.25%
Augusta-Waterville, ME (FHA|USDA|VA) 1 $365,000 $365,000 $9,049 2.63%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $355,000 $355,000 $11,637 2.88%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $290,000 $145,000 $4,432 3.12%
ALBANY, GA (FHA|USDA|VA) 1 $245,000 $245,000 $3,221 3.13%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $235,000 $235,000 $4,425 2.63%
Morehead City, NC (FHA|USDA|VA) 1 $215,000 $215,000 $4,001 2.99%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $205,000 $205,000 $4,500 3.50%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $195,000 $195,000 $3,375 2.75%
Orangeburg, SC (FHA|USDA|VA) 1 $125,000 $125,000 $2,855 2.75%
Thomasville, GA (FHA|USDA|VA) 1 $115,000 $115,000 $3,596 2.50%
RICHMOND, VA (FHA|USDA|VA) 1 $115,000 $115,000 $3,020 3.63%
Milledgeville, GA (FHA|USDA|VA) 1 $75,000 $75,000 $3,411 2.63%
Mortgage Equity Partners's top markets include Boston, Orlando, Washington, Manchester, 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)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,689 $807,205,000 $300,188 $3,807 3.08%
    FHA 427 $128,805,000 $301,651 $10,189 3.24%
    VA 138 $45,190,000 $327,464 $6,755 2.94%
    USDA 27 $6,025,000 $223,148 $6,453 2.99%

    For 2020, Mortgage Equity Partners's most frequently originated type of loan was Conventional, with 2,689 originations. Their 2nd most popular type was FHA, with 427 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,645 $511,745,000 $311,091 $3,686 3.00%
    Home Purchase 1,176 $338,950,000 $288,223 $6,511 3.18%
    Cash Out Refi 377 $112,625,000 $298,740 $4,316 3.20%
    Home Improvement 83 $23,905,000 $288,012 $4,154 3.24%

    For 2020, Mortgage Equity Partners's most frequently cited loan purpose was Refi, with 1,645 originations. The 2nd most popular reason was Home Purchase, with 1,176 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,701 $833,205,000 $308,480 $5,135 3.16%
    15 Year 365 $94,305,000 $258,370 $3,112 2.63%
    20 Year 132 $37,080,000 $280,909 $3,373 2.95%
    Other 45 $15,115,000 $335,889 $3,461 3.07%
    10 Year 37 $7,505,000 $202,838 $2,267 3.59%
    5 Year 1 $15,000 $15,000 $0 0.00%

    For 2020, Mortgage Equity Partners's most frequently cited loan duration was 30 Year, with 2,701 originations. The 2nd most popular length was 15 Year, with 365 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 2,169 $651,145,000 $300,205
    $<1k 514 $156,330,000 $304,144
    $2k-3k 259 $72,225,000 $278,861
    $3k-4k 136 $38,940,000 $286,324
    $5k+ 126 $47,010,000 $373,095
    $4k-5k 77 $21,575,000 $280,195

    Mortgage Equity Partners's average total fees were $5,135, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,169 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,455 $452,845,000 $311,234
    3-4% 1,358 $411,020,000 $302,666
    <2.5% 349 $93,445,000 $267,751
    4-5% 104 $27,240,000 $261,923
    7-8% 8 $70,000 $8,750
    5-6% 7 $2,605,000 $372,143

    During 2020, Mortgage Equity Partners's average interest rate for loans was 3.16%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,455 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,852 $542,250,000 $292,792 $4,932 3.10%
    $100k-200k 643 $102,115,000 $158,810 $4,013 3.13%
    $400k-600k 600 $283,800,000 $473,000 $5,212 3.08%
    $100,000 or less 107 $5,765,000 $53,879 $2,131 2.91%
    $600k-1MM 78 $52,080,000 $667,692 $7,316 3.10%
    $1MM+ 1 $1,215,000 $1,215,000 $49,415 2.75%

    2020 saw Mortgage Equity Partners place emphasis on $200k-400k loans with 1,852 originations, totaling $542,250,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 809 $262,055,000 $323,925 $4,611 3.08%
    $50k-75k 648 $153,370,000 $236,682 $5,130 3.13%
    $75k-100k 635 $179,895,000 $283,299 $5,072 3.08%
    $150k-250k 590 $216,570,000 $367,068 $4,267 3.09%
    $50k or less 362 $77,300,000 $213,536 $5,265 3.16%
    $250k+ 218 $91,650,000 $420,413 $4,266 3.02%

    Mortgage Equity Partners lent most frequently to those with incomes in the $100k-150k range, with 809 originations. The second most popular income band? $50k-75k, with 648 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 694 $214,560,000 $309,164 $3,840 3.03%
    30-36% 543 $159,545,000 $293,821 $4,336 3.12%
    <20% 288 $87,330,000 $303,229 $3,392 2.88%
    42% 136 $41,070,000 $301,985 $5,126 3.20%
    41% 136 $41,330,000 $303,897 $5,678 3.14%
    43% 127 $39,505,000 $311,063 $5,412 3.12%
    44% 125 $38,495,000 $307,960 $4,869 3.13%
    40% 122 $37,060,000 $303,770 $4,519 3.13%
    36% 122 $37,640,000 $308,525 $4,497 3.16%
    39% 111 $31,895,000 $287,342 $4,553 3.24%
    50-60% 111 $33,745,000 $304,009 $10,038 3.05%
    38% 109 $30,745,000 $282,064 $4,723 3.18%
    37% 108 $30,720,000 $284,444 $4,336 3.11%
    >60% 106 $33,830,000 $319,151 $5,970 3.05%
    49% 93 $26,495,000 $284,892 $5,754 3.34%
    47% 90 $25,300,000 $281,111 $6,227 3.20%
    45% 89 $26,765,000 $300,730 $5,824 3.06%
    46% 84 $25,150,000 $299,405 $6,008 3.20%
    48% 71 $21,075,000 $296,831 $5,937 3.14%

    Mortgage Equity Partners lent most frequently to those with DTI ratios of 20-30%, with 694 originations. The next most common DTI ratio? 30-36%, with 543 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,848 $854,850,000 $300,158 $4,688 3.08%
    Black 184 $52,010,000 $282,663 $6,428 3.30%
    Asian 129 $39,795,000 $308,488 $4,350 3.05%
    Not provided 97 $33,145,000 $341,701 $5,019 3.17%
    Not applicable 15 $4,935,000 $329,000 $4,405 2.94%
    American Indian 6 $1,980,000 $330,000 $5,149 2.75%
    Native Hawaiian or Islander 2 $510,000 $255,000 $6,503 2.75%

    Approval Rates

    Total approvals of all applications
    97.04%

    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
    91.41%

    Mortgage Equity Partners has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,281 $987,225,000 $300,891

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $800,000 $133,333
    Single Family (1-4 Units):Site-Built 3,275 $986,425,000 $301,198

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 161 $38,055,000 $236,366 $3,365 2.85%
    40-60% 585 $169,915,000 $290,453 $3,340 2.92%
    60-80% 1,217 $387,335,000 $318,270 $3,933 3.15%
    80-100% 1,227 $377,055,000 $307,298 $6,505 3.19%
    Over 100% 21 $7,675,000 $365,476 $15,261 2.98%
    Under 20% 54 $2,220,000 $41,111 $827 2.54%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    MORTGAGE EXPRESS, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%