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, Orlando, Hartford, Providence, and Charleston among others. We have data for 70 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.58% | 4/28/24 |
| 30 Year Conventional Refi | 6.70% | 4/28/24 |
| 30 Year Cash-out Refi | 6.80% | 4/28/24 |
| 30 Year FHA Purchase | 7.57% | 4/28/24 |
| 30 Year FHA Refi | 7.45% | 4/28/24 |
| 30 Year VA Purchase | 6.48% | 4/28/24 |
| 30 Year VA Refi | 6.27% | 4/28/24 |
| 30 Year USDA Purchase | 7.02% | 4/28/24 |
| 15 Year Conventional Purchase | 5.37% | 4/28/24 |
| 15 Year Conventional Refi | 6.34% | 4/28/24 |
| 15 Year Cash-out Refi | 6.34% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,220Origination Dollar Volume (All Markets)
$395,260,000Awards
MORTGAGE EQUITY PARTNERS - 2022
MORTGAGE EQUITY PARTNERS is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 317 | $131,975,000 | $416,325 | $10,164 | 4.93% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 189 | $55,815,000 | $295,317 | $8,702 | 4.94% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 88 | $24,140,000 | $274,318 | $6,979 | 5.40% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 62 | $23,810,000 | $384,032 | $9,409 | 5.67% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 74 | $18,710,000 | $252,838 | $7,582 | 4.60% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 60 | $16,880,000 | $281,333 | $5,605 | 4.79% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 26 | $12,620,000 | $485,385 | $7,340 | 4.90% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 49 | $11,995,000 | $244,796 | $7,864 | 4.70% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 40 | $11,640,000 | $291,000 | $6,867 | 4.88% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 34 | $10,610,000 | $312,059 | $9,154 | 4.84% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 26 | $7,030,000 | $270,385 | $9,291 | 4.94% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 27 | $6,915,000 | $256,111 | $10,566 | 5.11% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 19 | $5,505,000 | $289,737 | $9,236 | 5.15% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 23 | $5,415,000 | $235,435 | $7,097 | 4.98% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 15 | $3,985,000 | $265,667 | $5,767 | 4.31% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 14 | $3,500,000 | $250,000 | $8,224 | 4.66% |
| OCALA, FL (FHA|USDA|VA) | 16 | $3,480,000 | $217,500 | $11,021 | 5.61% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 7 | $3,155,000 | $450,714 | $5,887 | 4.46% |
| Outside of Metro Areas | 13 | $3,125,000 | $240,385 | $8,892 | 5.26% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 7 | $2,985,000 | $426,429 | $6,955 | 5.11% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 9 | $2,825,000 | $313,889 | $6,555 | 5.08% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 9 | $2,235,000 | $248,333 | $7,242 | 5.22% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 4 | $1,770,000 | $442,500 | $6,661 | 4.03% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 5 | $1,685,000 | $337,000 | $6,209 | 5.50% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 5 | $1,615,000 | $323,000 | $5,706 | 4.13% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 3 | $1,395,000 | $465,000 | $8,983 | 5.21% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 5 | $1,395,000 | $279,000 | $7,230 | 4.38% |
| Concord, NH (FHA|USDA|VA) | 4 | $1,300,000 | $325,000 | $8,585 | 5.15% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 5 | $1,205,000 | $241,000 | $5,611 | 4.33% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $1,090,000 | $272,500 | $4,628 | 4.59% |
| SPARTANBURG, SC (FHA|USDA|VA) | 5 | $1,065,000 | $213,000 | $5,271 | 4.43% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $12,313 | 5.75% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $5,515 | 3.88% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $7,360 | 6.81% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 4 | $710,000 | $177,500 | $4,513 | 5.13% |
| SUMTER, SC (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $9,782 | 5.88% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $6,463 | 5.13% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $16,961 | 4.88% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $8,547 | 5.06% |
| SAVANNAH, GA (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $9,160 | 5.25% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $14,974 | 6.63% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $4,762 | 3.99% |
| Clewiston, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $9,424 | 5.50% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $8,621 | 4.88% |
| St. Marys, GA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $7,840 | 5.75% |
| Washington, NC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,588 | 4.38% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $4,646 | 5.21% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $8,617 | 5.99% |
| Laconia, NH (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $3,640 | 6.00% |
| Albemarle, NC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $8,428 | 5.75% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $7,415 | 5.25% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $11,821 | 6.63% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $6,997 | 3.75% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,759 | 3.38% |
| Keene, NH (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $6,912 | 4.99% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,798 | 4.38% |
| Sanford, NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,711 | 4.88% |
| BANGOR, ME (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $13,370 | 4.88% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $7,830 | 4.75% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,729 | 3.38% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $5,455 | 7.75% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,539 | 5.50% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,816 | 5.50% |
| Arcadia, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $9,225 | 5.63% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $9,443 | 4.63% |
| Gaffney, SC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,547 | 5.50% |
| Palatka, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,985 | 6.63% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,208 | 4.88% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,643 | 4.25% |
| Forest City, NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,096 | 6.25% |
Their top states include:
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Product Mix
For 2022, Mortgage Equity Partners's most frequently originated type of loan was Conventional, with 946 originations. Their 2nd most popular type was FHA, with 223 originations.
Loan Reason
For 2022, Mortgage Equity Partners's most frequently cited loan purpose was Home Purchase, with 991 originations. The 2nd most popular reason was Cash Out Refi, with 176 originations.
Loan Duration/Length
For 2022, Mortgage Equity Partners's most frequently cited loan duration was 30 Year, with 1,140 originations. The 2nd most popular length was 15 Year, with 52 originations.
Origination Fees/Closing Costs
Mortgage Equity Partners's average total fees were $8,840, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 425 originations.
Interest Rates
During 2022, Mortgage Equity Partners's average interest rate for loans was 5.07%, while their most frequently originated rate bucket for loans was 5-6%, with 417 originations.
Loan Sizing
2022 saw Mortgage Equity Partners place emphasis on $200k-400k loans with 611 originations, totaling $180,755,000 in origination value.
Applicant Income
Mortgage Equity Partners lent most frequently to those with incomes in the $50k-75k range, with 305 originations. The second most popular income band? $100k-150k, with 276 originations.
Applicant Debt to Income Ratio
Mortgage Equity Partners lent most frequently to those with DTI ratios of 30-36%, with 163 originations. The next most common DTI ratio? 20-30%, with 142 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.84%
Mortgage Equity Partners has an average approval rate.
Pick Rate
Approvals leading to origination94.84%
Mortgage Equity Partners has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,220 | $395,260,000 | $323,984 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Mortgage Research Center, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| Mortgage Research Center, LLC | VA mortgage | Trouble during payment process | 1 | 50.0% |